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REGISTERED NUMBER: 12257389 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

TMS HOLDINGS (BEDFORD) LIMITED

TMS HOLDINGS (BEDFORD) LIMITED (REGISTERED NUMBER: 12257389)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TMS HOLDINGS (BEDFORD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr J A Smith





SECRETARY: Mrs A J Smith





REGISTERED OFFICE: 4 Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP





REGISTERED NUMBER: 12257389 (England and Wales)





ACCOUNTANTS: Davey Grover Limited
Chartered Accountants
4 Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP

TMS HOLDINGS (BEDFORD) LIMITED (REGISTERED NUMBER: 12257389)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,397 4,885
Investments 5 2,000 2,000
Investment property 6 993,944 993,944
1,000,341 1,000,829

CURRENT ASSETS
Debtors 7 14,801 291
Cash at bank 1,219,402 1,442,507
1,234,203 1,442,798
CREDITORS
Amounts falling due within one year 8 64,717 482,396
NET CURRENT ASSETS 1,169,486 960,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,169,827

1,961,231

PROVISIONS FOR LIABILITIES 835 685
NET ASSETS 2,168,992 1,960,546

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 2,166,992 1,958,546
SHAREHOLDERS' FUNDS 2,168,992 1,960,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

TMS HOLDINGS (BEDFORD) LIMITED (REGISTERED NUMBER: 12257389)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 November 2023 and were signed by:





Mr J A Smith - Director


TMS HOLDINGS (BEDFORD) LIMITED (REGISTERED NUMBER: 12257389)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

TMS Holdings (Bedford) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Preparation of consolidated financial statements
The financial statements contain information about TMS Holdings (Bedford) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
The preparation of the financial statements require management to make judgements,estimates and assumptions that affect the amounts reported for revenues and expenses during the year. However, the nature of estimates means that the actual outcomes could differ from those estimates. There are no judgements (apart from those involving estimates for depreciation, and doubtful debt provisions) that have had a significant effect on amounts recognised in the financial statements.

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

Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. The following criteria must also be met before revenue is recognised:

Rental Income
Rental income is recognised for the period in which it relates to.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investments in unlisted shares are valued at fair value. Should a reliable valuation not be obtainable the investment will be valued at historical cost.

TMS HOLDINGS (BEDFORD) LIMITED (REGISTERED NUMBER: 12257389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Fixed assets investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are revalued by the director's and the aggregate surplus or deficit is transferred to a the profit and loss reserve, after allowing for deferred taxation. No amortisation or depreciation is provided in respect of freehold investment properties as they are stated at market value at each reporting date.

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

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

TMS HOLDINGS (BEDFORD) LIMITED (REGISTERED NUMBER: 12257389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 7,717
Additions 977
At 28 February 2023 8,694
DEPRECIATION
At 1 March 2022 2,832
Charge for year 1,465
At 28 February 2023 4,297
NET BOOK VALUE
At 28 February 2023 4,397
At 28 February 2022 4,885

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 2,000
NET BOOK VALUE
At 28 February 2023 2,000
At 28 February 2022 2,000

The company's investment at 28 February 2023 and 28 February 2022 represents a 95% share holding in the following company:

Turbo-Machinery Services Limited
Registered Office: Fenice Court, Phoenix Business Park, Eaton Socon, St. Neots, Cambs. PE19 8EP.
Company Number: 04165137

The investment has been valued at historical cost, as the director are unable to obtain a reliable valuation.

TMS HOLDINGS (BEDFORD) LIMITED (REGISTERED NUMBER: 12257389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. INVESTMENT PROPERTY
Total
£   
COST
At 1 March 2022
and 28 February 2023 993,944
NET BOOK VALUE
At 28 February 2023 993,944
At 28 February 2022 993,944

Investment properties were valued on an open market basis on 28 February 2023 by the director.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 14,801 291

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 20,596 15,884
Other creditors 44,121 466,512
64,717 482,396

9. RELATED PARTY DISCLOSURES

Included within other creditors at 28 February 2023 is a balance of £37,501 (2022: £460,000) which is owed by TMS Holdings (Bedford) Limited to Turbo-Machinery Services Limited. This loan has been provided on an interest free basis.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J A Smith.