COMPANY REGISTRATION NUMBER:
SC588916
Filleted Financial Statements |
|
Statement of Financial Position |
|
31 December 2023
Current assets
Stocks |
50,795 |
– |
Debtors |
4 |
87,842 |
– |
Cash at bank and in hand |
57,313 |
100 |
|
--------- |
---- |
|
195,950 |
100 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
148,844 |
– |
|
--------- |
---- |
Net current assets |
47,106 |
100 |
|
-------- |
---- |
Total assets less current liabilities |
47,106 |
100 |
|
-------- |
---- |
Net assets |
47,106 |
100 |
|
-------- |
---- |
|
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
47,006 |
– |
|
-------- |
---- |
Shareholders funds |
47,106 |
100 |
|
-------- |
---- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
10 June 2024
, and are signed on behalf of the board by:
Company registration number:
SC588916
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company changed its name to
Toolporters Limited
from Fixxtoll Ltd on 06 January 2023.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant judgements, estimates, or assumptions were made in respect of the current or preceeding period's financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
87,842 |
– |
|
-------- |
---- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
(
524) |
– |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
100,000 |
– |
Social security and other taxes |
44,568 |
– |
Other creditors |
4,800 |
– |
|
--------- |
---- |
|
148,844 |
– |
|
--------- |
---- |
|
|
|
6.
Summary audit opinion
The auditor's report dated
11 June 2024
was
unqualified
.
The senior statutory auditor was
Andrew Wilson BA CA
, for and on behalf of
Nelson Gilmour Smith
.
7.
Related party transactions
No transactions with related parties were entered into in the current or preceding period such as are required to be disclosed under FRS 102 Section 1A.
8.
Controlling party
The copany's financial statements are consolidated into the financial statements of
Noel Kegg Limited
(SC318609), its ultimate parent entity. Noel Kegg Limited's accounts cover the largest and smallest group of undertakings for which group accounts are drawn up and can be obtained from Nelson Gilmour Smith, Mercantile Chambers, 53 Bothwell Street, Glasgow, G2 6TB. The ultimate controlling beneficial owner Toolporters Limited
is Director C. Kegg
, by virtue of his shareholdings in Noel Kegg Limited.