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TM Consultants Limited
























Financial statements 



For the year ended 31 January 2024



Registered number: 01829425

 
TM Consultants Limited - Registered number:01829425


Statement of financial position
As at 31 January 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
-
1,532

  
-
1,532

Current assets
  

Debtors: amounts falling due within one year
 6 
314,373
85,863

Cash at bank and in hand
  
40,777
116,916

  
355,150
202,779

Creditors: amounts falling due within one year
 7 
(44,134)
(80,547)

Net current assets
  
 
 
311,016
 
 
122,232

Total assets less current liabilities
  
311,016
123,764

  

Net assets
  
311,016
123,764


Capital and reserves
  

Share capital
  
20,000
20,000

Profit and loss account
  
291,016
103,764

  
311,016
123,764


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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board on 31 October 2024 and were signed on its behalf by:




................................................
T Walden-Jones
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
TM Consultants Limited
 
 

Notes to the financial statements
For the year ended 31 January 2024

1.


General information

TM Consultants Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business is Hays House, Millmead, Guildford, England, GU2 4HJ. The company registration number is 01829425.                                                                                 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 2

 
TM Consultants Limited
 

Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requirees management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the year end date and the amounts reported for revenues and expenses during the year. 

Page 3

 
TM Consultants Limited
 
 

Notes to the financial statements
For the year ended 31 January 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 4).


5.


Tangible fixed assets





Fixtures and fittings

£



Cost 


At 1 February 2023
4,914


Disposals
(4,914)



At 31 January 2024

-





At 1 February 2023
3,381


Disposals
(3,381)



At 31 January 2024

-



Net book value



At 31 January 2024
-



At 31 January 2023
1,532


6.


Debtors

2024
2023
£
£


Trade debtors
29,680
85,863

Amounts owed by group undertakings
284,693
-

314,373
85,863


Page 4

 
TM Consultants Limited
 
 

Notes to the financial statements
For the year ended 31 January 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,600
5,554

Corporation tax
4,923
20,639

Other taxation and social security
13,811
49,203

Accruals and deferred income
18,800
5,151

44,134
80,547



8.


Controlling party

TM Consultants Limited is a wholly owned subsidiary of Open Energy Market Limited. The registered office address of Open Energy Market Limited is Hays House, Millmead, Guildford, GU2 4HJ.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 31 October 2024 by Simon Wax (Senior statutory auditor) on behalf of Buzzacott LLP.

Page 5