Toskanex Ltd - Accounts to registrar - small 17.1.1

Toskanex Ltd - Accounts to registrar - small 17.1.1

TOSKANEX LIMITED - Company Information

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REGISTERED NUMBER: 01357592 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2017

for

TOSKANEX LTD

TOSKANEX LTD (REGISTERED NUMBER: 01357592)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOSKANEX LTD

Company Information
for the Year Ended 31 March 2017







DIRECTOR: T R Bennett





REGISTERED OFFICE: Equity House
4-6 School Road
Tilehurst
Reading
Berkshire
RG31 5AL





REGISTERED NUMBER: 01357592 (England and Wales)





ACCOUNTANTS: Avalon Accounting Limited
Equity House
4-6 School Road
Tilehurst
Reading
Berkshire
RG31 5AL
Page 1
TOSKANEX LTD (REGISTERED NUMBER: 01357592)

Balance Sheet
31 March 2017

31.3.17 31.3.16
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,258 4,344
Investments 5 1 1
3,259 4,345

CURRENT ASSETS
Stocks 22,078 25,611
Debtors 6 14,477 16,521
Cash at bank 2,283 4,461
38,838 46,593
CREDITORS
Amounts falling due within one year 7 (42,401 ) (44,813 )
NET CURRENT (LIABILITIES)/ASSETS (3,563 ) 1,780
TOTAL ASSETS LESS CURRENT
LIABILITIES
(304
)
6,125

CREDITORS
Amounts falling due after more than one
year
8
(7,681
)
(7,910
)
NET LIABILITIES (7,985 ) (1,785 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (8,085 ) (1,885 )
SHAREHOLDERS' FUNDS (7,985 ) (1,785 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
TOSKANEX LTD (REGISTERED NUMBER: 01357592)

Balance Sheet - continued
31 March 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 23 June 2017 and were signed by:





T R Bennett - Director


The notes form part of these financial statements

Page 3
TOSKANEX LTD (REGISTERED NUMBER: 01357592)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

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

These accounts have been prepared on a going concern basis as it is the intention of the Directors/Shareholders
to continue to support the company for the foreseeable future.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2016
and 31 March 2017 19,458 805 6,795 5,633 32,691
DEPRECIATION
At 1 April 2016 19,403 763 3,929 4,252 28,347
Charge for year 14 10 717 345 1,086
At 31 March 2017 19,417 773 4,646 4,597 29,433
NET BOOK VALUE
At 31 March 2017 41 32 2,149 1,036 3,258
At 31 March 2016 55 42 2,866 1,381 4,344

Page 4 continued...
TOSKANEX LTD (REGISTERED NUMBER: 01357592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2016
and 31 March 2017 1
NET BOOK VALUE
At 31 March 2017 1
At 31 March 2016 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade debtors 448 1,095
Other debtors 9,500 9,500
Tax (5 ) 1,583
Royalties paid in advance 4,156 4,156
Paye/NI repayable 378 187
14,477 16,521

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade creditors 39,349 41,422
VAT 1,861 2,019
Directors' current accounts 86 297
Accrued expenses 1,105 1,075
42,401 44,813

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.17 31.3.16
£    £   
Other Loans 7,681 7,910

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.17 31.3.16
value: £    £   
100 Ordinary £1 100 100

Page 5 continued...
TOSKANEX LTD (REGISTERED NUMBER: 01357592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

10. RESERVES
Retained
earnings
£   

At 1 April 2016 (1,885 )
Deficit for the year (6,200 )
At 31 March 2017 (8,085 )

11. RELATED PARTY DISCLOSURES

As at 31 March 2017 the company owed Palmano Bennett £20,120 (2016 £25,120). T Bennett, a Director of
Toskanex Ltd is a Partner of this business.

The company has a 50% shareholding in Knockabout Ltd. As at 31 March 2017 the company was owed £1,526
(2016 £295) by Knockabout Ltd, T Bennett is also a Director of this company.

For the year ended 31 March 2017, Toskanex Ltd made following transactions with Knockabout Ltd:
1. Management fees received - £26,361 (2016 - £29,097)
2. Sales - £1,973 (2016 - £6,030)
3. Purchases - £5,541 (2016 - £935)
4. Commission paid - £470 (2016 - £1,336)
5. Post and Stationery - £1,535 (2016 - £613)

12. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr T Bennett who owns 60% of the Issued Share Capital of the Company.
Mr Bennett is also a Director of the company.

Page 6