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Registration number: 06422936

TKOOM Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

TKOOM Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

TKOOM Limited

Company Information

Directors

Richard Garner

Sally Garner

Company secretary

Sally Garner

Registered office

9 Hare & Billet Road
Blackheath
SE3 0RB

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

TKOOM Limited

(Registration number: 06422936)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,437

2,279

Investments

6

55,950

54,950

 

59,387

57,229

Current assets

 

Debtors

7

180,673

181,033

Investments

8

124

2,789

Cash at bank and in hand

 

1,607,495

1,335,243

 

1,788,292

1,519,065

Creditors: Amounts falling due within one year

9

(126,964)

(128,974)

Net current assets

 

1,661,328

1,390,091

Net assets

 

1,720,715

1,447,320

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

3,000

2,000

Retained earnings

1,717,615

1,445,220

Shareholders' funds

 

1,720,715

1,447,320

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2025 and signed on its behalf by:
 

.........................................
Richard Garner
Director

 

TKOOM Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Hare & Billet Road
Blackheath
SE3 0RB

These financial statements were authorised for issue by the Board on 14 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and when the service is performed, if the service straddles more than one accounting period, income is recognised on pro rata basis.

 

TKOOM Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

TKOOM Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 5).

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

90,504

81,820

 

TKOOM Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Computer equipment
£

Total
£

Cost or valuation

At 1 December 2023

4,747

11,695

16,442

Additions

3,848

-

3,848

Disposals

(1,923)

(2,517)

(4,440)

At 30 November 2024

6,672

9,178

15,850

Depreciation

At 1 December 2023

3,944

10,218

14,162

Charge for the year

1,270

1,015

2,285

Eliminated on disposal

(1,517)

(2,517)

(4,034)

At 30 November 2024

3,697

8,716

12,413

Carrying amount

At 30 November 2024

2,975

462

3,437

At 30 November 2023

802

1,477

2,279

6

Investments

2024
£

2023
£

Classic car

55,950

54,950

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

360

Amounts owed by related parties

10

180,673

180,673

   

180,673

181,033

8

Current asset investments

2024
£

2023
£

Loans

124

2,789

 

TKOOM Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

125,410

127,464

Accruals and deferred income

1,554

1,510

126,964

128,974

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

15,000

15,000

Defined contribution pension

80,000

40,000

95,000

55,000

Summary of transactions with other related parties

TKOOM Properties Limited
(Company under common control)
At the end of 2022 finiancial year, TKOOM Limited advanced a £180,000 loan to TKOOM Properties Limited. It was agreed that an annual interest will be charged at a rate of 1.5%. A total interest of £2,700 (2023: £2,700) was charged for the year with £2,700 (2023: £2,197) being received in the period. At the balance sheet date the amount due from TKOOM Properties was £180,673 (2023: £180,673).