Registered number
08853117
T.B.S FM Limited
Filleted Accounts
31 January 2024
T.B.S FM Limited
Registered number: 08853117
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 349,936 34,402
Current assets
Debtors 4 724,132 756,122
Cash at bank and in hand 1,168,079 1,071,964
1,892,211 1,828,086
Creditors: amounts falling due within one year 5 (474,421) (650,758)
Net current assets 1,417,790 1,177,328
Total assets less current liabilities 1,767,726 1,211,730
Creditors: amounts falling due after more than one year 6 (49,122) (36,158)
Provisions for liabilities (11,876) (6,536)
Net assets 1,706,728 1,169,036
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,706,727 1,169,035
Shareholder's funds 1,706,728 1,169,036
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J G Orange
Director
Approved by the board on 9 October 2024
T.B.S FM Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 - 1,008 68,215 69,223
Additions 302,434 1,572 31,534 335,540
Disposals - - (25,117) (25,117)
At 31 January 2024 302,434 2,580 74,632 379,646
Depreciation
At 1 February 2023 - 688 34,133 34,821
Charge for the year - 254 9,156 9,410
On disposals - - (14,521) (14,521)
At 31 January 2024 - 942 28,768 29,710
Net book value
At 31 January 2024 302,434 1,638 45,864 349,936
At 31 January 2023 - 320 34,082 34,402
4 Debtors 2024 2023
£ £
Trade debtors 146,516 263,858
JDL Property Limited Loan 550,624 454,624
Other debtors 26,992 37,640
724,132 756,122
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 8,812 3,061
Trade creditors 79,023 278,836
Corporation tax 312,043 218,377
Taxation and social security costs 9,556 49,954
Directors current account 1,163 766
VAT 52,447 86,153
Smart Pension 1,377 1,136
Other creditors - 2,475
474,421 650,758
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,167 24,167
Obligations under finance lease and hire purchase contracts 34,955 11,991
49,122 36,158
7 Other information
T.B.S FM Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 21A Private Road No 2
Colwick Industrial Estate
Nottingham
NG4 2JR
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