TPFL Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 09770884 (England and Wales)
TPFL Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
TPFL Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
168,908
168,908
Current assets
Debtors
5
650
650
Creditors: amounts falling due within one year
6
(2,500)
(2,500)
Net current liabilities
(1,850)
(1,850)
Total assets less current liabilities
167,058
167,058
Capital and reserves
Called up share capital
7
90
90
Profit and loss reserves
166,968
166,968
Total equity
167,058
167,058
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 August 2024
T Rodgers
Director
Company Registration No. 09770884
TPFL Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information
TPFL Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit D402, 118 Commercial Street, London, E1 6NF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
TPFL Limited (the parent), and the group it heads, qualify as small as set out in section 383 of the Act and the group is not ineligible as set out in section 384 of the Act.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Financial instruments
The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
TPFL Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 3
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
Fixed asset investments
2023
2022
£
£
Investments
168,908
168,908
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2023 & 31 December 2023
168,908
Carrying amount
At 31 December 2023
168,908
At 1 January 2023
168,908
TPFL Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
4
Subsidiaries
These financial statements are separate company financial statements for TPFL Limited.
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Rehabstudio Incorporated
USA
Ordinary
-
100.00
Rehabstudio Limited
Northern Ireland
Ordinary
-
100.00
This Is Wonderland Limited
England and Wales
Ordinary
100.00
-
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
650
650
6
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
2,500
2,500
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
90 Ordinary shares of £1 each
90
90
8
Related party transactions
The company has chosen to take the FRS 102 exemption as per Section 33 Related Party Disclosures paragraph 33.7. All related party transactions in the period were in relation to 100% related Group companies.
During the year dividends totalling £93,705 (2022: £100,912) were paid to the director of the company.
9
Control
The company is controlled by T Rogers, director, by virtue of his 100% shareholding.