Company registration number 05168881 (England and Wales)
TMS INSIGHT (DATA CAPTURE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
TMS INSIGHT (DATA CAPTURE) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
TMS INSIGHT (DATA CAPTURE) LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
15,469
11,197
Current assets
Stocks
2,000
2,021
Debtors
5
129,585
118,214
Cash at bank and in hand
188,618
86,340
320,203
206,575
Creditors: amounts falling due within one year
6
(287,054)
(162,544)
Net current assets
33,149
44,031
Total assets less current liabilities
48,618
55,228
Provisions for liabilities
(3,868)
(2,799)
Net assets
44,750
52,429
Capital and reserves
Called up share capital
52
52
Profit and loss reserves
44,698
52,377
Total equity
44,750
52,429
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
TMS INSIGHT (DATA CAPTURE) LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 24 November 2024 and are signed on its behalf by:
Andrew Haywood
Director
Company Registration No. 05168881
TMS INSIGHT (DATA CAPTURE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
TMS Insight (Data Capture) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Shakespeare Buildings, 26 Cradley Road, Cradley Heath, West Midlands, B64 6AG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% or 33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
TMS INSIGHT (DATA CAPTURE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised costs using the effective interest method.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
6
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
19,882
5,221
25,103
Amortisation and impairment
At 1 July 2023 and 30 June 2024
19,882
5,221
25,103
Carrying amount
At 30 June 2024
At 30 June 2023
TMS INSIGHT (DATA CAPTURE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
87,095
Additions
15,989
At 30 June 2024
103,084
Depreciation and impairment
At 1 July 2023
75,898
Depreciation charged in the year
11,717
At 30 June 2024
87,615
Carrying amount
At 30 June 2024
15,469
At 30 June 2023
11,197
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
123,424
109,049
Corporation tax recoverable
3,004
Other debtors
6,161
6,161
129,585
118,214
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
13,673
3,219
Corporation tax
86,356
41,325
Other taxation and social security
47,975
39,976
Other creditors
139,050
78,024
287,054
162,544