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Registered number: 03423777
TDM GROUP LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ten Forward Accounting Ltd
Chartered Certified Accountants
1 Mountview Court
310 Friern Barnet Lane
London
N20 0LD
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Statement of Financial Position
Registered number: 03423777
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 7,308
Tangible Assets 5 169,559 177,939
Investments 6 55,631 55,631
225,190 240,878
CURRENT ASSETS
Debtors 7 1,207,977 1,221,782
Cash at bank and in hand 546,887 747,351
1,754,864 1,969,133
Creditors: Amounts Falling Due Within One Year 8 (1,003,929 ) (983,376 )
NET CURRENT ASSETS (LIABILITIES) 750,935 985,757
TOTAL ASSETS LESS CURRENT LIABILITIES 976,125 1,226,635
Creditors: Amounts Falling Due After More Than One Year 9 (97,028 ) (157,447 )
NET ASSETS 879,097 1,069,188
CAPITAL AND RESERVES
Called up share capital 10 51,158 51,501
Share premium account 356,084 356,084
Capital redemption reserve 1,018 675
Income Statement 470,837 660,928
SHAREHOLDERS' FUNDS 879,097 1,069,188
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Tarek Meliti
Director
20 December 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
TDM GROUP LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 03423777 . The registered office is 2nd Floor Connaught House, 1-3 Mount Street, (Entrance Via Davies Street), London, W1K 3NB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25.00% Straight Line Basis
Plant & Machinery 33.33% Straight Line Basis
Motor Vehicles 25.00% Straight Line Basis
Computer Equipment 25.00% Straight Line Basis
Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. 
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 
Debt instruments are subsequently measured at amortised cost. 
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. 
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2022: 26)
23 26
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 438,469
As at 31 December 2023 438,469
Amortisation
As at 1 January 2023 431,161
Provided during the period 7,308
As at 31 December 2023 438,469
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 7,308
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 158,948 7,610 37,083 1,762,444 1,966,085
Additions 17,267 - - 43,804 61,071
As at 31 December 2023 176,215 7,610 37,083 1,806,248 2,027,156
Depreciation
As at 1 January 2023 114,324 7,610 10,043 1,656,169 1,788,146
Provided during the period 12,169 - 9,271 48,011 69,451
As at 31 December 2023 126,493 7,610 19,314 1,704,180 1,857,597
Net Book Value
As at 31 December 2023 49,722 - 17,769 102,068 169,559
As at 1 January 2023 44,624 - 27,040 106,275 177,939
6. Investments
Unlisted
£
Cost
As at 1 January 2023 55,631
As at 31 December 2023 55,631
Provision
As at 1 January 2023 -
As at 31 December 2023 -
...CONTINUED
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Net Book Value
As at 31 December 2023 55,631
As at 1 January 2023 55,631
On 23 March 2021 the company formed TDM Group LLC a company incorporated in the United States with no share capital. TDM Group Ltd fully owns TDM Group LLC.
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 605,644 815,408
Prepayments and accrued income 384,267 280,112
Other debtors 55,789 42,097
Director's loan account 152,644 5,641
Amounts owed by group undertakings 9,633 78,524
1,207,977 1,221,782
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 568,837 470,889
Corporation tax - 1,904
Other taxes and social security 29,019 32,409
VAT 109,872 174,311
Other creditors 174,086 188,116
Deferred tax current liability 5,011 5,011
Accruals and deferred income 116,904 110,536
Amounts owed to group undertakings 200 200
1,003,929 983,376
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 97,028 157,447
97,028 157,447
On 25 September 2020, the company obtained an unsecured CBILS from Barclays Bank plc in the sum of £250,000. The loan is repayable over 72 months on a fixed interest rate of 2.5% from the date of the drawdown.
In November 2021, the company entered into a Hire  Purchase agreement which is repayable over four years.
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10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
5,115,804 Ordinary A shares of £ 0.01 each 51,158 51,501
Shares disposed during the period: £
34,284 Ordinary A shares of £ 0.01 each (343)
In June 2023 the company bought back 34,284 Ordinary A shares of a nominal value of £0.01, at a premium of £17.142. The shares were subsequently cancelled.
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as follows:
2023 2022
£ £
Not later than one year 71,466 72,759
Later than one year and not later than five years 52,414 123,880
123,880 196,639
12. Directors Advances, Credits and Guarantees
During the year, the director was advanced £ 212,956 and repaid £65,953. Interest at the approved HMRC rate has been applied to the loan. The balance at the year end was £152,644. The above loan was fully repaid on 30 September 2024.
13. Related Party Transactions
ASI Protect LtdThe company fully owns ASI Protect Ltd (formerly TDM Communications Ltd)At the year end, included in the balance sheet, there is a net accrual of £132,733 owed by ASI.

ASI Protect Ltd

The company fully owns ASI Protect Ltd (formerly TDM Communications Ltd)

At the year end, included in the balance sheet, there is a net accrual of £132,733 owed by ASI.

Chesterfield Global Ventures LtdChesterfield Global Ventures Ltd ownes 51 % of the issued share capital in the company.During the year, Chesterfield Global Ventures Ltd invoiced the company £147,002 (2022: £0). At the year end, this amount is included in creditors.

Chesterfield Global Ventures Ltd

Chesterfield Global Ventures Ltd ownes 51 % of the issued share capital in the company.

During the year, Chesterfield Global Ventures Ltd invoiced the company £147,002 (2022: £0). At the year end, this amount is included in creditors.

TDM Group LLCThe company fully owns TDM Group LLC.During the year the TDM Group LLC repaid the company £68,891 (2022: £Nil) of the financial assistance provided previously. At year end TDM LLC owed the company £9,633 (2022: £78,524).

TDM Group LLC

The company fully owns TDM Group LLC.

During the year the TDM Group LLC repaid the company £68,891 (2022: £Nil) of the financial assistance provided previously. At year end TDM LLC owed the company £9,633 (2022: £78,524).

14. Controlling Party
The company's controlling party is Chesterfield Global Ventures Ltd by virtue of their ownership of 51 % of the issued share capital in the company.
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