Company Registration No. 07224807 (England and Wales)
TOMPSETT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
TOMPSETT LIMITED
COMPANY INFORMATION
Directors
Mr O Tompsett
Mrs M Tompsett
Company number
07224807
Registered office
2 Merland Rise
Epsom
Surrey
KT18 5RZ
Accountants
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Starling Bank Limited
3rd Floor
2 Finsbury Avenue
London
EC2M 2PP
TOMPSETT LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
TOMPSETT LIMITED
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TOMPSETT LIMITED FOR THE YEAR ENDED 31 MAY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tompsett Limited for the year ended 31 May 2023 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

 

It is your duty to ensure that Tompsett 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 Tompsett Limited. You consider that Tompsett Limited is exempt from the statutory audit requirement for the year.

Theataccounts Limited
28 July 2023
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
TOMPSETT LIMITED
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
434
1,055
Current assets
Debtors
4
3,020
3,125
Cash at bank and in hand
47,380
34,682
50,400
37,807
Creditors: amounts falling due within one year
5
(33,248)
(26,141)
Net current assets
17,152
11,666
Total assets less current liabilities
17,586
12,721
Creditors: amounts falling due after more than one year
6
(4,167)
(6,167)
Net assets
13,419
6,554
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
13,319
6,454
Total equity
13,419
6,554

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

TOMPSETT LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023
31 May 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 28 July 2023 and are signed on its behalf by:
Mr O Tompsett
Director
Company Registration No. 07224807
TOMPSETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
1
Accounting policies
Company information

Tompsett Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Merland Rise, Epsom, Surrey, KT18 5RZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion and where the amount of revenue can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% on cost
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

TOMPSETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).

3
Tangible fixed assets
Computer equipment
£
Cost
At 1 June 2022
3,515
Additions
324
At 31 May 2023
3,839
Depreciation and impairment
At 1 June 2022
2,460
Depreciation charged in the year
945
At 31 May 2023
3,405
Carrying amount
At 31 May 2023
434
At 31 May 2022
1,055
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,020
3,125
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,000
2,000
Corporation tax
22,374
14,968
Other taxation and social security
7,874
8,221
Other creditors
1,000
952
33,248
26,141
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,167
6,167
TOMPSETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
60 Ordinary A of £1 each
60
60
40 Ordinary B of £1 each
40
40
100
100
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