REGISTERED NUMBER: 08929860 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2023

for

TMO Traffic Highways Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr M Haysman

Mrs J L Balding

Mr B Green

REGISTERED OFFICE:

Building 1

Roy Humphrey Site

A140 Norwich - Ipswich Road

Brome, Eye

Suffolk

IP23 8AW

REGISTERED NUMBER:

08929860 (England and Wales)

ACCOUNTANTS:

Steve Pye & Co.

Chartered Certified Accountants

Unit 3

North Lynn Business Village

Bergen Way

King's Lynn

Norfolk

PE30 2JG

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TMO Traffic Highways Limited for the year ended 30 June 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of TMO Traffic Highways Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TMO Traffic Highways Limited and state those matters that we have agreed to state to the Board of Directors of TMO Traffic Highways Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that TMO Traffic Highways Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TMO Traffic Highways Limited. You consider that TMO Traffic Highways Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TMO Traffic Highways Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Steve Pye & Co.

Chartered Certified Accountants

Unit 3

North Lynn Business Village

Bergen Way

King's Lynn

Norfolk

PE30 2JG

15 September 2023

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,286,122

656,716

1,286,122

656,716

CURRENT ASSETS

Stocks

289,232

254,960

Debtors

7

2,186,785

1,704,132

Cash at bank

693,463

631,357

3,169,480

2,590,449

CREDITORS

Amounts falling due within one year

8

3,031,532

2,470,394

NET CURRENT ASSETS

137,948

120,055

TOTAL ASSETS LESS CURRENT LIABILITIES

1,424,070

776,771

CREDITORS

Amounts falling due after more than one year

9

(837,702

)

(204,487

)

PROVISIONS FOR LIABILITIES

(72,023

)

(87,612

)

NET ASSETS

514,345

484,672

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

513,345

483,672

514,345

484,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2023 and were signed on its behalf by:

Mrs J L Balding - Director

Mr M Haysman - Director

1.	STATUTORY INFORMATION

TMO Traffic Highways Limited 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered 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 to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Leasehold Property Improvements

-

33% on cost

Long leasehold

-

Straight line over 10 years

Plant and machinery

-

25% on reducing balance, Straight line over 10 years and Straight line over 12 years

Motor vehicles

-

25% on reducing balance and 20% 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.

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 71 (2022 - 75 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2022

and 30 June 2023

155,067

AMORTISATION

At 1 July 2022

and 30 June 2023

155,067

NET BOOK VALUE

At 30 June 2023

-

At 30 June 2022

-

6.	TANGIBLE FIXED ASSETS

Leasehold

Property

Long

Plant and

Motor

Improvements

leasehold

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1 July 2022

10,325

6,253

1,271,735

124,194

1,412,507

Additions

4,000

-

17,101

950,993

972,094

Disposals

-

-

(77,562

)

-

(77,562

)

At 30 June 2023

14,325

6,253

1,211,274

1,075,187

2,307,039

DEPRECIATION

At 1 July 2022

3,796

803

686,656

64,536

755,791

Charge for year

7,862

626

106,672

209,229

324,389

Eliminated on disposal

-

-

(59,263

)

-

(59,263

)

At 30 June 2023

11,658

1,429

734,065

273,765

1,020,917

NET BOOK VALUE

At 30 June 2023

2,667

4,824

477,209

801,422

1,286,122

At 30 June 2022

6,529

5,450

585,079

59,658

656,716

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,920,410

1,462,506

Other debtors

266,375

241,626

2,186,785

1,704,132

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts (see note 10)

34,272

64,689

Hire purchase contracts

265,255

58,234

Payments on account

116,691

110,912

Trade creditors

424,052

475,190

Amounts owed to participating interests

124,127

125,162

Taxation and social security

389,120

302,718

Other creditors

1,678,015

1,333,489

3,031,532

2,470,394

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans (see note 10)

135,802

170,093

Hire purchase contracts

701,900

34,394

837,702

204,487

10.

LOANS

An analysis of the maturity of loans is given below:

2023

2022

£

£

Amounts falling due within one year or on demand:

Bank loans

34,272

64,689

Amounts falling due between one and two years:

Bank loans - 1-2 years

39,246

34,269

Amounts falling due between two and five years:

Bank loans - 2-5 years

96,556

135,824

11.	SECURED DEBTS

On 17th May 2018 a fixed and floating charge was created securing all monies owed to Aldemore Bank Plc over all all property, assets and undertakings of the company.