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Registration number: 5406593

Toniq Composites Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Toniq Composites Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 8

 

Toniq Composites Ltd

Company Information

Director

Mr Colin Williams

Registered office

Unit 3
Wheal Rose Business Park
Roche Road
Bugle
Cornwall
PL26 8PP

Accountants

Peter Williams & Co
Chartered Certified Accountants
Latham Park
St Blazey Road
Par
Cornwall
PL24 2HY

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Toniq Composites Ltd
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Toniq Composites Ltd for the year ended 30 September 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Toniq Composites Ltd, as a body, in accordance with the terms of our engagement letter dated 1 April 2010. Our work has been undertaken solely to prepare for your approval the accounts of Toniq Composites Ltd and state those matters that we have agreed to state to the Board of Directors of Toniq Composites Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Toniq Composites Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Toniq Composites Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Toniq Composites Ltd. You consider that Toniq Composites Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Toniq Composites 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 accounts.

......................................

Peter Williams & Co
Chartered Certified Accountants
Latham Park
St Blazey Road
Par
Cornwall
PL24 2HY

4 April 2024

 

Toniq Composites Ltd

(Registration number: 5406593)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,101

2,627

Current assets

 

Stocks

1,500

1,500

Debtors

6

30,712

31,306

Cash at bank and in hand

 

4,164

31,543

 

36,376

64,349

Creditors: Amounts falling due within one year

7

(82,942)

(79,609)

Net current liabilities

 

(46,566)

(15,260)

Net liabilities

 

(44,465)

(12,633)

Capital and reserves

 

Called up share capital

8

30,000

30,000

Retained earnings

(74,465)

(42,633)

Shareholders' deficit

 

(44,465)

(12,633)

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 April 2024
 

.........................................
Mr Colin Williams
Director

 

Toniq Composites Ltd

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

30,000

(42,307)

(12,307)

Loss for the year

-

(32,158)

(32,158)

At 30 September 2023

30,000

(74,465)

(44,465)

 

Toniq Composites Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 3
Wheal Rose Business Park
Roche Road
Bugle
Cornwall
PL26 8PP

These financial statements were authorised for issue by the director on 4 April 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% reducing balance basis

stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Toniq Composites Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

525

656

 

Toniq Composites Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

6,413

6,413

At 30 September 2023

6,413

6,413

Depreciation

At 1 October 2022

3,786

3,786

Charge for the year

526

526

At 30 September 2023

4,312

4,312

Carrying amount

At 30 September 2023

2,101

2,101

At 30 September 2022

2,627

2,627

6

debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

30,712

31,054

Other debtors

 

-

252

   

30,712

31,306

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

44,677

43,619

Trade creditors

 

1,897

342

Taxation and social security

 

235

-

Accruals and deferred income

 

5,150

4,775

Other creditors

 

30,983

30,873

 

82,942

79,609

 

Toniq Composites Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

30,000

30,000

30,000

30,000