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Registration number: 09977142

Toughtac Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2022

 

Toughtac Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Toughtac Limited

Company Information

 

Directors

RPA Systems Limited

Ms Dominique Martine Stallaerts

Registered office

3 Shipston Business Village
Tilemans Lane Industrial Estate
Shipston on Stour
Warwickshire
CV36 4FF

Accountants

Stratford Accounting Limited
57A Henley Street
Stratford upon Avon
Warwickshire
CV37 6PT

 

Toughtac Limited

(Registration number: 09977142)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

144,355

-

Current assets

 

Debtors

5

798,633

959,746

Cash at bank and in hand

 

30,739

116,323

 

829,372

1,076,069

Creditors: Amounts falling due within one year

6

(1,012,210)

(992,221)

Net current (liabilities)/assets

 

(182,838)

83,848

Total assets less current liabilities

 

(38,483)

83,848

Creditors: Amounts falling due after more than one year

6

(46,296)

(50,000)

Net (liabilities)/assets

 

(84,779)

33,848

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(84,879)

33,748

Shareholders' (deficit)/funds

 

(84,779)

33,848

For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 August 2022 and signed on its behalf by:
 

.........................................
Ms Dominique Martine Stallaerts
Director

 

Toughtac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Shipston Business Village
Tilemans Lane Industrial Estate
Shipston on Stour
Warwickshire
CV36 4FF

These financial statements were authorised for issue by the Board on 25 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.

The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.

 

Toughtac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Toughtac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2021 - 1).

 

Toughtac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

Additions

160,394

160,394

At 31 January 2022

160,394

160,394

Depreciation

Charge for the year

16,039

16,039

At 31 January 2022

16,039

16,039

Carrying amount

At 31 January 2022

144,355

144,355

5

Debtors

Current

2022
£

2021
£

Trade debtors

728,287

863,412

Prepayments

65,769

-

Other debtors

4,577

96,334

 

798,633

959,746

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

4,550

4,488

Taxation and social security

-

4,377

Accruals and deferred income

725,787

854,985

Other creditors

281,873

128,371

1,012,210

992,221

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

46,296

50,000

 

Toughtac Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

46,296

50,000

9

Related party transactions

Summary of transactions with parent

RPA Systems Limited
Toughtac Limited is wholly owned by RPA Systems Limited.