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Registered number: 03795212
TFL Management Services Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Ms Mercedes Le Carpentier
Mr Alexis Minchin
Ms Harriet Richardson
Ms Cecilia Brooks
Ms Joanne Tyler
Company Number 03795212
Registered Office 4 Talina Centre
Bagleys Lane
London
SW6 2BW
Accountants Town & Forest
Chartered Accountants & Statutory Auditors
First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
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Balance Sheet
Registered number: 03795212
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,288 7,689
9,288 7,689
CURRENT ASSETS
Debtors 5 3,484,668 3,394,915
Cash at bank and in hand 13,635 5,028
3,498,303 3,399,943
Creditors: Amounts Falling Due Within One Year 6 (952,094 ) (157,462 )
NET CURRENT ASSETS (LIABILITIES) 2,546,209 3,242,481
TOTAL ASSETS LESS CURRENT LIABILITIES 2,555,497 3,250,170
Creditors: Amounts Falling Due After More Than One Year 7 (3,609,437 ) (3,992,623 )
NET LIABILITIES (1,053,940 ) (742,453 )
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account (1,053,942 ) (742,455 )
SHAREHOLDERS' FUNDS (1,053,940) (742,453)
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
Ms Mercedes Le Carpentier
Director
31 January 2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
TFL Management Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03795212 . The registered office is 4 Talina Centre, Bagleys Lane, London, SW6 2BW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£).
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 
2.2. Going Concern Disclosure
At 30 April 2024, the balance sheet showed net current assets of £2,546,209 (2023 - £3,242,481) but a net deficit of £1,053,940 (2023 - £742,453). The directors have given an undertaking to financially support the company for at least 12 months from the date of signature on the balance sheet. The situation will be reviewed after this time. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. 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:
Plant & Machinery 25% on reducing balance
Fixtures & Fittings Fully depreciated
Computer Equipment 50% on cost
Fixtures & Fittings represent Improvements to Property. Improvements to Property have been fully depreciated.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.
2.6. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
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 recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from those in which they are recognised in the 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
2.9. Trade debtors
Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 20)
22 20
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 114,495 182,630 60,049 357,174
Additions - - 3,756 3,756
As at 30 April 2024 114,495 182,630 63,805 360,930
Depreciation
As at 1 May 2023 114,495 182,630 52,360 349,485
Provided during the period - - 2,157 2,157
As at 30 April 2024 114,495 182,630 54,517 351,642
Net Book Value
As at 30 April 2024 - - 9,288 9,288
As at 1 May 2023 - - 7,689 7,689
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 7,920
Prepayments and accrued income 1,594,693 1,612,594
Other debtors 34,951 14,576
Amounts owed by group undertakings 165,948 143,953
Amounts owed by associates 1,689,076 1,615,872
3,484,668 3,394,915
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 65,514 94,323
Bank loans and overdrafts 10,648 10,648
VAT 98,208 45,985
Net wages - 53
Other creditors 777,724 6,453
952,094 157,462
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,807 19,861
Other taxes and social security 162,429 99,212
Amounts owed to group undertakings 2,568,413 2,531,837
Amounts owed to associates 868,788 1,341,713
3,609,437 3,992,623
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