C W Tomkins Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06340001 (England and Wales)

C W TOMKINS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

C W Tomkins

SECRETARY:

D Todorovic

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

06340001 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

FIXED ASSETS

Tangible assets

4

73,544

83,530

Investments

5

1,008

1,008

Investment property

6

226,500

226,500

301,052

311,038

CURRENT ASSETS

Stocks

632,799

629,299

Debtors

7

252,768

268,943

Cash at bank

59,420

7,857

944,987

906,099

CREDITORS

Amounts falling due within one year

8

706,547

643,854

NET CURRENT ASSETS

238,440

262,245

TOTAL ASSETS LESS CURRENT LIABILITIES

539,492

573,283

CREDITORS

Amounts falling due after more than one year

9

(13,188

)

(64,867

)

PROVISIONS FOR LIABILITIES

(6,450

)

(6,450

)

NET ASSETS

519,854

501,966

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Share premium

11

1,321,517

1,321,517

Profit and loss reserve - non distributable

11

74,657

74,657

Retained earnings

11

(886,320

)

(904,208

)

SHAREHOLDERS' FUNDS

519,854

501,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 March 2023 and were signed by:

C W Tomkins - Director

1.	STATUTORY INFORMATION

C W Tomkins Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Shipping containers

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Office equipment

-

33% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed asset investments represent long term investments and are stated at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Shipping

Plant and

Office

property

containers

machinery

equipment

Totals

£

£

£

£

£

COST

At 1 July 2021

62,089

17,550

41,366

8,032

129,037

Additions

1,817

2,500

-

1,000

5,317

Disposals

-

-

(9,537

)

-

(9,537

)

At 30 June 2022

63,906

20,050

31,829

9,032

124,817

DEPRECIATION

At 1 July 2021

12,881

7,100

19,002

6,524

45,507

Charge for year

1,278

2,515

4,472

466

8,731

Eliminated on disposal

-

-

(2,965

)

-

(2,965

)

At 30 June 2022

14,159

9,615

20,509

6,990

51,273

NET BOOK VALUE

At 30 June 2022

49,747

10,435

11,320

2,042

73,544

At 30 June 2021

49,208

10,450

22,364

1,508

83,530

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 July 2021

and 30 June 2022

1,000

8

1,008

NET BOOK VALUE

At 30 June 2022

1,000

8

1,008

At 30 June 2021

1,000

8

1,008

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2021

and 30 June 2022

226,500

NET BOOK VALUE

At 30 June 2022

226,500

At 30 June 2021

226,500

Fair value at 30 June 2022 is represented by:

£

Valuation in 2016

275,000

Valuation in 2018

37,500

Valuation in 2021

(86,000

)

226,500

If investment property had not been revalued it would have been included at the following historical cost:

2022

2021

£

£

Cost

145,394

145,394

Investment property was valued on an open market basis on 15 October 2021 by Southams .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

39,939

50,830

Amounts owed by group undertakings

158,179

206,184

Other debtors

54,650

11,929

252,768

268,943

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

53,058

14,705

Trade creditors

10,033

16,574

Taxation and social security

6,437

6,164

Other creditors

637,019

606,411

706,547

643,854

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

13,188

64,867

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 years

-

6,046

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

10,000

Ordinary

£1

10,000

10,000

11.

RESERVES

Non distributable reserve

£

Balance at 1 July 2021

74,657

Balance at 30 June 2022

74,657

The aggregate surplus on re-measurement of investment properties and freehold properties, net of associated deferred tax, is transferred to a separate non-distributable reserve in order to assist with the identification of profits available for distribution.

12.	SECURED DEBTS

The following secured debts are included within creditors;

2022

2021

£

£

Bank loan

48,662

57,867

The secured bank loan is secured on the company's investment property and tangible fixed assets.