TM Assets Limited - Accounts to registrar (filleted) - small 18.2
TM Assets Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| TM Assets Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2019 |
| TM Assets Limited (Registered number: 10769330) |
| Contents of the Financial Statements |
| for the year ended 31 March 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| TM Assets Limited |
| Company Information |
| for the year ended 31 March 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 28 Eaton Avenue |
| Matrix Office Park |
| Buckshaw Village |
| Chorley |
| Lancashire |
| PR7 7NA |
| TM Assets Limited (Registered number: 10769330) |
| Balance Sheet |
| 31 March 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| 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. |
| 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 |
| TM Assets Limited (Registered number: 10769330) |
| Notes to the Financial Statements |
| for the year ended 31 March 2019 |
| 1. | STATUTORY INFORMATION |
| TM Assets Limited is a |
| 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 amounts in the financial statements have been rounded to the nearest £1. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about TM Assets Limited as an individual company and |
| do not contain consolidated financial information as the parent of a group. The company is exempt |
| under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated |
| financial statements. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| Financial instruments are recognised when the company becomes party to the contractual provisions |
| of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are |
| initially measured at transaction price and are subsequently carried at cost unless the arrangement |
| indicates otherwise and then the asset is measured at the present value of the future receipts |
| discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, |
| bank loans and group borrowings, are initially recognised at transaction price and are subsequently |
| carried at cost unless the arrangement indicates otherwise and then the liability is measured at the |
| present value of the future obligations discounted at a market rate of interest. |
| Taxation |
| Taxation for the year 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 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. |
| TM Assets Limited (Registered number: 10769330) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2019 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2018 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2018 |
| and 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Called up share capital not paid |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Owed to related parties | 426,194 | 423,961 |
| 7. | SECURED DEBTS |
| There are both fixed and floating charges dated 16 October 2019 secured on the assets of the |
| company. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
Number |
Class |
Nominal Value |
£ |
| 20,001 | A Ordinary | £1 | 20,001 |
| 1 | B Ordinary | £1 | 1 |
| 365,000 | B Preference | £1 | 365,000 |
| 385,002 |
| During the year 20,000 £1 A Preference shares were converted to £1 A Ordinary shares. |
| 9. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 |
| 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
| party transactions with wholly owned subsidiaries within the group. |
| TM Assets Limited (Registered number: 10769330) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2019 |
| 10. | ULTIMATE CONTROLLING PARTY |
| In the opinion of the directors the company is ultimately controlled by Mrs TA Appleby-Mollart who |
| owned the majority of the issued share capital of the parent company TAM Assets Limited. |
| On 21 May 2018 a share for share exchange took place, which saw Perch Group Limited, a company |
| registered in England & Wales, becoming 100% shareholder of TAM Assets Limited, which then |
| became the company's ultimate parent company from that date. Mrs TA Appleby-Mollart is the |
| majority shareholder of Perch Group Limited. |