This paper investigates the stability analysis of time-delay systems through Lyapunov arguments. Using the existence of a complete Lyapunov-Krasovskii functional and relying on the polynomial approximation theory, our main goal is to approximate the complete Lyapunov functional and to take profit of the supergeometric convergence rate of the truncated error part. Necessary and sufficient conditions in the linear matrix inequality (LMI) framework for sufficiently large approximated orders are consequently proposed. Moreover, an estimation of the necessary order is provided analytically with respect to system parameters.