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 2021

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

2,368

2,550

Investments

5

100

100

Investment property

6

425,771

750,792

428,239

753,442

Current assets

Debtors

7

704,513

14,163

Cash at bank

38,915

13,799

743,428

27,962

Creditors

Amounts falling due within one year

8

181,406

4,366

Net current assets

562,022

23,596

Total assets less current liabilities

990,261

777,038

Creditors

Amounts falling due after more than one year

9

(841,136

)

(648,835

)

Provisions for liabilities

(24,859

)

(22,273

)

Net assets

124,266

105,930

Capital and reserves

Called up share capital

11

100

100

Other reserves

104,060

106,629

Retained earnings

20,106

(799

)

Shareholders' funds

124,266

105,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 2 November 2021 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.

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.

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 (2020 - 1 ) .

4.	Tangible fixed assets

Plant and

machinery

£

Cost

At 1 April 2020

4,494

Additions

608

At 31 March 2021

5,102

Depreciation

At 1 April 2020

1,944

Charge for year

790

At 31 March 2021

2,734

Net book value

At 31 March 2021

2,368

At 31 March 2020

2,550

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 April 2020

and 31 March 2021

100

Net book value

At 31 March 2021

100

At 31 March 2020

100

6.	Investment property

Total

£

Fair value

At 1 April 2020

750,792

Additions

128,465

Disposals

(453,486

)

At 31 March 2021

425,771

Net book value

At 31 March 2021

425,771

At 31 March 2020

750,792

Fair value at 31 March 2021 is represented by:

£

Valuation in 2019

128,469

Cost

297,302

425,771

7.

Debtors: amounts falling due within one year

2021

2020

£

£

Amounts owed by group undertakings

704,513

11,156

Other debtors

-

3,007

704,513

14,163

8.

Creditors: amounts falling due within one year

2021

2020

£

£

Taxation and social security

5,656

366

Other creditors

175,750

4,000

181,406

4,366

9.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Bank loans

321,938

321,938

Other creditors

519,198

326,897

841,136

648,835

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

321,938

321,938

Bounce back loan

38,792

-

360,730

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:

2021

2020

£

£

Bank loans

321,938

321,938

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100