TMT Capital Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11251078 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

TMT CAPITAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

Mr D Fitter

Registered office:

417 Finchley Road

London

NW3 6HJ

Registered number:

11251078 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Fixed assets

Tangible assets

4

2,550

13,183

Investments

5

100

-

Investment property

6

750,792

425,000

753,442

438,183

Current assets

Stocks

-

90,000

Debtors

7

14,163

-

Cash at bank

13,799

11,296

27,962

101,296

Creditors

Amounts falling due within one year

8

4,366

6,650

Net current assets

23,596

94,646

Total assets less current liabilities

777,038

532,829

Creditors

Amounts falling due after more than one year

9

(648,835

)

(408,804

)

Provisions for liabilities

(22,273

)

(21,840

)

Net assets

105,930

102,185

Capital and reserves

Called up share capital

11

100

100

Other reserves

106,629

106,629

Retained earnings

(799

)

(4,544

)

Shareholders' funds

105,930

102,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 May 2020 and were signed by:

Mr D Fitter - Director

1.	Statutory information

TMT Capital 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 as modified by the revaluation of certain assets.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried

out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate

as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A review of deferred tax is carried out by

management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible,

there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating the market value of investment properties. A review of the value

of investment properties is carried out by management regularly. Whilst every attempt is made to ensure that

the value is as accurate as possible, there remains a risk that the value disclosed in the accounts does not match

the actual market value at the balance sheet date.

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.

Freehold property

-

1% on cost

Plant and machinery

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes

all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party

to the contractual provisions of the instrument.

Other creditors are classified as basic financial instruments and measured at initial recognition at transaction

price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate

method. A provision is established when there is objective evidence that the company will not be able to collect

all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 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.

3.	Employees and directors

The average number of employees during the year was 1 (2019 - 1 ) .

4.	Tangible fixed assets

Freehold

Plant and

property

machinery

Totals

£

£

£

Cost

At 1 April 2019

10,000

4,377

14,377

Additions

-

117

117

Disposals

(10,000

)

-

(10,000

)

At 31 March 2020

-

4,494

4,494

Depreciation

At 1 April 2019

100

1,094

1,194

Charge for year

-

850

850

Eliminated on disposal

(100

)

-

(100

)

At 31 March 2020

-

1,944

1,944

Net book value

At 31 March 2020

-

2,550

2,550

At 31 March 2019

9,900

3,283

13,183

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

Additions

100

At 31 March 2020

100

Net book value

At 31 March 2020

100

6.	Investment property

Total

£

Fair value

At 1 April 2019

425,000

Additions

325,792

At 31 March 2020

750,792

Net book value

At 31 March 2020

750,792

At 31 March 2019

425,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2019

128,469

Cost

622,323

750,792

7.

Debtors: amounts falling due within one year

2020

2019

£

£

Amounts owed by group undertakings

11,156

-

Other debtors

3,007

-

14,163

-

8.

Creditors: amounts falling due within one year

2020

2019

£

£

Taxation and social security

366

-

Other creditors

4,000

6,650

4,366

6,650

9.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Bank loans

321,938

-

Other creditors

326,897

408,804

648,835

408,804

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

321,938

-

Bank loans are secured by way of fixed and floating charge over the company's assets and undertaking.

10.	Secured debts

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

321,938

-

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100