TM Site Engineering Ltd
Registered number: 09953368
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,875 7,749
Current assets
Debtors 4 8,679 9,218
Cash at bank and in hand 22,697 16,069
31,376 25,287
Creditors: amounts falling due within one year 5 (23,434) (33,010)
Net current assets/(liabilities) 7,942 (7,723)
Total assets less current liabilities 11,817 26
Creditors: amounts falling due after more than one year 6 (11,506) -
Net assets 311 26
Capital and reserves
Called up share capital 1 1
Profit and loss account 310 25
Shareholder's funds 311 26
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Thomas Molloy
Director
Approved by the board on 20 October 2023
TM Site Engineering Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 27,995
At 31 January 2023 27,995
Depreciation
At 1 February 2022 20,246
Charge for the year 3,874
At 31 January 2023 24,120
Net book value
At 31 January 2023 3,875
At 31 January 2022 7,749
4 Debtors 2023 2022
£ £
Trade debtors 2,360 2,360
Directors loan account 5,869 -
Other debtors 450 6,858
8,679 9,218
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,945 -
Trade creditors 264 264
Directors loan account - 11,471
Corporation tax 14,051 13,545
Other taxes and social security costs - 5,858
Other creditors 5,174 1,872
23,434 33,010
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,506 -
7 Other information
TM Site Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Bourne House
23 Hinton Road
Bournemouth
Dorset
BH1 2EF
8 Directors loan account
During the year the director, Thomas Molloy, had a loan account with the company. The balance of the loan as at the balance sheet date was £5,869. The loan is interest free and there are no fixed terms of repayment.
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