Company registration number 09757403 (England and Wales)
TML PARTNERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
TML PARTNERS LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
TML PARTNERS LTD
COMPANY INFORMATION
- 1 -
Directors
Mr S Bassett
Mr K Winfield
Mr C Green
Company number
09757403
Registered office
71-75 Shelton Street
London
WC2H 9JQ
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
TML PARTNERS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,625
40,925
Current assets
Debtors
4
784,803
615,120
Cash at bank and in hand
596,346
1,051,654
1,381,149
1,666,774
Creditors: amounts falling due within one year
5
(648,468)
(881,536)
Net current assets
732,681
785,238
Total assets less current liabilities
762,306
826,163
Creditors: amounts falling due after more than one year
6
-
0
(53,771)
Provisions for liabilities
(7,358)
(17,235)
Net assets
754,948
755,157
Capital and reserves
Called up share capital
7
76
76
Share premium account
900
900
Capital redemption reserve
29
29
Profit and loss reserves
753,943
754,152
Total equity
754,948
755,157
TML PARTNERS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
Mr S  Bassett
Director
Company Registration No. 09757403
TML PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

TML Partners Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 71-75 Shelton Street, London, WC2H 9JQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
2% straight line
Fixtures and fittings
33% straight line
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

TML PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

TML PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
24
20
TML PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
14,761
35,417
54,593
104,771
Additions
-
0
-
0
8,048
8,048
Disposals
-
0
-
0
(6,657)
(6,657)
At 31 December 2023
14,761
35,417
55,984
106,162
Depreciation and impairment
At 1 January 2023
14,761
17,016
32,070
63,847
Depreciation charged in the year
-
4,513
11,008
15,521
Eliminated in respect of disposals
-
0
-
0
(2,830)
(2,830)
At 31 December 2023
14,761
21,529
40,248
76,538
Carrying amount
At 31 December 2023
-
13,888
15,736
29,624
At 31 December 2022
-
18,401
22,523
40,925
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
324,352
419,645
Other debtors
460,451
195,475
784,803
615,120
TML PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
53,771
86,152
Trade creditors
67,053
66,307
Taxation and social security
197,875
297,316
Other creditors
329,769
431,761
648,468
881,536

 

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-
0
53,771
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
A ordinary shares of 0.0001p each
550,000
550,000
55
55
B ordinary shares of 0.0001p each
135,120
135,120
13
13
C ordinary shares of 0.0001p each
76,125
76,125
8
8
761,245
761,245
76
76
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
23,439
45,360
2023-12-312023-01-01false30 August 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr S BassettMr K WinfieldMr C Greenfalsefalse097574032023-01-012023-12-3109757403bus:Director12023-01-012023-12-3109757403bus:Director22023-01-012023-12-3109757403bus:Director32023-01-012023-12-3109757403bus:RegisteredOffice2023-01-012023-12-31097574032023-12-31097574032022-12-3109757403core:FurnitureFittings2023-12-3109757403core:ComputerEquipment2023-12-3109757403core:FurnitureFittings2022-12-3109757403core:ComputerEquipment2022-12-3109757403core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3109757403core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109757403core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3109757403core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3109757403core:CurrentFinancialInstruments2023-12-3109757403core:CurrentFinancialInstruments2022-12-3109757403core:ShareCapital2023-12-3109757403core:ShareCapital2022-12-3109757403core:SharePremium2023-12-3109757403core:SharePremium2022-12-3109757403core:CapitalRedemptionReserve2023-12-3109757403core:CapitalRedemptionReserve2022-12-3109757403core:RetainedEarningsAccumulatedLosses2023-12-3109757403core:RetainedEarningsAccumulatedLosses2022-12-3109757403core:ShareCapitalOrdinaryShares2022-12-3109757403core:LandBuildingscore:LongLeaseholdAssets2023-01-012023-12-3109757403core:FurnitureFittings2023-01-012023-12-3109757403core:ComputerEquipment2023-01-012023-12-31097574032022-01-012022-12-3109757403core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-12-3109757403core:FurnitureFittings2022-12-3109757403core:ComputerEquipment2022-12-31097574032022-12-3109757403core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-12-3109757403core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-01-012023-12-3109757403core:WithinOneYear2023-12-3109757403core:WithinOneYear2022-12-3109757403core:Non-currentFinancialInstruments2023-12-3109757403core:Non-currentFinancialInstruments2022-12-3109757403bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109757403bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109757403bus:FRS1022023-01-012023-12-3109757403bus:AuditExemptWithAccountantsReport2023-01-012023-12-3109757403bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP