TM MANAGEMENT SERVICES LIMITED

Company Registration Number:
13222747 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

TM MANAGEMENT SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

TM MANAGEMENT SERVICES LIMITED

Balance sheet

As at 31 December 2022


Notes

2022

10 months to 31 December 2021


£

£
Current assets
Debtors:   80,795 283,627
Cash at bank and in hand: 207,993 113,596
Total current assets: 288,788 397,223
Creditors: amounts falling due within one year: 3 (98,225) (325,811)
Net current assets (liabilities): 190,563 71,412
Total assets less current liabilities: 190,563 71,412
Total net assets (liabilities): 190,563 71,412
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 190,562 71,411
Shareholders funds: 190,563 71,412

The notes form part of these financial statements

TM MANAGEMENT SERVICES LIMITED

Balance sheet statements

For the year ending 31 December 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 23 August 2023
and signed on behalf of the board by:

Name: Brian Menell
Status: Director

The notes form part of these financial statements

TM MANAGEMENT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 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

2.4 RevenueRevenue is receivable in respect of management services provided to investors in the mining and mineral sector.Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:Rendering of servicesRevenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:the amount of revenue can be measured reliably;it is probable that the Company will receive the consideration due under the contract;the stage of completion of the contract at the end of the reporting period can be measured reliably; andthe costs incurred and the costs to complete the contract can be measured reliably.

Other accounting policies

2.3 Foreign currency translationFunctional and presentation currencyThe Company's functional and presentational currency is USD. 2022 exchange rate 1 GBP : 1.2369 USD. 2021 exchange rate 1 GBP : 1.3757 USDTransactions and balancesForeign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.2.5 PensionsDefined contribution pension planThe Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.2.6 TaxationTax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

TM MANAGEMENT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 10 months to 31 December 2021
Average number of employees during the period 8 5

TM MANAGEMENT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Creditors: amounts falling due within one year note

6. Creditors: amounts falling due within one year31 December 2022$ / £Corporation tax 60,443 / 48,867Other taxation and social security 24,756 / 20,015Other creditors 14,917 / 12,060Accruals and deferred income 21,378 / 17,284121,494 / 98,22531 December 2021$ / £Corporation tax 28,386 / 20,634Other taxation and social security 45,989 / 33,430Other creditors 2,438 / 1,772Accruals and deferred income 371,405 / 269,975448,218 / 325,811

TM MANAGEMENT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Related party transactions

Related party transactionsThe company has taken advantage of the exemption, under the terms of FRS 102 1A, not to disclose related party transactions with wholly owned subsidiaries within the group.