REGISTERED NUMBER: 03689873 (England and Wales)

Unaudited Financial Statements

for the Period

6 April 2024 to 31 December 2024

for

TVG SYSTEMS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Directors:

G M Frankland

K Aster

L B Gustavsson

V P E Karlsson

Secretary:

G M Frankland

Registered office:

1 Target Chartermark Way

Colburn Business Park

Colburn

North Yorkshire

DL9 4QJ

Registered number:

03689873 (England and Wales)

Fixed assets

Tangible assets

4

67,533

73,001

Current assets

Stocks

687,541

1,178,744

Debtors

1,256,612

424,686

Cash at bank

129,205

87,366

2,073,358

1,690,796

Creditors

Amounts falling due within one year

1,506,874

305,630

Net current assets

566,484

1,385,166

Total assets less current liabilities

634,017

1,458,167

Creditors

Amounts falling due after more than one year

-

1,368,407

Capital and reserves

Called up share capital

100

100

Retained earnings

633,917

89,660

Shareholders' funds

634,017

89,760

634,017

1,458,167

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

G M Frankland - Director

1.	STATUTORY INFORMATION

TVG Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The company traded for a shorter period in the current year due to a change in accounting period. Therefore the comparative amounts in the financial statements (including related notes) are not entirely comparable.

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.

The financial statements have been prepared under the going concern basis of accounting.

Turnover

Turnover represents the value of work carried out and goods sold during the year, including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

Tangible fixed assets

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

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2024 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 6 April 2024

245,686

Additions

16,942

At 31 December 2024

262,628

DEPRECIATION

At 6 April 2024

172,685

Charge for period

22,410

At 31 December 2024

195,095

NET BOOK VALUE

At 31 December 2024

67,533

At 5 April 2024

73,001

5.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

5/4/24

£

£

Bank loans

-

72,329

Bank loans are secured by way of a fixed and floating charge.

6.	CONTINGENT LIABILITIES

Leumi Abl Limited

At the balance sheet date, a cross corporate guarantee and indemnity deed to Leumi Abl Limited dated 21 September 2018 existed with The Vehicle Group Limited, TVG Systems Limited, TVG Telematics Ltd, TVG Vision Ltd and Traffilive Ltd.

At the balance sheet date the amount owed to Leumi Abl Limited by the above companies was £Nil (5 April 2024: £1,156,225).

7.	ULTIMATE PARENT COMPANY

At the balance sheet date the ultimate parent company was Pomona-Gruppen AB, a company incorporated in Sweden with company number 556279-4973. The parent of the smallest group for which consolidated financial statements are prepared is The Vehicle Group Limited. Consolidated accounts of The Vehicle Group Limited are available from its registered office of 1 Target Chartermark Way, Colburn Business Park, Colburn, North Yorkshire, DL9 4QJ.