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REGISTERED NUMBER: 01364619 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

TONKS SHOES LIMITED

TONKS SHOES LIMITED (REGISTERED NUMBER: 01364619)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TONKS SHOES LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: M J Tonks
M M Tonks
Mrs A M Tonks





SECRETARY: Mrs A M Tonks





REGISTERED OFFICE: 35 Kingshill Court
Standish
Wigan
Lancashire
WN6 0AR





REGISTERED NUMBER: 01364619 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

TONKS SHOES LIMITED (REGISTERED NUMBER: 01364619)

STATEMENT OF FINANCIAL POSITION
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,995 28,741
Tangible assets 5 163,812 113,570
191,807 142,311

CURRENT ASSETS
Stocks 1,103,883 967,637
Debtors 6 344,504 67,302
Cash at bank and in hand 160,794 766,842
1,609,181 1,801,781
CREDITORS
Amounts falling due within one year 7 928,091 1,083,276
NET CURRENT ASSETS 681,090 718,505
TOTAL ASSETS LESS CURRENT
LIABILITIES

872,897

860,816

CREDITORS
Amounts falling due after more than one
year

8

(113,657

)

(167,473

)

PROVISIONS FOR LIABILITIES 10 (61,888 ) (48,731 )
NET ASSETS 697,352 644,612

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 15,448 30,896
Retained earnings 681,804 613,616
SHAREHOLDERS' FUNDS 697,352 644,612

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

TONKS SHOES LIMITED (REGISTERED NUMBER: 01364619)

STATEMENT OF FINANCIAL POSITION - continued
31 July 2023


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 30 January 2024 and were signed on its behalf by:





M J Tonks - Director


TONKS SHOES LIMITED (REGISTERED NUMBER: 01364619)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Tonks Shoes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going concern
The Directors have continued to monitor the trading and cash position in the period to date and have looked at the cash projections for the next 12 months.

The Directors consider that the business remains a going concern and the accounts have therefore been prepared on that basis.

Revenue recognition
The turnover shown in the profit and loss account represents the value of all goods sold during the year, exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations.

Intangible assets
Franchise set up costs paid are being amortised on a straight line basis over their anticipated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 12.5% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised.

Financial instruments
The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan
accounts, trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically Directors' loan accounts, trade
creditors, accruals and trade debtors, are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.


TONKS SHOES LIMITED (REGISTERED NUMBER: 01364619)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 105 (2022 - 105 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022 50,816
Additions 10,000
At 31 July 2023 60,816
AMORTISATION
At 1 August 2022 22,075
Charge for year 10,746
At 31 July 2023 32,821
NET BOOK VALUE
At 31 July 2023 27,995
At 31 July 2022 28,741

TONKS SHOES LIMITED (REGISTERED NUMBER: 01364619)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 599,427 24,700 10,965 635,092
Additions 100,229 - 1,555 101,784
At 31 July 2023 699,656 24,700 12,520 736,876
DEPRECIATION
At 1 August 2022 501,124 10,806 9,592 521,522
Charge for year 47,054 3,474 1,014 51,542
At 31 July 2023 548,178 14,280 10,606 573,064
NET BOOK VALUE
At 31 July 2023 151,478 10,420 1,914 163,812
At 31 July 2022 98,303 13,894 1,373 113,570

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 86,398 67,302

Amounts falling due after more than one year:
Amounts owed by group undertakings 258,106 -

Aggregate amounts 344,504 67,302

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 74,413 63,243
Hire purchase contracts - 8,697
Trade creditors 593,210 649,576
Taxation and social security 59,734 89,981
Other creditors 200,734 271,779
928,091 1,083,276

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 91,376 167,473
Other creditors 22,281 -
113,657 167,473

TONKS SHOES LIMITED (REGISTERED NUMBER: 01364619)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 165,789 230,716

The bank loans are secured by a fixed and floating charge registered by National Westminster Bank PLC on 11th July 2019.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 31,888 18,731
Dilapidation 30,000 30,000
61,888 48,731

Deferred Dilapidati
tax on
£    £   
Balance at 1 August 2022 18,731 30,000
Charge to Income Statement during year 13,157 -
Balance at 31 July 2023 31,888 30,000

The dilapidation provision relates to contractual obligations of the Company on surrender of a property lease to re-instate the premises to the same state and condition as before occupancy, making good any and all damages.

11. RESERVES
Revaluation
reserve
£   
At 1 August 2022 30,896
Transfer of excess depn (15,448 )

At 31 July 2023 15,448

12. PENSION COMMITMENTS

The company makes payments to defined contribution pension schemes for its directors and employees. At the balance sheet date there were unpaid employer contributions of £2,396 (2022 – £1,761). These have been included in other creditors.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M J Tonks, by means of his shareholding in the parent company, Tonks Holdings Limited.