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Registration number: 07577705

TBM Servicing Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

TBM Servicing Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 5

 

TBM Servicing Limited

(Registration number: 07577705)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,446

9,928

Current assets

 

Debtors

5

244,943

180,828

Cash at bank and in hand

 

3,150

904

 

248,093

181,732

Creditors: Amounts falling due within one year

6

(53,912)

(10,879)

Net current assets

 

194,181

170,853

Total assets less current liabilities

 

201,627

180,781

Provisions for liabilities

(1,009)

(1,391)

Net assets

 

200,618

179,390

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

200,518

179,290

Shareholders' funds

 

200,618

179,390

 

TBM Servicing Limited

(Registration number: 07577705)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 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 accounts for the year in question in accordance with section 476; and

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

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 and the option not to file the Director report or the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 September 2023 and signed on its behalf by:
 

.........................................
Mr Andrew David Hawker
Director

 

TBM Servicing Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

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:
Unit B The Quantum
Marshfield Bank
Crewe
CW2 8UY
UK

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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 the profit or loss.

The current 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.

Deferred 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 tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

TBM Servicing Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

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

Furniture, fittings and equipment

33% straight line

Other property, plant and equipment

25% reducing balance

Motor vehicles

25% reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

8,120

70,407

78,527

At 31 March 2023

8,120

70,407

78,527

Depreciation

At 1 April 2022

8,120

60,479

68,599

Charge for the year

-

2,482

2,482

At 31 March 2023

8,120

62,961

71,081

Carrying amount

At 31 March 2023

-

7,446

7,446

At 31 March 2022

-

9,928

9,928

 

TBM Servicing Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

5

Debtors

2023
£

2022
£

Trade debtors

132,379

102,892

Amounts owed by group undertakings and undertakings in which the company has a participating interest

112,464

77,836

Other debtors

100

100

244,943

180,828

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and overdrafts

7

43,788

4,732

Taxation and social security

 

4,855

594

Other creditors

 

5,269

5,553

 

53,912

10,879

7

Loans and borrowings

The finance lease liabilities, included in loans and overdrafts, are secured against the assets they relate to. The other borrowings, included in other creditors, are secured against the debtors of the company.