Tonkin Materials Testing Limited 05928014 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of materials testing under laboratory conditions. Digita Accounts Production Advanced 6.30.9574.0 true 05928014 2023-10-01 2024-09-30 05928014 2024-09-30 05928014 core:RetainedEarningsAccumulatedLosses 2024-09-30 05928014 core:ShareCapital 2024-09-30 05928014 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-09-30 05928014 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-09-30 05928014 core:CurrentFinancialInstruments 2024-09-30 05928014 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 05928014 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 05928014 core:Goodwill 2024-09-30 05928014 core:LandBuildings 2024-09-30 05928014 core:MotorVehicles 2024-09-30 05928014 core:OtherPropertyPlantEquipment 2024-09-30 05928014 1 2024-09-30 05928014 bus:SmallEntities 2023-10-01 2024-09-30 05928014 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05928014 bus:FilletedAccounts 2023-10-01 2024-09-30 05928014 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05928014 bus:RegisteredOffice 2023-10-01 2024-09-30 05928014 bus:CompanySecretary1 2023-10-01 2024-09-30 05928014 bus:Director1 2023-10-01 2024-09-30 05928014 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05928014 core:Goodwill 2023-10-01 2024-09-30 05928014 core:LandBuildings 2023-10-01 2024-09-30 05928014 core:MotorVehicles 2023-10-01 2024-09-30 05928014 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 05928014 core:PlantMachinery 2023-10-01 2024-09-30 05928014 countries:EnglandWales 2023-10-01 2024-09-30 05928014 1 2023-10-01 2024-09-30 05928014 2023-09-30 05928014 core:Goodwill 2023-09-30 05928014 core:LandBuildings 2023-09-30 05928014 core:MotorVehicles 2023-09-30 05928014 core:OtherPropertyPlantEquipment 2023-09-30 05928014 1 2023-09-30 05928014 2022-10-01 2023-09-30 05928014 2023-09-30 05928014 core:RetainedEarningsAccumulatedLosses 2023-09-30 05928014 core:ShareCapital 2023-09-30 05928014 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-09-30 05928014 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 05928014 core:CurrentFinancialInstruments 2023-09-30 05928014 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 05928014 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 05928014 core:LandBuildings 2023-09-30 05928014 core:MotorVehicles 2023-09-30 05928014 core:OtherPropertyPlantEquipment 2023-09-30 05928014 1 2023-09-30 05928014 1 2022-10-01 2023-09-30 05928014 1 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 05928014

Tonkin Materials Testing Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Tonkin Materials Testing Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Tonkin Materials Testing Limited

Company Information

Director

Mr G J Tonkin

Company secretary

Mrs K Tonkin

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Solicitors

Everys Solicitors
18 Southernhay West
Exeter
Devon
EX1 1PJ

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Tonkin Materials Testing Limited

(Registration number: 05928014)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

62,231

58,270

Current assets

 

Stocks

6

750

750

Debtors

7

406,181

378,219

Cash at bank and in hand

 

212,019

185,251

 

618,950

564,220

Creditors: Amounts falling due within one year

8

(198,664)

(143,362)

Net current assets

 

420,286

420,858

Total assets less current liabilities

 

482,517

479,128

Creditors: Amounts falling due after more than one year

8

(16,443)

(26,828)

Provisions for liabilities

(7,106)

(9,681)

Net assets

 

458,968

442,619

Capital and reserves

 

Called up share capital

2

2

Retained earnings

458,966

442,617

Shareholders' funds

 

458,968

442,619

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Tonkin Materials Testing Limited

(Registration number: 05928014)
Balance Sheet as at 30 September 2024

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

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.

Approved and authorised by the director on 27 June 2025
 

.........................................
Mr G J Tonkin
Director

 

Tonkin Materials Testing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Tonkin Materials Testing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Short Leasehold

Over 50 year life of the lease

Plant and machinery

10% / 25% straight line basis

Motor vehicles

25% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Tonkin Materials Testing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Tonkin Materials Testing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Tonkin Materials Testing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

600,000

600,000

At 30 September 2024

600,000

600,000

Amortisation

At 1 October 2023

600,000

600,000

At 30 September 2024

600,000

600,000

Carrying amount

At 30 September 2024

-

-

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

25,318

121,228

30,473

177,019

Additions

-

-

18,404

18,404

Disposals

-

(10,945)

-

(10,945)

At 30 September 2024

25,318

110,283

48,877

184,478

Depreciation

At 1 October 2023

7,247

90,120

21,382

118,749

Charge for the year

506

10,369

3,568

14,443

Eliminated on disposal

-

(10,945)

-

(10,945)

At 30 September 2024

7,753

89,544

24,950

122,247

Carrying amount

At 30 September 2024

17,565

20,739

23,927

62,231

At 30 September 2023

18,071

31,108

9,091

58,270

Included within the net book value of land and buildings above is £17,565 (2023 - £18,071) in respect of short leasehold land and buildings.
 

 

Tonkin Materials Testing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

750

750

7

Debtors

2024
£

2023
£

Trade debtors

144,333

118,759

Other debtors

258,258

256,172

Prepayments and accrued income

3,590

3,288

Total current trade and other debtors

406,181

378,219

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,385

10,385

Trade creditors

 

8,660

18,891

Taxation and social security

 

95,410

79,110

Other creditors

 

439

310

Accrued expenses

 

83,770

34,666

 

198,664

143,362

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £10,385 (2023 - £10,385).

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

16,443

26,828

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £16,443 (2023 - £26,828).

 

Tonkin Materials Testing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

10,385

10,385

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

16,443

26,828

The finance lease liability is secured upon the asset under finance.

10

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Interest free loan repayable on demand

120,245

134,289

(170,238)

84,296

 

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Interest free loan repayable on demand

70,129

132,161

(82,045)

120,245