TME Investments Limited 12053048 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property investment and rental. Digita Accounts Production Advanced 6.30.9574.0 true true 12053048 2023-04-01 2024-03-31 12053048 2024-03-31 12053048 bus:OrdinaryShareClass1 2024-03-31 12053048 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12053048 core:Non-currentFinancialInstruments 2024-03-31 12053048 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12053048 bus:SmallEntities 2023-04-01 2024-03-31 12053048 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12053048 bus:FilletedAccounts 2023-04-01 2024-03-31 12053048 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12053048 bus:RegisteredOffice 2023-04-01 2024-03-31 12053048 bus:Director1 2023-04-01 2024-03-31 12053048 bus:Director2 2023-04-01 2024-03-31 12053048 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12053048 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12053048 countries:AllCountries 2023-04-01 2024-03-31 12053048 2023-03-31 12053048 2022-04-01 2023-03-31 12053048 2023-03-31 12053048 bus:OrdinaryShareClass1 2023-03-31 12053048 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12053048 core:Non-currentFinancialInstruments 2023-03-31 12053048 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12053048

TME Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

TME Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

TME Investments Limited

Company Information

Directors

Mr S Forss

Mrs C Forss

Registered office

Unit 12
Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

Accountants

Fuller & Roper Limited
Unit 12 Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

 

TME Investments Limited

(Registration number: 12053048)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

864,637

864,637

Current assets

 

Cash at bank and in hand

 

25,282

16,227

Creditors: Amounts falling due within one year

5

(234,697)

(233,295)

Net current liabilities

 

(209,415)

(217,068)

Total assets less current liabilities

 

655,222

647,569

Creditors: Amounts falling due after more than one year

5

(578,675)

(578,675)

Provisions for liabilities

(12,350)

(12,350)

Net assets

 

64,197

56,544

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

64,097

56,444

Shareholders' funds

 

64,197

56,544

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

 

TME Investments Limited

(Registration number: 12053048)
Balance Sheet as at 31 March 2024

.........................................
Mr S Forss
Director

.........................................
Mrs C Forss
Director

 
     
 

TME Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

TME Investments Limited is a private company limited by shares, incorporated in England & Wales. The address of the registered office is given in the company information on page 1 of these financial statements.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents rental income receivable in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

TME Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 April

864,637

At 31 March

864,637

The investment property valuation has been estimated by the directors at 31 March 2024. The valuation was made on an open market value basis, by reference to other similar properties.

 

TME Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,795

519

Accruals and deferred income

984

858

Other creditors

231,918

231,918

234,697

233,295

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

578,675

578,675

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

578,675

578,675

Bank borrowings

Bank loans totalling £578,675 (2023 - £578,675) are secured by way of charges over the company's investment properties.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

TME Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Related party transactions

Included within other creditors is a loan of £231,000 (2023 - £231,000) from Forss Holdings Limited, a company under common control.

Also included within other creditors is a loan of £918 (2023 - £918) from the directors of the company.

Both of these balances are unsecured, interest free and repayable on demand.