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REGISTERED NUMBER: 07981079 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2022

FOR

TOMAX TECHNOLOGY LIMITED

TOMAX TECHNOLOGY LIMITED (REGISTERED NUMBER: 07981079)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOMAX TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2022







DIRECTORS: A D Levy
S K Sorensen





REGISTERED OFFICE: Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL





REGISTERED NUMBER: 07981079 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

TOMAX TECHNOLOGY LIMITED (REGISTERED NUMBER: 07981079)

BALANCE SHEET
30 DECEMBER 2022

30.12.22 30.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,006 18,986
Tangible assets 5 12,292 3,358
Investments 6 9,743 4,943
34,041 27,287

CURRENT ASSETS
Stocks 79,841 120,718
Debtors 7 726,118 804,562
Cash at bank 9,759 5,722
815,718 931,002
CREDITORS
Amounts falling due within one year 8 2,263,305 1,687,691
NET CURRENT LIABILITIES (1,447,587 ) (756,689 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,413,546

)

(729,402

)

CREDITORS
Amounts falling due after more than one
year

9

-

93,750
NET LIABILITIES (1,413,546 ) (823,152 )

CAPITAL AND RESERVES
Called up share capital 11 40 40
Capital redemption reserve 60 60
Retained earnings (1,413,646 ) (823,252 )
SHAREHOLDERS' FUNDS (1,413,546 ) (823,152 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TOMAX TECHNOLOGY LIMITED (REGISTERED NUMBER: 07981079)

BALANCE SHEET - continued
30 DECEMBER 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





A D Levy - Director


TOMAX TECHNOLOGY LIMITED (REGISTERED NUMBER: 07981079)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2022


1. STATUTORY INFORMATION

Tomax Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Tomax Technology Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Turnover relating to the sale of computer products are recognised at the earlier of when the goods are invoiced or are dispatched to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been amortised evenly over its estimated useful life of 5 years.

Intangible assets other than goodwill
Intangible assets, other than goodwill, are initially measured at cost. After initial recognition, they are measured at cost less any accumulated amortisation and accumulated impairment losses. Intangible assets, other than goodwill, are amortised evenly over their estimated useful life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost or estimated selling price. Cost includes all costs of purchase, costs of conversion and other cost incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Selling price is defined as the amount the company can reasonably expect to receive on the sale of goods.


TOMAX TECHNOLOGY LIMITED (REGISTERED NUMBER: 07981079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2022


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2021 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 31 December 2021
and 30 December 2022 106,646 20,940 127,586
AMORTISATION
At 31 December 2021 106,646 1,954 108,600
Charge for year - 6,980 6,980
At 30 December 2022 106,646 8,934 115,580
NET BOOK VALUE
At 30 December 2022 - 12,006 12,006
At 30 December 2021 - 18,986 18,986

TOMAX TECHNOLOGY LIMITED (REGISTERED NUMBER: 07981079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2022


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 December 2021 40,964
Additions 13,041
Disposals (14,215 )
At 30 December 2022 39,790
DEPRECIATION
At 31 December 2021 37,606
Charge for year 4,107
Eliminated on disposal (14,215 )
At 30 December 2022 27,498
NET BOOK VALUE
At 30 December 2022 12,292
At 30 December 2021 3,358

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 31 December 2021 4,943
Additions 4,800
At 30 December 2022 9,743
NET BOOK VALUE
At 30 December 2022 9,743
At 30 December 2021 4,943

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.22 30.12.21
£    £   
Trade debtors 188,857 233,032
Amounts owed by group undertakings 384,526 499,640
Other debtors 152,735 71,890
726,118 804,562

TOMAX TECHNOLOGY LIMITED (REGISTERED NUMBER: 07981079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2022


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.22 30.12.21
£    £   
Bank loans and overdrafts 361,803 210,187
Trade creditors 70,862 144,890
Amounts owed to group undertakings 1,619,204 901,280
Taxation and social security 70,444 156,615
Other creditors 140,992 274,719
2,263,305 1,687,691

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.12.22 30.12.21
£    £   
Bank loans - 93,750

10. SECURED DEBTS

The following secured debts are included within creditors:

30.12.22 30.12.21
£    £   
Bank overdrafts 268,053 85,187
Bank loans 93,750 218,750
361,803 303,937

HSBC Bank Plc hold a fixed and floating charge, dated 2 December 2014, over all of the company's assets.

A director has provided a personal guarantee of £300,000 to the company's bankers.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.12.22 30.12.21
value: £    £   
4,012 Ordinary £0.01 40 40

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 December 2022 and 30 December 2021:

30.12.22 30.12.21
£    £   
A D Levy
Balance outstanding at start of year (151,626 ) (151,626 )
Amounts advanced 50,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (101,626 ) (151,626 )

All loans are interest free.

TOMAX TECHNOLOGY LIMITED (REGISTERED NUMBER: 07981079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2022


13. GOING CONCERN

The company has net liabilities of £1,413,546 (2021 - net assets of £823,152) at the balance sheet date.

The accounts have been prepared on a going concern basis, the validity of which is dependent on the continuing support of related companies.