Registered number
03404280
TOMTOM LIMITED
Annual Report and Audited Accounts
31 December 2022
TOMTOM LIMITED
Annual Report and Audited Accounts
Contents
Page
Company information 1
Director's report 2
Independent auditor's report 3-5
Profit and loss account 6
Statement of comprehensive income 7
Balance sheet 8
Statement of changes in equity 9
Notes to the Financial Statements 10-17
TOMTOM LIMITED
Company Information
Director
Mr. Munir Khalil Ali
Auditors
KZ Auditors
22 Arthur Road
Chadwell Health,
Greater London
RM6 4NL
Registered office
63 Elizabeth Street
London
United Kingdom
SW1W 9PP
Registered number
03404280
TOMTOM LIMITED
Registered number: 03404280
Director's Report
The director presents his report and accounts for the year ended 31 December 2022.
Principal Activities:
The principal activities of Tomtom Limited (the "company") include the following:

- Retail sales of tobacco products in specialised stores;
- Other retail sales of food and drinks in specialised stores; and
- Licensed restaurants
Directors
Mr. Jose Abelardo Cure Barrios served as a Director till his resignation on 26 Apr 2022.

The following person was appointed as the new Director of the company as of 26 April 2022:
Mr. Munir Khalil Ali
Director's responsibilities
The Director is responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the director to prepare accounts for each financial year. Under that law, the director has elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the accounts unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements,
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the accounts comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
The director at the date of approving this report is aware, there is no relevant audit information of which the company's auditor is unaware. Additionally, the director has taken all the necessary steps that he ought to has taken as director in order to make himself aware of all relevant information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the special provisions relating to small companies entitle to the small companies exemption.
This report was approved by the board on 23 November 2023 and signed on its behalf.
Mr. Munir Khalil Ali
Director
TOMTOM LIMITED
Independent auditor's report
to the member of TOMTOM LIMITED
Opinion
We have audited the accounts of TOMTOM LIMITED (the 'company') for the year ended 31 December 2022 which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and notes to the accounts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 101 ' Reduced Disclosure Framework ' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
give a true and fair view of the state of the company's affairs as at 31 December 2022 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material Uncertainity relating to going concern
We draw attention to the note going concern on page 10 in the financial statements, which indicates that the company incurred a net loss of £409,226 during the year ended 31 December 2022 and, as of that date, the company's current liabilities exceeded its total assets by £1,769,318. These conditions, along with other matters as set forth in the going concern note on page 8 indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Other information
The other information comprises the information included in the annual report other than the accounts and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the directors’ report for the financial year for which the accounts are prepared is consistent with the accounts; and
the directors’ report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the accounts are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the director is responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the accounts is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with director and other management, and from our commercial knowledge and experience of the financial services sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, anti-money-laundering, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the an susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
understanding the design of the company's remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates;
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with HMRC, relevant regulators.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or through collusion.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Ahmed Malik
(Senior Statutory Auditor) 22 Arthur Road
for and on behalf of Chadwell Health,
KZ Auditors Greater London
Statutory Auditor
23 November 2023 RM6 4NL
TOMTOM LIMITED
Profit and Loss Account
for the year ended 31 December 2022
Notes 2022 2021
£ £
Turnover 3.1 1,503,230 904,227
Cost of sales (781,441) (370,462)
Gross profit 721,789 533,765
Administrative expenses (1,043,893) (808,864)
Other operating income 8,605 128,588
Operating loss 3.3 (313,499) (146,511)
Interest payable 3.4 (95,727) (71,686)
Loss before taxation on ordinary activities (409,226) (218,197)
Tax on loss - -
Loss for the financial year (409,226) (218,197)
TOMTOM LIMITED
Statement of comprehensive income
for the year ended 31 December 2022
2022 2021
£ £
Loss for the financial year (409,226) (218,197)
Other comprehensive income - -
Total comprehensive income for the year (409,226) (218,197)
TOMTOM LIMITED
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 1,039,234 1,280,067
Investments 5 2 2
1,039,236 1,280,069
Current assets
Stocks 223,222 129,947
Debtors 6 79,770 30,622
Cash at bank and in hand 119,725 33,406
422,717 193,975
Creditors: amounts falling due within one year 7 (2,906,185) (2,376,183)
Net current liabilities (2,483,468) (2,182,208)
Total assets less current liabilities (1,444,232) (902,139)
Creditors: amounts falling due after more than one year 8 (325,086) (457,953)
Net liabilities (1,769,318) (1,360,092)
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,769,319) (1,360,093)
Shareholder's funds (1,769,318) (1,360,092)
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Munir Khalil Ali
Director
Approved by the board on 23 November 2023
TOMTOM LIMITED
Statement of Changes in Equity
for the year ended 31 December 2022
Share Profit Total
capital and loss
account
Notes £ £ £
At 1 January 2021 1 (1,141,896) (1,141,895)
Loss for the financial year 10 (218,197) (218,197)
At 31 December 2021 1 (1,360,093) (1,360,092)
At 1 January 2022 1 (1,360,093) (1,360,092)
Loss for the financial year 10 (409,226) (409,226)
At 31 December 2022 1 (1,769,319) (1,769,318)
TOMTOM LIMITED
Notes to the Financial Statements
for the year ended 31 December 2022
1 Statutory Information
Tomtom Limited is a private company, limited by shares, registered in England and Wales, registration number 03404280. The registered office is 63 Elizabeth Street, London, SW1W 9PP, United Kingdom.
Compliance with accounting standards
The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework applicable in the UK and Republic of Ireland (FRS 101), applicable accounting standards and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company has taken advantage of the following disclosure exemptions under FRS101:

