BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the development of properties. 18 June 2024 0 0 05503078 2023-12-31 05503078 2022-12-31 05503078 2021-12-31 05503078 2023-01-01 2023-12-31 05503078 2022-01-01 2022-12-31 05503078 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05503078 uk-curr:PoundSterling 2023-01-01 2023-12-31 05503078 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05503078 uk-bus:FullAccounts 2023-01-01 2023-12-31 05503078 uk-core:ShareCapital 2023-12-31 05503078 uk-core:ShareCapital 2022-12-31 05503078 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 05503078 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 05503078 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 05503078 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 05503078 uk-bus:FRS102 2023-01-01 2023-12-31 05503078 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05503078 uk-core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05503078 uk-core:WithinOneYear 2023-12-31 05503078 uk-core:WithinOneYear 2022-12-31 05503078 uk-core:WithinOneYear 2023-12-31 05503078 uk-core:WithinOneYear 2022-12-31 05503078 uk-core:EmployeeBenefits 2022-12-31 05503078 uk-core:EmployeeBenefits 2023-01-01 2023-12-31 05503078 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 05503078 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 05503078 uk-core:OtherDeferredTax 2023-12-31 05503078 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 05503078 uk-core:EmployeeBenefits 2023-12-31 05503078 2023-01-01 2023-12-31 05503078 uk-bus:Director1 2023-01-01 2023-12-31 05503078 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: 05503078
 
 
TMK Developments Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2023
TMK Developments Limited
Company Registration Number: 05503078
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 58 87
───────── ─────────
 
Current Assets
Debtors 5 828 42
Cash and cash equivalents 417,150 437,803
───────── ─────────
417,978 437,845
───────── ─────────
Creditors: amounts falling due within one year 6 (364,865) (304,772)
───────── ─────────
Net Current Assets 53,113 133,073
───────── ─────────
Total Assets less Current Liabilities 53,171 133,160
 
Provisions for liabilities 7 10,431 6,633
───────── ─────────
Net Assets 63,602 139,793
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 63,502 139,693
───────── ─────────
Equity attributable to owners of the company 63,602 139,793
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 18 June 2024 and signed on its behalf by
           
           
________________________________          
Treena O'Reilly          
Director          
           



TMK Developments Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
TMK Developments Limited is a company limited by shares incorporated and registered in the England. The registered number of the company is 05503078. The registered office of the company is 15 Adelaide Road, Leamington Spa, Warwickshire, CV31 3PN, England which is also the principal place of business of the company. The principal activity of the company is the development of properties. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Straight line
  Computer Equipment - 33% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 1, (2022 - 1).
         
4. Tangible assets
  Fixtures, Computer Total
  fittings and Equipment  
  equipment    
  £ £ £
Cost
At 1 January 2023 10,547 952 11,499
  ───────── ───────── ─────────
 
At 31 December 2023 10,547 952 11,499
  ───────── ───────── ─────────
Depreciation
At 1 January 2023 10,547 865 11,412
Charge for the financial year - 29 29
  ───────── ───────── ─────────
At 31 December 2023 10,547 894 11,441
  ───────── ───────── ─────────
Net book value
At 31 December 2023 - 58 58
  ═════════ ═════════ ═════════
At 31 December 2022 - 87 87
  ═════════ ═════════ ═════════
       
5. Debtors 2023 2022
  £ £
 
Taxation 828 42
  ═════════ ═════════
       
6. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 30,000 30,000
Trade creditors 1,027 -
Directors' current accounts 332,338 273,472
Accruals 1,500 1,300
  ───────── ─────────
  364,865 304,772
  ═════════ ═════════
           
7. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2023 2022
  £ £ £ £
 
At financial year start 17 (6,650) (6,633) (3,631)
Charged to profit and loss (6) (3,792) (3,798) (3,002)
  ───────── ───────── ───────── ─────────
At financial year end 11 (10,442) (10,431) (6,633)
  ═════════ ═════════ ═════════ ═════════
       
8. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
           
9. Related party transactions
 
The directors had an opening directors loan account balance of £273,472. During the year TMK Developments borrowed £69,096 and repaid £10,230 to the directors, leaving a closing balance of £332,338 (2022: £273,472), which is included in the creditors section of the balance sheet.
   
10. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.