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Registered Number: 14524539
England and Wales

 

 

 

TMM ELECTRICS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
Directors Terrence Maloney
Hannah Moore
Registered Number 14524539
Registered Office Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
Kent
TN4 9PA
Accountants OMB Tax Limited
Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2024.
Principal activities
The principal activity of the Company during the financial year was that of the installation of energy saving electrical equipment.  
Directors
The directors who served throughout the year were as follows:
Terrence Maloney
Hannah Moore
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.  Company law requires the directors to prepare financial statements for each financial year.  Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102).  Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the profit or loss of the Company for that year.. In preparing these financial statements, the directors are required to:

- Select suitable accounting policies and then apply them consistently;
- Make judgements and accounting estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards have been followed (subject to any material departures disclosed); and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume continuation.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006.  They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website.

Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Terrence Maloney
Director

Date approved: 17 January 2025
2
You consider that the Company is exempt from an audit for the year ended 31 December 2024.

You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.  These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the Company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the accounting records of the Company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently, we do not express any opinion on these accounts.



OMB Tax Limited

Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
17 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 42,071    19,790 
42,071    19,790 
Current assets      
Stocks 4 7,250    3,215 
Debtors 5 25,558    11,905 
Cash at bank and in hand 13,940    8,583 
46,748    23,703 
Creditors: amount falling due within one year 6 (57,765)   (24,318)
Net current assets (11,017)   (615)
 
Total assets less current liabilities 31,054    19,175 
Creditors: amount falling due after more than one year 7 (18,249)   (19,045)
Net assets 12,805    130 
 

Capital and reserves
     
Called up share capital 8 100    1 
Profit and loss account 12,705    129 
Shareholders' funds 12,805    130 
 


For the year ended 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 17 January 2025 and were signed on its behalf by:


-------------------------------
Terrence Maloney
Director
4
General Information
TMM Electrics Limited is a private company, limited by shares, registered in England and Wales, under registration number 14524539, at Unit 10, Clayfield Mews, Newcomen Road, Tunbridge Wells, Kent, TN4 9PA.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A), the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared in sterling [which is the functional currency of the Company], under the historical cost convention in accordance with the accounting policies.
Going concern basis
The directors believe the Company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable recognised in the Profit & Loss account.  The Company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.  Tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Vans 20% Reducing Balance
Plant and machinery 20% Reducing Balance
Computer equipment 18% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items. 
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and machinery   Computer equipment   Vans   Total
  £   £   £   £
At 01 January 2024 4,695      18,500    23,195 
Additions 2,397    4,440    24,815    31,652 
Disposals      
At 31 December 2024 7,092    4,440    43,315    54,847 
Depreciation
At 01 January 2024 939      2,466    3,405 
Charge for year 1,230    799    7,342    9,371 
On disposals      
At 31 December 2024 2,169    799    9,808    12,776 
Net book values
Closing balance as at 31 December 2024 4,923    3,641    33,507    42,071 
Opening balance as at 01 January 2024 3,756      16,034    19,790 

The net book value of Vans includes £ 33,507 (2023 £16,034) in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2024
£
  2023
£
Stocks 7,250    3,215 
7,250    3,215 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 22,258    11,905 
22,258    11,905 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 3,300   
3,300   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Other Creditors 57,765    24,318 
57,765    24,318 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 18,249    19,045 
18,249    19,045 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100   
100   

9.

Indebtedness

Included within creditors, the Company has obligations under hire purchase contracts secured on the underlying asset repayable by monthly instalments:

Within 12 months £15,180.
Between 2 and 5 years £16,729.

Included within creditors, the Company has unsecured loan obligations repayable by monthly instalments:

Within 12 months £16,520.
5