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REGISTERED NUMBER: 10921842 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

TCP Pharma Limited

TCP Pharma Limited (Registered number: 10921842)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TCP Pharma Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr N Chahal
Mr D Chahal





REGISTERED OFFICE: Office 1
21 Hatherton Street
Walsall
WS4 2LA





REGISTERED NUMBER: 10921842 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

TCP Pharma Limited (Registered number: 10921842)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 202,643 -
Investments 6 3,517,719 2,204,570
3,720,362 2,204,570

CURRENT ASSETS
Stocks 322,334 -
Debtors 7 1,044,091 70,991
Cash at bank and in hand 66,597 84
1,433,022 71,075
CREDITORS
Amounts falling due within one year 8 (3,110,447 ) (931,952 )
NET CURRENT LIABILITIES (1,677,425 ) (860,877 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,042,937

1,343,693

CREDITORS
Amounts falling due after more than
one year

9

(858,481

)

(959,143

)

PROVISIONS FOR LIABILITIES (15,931 ) -
NET ASSETS 1,168,525 384,550

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,168,425 384,450
SHAREHOLDERS' FUNDS 1,168,525 384,550

TCP Pharma Limited (Registered number: 10921842)

Balance Sheet - continued
30 April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





Mr N Chahal - Director


TCP Pharma Limited (Registered number: 10921842)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

TCP Pharma Limited is a private company, limited by shares , registered in England and Wales. 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.

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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

TCP Pharma Limited (Registered number: 10921842)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 240,000
At 30 April 2023 240,000
AMORTISATION
Charge for year 240,000
At 30 April 2023 240,000
NET BOOK VALUE
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
Additions 13,334 226,075 155,968
At 30 April 2023 13,334 226,075 155,968
DEPRECIATION
Charge for year 4,482 76,200 119,362
At 30 April 2023 4,482 76,200 119,362
NET BOOK VALUE
At 30 April 2023 8,852 149,875 36,606

TCP Pharma Limited (Registered number: 10921842)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 12,800 2,295 410,472
At 30 April 2023 12,800 2,295 410,472
DEPRECIATION
Charge for year 7,484 301 207,829
At 30 April 2023 7,484 301 207,829
NET BOOK VALUE
At 30 April 2023 5,316 1,994 202,643

6. FIXED ASSET INVESTMENTS
Unlisted
investment
£   
COST
At 1 May 2022 2,204,570
Additions 1,323,149
Disposals (10,000 )
At 30 April 2023 3,517,719
NET BOOK VALUE
At 30 April 2023 3,517,719
At 30 April 2022 2,204,570

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 246,793 -
Other debtors 797,298 70,991
1,044,091 70,991

TCP Pharma Limited (Registered number: 10921842)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 132,725 130,925
Trade creditors 685,825 -
Amounts owed to group undertakings - 214,196
Taxation and social security 98,834 -
Other creditors 2,193,063 586,831
3,110,447 931,952

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans 858,481 959,143

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
100 Ordinary shares £1 100 100

11. RELATED PARTY DISCLOSURES

As of 30 April 2023, the company was owed £102,775 by TCP Properties Limited ('Prop'). Mr Navdeep and Mr Dalwinder Chahal are both directors of Prop.Interest is charged at 3%. The loan is repayable on demand.

As of 30 April 2023, the company was owed £220,361 (2022 - Owed by £21,550) to Carters Green Clinic & Business Centre Ltd, in which Mr Navdeep and Mr Dalwinder Chahal are both directors.

As of 30 April 2023, the company was owed £60,100 (2022: Nil) by Carters Green WB Properties Ltd. Mr Navdeep and Mr Dalwinder Chahal are both directors.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Mr Navdeep and Mr Dalwinder Chahal by virtue of their ownership of 100% of the issued share capital in the company.