2 2 M.D. Timms & Co Limited 07303102 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of electrical installation. Digita Accounts Production Advanced 6.30.9574.0 true 07303102 2023-08-01 2024-07-31 07303102 2024-07-31 07303102 bus:OrdinaryShareClass1 2024-07-31 07303102 core:RetainedEarningsAccumulatedLosses 2024-07-31 07303102 core:ShareCapital 2024-07-31 07303102 core:CurrentFinancialInstruments 2024-07-31 07303102 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 07303102 core:Non-currentFinancialInstruments 2024-07-31 07303102 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 07303102 core:FurnitureFittings 2024-07-31 07303102 core:MotorVehicles 2024-07-31 07303102 core:OfficeEquipment 2024-07-31 07303102 bus:SmallEntities 2023-08-01 2024-07-31 07303102 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 07303102 bus:FilletedAccounts 2023-08-01 2024-07-31 07303102 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07303102 bus:RegisteredOffice 2023-08-01 2024-07-31 07303102 bus:Director1 2023-08-01 2024-07-31 07303102 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 07303102 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07303102 bus:Agent1 2023-08-01 2024-07-31 07303102 core:ComputerEquipment 2023-08-01 2024-07-31 07303102 core:FurnitureFittings 2023-08-01 2024-07-31 07303102 core:MotorVehicles 2023-08-01 2024-07-31 07303102 core:OfficeEquipment 2023-08-01 2024-07-31 07303102 core:Vehicles 2023-08-01 2024-07-31 07303102 countries:AllCountries 2023-08-01 2024-07-31 07303102 2023-07-31 07303102 core:FurnitureFittings 2023-07-31 07303102 core:MotorVehicles 2023-07-31 07303102 core:OfficeEquipment 2023-07-31 07303102 2022-08-01 2023-07-31 07303102 2023-07-31 07303102 bus:OrdinaryShareClass1 2023-07-31 07303102 core:RetainedEarningsAccumulatedLosses 2023-07-31 07303102 core:ShareCapital 2023-07-31 07303102 core:CurrentFinancialInstruments 2023-07-31 07303102 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07303102 core:Non-currentFinancialInstruments 2023-07-31 07303102 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 07303102 core:FurnitureFittings 2023-07-31 07303102 core:MotorVehicles 2023-07-31 07303102 core:OfficeEquipment 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 07303102

M.D. Timms & Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

M.D. Timms & Co Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

M.D. Timms & Co Limited

Company Information

Director

Mr MD Timms

Registered office

197 Loxley Road
Stratford Upon Avon
Warwickshire
CV37 7DU

Accountants

Neil Westwood & Co
Chartered Accountants101 Dixons Green Road
Dudley
West Midlands
DY2 7DJ

 

M.D. Timms & Co Limited

(Registration number: 07303102)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

78,229

114,182

Current assets

 

Debtors

5

85,746

113,417

Cash at bank and in hand

 

328,882

292,864

 

414,628

406,281

Creditors: Amounts falling due within one year

6

(168,740)

(106,858)

Net current assets

 

245,888

299,423

Total assets less current liabilities

 

324,117

413,605

Creditors: Amounts falling due after more than one year

6

-

(56,108)

Provisions for liabilities

(14,864)

(21,694)

Net assets

 

309,253

335,803

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

309,251

335,801

Shareholders' funds

 

309,253

335,803

 

M.D. Timms & Co Limited

(Registration number: 07303102)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 April 2025
 


Mr MD Timms
Director

 

M.D. Timms & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
197 Loxley Road
Stratford Upon Avon
Warwickshire
CV37 7DU

These financial statements were authorised for issue by the director on 14 April 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.

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 specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

M.D. Timms & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures and fittings

25% on cost

Motor vehicles

25% on cost

Computer equipment

33% on cost

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

M.D. Timms & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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 the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

5,029

7,570

169,969

182,568

Additions

-

849

-

849

At 31 July 2024

5,029

8,419

169,969

183,417

Depreciation

At 1 August 2023

4,960

5,814

57,612

68,386

Charge for the year

69

1,020

35,713

36,802

At 31 July 2024

5,029

6,834

93,325

105,188

Carrying amount

At 31 July 2024

-

1,585

76,644

78,229

At 31 July 2023

69

1,756

112,357

114,182

5

Debtors

Current

2024
£

2023
£

Trade debtors

82,198

112,915

Prepayments

548

502

Other debtors

3,000

-

 

85,746

113,417

 

M.D. Timms & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

56,108

4,917

Trade creditors

 

32,777

52,858

Taxation and social security

 

76,951

46,775

Accruals and deferred income

 

1,335

1,262

Other creditors

 

1,569

1,046

 

168,740

106,858

Creditors: amounts falling due after more than one year

Non-current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

-

56,108

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2