REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 2 July 2022 to 31 July 2023 |
for |
TOM AND DUNCAN LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 2 July 2022 to 31 July 2023 |
for |
TOM AND DUNCAN LTD |
TOM AND DUNCAN LTD (REGISTERED NUMBER: 14210391) |
Contents of the Financial Statements |
for the period 2 July 2022 to 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
TOM AND DUNCAN LTD |
Company Information |
for the period 2 July 2022 to 31 July 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
TOM AND DUNCAN LTD (REGISTERED NUMBER: 14210391) |
Balance Sheet |
31 July 2023 |
Notes | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net liabilities | ( |
) |
Capital and reserves |
Called up share capital | 9 |
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. |
TOM AND DUNCAN LTD (REGISTERED NUMBER: 14210391) |
Balance Sheet - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
TOM AND DUNCAN LTD (REGISTERED NUMBER: 14210391) |
Notes to the Financial Statements |
for the period 2 July 2022 to 31 July 2023 |
1. | Statutory information |
Tom And Duncan Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
The company has a net liabilities position at the period end. The directors confirm continued support for the company to ensure liabilities of the company are met as they fall due and therefore consider the accounts being prepared on a going concern basis to be appropriate. |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
TOM AND DUNCAN LTD (REGISTERED NUMBER: 14210391) |
Notes to the Financial Statements - continued |
for the period 2 July 2022 to 31 July 2023 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 period was |
TOM AND DUNCAN LTD (REGISTERED NUMBER: 14210391) |
Notes to the Financial Statements - continued |
for the period 2 July 2022 to 31 July 2023 |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
Additions |
At 31 July 2023 |
Amortisation |
Amortisation for period |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
5. | Tangible fixed assets |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
Additions |
At 31 July 2023 |
Depreciation |
Charge for period |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
Cost |
Additions |
At 31 July 2023 |
Depreciation |
Charge for period |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
6. | Debtors: amounts falling due within one year |
£ |
Trade debtors |
Other debtors |
TOM AND DUNCAN LTD (REGISTERED NUMBER: 14210391) |
Notes to the Financial Statements - continued |
for the period 2 July 2022 to 31 July 2023 |
7. | Creditors: amounts falling due within one year |
£ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
£ |
Hire purchase contracts |
Other creditors |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 2 |
2 Ordinary shares of £1 each were allotted and fully paid for |
10. | Related party disclosures |
At the period ended 31 July 2023 the Company owed the Directors £75,996. This amount was repayable on demand and subject to no interest charge |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Tom And Duncan Ltd |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tom And Duncan Ltd for the period ended 31 July 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Tom And Duncan Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tom And Duncan Ltd and state those matters that we have agreed to state to the Board of Directors of Tom And Duncan Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tom And Duncan Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Tom And Duncan Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Tom And Duncan Ltd. You consider that Tom And Duncan Ltd is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Tom And Duncan Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |