Tomac Investments Limited Small abridged accounts

TOMAC INVESTMENTS LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Tomac Investments Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31st December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 05256322

TOMAC INVESTMENTS LIMITED

Filleted Unaudited Abridged Financial Statements

31 December 2017

TOMAC INVESTMENTS LIMITED

Abridged Financial Statements

Year ended 31st December 2017

Contents	Page

Officers and professional advisers	1

Accountants report to the director on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of financial position	3

Notes to the abridged financial statements	5

TOMAC INVESTMENTS LIMITED

Officers and Professional Advisers

Director	Mr M.A. McCabe

Company Secretary	Ms A.V. Wainwright

Registered Office	45 St. Julian's Crescent
	Shrewsbury
	Shropshire
	SY1 1UD

Accountants	W H Audit Limited
	Accountants
	The White House
	Station Road
	West Hagley
	Stourbridge
	West Midlands
	DY9 ONU

Bankers	Handelsbanken
	Michael Place
	Anchorage Avenue
	Shrewsbury Business Park
	Shrewsbury
	SY2 6FG

TOMAC INVESTMENTS LIMITED

Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Tomac Investments Limited

Year ended 31st December 2017

As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31st December 2017, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

W H Audit Limited Accountants

The White House Station Road West Hagley Stourbridge West Midlands DY9 ONU

21 February 2018

TOMAC INVESTMENTS LIMITED

Abridged Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		439,702	439,460

Current assets

Debtors	6	632	–
Cash at bank and in hand		38,315	18,751
		---------	---------
		38,947	18,751

Creditors: amounts falling due within one year	7	62,343		52,392
		---------		---------
Net current liabilities			23,396	33,641
			----------	----------
Total assets less current liabilities			416,306	405,819

Creditors: amounts falling due after more than one year	8	200,967	180,111
		----------	----------
Net assets		215,339	225,708
		----------	----------

Capital and reserves

Called up share capital	102	102
Profit and loss account	215,237	225,606
	----------	----------
Shareholders funds	215,339	225,708
	----------	----------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31st December 2017 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 abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

TOMAC INVESTMENTS LIMITED

Abridged Statement of Financial Position (continued)

31 December 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 21 February 2018 , and are signed on behalf of the board by:

Mr M.A. McCabe
Director

Company registration number: 05256322

TOMAC INVESTMENTS LIMITED

Notes to the Abridged Financial Statements

Year ended 31st December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 45 St. Julian's Crescent, Shrewsbury, Shropshire, SY1 1UD.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and Fitting	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

4. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2017	2016
	£	£
Dividends on ordinary B shares	27,500	25,000
	---------	---------

5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1st January 2017	439,348	837	440,185
Additions	270	–	270
	----------	----	----------
At 31st December 2017	439,618	837	440,455
	----------	----	----------
Depreciation
At 1st January 2017	–	725	725
Charge for the year	–	28	28
	----------	----	----------
At 31st December 2017	–	753	753
	----------	----	----------
Carrying amount
At 31st December 2017	439,618	84	439,702
	----------	----	----------
At 31st December 2016	439,348	112	439,460
	----------	----	----------

6. Debtors

	2017	2016
	£	£
Other debtors	632	–
	----	----

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Accruals and deferred income	3,747	1,665
Corporation tax	4,090	727
Social security and other taxes	4,506	–
Director loan accounts	50,000	50,000
	---------	---------
	62,343	52,392
	---------	---------

8. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Director loan accounts	200,967	180,111
	----------	----------

9. Director's advances, credits and guarantees

At the year end, the director's loan account balance was £250,967 (£230,111 - 2016).