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COMPANY REGISTRATION NUMBER: 12211665

Toman Contracting Ltd

Filleted Unaudited Financial Statements

30 September 2024

Toman Contracting Ltd

Statement of Financial Position

30 September 2024

| 2024 | 2023
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 762,122 | 621,543

Current assets

Stocks | 1,108,061 |  | 1,166,955
Debtors | 6 | 790,227 |  | 637,523
Cash at bank and in hand | 475,599 |  | 458,146
| ------------ |  | ------------
| 2,373,887 |  | 2,262,624

Creditors: amounts falling due within one year | 7 | 1,469,608 |  | 1,436,750
| ------------ |  | ------------
Net current assets |  | 904,279 | 825,874
|  | ------------ | ------------
Total assets less current liabilities |  | 1,666,401 | 1,447,417

Creditors: amounts falling due after more than one year | 8 |  | 70,392 | 207,802

Provisions |  | 190,531 | 136,802
|  | ------------ | ------------
Net assets |  | 1,405,478 | 1,102,813
|  | ------------ | ------------

Capital and reserves

Called up share capital |  | 200 | 200
Profit and loss account |  | 1,405,278 | 1,102,613
|  | ------------ | ------------
Shareholders funds |  | 1,405,478 | 1,102,813
|  | ------------ | ------------

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.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Toman Contracting Ltd

Statement of Financial Position (continued)

30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 30 August 2025 , and are signed on behalf of the board by:

Mr M P Toman | Mr J B Toman
Director | Director

Company registration number: 12211665

Toman Contracting Ltd

Notes to the Financial Statements

Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Helder House, Baybarrow Road, Egremont, Cumbria, CA22 2NG.
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.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 15% reducing balance
| Fixtures and fittings | - | 15% reducing balance
| Motor vehicles | - | 25% reducing balance

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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 41 (2023: 24 ).
5. Tangible assets

| Plant and machinery | Fixtures and fittings | Motor vehicles | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 October 2023 | 563,327 | 10,935 | 359,263 | 933,525
Additions | 187,183 | – | 207,875 | 395,058
Disposals | ( 518) | – | – | ( 518)
| --------- | -------- | --------- | ------------
At 30 September 2024 | 749,992 | 10,935 | 567,138 | 1,328,065
| --------- | -------- | --------- | ------------
Depreciation |  |  |  |
At 1 October 2023 | 87,975 | 4,176 | 219,831 | 311,982
Charge for the year | 165,525 | 1,690 | 86,827 | 254,042
Disposals | ( 81) | – | – | ( 81)
| --------- | -------- | --------- | ------------
At 30 September 2024 | 253,419 | 5,866 | 306,658 | 565,943
| --------- | -------- | --------- | ------------
Carrying amount |  |  |  |
At 30 September 2024 | 496,573 | 5,069 | 260,480 | 762,122
| --------- | -------- | --------- | ------------
At 30 September 2023 | 475,352 | 6,759 | 139,432 | 621,543
| --------- | -------- | --------- | ------------

6. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 766,629 | 621,025
Other debtors | 23,598 | 16,498
| --------- | ---------
| 790,227 | 637,523
| --------- | ---------

7. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 10,000 | 10,000
Trade creditors | 600,619 | 664,862
Corporation tax | 122,558 | 100,931
Social security and other taxes | 47,309 | 32,051
Other creditors | 689,122 | 628,906
| ------------ | ------------
| 1,469,608 | 1,436,750
| ------------ | ------------

8. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 7,500 | 16,333
Other creditors | 62,892 | 191,469
| -------- | ---------
| 70,392 | 207,802
| -------- | ---------

9. Related party transactions
The company was under the joint control of Mr C W Reay & Mrs N Reay throughout the current year and previous period. Mr & Mrs Reay are company directors and collectively hold 51% of the issued share capital. During the year dividends of £ 120,000 (2023 - £120,000) were paid. On the balance sheet date the company owed the directors £ 432,444 (2023 - £357,515) and this is included in Other creditors. During the year sales of £ 93,344 (2023 - £215,231) were made to Reays Coaches Limited , a company of which Mr C W Reay & Mrs N Reay are directors and majority shareholders. On the balance sheet date £ 2,662 (2023 - £134,449) was due from Reays Coaches Limited and is included in Trade debtors. During the year purchases of £ 47,747 (2023 - £129,286) were made from Reays Coaches Limited. On the balance sheet date £ 192,074 (2023 - £311,284) was due to Reays Coaches Limited and is included in Trade creditors. During the year sales of £ 50,854 (2023 - £5,160) were made to Glenrental Limited , a company of which Mr C W Reay & Mrs N Reay are directors and majority shareholders. On the balance sheet date £ 61,368 (2023 - £3,202) was due from Glenrental Limited and is included in Trade debtors. During the year purchases of £ 222,763 (2023 - £93,051) were made from Glenrental Limited. On the balance sheet date £ 37,078 (2023 - £35,056) was due to Glenrental Limited and is included in Trade creditors. During the year sales of £ 45,840 (2023 - £69,110) were made to Brough Hill Properties Limited , a company of which Mr C W Reay & Mrs N Reay are sole directors and shareholders. On the balance sheet date £ 47,414 (2023 - £97,295) was due from Brough Hill Properties Limited and is included in Trade debtors. During the year purchases of £ 96,705 (2023 - £49,960) were made from Brough Hill Properties Limited. On the balance sheet date £ 16,175 (2023 - £44,752) was due to Brough Hill Properties Limited and is included in Trade creditors.