ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

TMA WORLD GROUP LIMITED - Company Information

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Caseware UK (AP4) 2018.0.196 2018.0.196 2020-03-312020-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2019-04-01 10062165 2019-04-01 2020-03-31 10062165 2018-04-01 2019-03-31 10062165 2020-03-31 10062165 2019-03-31 10062165 c:CompanySecretary1 2019-04-01 2020-03-31 10062165 c:Director1 2019-04-01 2020-03-31 10062165 c:RegisteredOffice 2019-04-01 2020-03-31 10062165 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2019-04-01 2020-03-31 10062165 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-03-31 10062165 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2019-03-31 10062165 d:CurrentFinancialInstruments 2020-03-31 10062165 d:CurrentFinancialInstruments 2019-03-31 10062165 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 10062165 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-31 10062165 d:ShareCapital 2020-03-31 10062165 d:ShareCapital 2019-03-31 10062165 d:RetainedEarningsAccumulatedLosses 2020-03-31 10062165 d:RetainedEarningsAccumulatedLosses 2019-03-31 10062165 c:FRS102 2019-04-01 2020-03-31 10062165 c:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 10062165 c:FullAccounts 2019-04-01 2020-03-31 10062165 c:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 10062165 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2019-04-01 2020-03-31 10062165 6 2019-04-01 2020-03-31 iso4217:GBP xbrli:pure
Company registration number: 10062165







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2020


TMA WORLD GROUP LIMITED






































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TMA WORLD GROUP LIMITED
 


 
COMPANY INFORMATION


Director
C.E.B. Crosby 




Company secretary
A.J.C. Van Der Linden



Registered number
10062165



Registered office
Austen House
Units A-J

Station View

Guildford

Surrey

GU1 3EL




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY




 


TMA WORLD GROUP LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 5

 


TMA WORLD GROUP LIMITED
REGISTERED NUMBER:10062165



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2020

2020
2019
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
3,743

Investments
 5 
385,503
385,503

  
385,503
389,246

Current assets
  

Debtors: amounts falling due within one year
 6 
-
5

Cash at bank and in hand
  
533
992

  
533
997

Creditors: amounts falling due within one year
 7 
(2,618)
(54,266)

Net current liabilities
  
 
 
(2,085)
 
 
(53,269)

Total assets less current liabilities
  
383,418
335,977

  

Net assets
  
383,418
335,977

Page 1
 


TMA WORLD GROUP LIMITED
REGISTERED NUMBER:10062165


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2020

2020
2019
Note
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
  
385,303
385,303

Profit and loss account
  
(1,885)
(49,326)

  
383,418
335,977


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



C.E.B. Crosby
Director

Date: 10 August 2020

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 


TMA WORLD GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1.


General information

TMA World Group Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

.The Coronavirus pandemic is creating significant uncertainty globally and the Company is not immune to this. The director is working to ensure the safety of the employees and maintaining the continuity of operations as far as he is able, whilst adhering to government advice. Whilst the pandemic will have a financial impact on the Company, at this stage, it is not possible to reliably forecast what this may be. However, the director has taken all relevant measures to ensure the Company is able to safeguard cash flow, jobs, customers and suppliers to put them in the best possible position to be able to pick up on opportunities as they arise once business starts to return to normal. Given the uncertainties that exist, this may cast significant doubt on the Company’s ability to continue as a going concern, however, the director believes that the actions he has taken should enable it to continue in operational existence for the forseeable future following approval of these accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
5
years

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including the director, during the year was 3 (2019 - 3).

Page 3
 


TMA WORLD GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

4.


Intangible assets




Development costs

£



Cost


At 1 April 2019
185,573



At 31 March 2020

185,573



Amortisation


At 1 April 2019
181,830


Charge for the year
3,743



At 31 March 2020

185,573



Net book value



At 31 March 2020
-



At 31 March 2019
3,743

Development expenses were capitalised because the director believed that the development of the online learning
products, with access via the internet, would generate income over a period of time. The expenditure is being written off over five years as stated in the accounting policies.

Page 4
 


TMA WORLD GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2019
385,503



At 31 March 2020
385,503





6.


Debtors

2020
2019
£
£


Other debtors
-
5

-
5



7.


Creditors: Amounts falling due within one year

2020
2019
£
£

Trade creditors
(22)
11

Amounts owed to group undertakings
-
52,755

Other taxation and social security
772
-

Accruals and deferred income
1,868
1,500

2,618
54,266


 
Page 5