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REGISTERED NUMBER: 09549649 (England and Wales)















TMT MOTOR COMPANY (UK) LIMITED

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






TMT MOTOR COMPANY (UK) LIMITED (REGISTERED NUMBER: 09549649)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TMT MOTOR COMPANY (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: B Raza





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN





REGISTERED NUMBER: 09549649 (England and Wales)





AUDITORS: DJH Audit Limited
Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

TMT MOTOR COMPANY (UK) LIMITED (REGISTERED NUMBER: 09549649)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 45,677 20,624
Investments 5 75,208 75,208
120,885 95,832

CURRENT ASSETS
Inventories 2,648,837 2,966,340
Debtors 6 730,570 532,907
Cash at bank 446,869 48,870
3,826,276 3,548,117
CREDITORS
Amounts falling due within one year 7 (343,706 ) (584,607 )
NET CURRENT ASSETS 3,482,570 2,963,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,603,455

3,059,342

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 3,603,454 3,059,341
SHAREHOLDERS' FUNDS 3,603,455 3,059,342

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2024 and were signed by:





B Raza - Director


TMT MOTOR COMPANY (UK) LIMITED (REGISTERED NUMBER: 09549649)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

TMT Motor Company (UK) Limited is a private company, limited by shares and registered in England and Wales. The company's registered number is 09549649 and the registered office address is The Exchange, 5 Bank Street, Bury, Lancashire, BL9 0DN.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The director recognises that the future cannot be predicted with certainty. The director expects the company to continue trading and generating profit. Profit before tax for the year ended 30 April 2024 was £718k (year to 30 April 2023: £1,176k), and reserves were £3.60m (as at 30 April 2023: £3.06m). Therefore, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the director continues to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:

Making judgement based on historical experience on the level of provision required for impairment of inventories. Further information received after the statement of financial position date may impact on the level of provision required.

Revenue
Revenue represents the aggregate of the fair value of the sale of motor vehicles, net of value added tax. Sales of motor vehicles are recognised when the company has supplied the vehicle to the customer, the customer has accepted the vehicle and the collection of related receivables is anticipated.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 20% on cost and 10% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

TMT MOTOR COMPANY (UK) LIMITED (REGISTERED NUMBER: 09549649)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Net realisable value is estimated selling price less costs to complete and sell.

Cost is defined as the purchase price of the inventory item.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from other third parties and loans from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Fixed asset investments are recognised at cost less any permanent diminution in value.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

Leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

TMT MOTOR COMPANY (UK) LIMITED (REGISTERED NUMBER: 09549649)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 May 2023 65,357
Additions 29,459
At 30 April 2024 94,816
DEPRECIATION
At 1 May 2023 44,733
Charge for year 4,406
At 30 April 2024 49,139
NET BOOK VALUE
At 30 April 2024 45,677
At 30 April 2023 20,624

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Other 75,208 75,208

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 607,570 415,907
Other debtors 123,000 117,000
730,570 532,907

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 109,460 163,253
Taxation and social security 221,679 411,199
Other creditors 12,567 10,155
343,706 584,607

TMT MOTOR COMPANY (UK) LIMITED (REGISTERED NUMBER: 09549649)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 77,000 35,000
Between one and five years 250,833 128,333
327,833 163,333

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Bell (Senior Statutory Auditor)
for and on behalf of DJH Audit Limited