Company registration number 11908907 (England and Wales)
TM&Z LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TM&Z LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
TM&Z LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,915
37,939
Investment property
4
1,201,850
1,110,358
1,231,765
1,148,297
Current assets
Stocks
642,098
642,098
Debtors
5
11,609
180
Cash at bank and in hand
357,748
532,050
1,011,455
1,174,328
Creditors: amounts falling due within one year
6
(1,481,144)
(1,537,675)
Net current liabilities
(469,689)
(363,347)
Total assets less current liabilities
762,076
784,950
Creditors: amounts falling due after more than one year
7
(432,200)
(432,200)
Net assets
329,876
352,750
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
329,676
352,550
Total equity
329,876
352,750
TM&Z LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 13 June 2025 and are signed on its behalf by:
Miss Z B Taj
Director
Company registration number 11908907 (England and Wales)
TM&Z LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
TM&Z Limited is a private company limited by shares incorporated in England and Wales. The registered office is 555-557 Cranbrook Road, Gants Hill, Ilford, Essex, United Kingdom, IG2 6HE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises rental income derived from investment properties.
Rental income is recognized on a straight-line basis over the lease term, reflecting the pattern in which economic benefits from the leased assets are earned. Any lease incentives offered are spread over the lease term on the same basis.
All amounts are shown net of value-added tax (VAT) and trade discounts
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
20%, Straight line method
Motor vehicles
20%, Straight line method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
TM&Z LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
18,450
35,537
53,987
Depreciation and impairment
At 1 October 2023
1,834
14,214
16,048
Depreciation charged in the year
917
7,107
8,024
At 30 September 2024
2,751
21,321
24,072
Carrying amount
At 30 September 2024
15,699
14,216
29,915
At 30 September 2023
16,616
21,323
37,939
4
Investment property
2024
£
Fair value
At 1 October 2023
1,110,358
Additions
91,492
At 30 September 2024
1,201,850
Investment property valuation was made by the director on an open market value basis by reference to market evidence of transaction prices for similar properties.
TM&Z LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
11,609
180
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,478,444
1,534,975
Accruals
2,700
2,700
1,481,144
1,537,675
Included within other creditors, there is an amount of £1,478,443 (2023: £1,534,975) owed to the directors of company. The balance is unsecured, interest-free, and repayable on demand.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
432,200
432,200
The bank loans are secured by a fixed charge over the assets of the company.