TM Care Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06119333 (England and Wales)

Financial Statements for the Year Ended 30 June 2021

for

TM Care Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T L Shah

Mr M P Shah

SECRETARY:

Mr M P Shah

REGISTERED OFFICE:

Centrum House Headley Road

Woodley

Reading

RG5 4JB

REGISTERED NUMBER:

06119333 (England and Wales)

AUDITORS:

Copia Wealth & Tax Limited

Chartered Accountants

Statutory Auditors

8 Pendeford Place

Pendeford Business Park

Wobaston Road

Wolverhampton

WV9 5HD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

23,708

18,426

23,708

18,426

CURRENT ASSETS

Stocks

17,739

9,333

Debtors

6

456,409

527,688

Cash at bank

352,247

300,377

826,395

837,398

CREDITORS

Amounts falling due within one year

7

339,475

359,298

NET CURRENT ASSETS

486,920

478,100

TOTAL ASSETS LESS CURRENT LIABILITIES

510,628

496,526

CREDITORS

Amounts falling due after more than one year

8

(226,792

)

(340,267

)

PROVISIONS FOR LIABILITIES

(4,800

)

(4,800

)

NET ASSETS

279,036

151,459

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

278,936

151,359

SHAREHOLDERS' FUNDS

279,036

151,459

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 31 March 2022 and were signed on its behalf by:

Mr M P Shah - Director

Mr T L Shah - Director

1.	STATUTORY INFORMATION

TM Care Limited 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 (£).

All monetary amounts are rounded to the nearest pound.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and estimates

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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 102 (2020 - 92 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

30,786

AMORTISATION

At 1 July 2020

and 30 June 2021

30,786

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

68,410

Additions

14,765

At 30 June 2021

83,175

DEPRECIATION

At 1 July 2020

49,984

Charge for year

9,483

At 30 June 2021

59,467

NET BOOK VALUE

At 30 June 2021

23,708

At 30 June 2020

18,426

6.

DEBTORS

30.6.21

30.6.20

£

£

Amounts falling due within one year:

Trade debtors

57,239

135,654

Amounts owed by group undertakings

279,490

257,166

Other debtors

113,680

31,809

450,409

424,629

30.6.21

30.6.20

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

6,000

103,059

Aggregate amounts

456,409

527,688

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

63,691

47,230

Trade creditors

34,703

24,043

Amounts owed to group undertakings

68,550

56,064

Taxation and social security

58,782

78,943

Other creditors

113,749

153,018

339,475

359,298

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

166,641

235,974

Other creditors

60,151

104,293

226,792

340,267

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.21

30.6.20

£

£

Within one year

20,850

37,933

Between one and five years

4,082

24,932

24,932

62,865

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.21

30.6.20

£

£

Bank overdraft

-

34,239

Bank loans

230,332

248,965

230,332

283,204

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

100

Ordinary

1

100

100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Shaun Philpott (Senior Statutory Auditor)

for and on behalf of Copia Wealth & Tax Limited

13.	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.

Income and receivables from entities under common control

2021

2020

£

£

Loans receivable from entities under common control

21,505

217,800

The above mentioned loans have been extended on an interest free basis, with no fixed repayment terms.

Expenditure with and payables to entities under common control

2021

2020

£

£

Amounts payable to entities under common control

9,415

5,339

14.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Centrum Group Corporation Limited, incorporated in England and Wales whose registered office of the above named companies is the same as TM Care Limited.

The consolidated financial statements of Centrum Group Corporation Limited are available from Companies House.