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Registered number: 03858625
T L B International Limited
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 October 2023
Lichfield & Co.
Chartered Accountants
91 Sunnyhill Road
Streatham
London
SW16 2UG
Director's Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Director's Report 2
Accountant's Report 3
Profit and Loss Account 4
Statement of Comprehensive Income 5
Balance Sheet 6—7
Notes to the Financial Statements 8—10
Page 1
Company Information
Director Mr J P Brunas
Company Number 03858625
Registered Office Flat 80 Wrest House
27 Inglis Way
London
NW7 1TP
Accountants Lichfield & Co.
Chartered Accountants
91 Sunnyhill Road
Streatham
London
SW16 2UG
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 31 October 2023.
Directors
The director who held office during the year were as follows:
Mr J P Brunas
Statement of Director's Responsibilities
The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr J P Brunas
Director
21/03/2024
Page 2
Page 3
Accountant's Report
In accordance with the engagement, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at 31/10/2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
21/03/2024
Lichfield & Co.
Chartered Accountants
91 Sunnyhill Road
Streatham
London
SW16 2UG
Page 3
Page 4
Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 379,033 400,903
GROSS PROFIT 379,033 400,903
Administrative expenses (148,889 ) (101,571 )
OPERATING PROFIT 230,144 299,332
Income from participating interests 78,924 41,331
Income from other current asset investments (11,873 ) 98
Other interest receivable and similar income 17,449 6,633
Interest payable and similar charges (39,079 ) (55,625 )
PROFIT BEFORE TAXATION 275,565 291,769
Tax on Profit (47,856 ) (44,414 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 227,709 247,355
The notes on pages 8 to 10 form part of these financial statements.
Page 4
Page 5
Statement of Comprehensive Income
2023 2022
£ £
PROFIT FOR THE FINANCIAL YEAR 227,709 247,355
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 227,709 247,355
Page 5
Page 6
Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,592 63,425
Investment Properties 5 10,235,547 10,235,547
Investments 6 587,524 587,524
10,870,663 10,886,496
CURRENT ASSETS
Debtors 7 7,445 26,911
Cash at bank and in hand 443,298 247,899
450,743 274,810
Creditors: Amounts Falling Due Within One Year 8 (3,923,165 ) (3,973,774 )
NET CURRENT ASSETS (LIABILITIES) (3,472,422 ) (3,698,964 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,398,241 7,187,532
Creditors: Amounts Falling Due After More Than One Year 9 (1,200,000 ) (1,200,000 )
NET ASSETS 6,198,241 5,987,532
CAPITAL AND RESERVES
Called up share capital 10 1,400 1,400
Share premium account 650,000 650,000
Revaluation reserve 11 1,489,611 1,489,611
Profit and Loss Account 4,057,230 3,846,521
SHAREHOLDERS' FUNDS 6,198,241 5,987,532
Page 6
Page 7
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr J P Brunas
Director
21/03/2024
The notes on pages 8 to 10 form part of these financial statements.
Page 7
Page 8
Notes to the Financial Statements
1. General Information
T L B International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03858625 . The registered office is Flat 80 Wrest House, 27 Inglis Way, London, NW7 1TP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% p.a. on a reducing balance basis
Motor Vehicles 25% p.a. on a reducing balance basis
Fixtures & Fittings 25% p.a. on a reducing balance basis
2.4. Investment Properties
Investment properties should not be subject to periodic charges for depreciation on the basis set out in SSAP 12, except for properties held on lease which should be depreciated on the basis set out in SSAP 12 at least over the period when the unexpired term is 20 years or less.
Investment properties should be included in the balance sheet at their open market value.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
Page 8
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 337,675 37,790 11,367 386,832
Additions 32 - - 32
As at 31 October 2023 337,707 37,790 11,367 386,864
Depreciation
As at 1 November 2022 303,198 9,448 10,761 323,407
Provided during the period 8,627 7,086 152 15,865
As at 31 October 2023 311,825 16,534 10,913 339,272
Net Book Value
As at 31 October 2023 25,882 21,256 454 47,592
As at 1 November 2022 34,477 28,342 606 63,425
5. Investment Property
2023
£
Fair Value
As at 1 November 2022 and 31 October 2023 10,235,547
6. Investments
Unlisted
£
Cost
As at 1 November 2022 587,524
As at 31 October 2023 587,524
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 587,524
As at 1 November 2022 587,524
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 5,130 7,416
Other debtors 111 19,495
VAT 2,204 -
7,445 26,911
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 255 403
Corporation tax 47,857 44,395
Other taxes and social security 89 72
VAT - 86
Other creditors 375,173 356,678
Accruals and deferred income 2,074 2,074
Director's loan account 3,497,717 3,570,066
3,923,165 3,973,774
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,200,000 1,200,000
1,200,000 1,200,000
On 01/01/2022, TLB International Ltd refinance it's bank Loan and repaid the original loan with a new loan of £1,200,000. The Loan is a 25 years term and 5yr fixed interest rate of 3.2% until 20th April 2027. A capital repayment of £1,200,000 is due on 31 Dec 2047.

The loan contains a fixed charge on Queens Grove Studio plus a Personal Guarantee.
11. Reserves
Revaluation Reserve
£
As at 1 November 2022 1,489,611
As at 31 October 2023 1,489,611
Page 10