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REGISTERED NUMBER: 02332962 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

TMB SYSTEMS LIMITED

TMB SYSTEMS LIMITED (REGISTERED NUMBER: 02332962)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TMB SYSTEMS LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: D Burton
Mrs E M Burton
A D Burton
G Gilmour





SECRETARY: Mrs E M Burton





REGISTERED OFFICE: 36a Station Road
New Milton
Hampshire
BH25 6JX





REGISTERED NUMBER: 02332962 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

TMB SYSTEMS LIMITED (REGISTERED NUMBER: 02332962)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 471,576 332,183

CURRENT ASSETS
Stocks 548,829 327,447
Debtors 5 1,807,511 1,270,663
Cash at bank 228,655 376,669
2,584,995 1,974,779
CREDITORS
Amounts falling due within one year 6 1,950,272 1,435,298
NET CURRENT ASSETS 634,723 539,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,106,299

871,664

CREDITORS
Amounts falling due after more than one
year

7

-

72,741
NET ASSETS 1,106,299 798,923

CAPITAL AND RESERVES
Called up share capital 8,956 8,956
Share premium 3,464 3,464
Revaluation reserve 9 120,403 120,403
Capital redemption reserve 200 200
Retained earnings 973,276 665,900
SHAREHOLDERS' FUNDS 1,106,299 798,923

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

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

TMB SYSTEMS LIMITED (REGISTERED NUMBER: 02332962)

BALANCE SHEET - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:




A D Burton - Director D Burton - Director




Mrs E M Burton - Director


TMB SYSTEMS LIMITED (REGISTERED NUMBER: 02332962)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

TMB Systems 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 is recognised when the goods are delivered to the customer or the service has been completed save as indicated above where maintenance contracts are involved.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Not provided
Plant and machinery etc - 25% Straight line, 25% on reducing balance and 15% on reducing balance

Assets held for use in operating leases are depreciated over the period of the lease.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


TMB SYSTEMS LIMITED (REGISTERED NUMBER: 02332962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Other operating income
During the year, the company received grant income under the Coronavirus Job Retention Scheme. The grant income is recognised in the period to which the underlying furloughed staff costs relate.

Employment benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
(i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2022 - 50 ) .

TMB SYSTEMS LIMITED (REGISTERED NUMBER: 02332962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 250,000 299,566 549,566
Additions - 167,937 167,937
At 30 June 2023 250,000 467,503 717,503
DEPRECIATION
At 1 July 2022 - 217,383 217,383
Charge for year - 28,544 28,544
At 30 June 2023 - 245,927 245,927
NET BOOK VALUE
At 30 June 2023 250,000 221,576 471,576
At 30 June 2022 250,000 82,183 332,183

Depreciation is not provided on land and buildings as the current fair value is well in excess of cost.

Equipment costing £63,522 (2022 - £63,522) is held for use in operating leases and fully depreciated.

Cost or valuation at 30 June 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2016 70,403 - 70,403
Valuation in 2021 50,000 - 50,000
Cost 129,597 467,503 597,100
250,000 467,503 717,503

If the building had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 129,597 129,597

The building was valued on an open market basis on 30 June 2016 by the directors and Barclays Bank .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,689,900 1,184,998
Other debtors 117,611 85,665
1,807,511 1,270,663

TMB SYSTEMS LIMITED (REGISTERED NUMBER: 02332962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,604 -
Trade creditors 1,045,483 676,029
Taxation and social security 227,563 270,177
Other creditors 671,622 489,092
1,950,272 1,435,298

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 72,741

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 55,236 17,329
Between one and five years 44,045 8,723
In more than five years 29,157 -
128,438 26,052

9. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 120,403

10. ULTIMATE CONTROLLING PARTY

The controlling party is A D Burton.

The ultimate controlling party is A D Burton.