REGISTERED NUMBER: 03894927 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

TMC Properties Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

A J Jackson

M D Reid

C Russell

SECRETARY:

A J Jackson

REGISTERED OFFICE:

2 Westcliffe Avenue

Baildon

Shipley

West Yorkshire

BD17 5AD

REGISTERED NUMBER:

03894927 (England and Wales)

ACCOUNTANTS:

Stirk Lambert & Co

Chartered Accountants

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

FIXED ASSETS

Tangible assets

4

495

602

Investment property

5

575,000

630,000

575,495

630,602

CURRENT ASSETS

Debtors

6

10,109

196

Cash at bank and in hand

50,005

82,525

60,114

82,721

CREDITORS

Amounts falling due within one year

7

89,999

121,757

NET CURRENT LIABILITIES

(29,885

)

(39,036

)

TOTAL ASSETS LESS CURRENT LIABILITIES

545,610

591,566

CREDITORS

Amounts falling due after more than one year

8

56,567

98,255

NET ASSETS

489,043

493,311

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

488,893

493,161

SHAREHOLDERS' FUNDS

489,043

493,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

A J Jackson - Director

1.	STATUTORY INFORMATION

TMC Properties Limited 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.

Turnover

Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets

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

Plant & machinery

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss and any subsequent reversal is recognised in the profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled. or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 year 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.

Operating leases

Property rents receivable are accounted for within the terms of each lease and are included within turnover.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant &

machinery

£

COST

At 1 January 2024

and 31 December 2024

4,250

DEPRECIATION

At 1 January 2024

3,648

Charge for year

107

At 31 December 2024

3,755

NET BOOK VALUE

At 31 December 2024

495

At 31 December 2023

602

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

630,000

Disposals

(55,000

)

At 31 December 2024

575,000

NET BOOK VALUE

At 31 December 2024

575,000

At 31 December 2023

630,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

9,682

-

Value added tax

-

121

Prepayments & accrued income

427

75

10,109

196

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans & overdrafts

1,785

2,888

Trade creditors

1,710

1,571

Tax

30

30

Value added tax

637

-

Other creditors

29,433

40,394

Bonds held

400

400

Directors' current accounts

45,979

65,978

Accrued expenses

10,025

10,496

89,999

121,757

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

1,992

2,917

Bank loans - 2-5 years

4,702

8,752

Bank loans - more than 5 years

49,873

86,586

56,567

98,255

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 years

49,873

86,586

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

58,352

101,143

The directors have given a joint and several guarantee limited to £175,000 in support of the bank borrowings.

10.	ULTIMATE CONTROLLING PARTY

The directors control the company by virtue of their shareholdings.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TMC Properties Limited for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of TMC Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TMC Properties Limited and state those matters that we have agreed to state to the Board of Directors of TMC Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TMC Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that TMC Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of TMC Properties Limited. You consider that TMC Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TMC Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stirk Lambert & Co

Chartered Accountants

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

19 September 2025