Company registration number 01803258 (England and Wales)
TMWARE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TMWARE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
TMWARE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
835,602
851,083
Tangible assets
5
70,219
78,030
905,821
929,113
Current assets
Debtors
6
104,141
158,317
Cash at bank and in hand
168,422
248,701
272,563
407,018
Creditors: amounts falling due within one year
7
(112,460)
(201,553)
Net current assets
160,103
205,465
Total assets less current liabilities
1,065,924
1,134,578
Creditors: amounts falling due after more than one year
8
(25,132)
(32,111)
Provisions for liabilities
(47,526)
(53,203)
Net assets
993,266
1,049,264
Capital and reserves
Called up share capital
9
7,900
7,900
Share premium account
10
107,261
107,261
Capital redemption reserve
10
656
656
Profit and loss reserves
10
877,449
933,447
Total equity
993,266
1,049,264
TMWARE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

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

T he 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 28 May 2025 and are signed on its behalf by:
L A Phillips
Director
Company registration number 01803258 (England and Wales)
TMWARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

TmWare Ltd is a private company, limited by shares, incorporated in England and Wales. The registered office is 1 Pebble Close Business Village, Amington, Tamworth, B77 4RD. The company registration number is 01803258.

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 a mounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer, usually on delivery;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measure reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion, or where partial performance of its obligations has occurred, of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measure reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measure reliably;

- the costs incurred and the costs to complete the contract can be measure reliably.

TMWARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Development costs
20% straight line
1.4
Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Fixtures and fittings
15% & 20%
Motor vehicles
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

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 the profit and loss account.

1.5
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

1.6
Financial instruments
Basic financial assets

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

TMWARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Current liabilities are measured at the amount expected to be paid, based on tax rates and laws that are enacted or substantially enacted at the balance sheet date

Deferred tax

Deferred tax is accounted for using the balance sheet liability method and is calculated using rates of taxation enacted or substantially enacted at the balance sheet date which are expected to apply when the asset or liability is settled.

Deferred tax liabilities are generally recognised for all taxable temporary difference. Deferred tax assets are only recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised.

1.8
Retirement benefits

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds

1.9
Leases

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

1.10

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. The capitalised costs are subsequently amortised on a straight line basis over their useful economic lives, which the directors have assessed to be five years, with no amortisation in the year of addition.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase.

TMWARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Software development

The directors make judgements concerning the amount of development expenditure to be capitalised and the period over which this expenditure is amortised through the profit and loss account, as described in note 1.1 0.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
11
4
Intangible fixed assets
Develop-ment costs
£
Cost
At 1 January 2024
7,204,251
Additions
268,789
At 31 December 2024
7,473,040
Amortisation
At 1 January 2024
6,353,168
Amortisation charged for the year
284,270
At 31 December 2024
6,637,438
Carrying amount
At 31 December 2024
835,602
At 31 December 2023
851,083
TMWARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
5
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
463,841
12,750
476,591
Additions
7,266
-
0
7,266
Disposals
(375)
-
0
(375)
At 31 December 2024
470,732
12,750
483,482
Depreciation
At 1 January 2024
395,639
2,922
398,561
Depreciation charged in the year
12,345
2,457
14,802
Eliminated in respect of disposals
(100)
-
0
(100)
At 31 December 2024
407,884
5,379
413,263
Carrying amount
At 31 December 2024
62,848
7,371
70,219
At 31 December 2023
68,202
9,828
78,030
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
79,984
113,117
Corporation tax recoverable
13,296
19,511
Other debtors
10,861
25,689
104,141
158,317
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,803
26,585
Taxation and social security
37,439
44,847
Other creditors
71,218
130,121
112,460
201,553

Secured creditors

Loans of £9,178 (2023: £11,679) included within other creditors are secured by a fixed and floating charge over the assets of the company.

TMWARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
25,132
32,111

Secured creditors

Loans of £25,132 (2023: £32,111) included within other creditors are secured by a fixed and floating charge over the assets of the company.

9
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
7,900 Ordinary shares of £1 each
7,900
7,900
10
Reserves
Share premium

This reserve records the amount above the nominal value received for shares issued.

Capital redemption reserve

This reserve records the amount which are transferred following the purchase of the company's own shares.

Profit and loss reserves

This reserve records all current and prior period retained profits and losses.

11
Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administrated fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,688 (2023: £6,143). Contributions totalling of £nil (2023- £nil) payable to the fund at the balance sheet date.

12
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
30,000
23,959
TMWARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
13
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

T raderman Systems Limited Retirement Benefits Scheme, of which directors are trustees and members, made a rent charge to the company in the amount of £28,911 (20 23 - £28,750). In addition, the company made repayments on a loan from Traderman Systems Limited Retirements Benefit Scheme. An amount of £34,310 (20 23 - £43,791) was outstanding at the balance sheet date, and interest is charged at 5%.

2024-12-31 2024-01-01 false false false 04 June 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity J Coughlin K J Coughlin L A Phillips S Coughlin 01803258 2024-01-01 2024-12-31 01803258 2024-12-31 01803258 2023-12-31 01803258 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 01803258 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 01803258 core:FurnitureFittings 2024-12-31 01803258 core:MotorVehicles 2024-12-31 01803258 core:FurnitureFittings 2023-12-31 01803258 core:MotorVehicles 2023-12-31 01803258 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 01803258 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01803258 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 01803258 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 01803258 core:CurrentFinancialInstruments 2024-12-31 01803258 core:CurrentFinancialInstruments 2023-12-31 01803258 core:ShareCapital 2024-12-31 01803258 core:ShareCapital 2023-12-31 01803258 core:SharePremium 2024-12-31 01803258 core:SharePremium 2023-12-31 01803258 core:CapitalRedemptionReserve 2024-12-31 01803258 core:CapitalRedemptionReserve 2023-12-31 01803258 core:RetainedEarningsAccumulatedLosses 2024-12-31 01803258 core:RetainedEarningsAccumulatedLosses 2023-12-31 01803258 core:ShareCapitalOrdinaryShareClass1 2024-12-31 01803258 core:ShareCapitalOrdinaryShareClass1 2023-12-31 01803258 bus:Director3 2024-01-01 2024-12-31 01803258 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 01803258 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 01803258 core:FurnitureFittings 2024-01-01 2024-12-31 01803258 core:MotorVehicles 2024-01-01 2024-12-31 01803258 2023-01-01 2023-12-31 01803258 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 01803258 core:FurnitureFittings 2023-12-31 01803258 core:MotorVehicles 2023-12-31 01803258 2023-12-31 01803258 core:WithinOneYear 2024-12-31 01803258 core:WithinOneYear 2023-12-31 01803258 core:Non-currentFinancialInstruments 2024-12-31 01803258 core:Non-currentFinancialInstruments 2023-12-31 01803258 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 01803258 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01803258 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01803258 bus:FRS102 2024-01-01 2024-12-31 01803258 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 01803258 bus:Director1 2024-01-01 2024-12-31 01803258 bus:Director2 2024-01-01 2024-12-31 01803258 bus:Director4 2024-01-01 2024-12-31 01803258 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP