REGISTERED NUMBER: 13173324 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

TMG Electrics Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

T Grimes

N Grimes

REGISTERED OFFICE:

33 Kingsley Court

Welwyn Garden City

Hertfordshire

AL7 4HZ

REGISTERED NUMBER:

13173324 (England and Wales)

ACCOUNTANTS:

Sheridan Clarke Limited

2nd Floor Congress House

14 Lyon Road

Harrow

Middlesex

HA1 2EN

FIXED ASSETS

Tangible assets

4

6,352

8,469

CURRENT ASSETS

Debtors

5

10,518

8,095

Cash at bank

2,836

5,188

13,354

13,283

CREDITORS

Amounts falling due within one year

6

16,425

15,014

NET CURRENT LIABILITIES

(3,071

)

(1,731

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,281

6,738

CREDITORS

Amounts falling due after more than one year

7

3,246

6,492

NET ASSETS

35

246

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

33

244

35

246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by:

T Grimes - Director

1.	STATUTORY INFORMATION

TMG Electrics Ltd 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 (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction cost. Financial assets classified as receivable within one year are not amortised.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 29 February 2024

and 28 February 2025

20,075

DEPRECIATION

At 29 February 2024

11,606

Charge for year

2,117

At 28 February 2025

13,723

NET BOOK VALUE

At 28 February 2025

6,352

At 28 February 2024

8,469

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 29 February 2024

and 28 February 2025

18,580

DEPRECIATION

At 29 February 2024

10,742

Charge for year

1,959

At 28 February 2025

12,701

NET BOOK VALUE

At 28 February 2025

5,879

At 28 February 2024

7,838

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

28.2.24

£

£

Trade debtors

9,400

7,808

Other debtors

1,118

287

10,518

8,095

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

28.2.24

£

£

Hire purchase contracts

3,246

3,246

Taxation and social security

9,578

9,818

Other creditors

3,601

1,950

16,425

15,014

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

28.2.24

£

£

Hire purchase contracts

3,246

6,492

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

28.2.24

£

£

Hire purchase contracts

6,492

9,738

Amounts owed under hire purchase contracts are secured on the assets that they finance.

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 Balance Sheet. 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28 February 2025 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Sheridan Clarke Limited

2nd Floor Congress House

14 Lyon Road

Harrow

Middlesex

HA1 2EN

16 October 2025