Registered number
12461556
TFCB LTD
Filleted Accounts
28 February 2023
TFCB LTD
Registered number: 12461556
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 980 -
Investments 4 264,392 264,392
265,372 264,392
Current assets
Debtors 5 14,500 -
Cash at bank and in hand 5,626 12,423
20,126 12,423
Creditors: amounts falling due within one year 6 (101,178) (113,787)
Net current liabilities (81,052) (101,364)
Total assets less current liabilities 184,320 163,028
Creditors: amounts falling due after more than one year 7 (153,007) (153,009)
Net assets 31,313 10,019
Capital and reserves
Called up share capital 1 1
Profit and loss account 31,312 10,018
Shareholder's funds 31,313 10,019
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr B P McDermott
Director
Approved by the board on 30 October 2023
TFCB LTD
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is that of rents receivable and consultancy fees.
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Office equipment 25% per annum reducing balance basis
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office equipment
£
Cost
Additions 1,307
At 28 February 2023 1,307
Depreciation
Charge for the year 327
At 28 February 2023 327
Net book value
At 28 February 2023 980
4 Investments
Other
investments
£
Cost
At 1 March 2022 264,392
At 28 February 2023 264,392
Historical cost
At 1 March 2022 264,392
At 28 February 2023 264,392
5 Debtors 2023 2022
£ £
Trade debtors and prepayments 14,500 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors and accruals 1,506 2,125
Corporation tax 5,523 758
Other creditors - director's loan account 94,149 110,904
101,178 113,787
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 153,007 153,009
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 153,007 153,009
Secured bank loans 153,007 153,009
Bank loans are secured on the fixed asset investment
9 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
10 Contingent liabilities
There were no contingent liabilities in existence at the year end.
11 Controlling party
The company is controlled by it's director and shareholder, Mr B P McDermott.
12 Other information
TFCB LTD is a private company limited by shares and incorporated in England. Its registered office is:
24 Oswald Road
Chorlton Cum Hardy
Manchester
M24 9LP
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