REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH MAY 2023 |
FOR |
TMH COMMERCIAL VEHICLES LTD |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Motor vehicles | - |
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 |
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 |
Additions |
At 30th May 2023 |
DEPRECIATION |
At 31st May 2022 |
Charge for year |
At 30th May 2023 |
NET BOOK VALUE |
At 30th May 2023 |
At 30th May 2022 |
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 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Social security and other taxes |
VAT | 1,365 | 11,239 |
Other creditors |
Directors' current accounts | 3,051 | 39 |
Accruals |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 2-5 years |
Hire purchase contracts |
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 |
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. |