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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019 |
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TMA ALLIANCE LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019 |
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FOR |
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TMA ALLIANCE LIMITED |
TMA ALLIANCE LIMITED (REGISTERED NUMBER: 08132913) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 JULY 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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TMA ALLIANCE LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 JULY 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
and Statutory Auditor |
61 Queen Square |
Bristol |
BS1 4JZ |
TMA ALLIANCE LIMITED (REGISTERED NUMBER: 08132913) |
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BALANCE SHEET |
31 JULY 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Investments | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
TMA ALLIANCE LIMITED (REGISTERED NUMBER: 08132913) |
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BALANCE SHEET - continued |
31 JULY 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
and were signed by: |
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TMA ALLIANCE LIMITED (REGISTERED NUMBER: 08132913) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 JULY 2019 |
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1. | STATUTORY INFORMATION |
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TMA Alliance Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents commission on sales earned from clients during the year, net of any |
discounts given. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
TMA ALLIANCE LIMITED (REGISTERED NUMBER: 08132913) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 JULY 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Financial instruments |
Financial assets and liabilities are recognised in the balance sheet when the company |
becomes party to the contractual provisions of the instrument. |
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Trade and other debtors and creditors are classified as basic financial instruments and are |
measured on 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 may not be able to collect all |
amounts due. |
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Cash and cash equivalents are classified as basic financial instruments and comprise cash |
in hand and at bank. |
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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 any direct issue costs. |
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Listed current asset investments |
Listed current asset investments are initially recognised at cost, and are subsequently |
carried at fair value. Gains or losses in fair value are recognised through profit and loss. |
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Going concern |
The company has been profitable for each of the last two years ended 31 July 2019 and has |
remained profitable in the period up to the signing of these financial statements. |
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The director has assessed the next twelve months as best he can given the current situation |
with COVID-19. The director fully expects, that with the promised backing of the British |
Government to back British businesses, the company will remain a going concern and he will |
endeavour to ensure that the company has sufficient working capital to meet its |
requirements for the foreseeable future. |
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In light of the above, the director has reviewed the going concern status of the business and |
has concluded that he has a reasonable expectation that the company has adequate |
resources to continue in operational existence for the foreseeable future. He therefore |
continues to adopt the going concern basis of accounting in preparing these financial |
statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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TMA ALLIANCE LIMITED (REGISTERED NUMBER: 08132913) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 JULY 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 August 2018 |
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Additions |
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At 31 July 2019 |
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DEPRECIATION |
At 1 August 2018 |
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Charge for year |
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At 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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6. | CURRENT ASSET INVESTMENTS |
2019 | 2018 |
£ | £ |
Listed investments | - | 7,579 |
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The company sold their investments in a Hargreaves Lansdown Vantage Fund and Share |
Account during the year for a total of £6,900 which was the market value of the investment |
on the date it was sold. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Corporation tax |
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Director's current account | 358 | 3,657 |
Accruals and deferred income |
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TMA ALLIANCE LIMITED (REGISTERED NUMBER: 08132913) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 JULY 2019 |
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8. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
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Balance at 1 August 2018 |
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Provided during year | ( |
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Balance at 31 July 2019 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1.00 | 1 | 1 |
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10. | RELATED PARTY DISCLOSURES |
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At 31 July 2019 the company owed T M Ackrill , the director , a total of £358 (2018 - £3,657). |
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The company is controlled by the director by virtue of his 100% ownership of the equity |
share capital of the company. |