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Company Registration No. 01126971 (England and Wales)
T.M.A. Engineering Limited Unaudited accounts for the year ended 28 February 2023
T.M.A. Engineering Limited Unaudited accounts Contents
Page
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T.M.A. Engineering Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
99,144 
842,355 
Current assets
Inventories
56,089 
79,240 
Debtors
619,755 
293,864 
Cash at bank and in hand
253,062 
318,031 
928,906 
691,135 
Creditors: amounts falling due within one year
(329,560)
(268,943)
Net current assets
599,346 
422,192 
Total assets less current liabilities
698,490 
1,264,547 
Creditors: amounts falling due after more than one year
(275,467)
(374,528)
Net assets
423,023 
890,019 
Capital and reserves
Called up share capital
6,120 
6,120 
Revaluation reserve
- 
401,601 
Capital redemption reserve
5,880 
5,880 
Profit and loss account
411,023 
476,418 
Shareholders' funds
423,023 
890,019 
For the year ending 28 February 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2023 and were signed on its behalf by
Mr M Albutt Director Company Registration No. 01126971
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T.M.A. Engineering Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
T.M.A. Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 01126971. The registered office is 95-111 Tyburn Road, Erdington, Birmingham, B24 8NQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
20% reducing balance
Motor vehicles
255 reducing balance
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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T.M.A. Engineering Limited Notes to the Accounts for the year ended 28 February 2023
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2022
100,000 
At 28 February 2023
100,000 
Amortisation
At 1 March 2022
100,000 
At 28 February 2023
100,000 
Net book value
At 28 February 2023
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2022
625,000 
932,735 
219,529 
74,675 
1,851,939 
Additions
- 
123,697 
- 
- 
123,697 
Disposals
(625,000)
(1,056,432)
- 
- 
(1,681,432)
At 28 February 2023
- 
- 
219,529 
74,675 
294,204 
Depreciation
At 1 March 2022
162,500 
685,072 
89,574 
72,438 
1,009,584 
Charge for the year
- 
- 
32,489 
559 
33,048 
On disposals
(162,500)
(685,072)
- 
- 
(847,572)
At 28 February 2023
- 
- 
122,063 
72,997 
195,060 
Net book value
At 28 February 2023
- 
- 
97,466 
1,678 
99,144 
At 28 February 2022
462,500 
247,663 
129,955 
2,237 
842,355 
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T.M.A. Engineering Limited Notes to the Accounts for the year ended 28 February 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
9,393 
Trade debtors
246,928 
284,471 
Amounts due from group undertakings etc.
372,827 
- 
619,755 
293,864 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
88,572 
88,572 
VAT
59,558 
- 
Obligations under finance leases and hire purchase contracts
45,632 
47,632 
Trade creditors
61,008 
80,759 
Taxes and social security
29,050 
7,735 
Other creditors
36,133 
36,403 
Loans from directors
2,807 
42 
Accruals
6,800 
7,800 
329,560 
268,943 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
243,612 
297,036 
Obligations under finance leases and hire purchase contracts
31,855 
77,492 
275,467 
374,528 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
3,620 A Ordinary of £1 each
3,620 
3,620 
1,500 B Ordinary of £1 each
1,500 
1,500 
1,000 C Ordinary of £1 each
1,000 
1,000 
6,120 
6,120 
10
Controlling party
The company is 100% owned by T.M.A. Engineering Holdings Ltd. Dividends of £280,450 were paid to the company.
11
Average number of employees
During the year the average number of employees was 21 (2022: 21).
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