Company registration number 05332678 (England and Wales)
TOMASULO CONSTRUCTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024
TOMASULO CONSTRUCTION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
TOMASULO CONSTRUCTION LIMITED
BALANCE SHEET
AS AT
28 SEPTEMBER 2024
28 September 2024
- 1 -
2024
2023
as restated
Notes
£
£
FIXED ASSETS
Tangible assets
4
115,765
162,437
Investments
5
15,395
15,395
131,160
177,832
CURRENT ASSETS
Debtors
6
333,971
282,930
Cash at bank and in hand
21,039
37,382
355,010
320,312
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
7
(131,808)
(106,679)
NET CURRENT ASSETS
223,202
213,633
TOTAL ASSETS LESS CURRENT LIABILITIES
354,362
391,465
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
8
(24,483)
(41,339)
NET ASSETS
329,879
350,126
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss reserves
329,877
350,124
TOTAL EQUITY
329,879
350,126
TOMASULO CONSTRUCTION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 SEPTEMBER 2024
28 September 2024
- 2 -

For the financial year ended 28 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

The financial statements were approved by the board of directors and authorised for issue on 24 December 2025 and are signed on its behalf by:
Mr M Tomasulo
Director
Company registration number 05332678 (England and Wales)
TOMASULO CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2024
- 3 -
1
ACCOUNTING POLICIES
Company information

Tomasulo Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cedar House, Hazell Drive, Newport, NP10 8FY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have ben 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.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% straight line
Motor vehicles
25% straight line
Equipment
15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

TOMASULO CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.4
Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TOMASULO CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Leases
As lessee

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet 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.

2
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
TOMASULO CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2024
- 6 -
4
TANGIBLE FIXED ASSETS
Plant and machinery etc
Equipment
Total
£
£
£
Cost
At 29 September 2023
251,478
143,747
395,225
Additions
1,070
261
1,331
Disposals
(11,200)
(80,695)
(91,895)
At 28 September 2024
241,348
63,313
304,661
Depreciation and impairment
At 29 September 2023
107,485
125,303
232,788
Depreciation charged in the year
35,261
4,088
39,349
Eliminated in respect of disposals
(11,200)
(72,041)
(83,241)
At 28 September 2024
131,546
57,350
188,896
Carrying amount
At 28 September 2024
109,802
5,963
115,765
At 28 September 2023
143,993
18,444
162,437
5
FIXED ASSET INVESTMENTS
2024
2023
£
£
Other investments other than loans
15,395
15,395
6
DEBTORS
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
37,753
20,570
Other debtors
281,907
220,501
319,660
241,071
Deferred tax asset
14,311
41,859
333,971
282,930
TOMASULO CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2024
- 7 -
7
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
15,268
4,369
Corporation tax
54,970
32,904
Other taxation and social security
38,757
47,097
Other creditors
12,813
12,309
131,808
106,679

Included within other creditors due within one year are secured creditors amounting to £6,856 (2023: £5,994) in respect of the company's hire purchase facilities. The balances are secured over the assets to which they relate.

8
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
£
£
Bank loans and overdrafts
6,667
16,667
Other creditors
17,816
24,672
24,483
41,339

Included within other creditors due after more than one year are secured creditors amounting to £17,816 (2023: £24,672) in respect of the company's hire purchase facilities. The balances are secured over the assets to which they relate.

9
DIRECTORS' TRANSACTIONS

These balances are interest free and repayable on demand.

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Director loan
-
73,835
22,491
96,326
73,835
22,491
96,326
TOMASULO CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2024
- 8 -
10
PRIOR PERIOD ADJUSTMENT
RECONCILIATION OF CHANGES IN EQUITY
29 September 2022
28 September 2023
£
£
Adjustments to prior year
Adjustments to VAT
53,614
53,614
Director loan balance adjusted
68,406
68,406
Other debtor balance adjusted
62,893
62,893
Total adjustments
184,913
184,913
Equity as previously reported
269,435
165,213
Equity as adjusted
454,348
350,126
Analysis of the effect upon equity
Profit and loss reserves
184,913
184,913
Reconciliation of changes in loss for the previous financial period
2023
£
Total adjustments
-
Loss as previously reported
(21,882)
Loss as adjusted
(21,882)
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