Relate AccountsProduction v2.7.3 v2.7.3 2022-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of plumbing, heating and air-conditioning installation 29 March 2024 08110168 2023-07-31 08110168 2022-07-31 08110168 2021-07-31 08110168 2022-08-01 2023-07-31 08110168 2021-08-01 2022-07-31 08110168 uk-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08110168 uk-curr:PoundSterling 2022-08-01 2023-07-31 08110168 uk-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 08110168 uk-bus:FullAccounts 2022-08-01 2023-07-31 08110168 uk-bus:Director1 2022-08-01 2023-07-31 08110168 uk-bus:RegisteredOffice 2022-08-01 2023-07-31 08110168 uk-bus:Agent1 2022-08-01 2023-07-31 08110168 uk-core:ShareCapital 2023-07-31 08110168 uk-core:ShareCapital 2022-07-31 08110168 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 08110168 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 08110168 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 08110168 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-07-31 08110168 uk-bus:FRS102 2022-08-01 2023-07-31 08110168 uk-core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 08110168 uk-core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 08110168 uk-core:CurrentFinancialInstruments 2023-07-31 08110168 uk-core:CurrentFinancialInstruments 2022-07-31 08110168 uk-core:WithinOneYear 2023-07-31 08110168 uk-core:WithinOneYear 2022-07-31 08110168 uk-core:WithinOneYear 2023-07-31 08110168 uk-core:WithinOneYear 2022-07-31 08110168 uk-core:AfterOneYear 2023-07-31 08110168 uk-core:AfterOneYear 2022-07-31 08110168 uk-core:BetweenOneTwoYears 2023-07-31 08110168 uk-core:BetweenOneTwoYears 2022-07-31 08110168 uk-core:BetweenTwoFiveYears 2023-07-31 08110168 uk-core:BetweenTwoFiveYears 2022-07-31 08110168 2022-08-01 2023-07-31 08110168 uk-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 08110168
 
 
Toner Mechanical & Electrical Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 July 2023
Toner Mechanical & Electrical Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Mr. Michael Toner
 
 
Company Registration Number 08110168
 
 
Registered Office Kemp House
152-160 City Road
London
EC1V 2NX
England
 
 
Business Address 15 Gazette Arcade
Linenhall Street
Armagh
BT61 7PU
 
 
Accountants Muldoon & Co
16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland



Toner Mechanical & Electrical Ltd
Company Registration Number: 08110168
BALANCE SHEET
as at 31 July 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 44,492 20,292
───────── ─────────
 
Current Assets
Stocks 5 70,000 70,000
Debtors 6 617,570 1,164,614
Cash and cash equivalents 622,618 323,002
───────── ─────────
1,310,188 1,557,616
───────── ─────────
Creditors: amounts falling due within one year 7 (718,094) (996,009)
───────── ─────────
Net Current Assets 592,094 561,607
───────── ─────────
Total Assets less Current Liabilities 636,586 581,899
 
Creditors:
amounts falling due after more than one year 8 (82,803) (137,203)
───────── ─────────
Net Assets 553,783 444,696
═════════ ═════════
 
Capital and Reserves
Called up share capital 10 10
Retained earnings 553,773 444,686
───────── ─────────
Equity attributable to owners of the company 553,783 444,696
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 29 March 2024
           
           
________________________________          
Mr. Michael Toner          
Director          
           



Toner Mechanical & Electrical Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 July 2023

   
1. General Information
 
Toner Mechanical & Electrical Ltd is a company limited by shares incorporated and registered in the England. The registered number of the company is 08110168. The registered office of the company is Kemp House, 152-160 City Road, London, EC1V 2NX, England. The principal activity of the company is that of plumbing, heating and air-conditioning installation The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 July 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Reducing balance
  Racehorse - 3 Years
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at 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 where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Research and development
Development expenditure is written off to the Profit and Loss Account in the financial year in which it is incurred.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was
 
  2023 2022
  Number Number
 
Director 1 1
Employee 5 6
  ───────── ─────────
  6 7
  ═════════ ═════════
         
4. Tangible assets
  Fixtures, Racehorse Total
  fittings and    
  equipment    
  £ £ £
Cost
At 1 August 2022 39,091 - 39,091
Additions 3,899 34,260 38,159
  ───────── ───────── ─────────
At 31 July 2023 42,990 34,260 77,250
  ───────── ───────── ─────────
Depreciation
At 1 August 2022 18,799 - 18,799
Charge for the financial year 2,539 11,420 13,959
  ───────── ───────── ─────────
At 31 July 2023 21,338 11,420 32,758
  ───────── ───────── ─────────
Net book value
At 31 July 2023 21,652 22,840 44,492
  ═════════ ═════════ ═════════
At 31 July 2022 20,292 - 20,292
  ═════════ ═════════ ═════════
       
5. Stocks 2023 2022
  £ £
 
Work in progress 70,000 70,000
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2023 2022
  £ £
 
Trade debtors 189,737 1,016,876
Director's current account (Note 10) 356,201 48,527
Taxation  (Note 9) 66,295 84,139
Prepayments and accrued income 5,337 15,072
  ───────── ─────────
  617,570 1,164,614
  ═════════ ═════════
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank overdrafts - 48,385
Bank loan 58,274 52,176
Trade creditors 482,769 584,763
Taxation  (Note 9) 72,031 62,199
Accruals 105,020 248,486
  ───────── ─────────
  718,094 996,009
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 82,803 137,203
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 58,274 100,561
Repayable between one and two years 82,803 30,000
Repayable between two and five years - 107,203
  ───────── ─────────
  141,077 237,764
  ═════════ ═════════
 
       
9. Taxation 2023 2022
  £ £
 
Debtors:
VAT 66,295 84,139
  ═════════ ═════════
Creditors:
Corporation tax 51,415 52,927
PAYE / NI 20,616 9,272
  ───────── ─────────
  72,031 62,199
  ═════════ ═════════
   
10. Director's advances, credits and guarantees
 
At the year end, the Directors Current Account was overdrawn, interest of 2% was charged on this and it was repaid within 9 months of the year end.