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REGISTERED NUMBER: 11994247 (England and Wales)















TML (WEYMOUTH) LTD

Unaudited Financial Statements

for the Period 1 April 2023 to 31 December 2023






TML (WEYMOUTH) LTD (REGISTERED NUMBER: 11994247)

Contents of the Financial Statements
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


TML (WEYMOUTH) LTD

Company Information
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023







DIRECTOR: J D Higson





REGISTERED OFFICE: 19-22 Surrey Close
Granby Industrial Estate
Weymouth
DT4 9TY





REGISTERED NUMBER: 11994247 (England and Wales)





ACCOUNTANTS: Inspired Accountants Limited
Chartered Certified Accountants
4 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7FE

TML (WEYMOUTH) LTD (REGISTERED NUMBER: 11994247)

Statement of Financial Position
31 DECEMBER 2023

31/12/23 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 132,687 148,484

CURRENT ASSETS
Stocks 10,000 33,486
Debtors 5 830,018 1,083,550
Cash at bank 46 -
840,064 1,117,036
CREDITORS
Amounts falling due within one year 6 620,409 922,532
NET CURRENT ASSETS 219,655 194,504
TOTAL ASSETS LESS CURRENT LIABILITIES 352,342 342,988

CREDITORS
Amounts falling due after more than one year 7 477,952 202,988
NET (LIABILITIES)/ASSETS (125,610 ) 140,000

CAPITAL AND RESERVES
Called up share capital 20 20
Revaluation reserve 8 79,513 99,532
Retained earnings (205,143 ) 40,448
SHAREHOLDERS' FUNDS (125,610 ) 140,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 December 2024 and were signed by:




J D Higson - Director


TML (WEYMOUTH) LTD (REGISTERED NUMBER: 11994247)

Notes to the Financial Statements
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023


1. STATUTORY INFORMATION

TML (Weymouth) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Plant and machinery are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairments losses. Revaluations are performed by the director with sufficient regularity to ensure the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of the revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.
Any revaluation increase in the carrying amount of plant and machinery is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended.
Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset's original cost is transferred from revaluation reserve to retained earnings.
Fixture and fitting and computer equipment are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery20% on reducing balance
Fixtures and fittings20% on reducing balance
Motor vehicles25% on reducing balance
Office equipment25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finishing goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the period 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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

TML (WEYMOUTH) LTD (REGISTERED NUMBER: 11994247)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 16 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 April 2023 168,768
Additions 7,700
At 31 December 2023 176,468
DEPRECIATION
At 1 April 2023 20,284
Charge for period 23,497
At 31 December 2023 43,781
NET BOOK VALUE
At 31 December 2023 132,687
At 31 March 2023 148,484

TML (WEYMOUTH) LTD (REGISTERED NUMBER: 11994247)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Plant and
machinery
etc
£   
Valuation in 2023 176,468

If Plant and machinery had not been revalued it would have been included at the following historical cost:

31/12/23 31/3/23
£    £   
Cost 96,152 96,152

Plant and machinery was valued on an open market basis on 31 March 2023 by the director .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 April 2023
and 31 December 2023 131,000
DEPRECIATION
At 1 April 2023 3,660
Charge for period 19,101
At 31 December 2023 22,761
NET BOOK VALUE
At 31 December 2023 108,239
At 31 March 2023 127,340

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/3/23
£    £   
Trade debtors 819,226 80,151
Other debtors 10,792 1,003,399
830,018 1,083,550

TML (WEYMOUTH) LTD (REGISTERED NUMBER: 11994247)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/3/23
£    £   
Bank loans and overdrafts - 15,467
Hire purchase contracts 7,002 7,050
Trade creditors 64,442 282,791
Taxation and social security 403,442 465,784
Other creditors 145,523 151,440
620,409 922,532

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/23 31/3/23
£    £   
Hire purchase contracts 2,489 7,235
Other creditors 475,463 195,753
477,952 202,988

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023 99,532
Transfer (20,019 )

At 31 December 2023 79,513