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TMHE WAY LIMITED

Registered Number
11393763
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

TMHE WAY LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

AKLILU, Teshale Kidane
MEBRAHTU, Meaza Selemun

Registered Address

2 Hazelwood Close
Staple Hill
Bristol
BS16 5FE

Registered Number

11393763 (England and Wales)
TMHE WAY LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3100,468120,174
100,468120,174
Current assets
Stocks44,2454,744
Debtors58,36417,433
Cash at bank and on hand4,09511,724
16,70433,901
Creditors amounts falling due within one year6(122,011)(115,074)
Net current assets (liabilities)(105,307)(81,173)
Total assets less current liabilities(4,839)39,001
Creditors amounts falling due after one year7(26,210)(31,995)
Provisions for liabilities8(21,445)(27,598)
Net assets(52,494)(20,592)
Capital and reserves
Called up share capital22
Profit and loss account(52,496)(20,594)
Shareholders' funds(52,494)(20,592)
The financial statements were approved and authorised for issue by the Board of Directors on 20 March 2025, and are signed on its behalf by:
AKLILU, Teshale Kidane
Director
MEBRAHTU, Meaza Selemun
Director

Registered Company No. 11393763
TMHE WAY LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery15-
Fixtures and fittings25-
Vehicles25-
Office Equipment15-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year65
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 July 23148,98682,31411,7783332,897246,308
Additions-2,789---2,789
At 30 June 24148,98685,10311,7783332,897249,097
Depreciation and impairment
At 01 July 2374,49344,9245,5661451,006126,134
Charge for year14,8995,7131,5524728422,495
At 30 June 2489,39250,6377,1181921,290148,629
Net book value
At 30 June 2459,59434,4664,6601411,607100,468
At 30 June 2374,49337,3906,2121881,891120,174
4.Stocks

2024

2023

££
Raw materials and consumables4,2454,744
Total4,2454,744
5.Debtors: amounts due within one year

2024

2023

££
Other debtors5,00914,492
Prepayments and accrued income3,3552,941
Total8,36417,433
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables15,5768,922
Bank borrowings and overdrafts10,00010,000
Taxation and social security4,8314,721
Other creditors90,45089,165
Accrued liabilities and deferred income1,1542,266
Total122,011115,074
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,21031,995
Total26,21031,995
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)21,44527,598
Total21,44527,598
9.Directors advances, credits and guarantees
Included in other creditors is an amount of £5,213 (2023: £6,263) relating to the director's loan account Mr T K Aklilu and Mrs M S Mebrahtu.
10.Related party transactions
Included in other creditors is an amount of £60,563 (2023: £60,563) which relates to TMH 2 Consultancy Limited, where Mr T K Aklilu and Mrs M S Mebrahtu are also directors of the company.