Tomo Parts Limited - Accounts

Tomo Parts Limited - Accounts

TOMO PARTS LIMITED - Company Information

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2015-04-01 true false Private Limited Company 03862297 2015-04-01 2016-03-31 03862297 2016-03-31 03862297 uk-bus:RegisteredOffice 2015-04-01 2016-03-31 03862297 uk-bus:AllEntityOfficers 2015-04-01 2016-03-31 03862297 uk-bus:EntityAccountantsOrAuditors 2015-04-01 2016-03-31 03862297 uk-bus:EntityAccountantsOrAuditors 2016-03-31 03862297 uk-gaap:WithinOneYear 2016-03-31 03862297 uk-bus:Director1 2015-04-01 2016-03-31 03862297 uk-bus:Director1 2016-03-31 03862297 uk-bus:Director1 2014-01-01 2015-03-31 03862297 uk-bus:Director2 2015-04-01 2016-03-31 03862297 uk-bus:Director2 2016-03-31 03862297 uk-bus:Director2 2014-01-01 2015-03-31 03862297 2014-01-01 03862297 uk-bus:EntityBankers 2015-04-01 2016-03-31 03862297 uk-bus:CompanySecretary 2015-04-01 2016-03-31 03862297 uk-bus:EntityLawyersOrLegalAdvisers 2015-04-01 2016-03-31 03862297 2014-01-01 2015-03-31 03862297 2015-03-31 03862297 uk-gaap:WithinOneYear 2015-03-31 03862297 uk-bus:AllEntityOfficers 2014-01-01 2015-03-31 03862297 uk-bus:EntityAccountantsOrAuditors 2014-01-01 2015-03-31 03862297 uk-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 03862297 uk-bus:OrdinaryShareClass1 2016-03-31 03862297 uk-bus:OrdinaryShareClass1 2014-01-01 2015-03-31 03862297 uk-bus:OrdinaryShareClass1 2015-03-31 03862297 uk-bus:AllOrdinaryShares uk-gaap:DividendsPaid 2015-04-01 2016-03-31 03862297 uk-gaap:PlantMachinery 2015-04-01 2016-03-31 03862297 uk-gaap:PlantMachinery 2016-03-31 03862297 uk-gaap:PlantMachinery 2015-03-31 03862297 uk-gaap:MotorCars 2015-04-01 2016-03-31 03862297 uk-gaap:MotorCars 2016-03-31 03862297 uk-gaap:MotorCars 2015-03-31 03862297 uk-gaap:FixturesFittings 2015-04-01 2016-03-31 03862297 uk-gaap:FixturesFittings 2016-03-31 03862297 uk-gaap:FixturesFittings 2015-03-31 03862297 uk-gaap:ComputerEquipment 2015-04-01 2016-03-31 03862297 uk-gaap:ComputerEquipment 2016-03-31 03862297 uk-gaap:ComputerEquipment 2015-03-31 03862297 uk-gaap:OtherIntangibleFixedAssets 2015-04-01 2016-03-31 03862297 uk-gaap:OtherIntangibleFixedAssets 2016-03-31 03862297 uk-gaap:OtherIntangibleFixedAssets 2015-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number : 03862297
England and Wales

 

 

 

TOMO PARTS LIMITED


Abbreviated Accounts
 


Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

Tomo Parts Limited
Contents Page
For the year ended 31 March 2016
As described in the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2016 and 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 financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tomo Parts Limited for the year ended 31 March 2016 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Tomo Parts Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tomo Parts Limited and state those matters that we have agreed to state to the Board of Directors of Tomo Parts Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tomo Parts Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tomo Parts Limited. You consider that Tomo Parts Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tomo Parts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF
10 November 2016
1
 
 		 Notes
 		 2016
£		   2015
£
Fixed assets      
Intangible fixed assets 2 23,284    - 
Tangible fixed assets 3 52,228    47,651 
75,512    47,651 
Current assets      
Stocks 232,696    228,604 
Debtors 731,565    665,089 
Cash at bank and in hand 8,045    18,140 
972,306    911,833 
Creditors: amount falling due within one year (916,473)   (849,493)
Net current assets 55,833    62,340 
Total assets less current liabilities 131,345    109,991 
Provisions for liabilities (8,566)   (7,942)
Net assets 122,779    102,049 

Capital and reserves 		     
Called up share capital 4 1,000    1,000 
Profit and loss account 121,779    101,049 
Shareholders funds 122,779    102,049 


For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Signed on behalf of the board of directors


--------------------------------
Darren Perkins
Director

Date approved by the board: 10 November 2016
2
1.

Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs

Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 4 years.
Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Motor Vehicles 33% Reducing Balance
Plant and Machinery 33% Reducing Balance
Assets on finance lease and hire purchase

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges

The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
2.

Intangible fixed assets

Cost or Valuation Other   Total
  £   £
At 01 April 2015 -    - 
Additions 31,045    31,045 
Disposals -    - 
At 31 March 2016 31,045    31,045 
Amortisation
At 01 April 2015 -    - 
Charge for year 7,761    7,761 
On disposals -    - 
At 31 March 2016 7,761    7,761 
Net book values
At 31 March 2016 23,284    23,284 
At 01 April 2015 -    - 


3.

Tangible fixed assets

Cost or Valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2015 3,000    63,281    108,647    -    174,928 
Additions -    15,780    (22,561)   31,045    24,264 
Disposals -    -    -    -    - 
At 31 March 2016 3,000    79,061    86,086    31,045    199,192 
Depreciation
At 01 April 2015 2,209    58,503    66,565    -    127,277 
Charge for year 261    6,785    12,641    -    19,687 
On disposals -    -    -    -    - 
At 31 March 2016 2,470    65,288    79,206    -    146,964 
Net book values
At 31 March 2016 530    13,773    6,880    31,045    52,228 
At 01 April 2015 791    4,778    42,082    -    47,651 


4.

Share Capital

Allotted
2016
£		   2015
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

5.

Secured Debts

The bank overdraft included within creditors totalling £85,478 (2015; £Nil) is secured by way of personal guarantee by the company's directors, Darren Perkins and Dean Perkins.
6.

Ultimate Controlling Party

The company is a wholly owned subsidiary of Tomo Motor Group Ltd which is under the control of the company's directors Darren Perkins and Dean Perkins along with David Perkins and Shirley Perkins.
3