Toka Marine Consultants Ltd 06999459 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is the provision of yacht broking services Digita Accounts Production Advanced 6.30.9574.0 true 06999459 2022-07-01 2023-06-30 06999459 2023-06-30 06999459 bus:Director1 1 2023-06-30 06999459 bus:OrdinaryShareClass2 2023-06-30 06999459 bus:OrdinaryShareClass3 2023-06-30 06999459 core:CurrentFinancialInstruments 2023-06-30 06999459 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06999459 core:Non-currentFinancialInstruments 2023-06-30 06999459 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 06999459 core:OfficeEquipment 2023-06-30 06999459 bus:SmallEntities 2022-07-01 2023-06-30 06999459 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 06999459 bus:FullAccounts 2022-07-01 2023-06-30 06999459 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 06999459 bus:RegisteredOffice 2022-07-01 2023-06-30 06999459 bus:Director1 2022-07-01 2023-06-30 06999459 bus:Director1 1 2022-07-01 2023-06-30 06999459 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 06999459 bus:OrdinaryShareClass3 2022-07-01 2023-06-30 06999459 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06999459 bus:Agent1 2022-07-01 2023-06-30 06999459 core:OfficeEquipment 2022-07-01 2023-06-30 06999459 countries:EnglandWales 2022-07-01 2023-06-30 06999459 2022-06-30 06999459 bus:Director1 1 2022-06-30 06999459 core:OfficeEquipment 2022-06-30 06999459 2021-07-01 2022-06-30 06999459 2022-06-30 06999459 bus:Director1 1 2022-06-30 06999459 bus:OrdinaryShareClass2 2022-06-30 06999459 bus:OrdinaryShareClass3 2022-06-30 06999459 core:CurrentFinancialInstruments 2022-06-30 06999459 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 06999459 core:Non-currentFinancialInstruments 2022-06-30 06999459 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 06999459 core:OfficeEquipment 2022-06-30 06999459 bus:Director1 1 2021-07-01 2022-06-30 06999459 bus:Director1 1 2021-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06999459

Toka Marine Consultants Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

image-name

Chartered Accountants

 

Toka Marine Consultants Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Toka Marine Consultants Ltd

Company Information

Director

T D C Walker

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Toka Marine Consultants Ltd
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Toka Marine Consultants Ltd for the year ended 30 June 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Toka Marine Consultants Ltd, as a body, in accordance with the terms of our engagement letter dated 15 May 2019. Our work has been undertaken solely to prepare for your approval the accounts of Toka Marine Consultants Ltd and state those matters that we have agreed to state to the Board of Directors of Toka Marine Consultants Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Toka Marine Consultants Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Toka Marine Consultants Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Toka Marine Consultants Ltd. You consider that Toka Marine Consultants Ltd 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 accounts of Toka Marine Consultants Ltd. 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 accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

16 January 2024

 

Toka Marine Consultants Ltd

(Registration number: 06999459)
Balance Sheet as at 30 June 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

1,875

 

865

Current assets

   

 

Stocks

5

-

 

14,052

 

Debtors

6

1,108,821

 

685,458

 

Cash at bank and in hand

 

36

 

281,614

 

 

1,108,857

 

981,124

 

Creditors: Amounts falling due within one year

7

(616,116)

 

(264,818)

 

Net current assets

   

492,741

 

716,306

Total assets less current liabilities

   

494,616

 

717,171

Creditors: Amounts falling due after more than one year

7

 

(155,830)

 

(194,493)

Net assets

   

338,786

 

522,678

Capital and reserves

   

 

Called up share capital

9

200

 

200

 

Profit and loss account

338,586

 

522,478

 

Shareholders' funds

   

338,786

 

522,678

For the financial year ending 30 June 2023 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 January 2024
 



T D C Walker
Director

 

Toka Marine Consultants Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

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:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company 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 company's activities.

Government grants

Revenue grants are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs, shall be recognised in income in the period in which it becomes receivable.

The company accessed a government backed Coronavirus Bounce Back Loan in 2020. The loan is 100% guaranteed by the government.

The company accessed a further loan under the Recovery Loan Scheme during the prior year. The loan is 80% guaranteed by the government.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Toka Marine Consultants Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Office equipment

25% straight line

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 company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 company 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.

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 company 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.

 

Toka Marine Consultants Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

4

Tangible assets

Office equipment
£

Total
£

Cost

At 1 July 2022

5,605

5,605

Additions

2,180

2,180

At 30 June 2023

7,785

7,785

Depreciation

At 1 July 2022

4,740

4,740

Charge for the year

1,170

1,170

At 30 June 2023

5,910

5,910

Carrying amount

At 30 June 2023

1,875

1,875

At 30 June 2022

865

865

5

Stocks

2023
£

2022
£

Other inventories

-

14,052

 

Toka Marine Consultants Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

53,883

-

Prepayments

1,219

2,013

Other debtors

1,053,719

683,445

 

1,108,821

685,458

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

112,727

35,264

Trade creditors

 

5,774

129,908

Taxation and social security

 

299,091

96,921

Accruals and deferred income

 

197,891

1,370

Other creditors

 

633

1,355

 

616,116

264,818

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

155,830

194,493

Creditors include bank loans repayable by instalments of £nil (2022 - £26,005) due after more than five years.

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

155,830

194,493

2023
£

2022
£

Current loans and borrowings

Bank borrowings

38,663

35,264

Bank overdrafts

74,064

-

112,727

35,264

 

Toka Marine Consultants Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

100

100

100

100

 

200

200

200

200

10

Related party transactions

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

T D C Walker

Director's Loan Account

(640,694)

(786,675)

560,218

(867,151)

         
       

 

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

T D C Walker

Director's Loan Account

(469,331)

(727,902)

556,539

(640,694)