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REGISTERED NUMBER: SC651755 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

TGC Aberdeen North Limited

TGC Aberdeen North Limited (Registered number: SC651755)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TGC Aberdeen North Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Mr I Krumins





REGISTERED OFFICE: Norsea House
Crawpeel Road
Altens
Aberdeen
AB12 3LG





REGISTERED NUMBER: SC651755 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

TGC Aberdeen North Limited (Registered number: SC651755)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,725 25,621

CURRENT ASSETS
Debtors 5 254,614 188,579
Cash at bank 12,761 14,217
267,375 202,796
CREDITORS
Amounts falling due within one year 6 264,909 181,941
NET CURRENT ASSETS 2,466 20,855
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,191

46,476

CREDITORS
Amounts falling due after more than one
year

7

(24,671

)

(39,697

)

PROVISIONS FOR LIABILITIES (3,434 ) (4,332 )
NET (LIABILITIES)/ASSETS (4,914 ) 2,447

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings (5,014 ) 2,446
(4,914 ) 2,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

TGC Aberdeen North Limited (Registered number: SC651755)

Balance Sheet - continued
31 January 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:





Mr I Krumins - Director


TGC Aberdeen North Limited (Registered number: SC651755)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

TGC Aberdeen North Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

At 31 January 2023 the company's liabilities exceeded it's total assets. The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is based upon the continued support of the director and shareholders.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

TGC Aberdeen North Limited (Registered number: SC651755)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 59 (2022 - 41 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 8,533 900 24,895 1,364 35,692
Additions 2,515 - - 1,113 3,628
Disposals (1,944 ) - - - (1,944 )
At 31 January 2023 9,104 900 24,895 2,477 37,376
DEPRECIATION
At 1 February 2022 2,788 279 6,224 780 10,071
Charge for year 1,781 124 4,668 813 7,386
Eliminated on disposal (806 ) - - - (806 )
At 31 January 2023 3,763 403 10,892 1,593 16,651
NET BOOK VALUE
At 31 January 2023 5,341 497 14,003 884 20,725
At 31 January 2022 5,745 621 18,671 584 25,621

TGC Aberdeen North Limited (Registered number: SC651755)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022
and 31 January 2023 21,895
DEPRECIATION
At 1 February 2022 5,474
Charge for year 4,105
At 31 January 2023 9,579
NET BOOK VALUE
At 31 January 2023 12,316
At 31 January 2022 16,421

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 200,155 182,345
Other debtors 54,459 6,234
254,614 188,579

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 5,000 5,000
Hire purchase contracts 4,893 4,893
Trade creditors 52,515 25,798
Taxation and social security 133,990 91,957
Other creditors 68,511 54,293
264,909 181,941

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 12,083 17,083
Hire purchase contracts 4,288 9,181
Other creditors 8,300 13,433
24,671 39,697

TGC Aberdeen North Limited (Registered number: SC651755)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Other loans 13,433 18,268

Other loans are secured by a floating charge covering all the property or undertakings of the company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
Mr I Krumins
Balance outstanding at start of year (4 ) 6,290
Amounts advanced 38,577 701
Amounts repaid (72 ) (6,995 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,501 (4 )

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the director and his partner Ms Z Krastina who between them own 100% of the issued share capital.