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REGISTERED NUMBER: 07372204 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Toumetis Ltd

Toumetis Ltd (Registered number: 07372204)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Toumetis Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M Willnerd
R Wozniak





REGISTERED OFFICE: 129 Cumberland Road
Bristol
BS1 6UX





REGISTERED NUMBER: 07372204 (England and Wales)





ACCOUNTANTS: Atkinsons
Chartered Accountants
Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA

Toumetis Ltd (Registered number: 07372204)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,539 -
Tangible assets 5 29,828 30,080
34,367 30,080

CURRENT ASSETS
Debtors 6 83,602 75,661
Cash at bank and in hand 16,671 19,617
100,273 95,278
CREDITORS
Amounts falling due within one year 7 (29,331 ) 53,407
NET CURRENT ASSETS 129,604 41,871
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,971

71,951

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 163,871 71,851
163,971 71,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:



M Willnerd - Director


Toumetis Ltd (Registered number: 07372204)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Toumetis Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - 20% straight line basis
Fixtures and fittings - 25% reducing balance basis
Computer equipment - 50% reducing balance basis

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Toumetis Ltd (Registered number: 07372204)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 6,809
At 31 December 2023 6,809
AMORTISATION
Amortisation for year 2,270
At 31 December 2023 2,270
NET BOOK VALUE
At 31 December 2023 4,539

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 6,500 47,255 179,585 233,340
Additions 1,799 105 24,149 26,053
Disposals (6,501 ) (34,222 ) (146,190 ) (186,913 )
At 31 December 2023 1,798 13,138 57,544 72,480
DEPRECIATION
At 1 January 2023 3,656 40,716 158,888 203,260
Charge for year 210 576 15,871 16,657
Eliminated on disposal (3,656 ) (29,920 ) (143,689 ) (177,265 )
At 31 December 2023 210 11,372 31,070 42,652
NET BOOK VALUE
At 31 December 2023 1,588 1,766 26,474 29,828
At 31 December 2022 2,844 6,539 20,697 30,080

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 83,602 75,661

Toumetis Ltd (Registered number: 07372204)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 2,708
Taxation and social security (87,857 ) 32,334
Other creditors 58,526 18,365
(29,331 ) 53,407

8. OTHER FINANCIAL COMMITMENTS

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. Unpaid contributions owing at the year end totalled £17,954.81 (2022: £15,634).

9. RELATED PARTY DISCLOSURES

Toumetis Ltd currently provides software development services exclusively to its parent company, Toumetis Inc. of Idaho, USA. At some point in the future Toumetis Ltd may start selling software products and services directly to customers in the UK and Europe. Until then, Toumetis Inc. has agreed to cover all costs incurred by Toumetis Ltd on its behalf.