Tomac Investments Limited Small abbreviated accounts

Tomac Investments Limited Small abbreviated accounts

TOMAC INVESTMENTS LIMITED - Company Information

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FY Private Limited Company Company accounts 2016-03-18 2016-03-18 false true false false false false false false false false false false true true 2015-01-01 true xbrli:pure xbrli:shares iso4217:GBP 05256322 2015-01-01 2015-12-31 05256322 2015-12-31 05256322 2014-12-31 05256322 2014-01-01 2014-12-31 05256322 2014-12-31 05256322 uk-gaap:FixturesFittings 2015-01-01 2015-12-31 05256322 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-01-01 2015-12-31 05256322 uk-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 05256322 uk-bus:OrdinaryShareClass2 2015-01-01 2015-12-31 05256322 uk-bus:Director1 2015-01-01 2015-12-31 05256322 uk-gaap:AllSubsidiaries 2015-01-01 2015-12-31 05256322 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-12-31 05256322 uk-bus:OrdinaryShareClass1 2015-12-31 05256322 uk-bus:OrdinaryShareClass1 2014-12-31 05256322 uk-bus:OrdinaryShareClass2 2015-12-31 05256322 uk-lang:English 2015-01-01 2015-12-31 05256322 uk-curr:PoundSterling 2015-01-01 2015-12-31
COMPANY REGISTRATION NUMBER 05256322
TOMAC INVESTMENTS LIMITED
ABBREVIATED ACCOUNTS
31 December 2015
TOMAC INVESTMENTS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR OF TOMAC
INVESTMENTS LIMITED
YEAR ENDED 31ST DECEMBER 2015
As described on the balance sheet, the director of the company is responsible for the preparation of the abbreviated accounts for the year ended 31st December 2015.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited abbreviated accounts in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
W H AUDIT LIMITED Accountants
The White House Station Road West Hagley Stourbridge West Midlands DY9 ONU
11 March 2016
TOMAC INVESTMENTS LIMITED
ABBREVIATED BALANCE SHEET
31 December 2015
2015
2014
Note
£
£
£
FIXED ASSETS
2
Tangible assets
500,149
581,199
----------
----------
CURRENT ASSETS
Debtors
5,760
1,624
Cash at bank and in hand
15,095
26,844
---------
---------
20,855
28,468
CREDITORS: Amounts falling due within one year
68,067
68,807
---------
---------
NET CURRENT LIABILITIES
( 47,212)
( 40,339)
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
452,937
540,860
CREDITORS: Amounts falling due after more than one year
199,520
209,764
----------
----------
253,417
331,096
----------
----------
CAPITAL AND RESERVES
Called up equity share capital
3
102
2
Revaluation reserve
66,192
147,192
Profit and loss account
187,123
183,902
----------
----------
SHAREHOLDERS' FUNDS
253,417
331,096
----------
----------
For the year ended 31st December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on 11 March 2016 .
Mr M.A. McCabe Director
Company Registration Number: 05256322
TOMAC INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31ST DECEMBER 2015
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Fixed assets
All fixed assets are initially recorded at cost .
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings-25% on a reducing balance basis
Investment properties
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This is in accordance with the FRSSE which, unlike Schedule 4 to the Companies Act 1985, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2. FIXED ASSETS
Tangible Assets
£
COST OR VALUATION
At 1st January 2015
581,837
Revaluation
( 81,000)
----------
At 31st December 2015
500,837
----------
DEPRECIATION
At 1st January 2015
638
Charge for year
50
----
At 31st December 2015
688
----
NET BOOK VALUE
At 31st December 2015
500,149
----------
At 31st December 2014
581,199
----------
3. SHARE CAPITAL
Authorised share capital:
2015
2014
£
£
500 (2014 - 1,000) Ordinary A shares of £ 1 each
500
1,000
500 Ordinary B shares of £ 1 each
500
-
-------
-------
1,000
1,000
-------
-------
Allotted, called up and fully paid:
2015
2014
No
£
No
£
Ordinary A shares of £ 1 each
2
2
2
2
Ordinary B shares of £ 1 each
100
100
-
-
----
----
----
----
102
102
2
2
----
----
----
----
On 16th February 2015, the company restructured the share capital, redesignating 500 of the authorised shares to become B shares, recategorising the remaining ordinary shares as A shares, including the 2 already issued. In addition, 100 of the new B Ordinary shares were issued on 16th February 2015.
4. POST BALANCE SHEET EVENTS
On 18th January 2016, the company sold the investment property for £500,000.