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Registered number: 02882126
Technical Resource Midlands Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Solid Rock Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02882126
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,137 2,137
Tangible Assets 5 65,501 87,121
67,638 89,258
CURRENT ASSETS
Debtors 6 36,005 71,997
Cash at bank and in hand 11,928 24,737
47,933 96,734
Creditors: Amounts Falling Due Within One Year 7 (11,395 ) (47,125 )
NET CURRENT ASSETS (LIABILITIES) 36,538 49,609
TOTAL ASSETS LESS CURRENT LIABILITIES 104,176 138,867
Creditors: Amounts Falling Due After More Than One Year 8 (2,657 ) (15,761 )
NET ASSETS 101,519 123,106
CAPITAL AND RESERVES
Called up share capital 9 74 74
Profit and Loss Account 101,445 123,032
SHAREHOLDERS' FUNDS 101,519 123,106
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martyn Bright
Director
09/06/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Technical Resource Midlands Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02882126 . The registered office is Church Farm, Wilkinson Lane, Elmesthorpe, Leicestershire, LE16 7SP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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:
Freehold 0%
Plant & Machinery 20%
Motor Vehicles 25%
Fixtures & Fittings 20%
2.5. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 2,137
As at 31 December 2024 2,137
Net Book Value
As at 31 December 2024 2,137
As at 1 January 2024 2,137
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 4,250 145,361 4,170 153,781
As at 31 December 2024 4,250 145,361 4,170 153,781
Depreciation
As at 1 January 2024 3,359 61,427 1,874 66,660
Provided during the period 178 20,983 459 21,620
As at 31 December 2024 3,537 82,410 2,333 88,280
Net Book Value
As at 31 December 2024 713 62,951 1,837 65,501
As at 1 January 2024 891 83,934 2,296 87,121
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,918 68,171
Prepayments and accrued income 5,999 1,499
34,917 69,670
Due after more than one year
Other debtors (1) 1,088 2,327
36,005 71,997
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,626 732
Corporation tax (47 ) 22,747
Other taxes and social security 1,312 740
Loan from TRM Support Ltd (813 ) (813 )
Loan from TRM Properties Ltd 4,690 18,703
Credit Card 1,377 1,766
Accruals and deferred income 3,250 3,250
11,395 47,125
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
VAT 2,549 12,770
Directors loan account 108 2,991
2,657 15,761
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 74 74
Page 5