Tmg Office Services UK Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—5

1. General Information

Tmg Office Services UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13009682 . The registered office is 49 Greek Street , London, W1D 4EG.

Reporting period

The results for the period ended 30th December 2024 represent a 365 day period.

The results for the period ended 30th December 2023 actually represent a 365 day period from 1st January 2023 to 31st December 2023.

As such, the results of the current year and prior period are entirely comparable.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure

These financial statements show a net liability position at the balance sheet date.

The company is in the early stages of establishing itself in the UK market and as such is expected to be loss making for the foreseeable future.

The company has reviewed its funding requirements and with the continued support of its parent company the company will be able to meet its liabilities and obligations as they fall due.

The parent company has committed to providing ongoing support and as such, the loans due from the parent company are shown as a long term creditor.

Based on the above assurances, these financial statements are prepared on the going concern basis.

The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.

2.3. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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Tmg Office Services UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 December 2024

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Computer Equipment

33% Straight Line

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 profit or loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

2.5. 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.

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

...CONTINUED

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Tmg Office Services UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 December 2024

2.6. Financial Instruments - continued

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

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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2023: 13)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	600

As at 30 December 2024	600

Depreciation
As at 1 January 2024	600

As at 30 December 2024	600

Net Book Value
As at 30 December 2024	-

As at 1 January 2024	-

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	30,897	114,630
Other debtors	82,899	26,485

	113,796	141,115

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	182,894	538,341
Other creditors	48,860	18,417
Taxation and social security	7,016	14,565

	238,770	571,323

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to group undertakings	913,083	913,083

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Tmg Office Services UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 December 2024

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

9. Related Party Disclosures

Remuneration of key management personnel

As the directors and key management personnel are deemed to be the same individuals, the company has taken advantage of the exemptions in FRS102 Section 33.7A.

Other information

The company has taken advantage of the disclosure exemptions in FRS102 Section 33.1A not to disclose transactions entered into between members of a group as the subsidiary is wholly owned by its parent.

10. Controlling Parties

The parent undertaking of TMG Office Services UK Ltd is The Millennium Group of Delaware Inc, a company incorporate in the United States of America whose registered office is 106 Apple Street, Suite 27, Tinton Falls, New Jersey, United States, 07724.

The ultimate controlling party is Letty Josephine Murphy by virtue of her majority shareholding in the parent undertaking.

11. Audit Information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report on the accounts of Tmg Office Services UK Ltd for the period ended 30 December 2023 was unqualified.

Opinion

In our opinion the financial statements

• give a true and fair view of the state of the company’s affairs as at 30 December 2024 and of its loss for the period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

•have been prepared in accordance with the requirements of the Companies Act 2006.

The auditor's report was signed by Andrew Davis (Senior Statutory Auditor) for and on behalf of AMS Audit Limited , Statutory Auditor.

AMS Audit Limited

1 Hardman Street

Manchester

M3 3HF

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Debtors	5	113,796		141,115
Cash at bank and in hand		331,301		722,160

		445,097		863,275
Creditors: Amounts Falling Due Within One Year	6	(238,770 )		(571,323 )

NET CURRENT ASSETS (LIABILITIES)			206,327		291,952

TOTAL ASSETS LESS CURRENT LIABILITIES			206,327		291,952

Creditors: Amounts Falling Due After More Than One Year	7		(913,083 )		(913,083 )

NET LIABILITIES			(706,756 )		(621,131 )

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			(706,757 )		(621,132 )

SHAREHOLDERS' FUNDS			(706,756)		(621,131)