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REGISTERED NUMBER: 03570847 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH MAY 2023

FOR

TMH COMMERCIAL VEHICLES LTD

TMH COMMERCIAL VEHICLES LTD (REGISTERED NUMBER: 03570847)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TMH COMMERCIAL VEHICLES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH MAY 2023







DIRECTORS: J Townsend
M J Townsend





SECRETARY: Mrs T B Townsend





REGISTERED OFFICE: 5 Meux Close
Cheshunt
Waltham Cross
Hertfordshire
EN7 5DQ





REGISTERED NUMBER: 03570847 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

TMH COMMERCIAL VEHICLES LTD (REGISTERED NUMBER: 03570847)

BALANCE SHEET
30TH MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 104,208 7,730

CURRENT ASSETS
Stocks 3,000 3,500
Debtors 5 74,629 121,251
77,629 124,751
CREDITORS
Amounts falling due within one year 6 74,198 97,532
NET CURRENT ASSETS 3,431 27,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,639

34,949

CREDITORS
Amounts falling due after more than one
year

7

(49,070

)

(28,500

)

PROVISIONS FOR LIABILITIES (19,800 ) -
NET ASSETS 38,769 6,449

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 38,767 6,447
38,769 6,449

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th May 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.

TMH COMMERCIAL VEHICLES LTD (REGISTERED NUMBER: 03570847)

BALANCE SHEET - continued
30TH MAY 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 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 30th January 2024 and were signed on its behalf by:





J Townsend - Director


TMH COMMERCIAL VEHICLES LTD (REGISTERED NUMBER: 03570847)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH MAY 2023

1. STATUTORY INFORMATION

TMH Commercial Vehicles Ltd 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. 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.

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Further, the directors continue to support the company by way of director funding and have not indicated that such support will be withdrawn in the foreseeable future.

On the basis of all of the foregoing, the financial statements for the year ended 30 May 2023 have been prepared using the going concern basis of accounting.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current 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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 6 ) .

TMH COMMERCIAL VEHICLES LTD (REGISTERED NUMBER: 03570847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH MAY 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 31st May 2022 59,621 57,759 117,380
Additions 3,116 104,899 108,015
At 30th May 2023 62,737 162,658 225,395
DEPRECIATION
At 31st May 2022 53,941 55,709 109,650
Charge for year 3,040 8,497 11,537
At 30th May 2023 56,981 64,206 121,187
NET BOOK VALUE
At 30th May 2023 5,756 98,452 104,208
At 30th May 2022 5,680 2,050 7,730

Included within the aggregate net book value above of £104,208 (2022: £7,730) are assets held under hire purchase contracts with a combined net book value of £80,214 (2022: £Nil) and the depreciation charge for the year in respect of those assets was £6,098 (2022: £Nil).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,629 121,251

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,238 29,634
Hire purchase contracts 20,027 -
Trade creditors 23,728 37,283
Social security and other taxes 2,596 7,627
VAT 1,365 11,239
Other creditors 10,293 10,810
Directors' current accounts 3,051 39
Accruals 900 900
74,198 97,532

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 19,500 28,500
Hire purchase contracts 29,570 -
49,070 28,500

TMH COMMERCIAL VEHICLES LTD (REGISTERED NUMBER: 03570847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH MAY 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 3,238 20,634

There is a Debenture, which was created on 8th January 2016 in favour of Barclays Bank Plc (the "Bank") containing fixed and floating charges in respect of the bank overdraft and all monies becoming due to the Bank.