TONGMASTER SEASONINGS LTD

TONGMASTER SEASONINGS LTD

TONGMASTER SEASONINGS LTD - Company Information

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TONGMASTER SEASONINGS LTD

Company Registration Number:
SC502276 (Scotland)

Unaudited abridged accounts for the year ended 30 April 2022

Period of accounts

Start date: 01 May 2021

End date: 30 April 2022

TONGMASTER SEASONINGS LTD

Contents of the Financial Statements

for the Period Ended 30 April 2022

Balance sheet
Notes

TONGMASTER SEASONINGS LTD

Balance sheet

As at 30 April 2022


Notes
2022
2021


£
£
Fixed assets
Tangible assets: 3 86,495 33,100
Total fixed assets: 86,495 33,100
Current assets
Stocks: 45,444 34,216
Debtors:   190,552 284,374
Cash at bank and in hand: 135,922 253,938
Total current assets: 371,918 572,528
Creditors: amounts falling due within one year:   (75,998) (127,112)
Net current assets (liabilities): 295,920 445,416
Total assets less current liabilities: 382,415 478,516
Total net assets (liabilities): 382,415 478,516
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 381,415 477,516
Shareholders funds: 382,415 478,516

The notes form part of these financial statements

TONGMASTER SEASONINGS LTD

Balance sheet statements

For the year ending 30 April 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 October 2022
and signed on behalf of the board by:

Name: E J Sands
Status: Director

The notes form part of these financial statements

TONGMASTER SEASONINGS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

TurnoverTurnover is measured at the fair value of the consideration received or receivable for goods suppliedand 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 havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurredor to be incurred in respect of the transactions can be measured reliably

Tangible fixed assets and depreciation policy

Tangible assetsTangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulateddepreciation and impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluationless 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 othercomprehensive income and accumulated in capital and reserves, except to the extent it reverses arevaluation decrease of the same asset previously recognised in profit or loss. A decrease in thecarrying amount of an asset as a result of revaluation is recognised in other comprehensive income tothe extent of any previously recognised revaluation increase accumulated in capital and reserves inrespect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gainsaccumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit orloss.DepreciationDepreciation 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 - 20% reducing balanceIf there is an indication that there has been a significant change in depreciation rate, useful life orresidual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Valuation and information policy

StocksStocks 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 stocksto their present location and condition.

Other accounting policies

Government grantsGovernment grants are recognised at the fair value of the asset received or receivable. Grants are notrecognised until there is reasonable assurance that the company will comply with the conditionsattaching to them and the grants will be received.Government grants are recognised using the accrual model and the performance model.Under the accrual model, government grants relating to revenue are recognised on a systematic basisover the periods in which the company recognises the related costs for which the grant is intended tocompensate. Grants that are receivable as compensation for expenses or losses already incurred or forthe purpose of giving immediate financial support to the entity with no future related costs arerecognised in income in the period in which it becomes receivable.Grants relating to assets are recognised in income on a systematic basis over the expected useful lifeof the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred incomeand not deducted from the carrying amount of the asset.Under the performance model, where the grant does not impose specified future performance-relatedconditions on the recipient, it is recognised in income when the grant proceeds are received orreceivable. Where the grant does impose specified future performance-related conditions on therecipient, it is recognised in income only when the performance-related conditions have been met.Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as aliability

TONGMASTER SEASONINGS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2022

2. Employees

2022 2021
Average number of employees during the period 12 9

TONGMASTER SEASONINGS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2022

3. Tangible Assets

Total
Cost £
At 01 May 2021 55,657
Additions 80,055
At 30 April 2022 135,712
Depreciation
At 01 May 2021 22,557
Charge for year 26,660
At 30 April 2022 49,217
Net book value
At 30 April 2022 86,495
At 30 April 2021 33,100