TVM SERVICES LTD

Company Registration Number:
10160803 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

TVM SERVICES LTD

Contents of the Financial Statements

for the Period Ended 31 May 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 10

TVM SERVICES LTD

Company Information

for the Period Ended 31 May 2024




Director: Trifon Minchev
Registered office: 124
City Road
London
England
EC1V 2NX
Company Registration Number: 10160803 (England and Wales)

TVM SERVICES LTD

Balance sheet

As at 31 May 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 98 588
Total fixed assets: 98 588
Current assets
Debtors: 5 360 540
Cash at bank and in hand: 36,998 30,033
Total current assets: 37,358 30,573
Creditors: amounts falling due within one year: 6 ( 2,502 ) ( 2,194 )
Net current assets (liabilities): 34,856 28,379
Total assets less current liabilities: 34,954 28,967
Provision for liabilities: ( 19 ) ( 112 )
Total net assets (liabilities): 34,935 28,855

The notes form part of these financial statements

TVM SERVICES LTD

Balance sheet continued

As at 31 May 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 34,835 28,755
Shareholders funds: 34,935 28,855

For the year ending 31 May 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 22 February 2025
And Signed On Behalf Of The Board By:

Name: Trifon Minchev
Status: Director

The notes form part of these financial statements

TVM SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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.

    Tangible fixed assets depreciation policy

    2.3.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% Straight line

TVM SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies (continued)

    Other accounting policies

    2.4.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 years 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 assets reflect 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.

TVM SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 1 1

TVM SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 3. Off balance sheet disclosure

    No

TVM SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Tangible assets

Plant & machinery Total
Cost £ £
At 01 June 2023 4,154 4,154
Additions 130 130
Disposals - -
Revaluations - -
Transfers - -
At 31 May 2024 4,284 4,284
Depreciation
At 01 June 2023 3,566 3,566
Charge for year 620 620
On disposals - -
Other adjustments - -
At 31 May 2024 4,186 4,186
Net book value
At 31 May 2024 98 98
At 31 May 2023 588 588

TVM SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Debtors


2024
£

2023
£
Trade debtors 360 540
Total 360 540

TVM SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

6.Creditors: amounts falling due within one year note


2024
£

2023
£
Taxation and social security 2,252 1,913
Accruals and deferred income 250 281
Total 2,502 2,194