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Registration number: 10291083

TMN Alloy Repair Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

TMN Alloy Repair Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

TMN Alloy Repair Limited

Company Information

Director

Mr Timothy Spencer Heeley

Registered office

14 Spindle Drive
Wingerworth
Chesterfield
Derbyshire
S42 6BF

Accountants

M.G. Walker & Co. Limited
The Coach House
119a High Street
Clay Cross
Chesterfield
Derbyshire
S45 9DZ

 

TMN Alloy Repair Limited

Director's Report for the Year Ended 31 July 2024

The director presents his report and the financial statements for the year ended 31 July 2024.

Director of the company

The director who held office during the year was as follows:

Mr Timothy Spencer Heeley

Principal activity

The principal activity of the company is Maintenance and repair of motor vehicles

Small companies provision statement

This report has 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.

Approved and authorised by the director on 4 October 2024
 

.........................................
Mr Timothy Spencer Heeley
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
TMN Alloy Repair Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TMN Alloy Repair Limited for the year ended 31 July 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants (AIA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of TMN Alloy Repair Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of TMN Alloy Repair Limited and state those matters that we have agreed to state to the Board of Directors of TMN Alloy Repair Limited, as a body, in this report in accordance with AIA . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TMN Alloy Repair Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that TMN Alloy Repair Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of TMN Alloy Repair Limited. You consider that TMN Alloy Repair Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of TMN Alloy Repair Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

M.G. Walker & Co. Limited
The Coach House
119a High Street
Clay Cross
Chesterfield
Derbyshire
S45 9DZ

4 October 2024

 

TMN Alloy Repair Limited

(Registration number: 10291083)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,244

4,489

Current assets

 

Stocks

6

3,450

3,450

Debtors

7

240

165

Cash at bank and in hand

 

623

879

 

4,313

4,494

Creditors: Amounts falling due within one year

8

(5,573)

(4,286)

Net current (liabilities)/assets

 

(1,260)

208

Net assets

 

984

4,697

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

982

4,695

Shareholders' funds

 

984

4,697

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

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 4 October 2024
 

.........................................
Mr Timothy Spencer Heeley
Director

 

TMN Alloy Repair Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
14 Spindle Drive
Wingerworth
Chesterfield
Derbyshire
S42 6BF
England

These financial statements were authorised for issue by the director on 4 October 2024.

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.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

TMN Alloy Repair Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

Straight Line 3 Yrs

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

TMN Alloy Repair Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,245

2,245

 

TMN Alloy Repair Limited

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

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

15,225

10,095

25,320

At 31 July 2024

15,225

10,095

25,320

Depreciation

At 1 August 2023

13,363

7,468

20,831

Charge for the year

931

1,314

2,245

At 31 July 2024

14,294

8,782

23,076

Carrying amount

At 31 July 2024

931

1,313

2,244

At 31 July 2023

1,861

2,628

4,489

6

Stocks

2024
£

2023
£

Other inventories

3,450

3,450

7

Debtors

Current

2024
£

2023
£

Trade debtors

240

165

 

240

165

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,792

1,143

Taxation and social security

3,749

1,923

Accruals and deferred income

-

1,200

Other creditors

32

20

5,573

4,286

 

TMN Alloy Repair Limited

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

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2