the requirements of IAS 7 Statement of Cash Flows;
the requirements of IFRS7 Financial Instruments: Disclosures; and
the requirements in IAS 24 Related Party Disclosures to disclose related part transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
2 Accounting policies
Basis of preparation
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group. Tomtom Limited is a wholly owned subsidiary of a BNK Capital for General Trading SPC and the results of Tomtom Limited are included in the consolidated financial statements of BNK Capital for General Trading Al-Qibla, Block 6, Salah Al-Deen st, Al-Qibla National Company Complex, Floor 1, Office 15, State of Kuwait.
Going Concern
The company incurred a net loss of £409,226 (2021: £218,197) during the year ended 31 December 2022 and as of that date the company's total liabilities exceeded its total assets by £1,769,318 (2021: £1,360,092). The accounts have been prepared on a going concern basis, as group management and ultimately controlling party has given the assurance that the group will continue to support the operational existence for the foreseeable future. Thus, the director continued to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
A revenue contract is entered into by the customer when an order is placed. The Company's performance obligations are to provide the food, drinks, and other merchandise ordered by the customers. The performance obligations are satisfied, and revenue recognised, at the point in time that goods are handed to the customer, which is when the control passes to the customer.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The company has elected to account for short-term leases and leases of low-value assets using the practical expedients. Instead of recognising a right-of-use asset and lease liability, the payments in relation to these are recognised as an expense in profit or loss on a straight-line basis over the lease term. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
Plant and machinery 25% reducing balance
Leasehold land and buildings over the lease term
Computer equipment 25% on cost
Refurbishments over 7 years
Fixtures and Fittings 25% reducing balance
Investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognise immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long-term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
Impairment of Fixed Assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognise as an impairment loss in profit or loss. Reversals of impairment losses are also recognise in profit or loss.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognise at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. The management decided to reclassify the intercompany loan due more than more to less than one year including comparative.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognise as liabilities once they are no longer at the discretion of the company.
Employee benefits
The costs of short-term employee benefits are recognise as a liability and an expense, unless those costs are required to be recognise as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognise in the period in which the employee s services are received.

