REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 DECEMBER 2022 |
FOR |
TOMAX TECHNOLOGY LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Capital redemption reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 31 December 2021 |
and 30 December 2022 |
AMORTISATION |
At 31 December 2021 |
Charge for year |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
At 30 December 2021 |
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 |
Additions |
Disposals | ( |
) |
At 30 December 2022 |
DEPRECIATION |
At 31 December 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
At 30 December 2021 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 31 December 2021 |
Additions |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
At 30 December 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.22 | 30.12.21 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
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 |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.12.22 | 30.12.21 |
£ | £ |
Bank loans |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.12.22 | 30.12.21 |
£ | £ |
Bank overdrafts |
Bank loans |
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: | £ | £ |
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 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
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. |