Termination benefits are recognise immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leased assets
At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognise a right-of-use asset and a lease liability at the lease commencement date. Current right-of-use asset is included within land and building leasehold.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of other land and building leasehold. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain re-measurements of the lease liability.
Leased liabilities
The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the company s incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee. Subsequent to initial measurement, the liability will be reduced for payments made and increased for interest. It is remeasured to reflect any reassessment or modification, or if there are changes in in-substance fixed payments.
Government grants
A grant that specifies performance conditions is recognise in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognise in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognise as a liability.
Judgements and key sources of estimation uncertainity
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognise in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3.1 Turnover
An analysis of turnover by geographic market is given below:
2022 2021
£ £
United Kingdom 1,503,230 904,227
3.2 Employees & Director 2022 2021
Number Number
Wages and Salaries 431,654 358,268
Social Security Costs 34,833 27,270
Pension Costs 7,700 7,368
Director Remuneration - -
Total Employee Costs 474,187 392,906
Average number of persons employed by the company 17 15
The company operates a contribution pension scheme on behalf of the employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs represent contributions payable by the company to the fund.
3.3 Operating Loss
The operating loss is reported after charging the following: 2022 2021
£ £
Depreciation Owned Assets 138,106 109,999
Depreciation ROU Assets 108,933 118,746
Auditor's Remuneration 6,500 6,500
Foreign Currency Exchange Losses 32,768 -
3.4 Interest Payable and Similar Charges 2022 2021
£ £
Interest Expense - Lease liabilities 20,313 26,640
Interest Expense 75,414 45,046
95,727 71,686
3.5 Taxation 2022 2021
£ £
Current Tax - -
The charge for the year can be reconciled to the loss per the income statement as follows:
2022 2021
£ £
Loss before taxation (409,226) (218,197)
Loss on ordinary activities before taxation multiplied by standard rate of UK corporation tax of 19% (2021: 19%) (77,753) (41,457)
Taxation impact of factors affecting tax charge:
Effect of expenses not deductible in determining taxable profit 208 498
Unutilised tax losses carried forward 68,087 41,765
Capital allowances claimed during the year (37,479) (44,268)
Depreciation on assets not qualifying for tax allowances 46,937 43,462
Taxation charge for the year - -
The company has tax losses carried forward as at 31 December 2022 of £1,630,939 (2021: 1,272,590). A deferred tax asset has not been recognised in respect of the losses due to the uncertainty as to the timing of future taxable profits.
4 Tangible fixed assets
Leasehold Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2022 838,212 1,209,754 2,047,966
Additions - 6,206 6,206
At 31 December 2022 838,212 1,215,960 2,054,172
Depreciation
At 1 January 2022 348,260 419,639 767,899
Charge for the year 108,933 138,106 247,039
At 31 December 2022 457,193 557,745 1,014,938
Net book value
At 31 December 2022 381,019 658,215 1,039,234
At 31 December 2021 489,952 790,115 1,280,067
5 Investments Investments in subsidiary undertakings
£
Cost
Valuation at 1 January 2022 2
Valuation at 31 December 2022 2
Investment in subsidiaries are accounted for at cost less impairment in the individual financial statements. Coffee & Bread Limited, incorporated in United Kingdom, is a wholly owned subsidiary of Tomtom Limited, which has been dormant through the entire year.
6 Debtors: amounts falling due within one year 2022 2021
£ £
Trade debtors 39,109 13,057
Other debtors 8,319 8,319
Accrued Income and Prepayments 32,342 9,246
79,770 30,622
7 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 10,000 -
Trade creditors 87,344 59,110
Accruals 1,500 35,797
Taxation and social security costs 74,310 87,535
Other creditors 2,733,031 2,193,741
2,906,185 2,376,183
8 Creditors: amounts falling due after more than one year 2022 2021
£ £
Bank loans 24,166 44,167
ROU Lease Liability 300,920 413,786
325,086 457,953
Bank loan is an unsecured loan at an interest rate of 2.5% per annum. The loan is repayable within 6 years from the date of the drawdown of the loan.
9 Share Capital 2022 2021
Number of shares in issue 1 1
Odrinary share capital in issue £1 £1
10 Retained Earnings £
At 1 Jan 2021 (1,141,896)
Profit (loss) during the year (218,197)
As at 31 Dec 2021 (1,360,093)
At 1 Jan 2022 (1,360,093)
Profit (loss) during the year (409,226)
As at 31 Dec 2022 (1,769,319)
11 Related party transactions
At the year end, an amount of £2,046,467 (2021: £2,086,224) was due to Mr. Bader Nasser Mohamed Al Kharafi and is included within other creditors, which carries interest at a rate in the range of 2.5% - 4.5% (2021: 2.5%) per annum. Mr. Bader Nasser Mohamed Al Kharafi is the majority shareholder of the ultimate parent undertaking of the company.

An amount of £563,615 (2021: £nil) was due to Al-Thiqa Restaurants Company SPC, based in the State of Kuwait and is included within other creditors, which carries interest at a rate in the range of 2.5% - 4.5% per annum. Al-Thiqa Restaurants Company SPC is under common ownership with Tomtom Limited.

Except for related party disclosures noted above, the company has taken advantage of the exception under FRS101 not to disclose transactions with fellow group companies which are wholly owned by BNK Holdings K.S.C.C.
12 Controlling party
The company's immediate parent undertaking is BNK Capital for General Trading SPC, a company registered in Kuwait. The ultimate parent undertaking is BNK Holdings K.S.C.C a company registered in the State of Kuwait.

The smallest group in which the results of Tomtom Ltd are consolidated is that headed by BNK Capital for General Trading SPC, whose registered address is at Al-Qibla, Block 6, Salah Al-Deen Street, Al-Qibla National Company Complex, Floor 1, Office 15, State of Kuwait.

The largest group in which the results of Tomtom Ltd are consolidated is that headed by BNK Holdings K.S.C.C., whose registered address is at Al Hamra Tower, 69th floor, Abdulaziz Al Saqr Street, P.O. Box 1196, Safat 13012, State of Kuwait, where the group financial statements are available.

Mr. Bader Nasser Mohamed Al Kharafi is the ultimate controlling party of the company by virtue of his majority shareholding in BNK Holdings K.S.C.C.
13 Events after the reporting date
There are no subsequent events to report.
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