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REGISTERED NUMBER: 12903505 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TPBI UK ASSETS LIMITED

TPBI UK ASSETS LIMITED (REGISTERED NUMBER: 12903505)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TPBI UK ASSETS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: S Borrisuttanakul
K Borrisuttanakul
S Borrisuttanakul
S Borrisuttanakul
Ms S Borrisuttanakul
Mrs S Borrisuttanakul
S C Edwards
Miss C Uerpairojkit
Ms W Poolpol





REGISTERED OFFICE: Unit 1
Rosevale Business Park
Newcastle Under Lyme
ST5 7UB





REGISTERED NUMBER: 12903505 (England and Wales)





AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

TPBI UK ASSETS LIMITED (REGISTERED NUMBER: 12903505)

STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 5,181,244 5,181,244

CURRENT ASSETS
Cash at bank 205,522 110,140

CREDITORS
Amounts falling due within one year 5 2,515,381 2,230,230
NET CURRENT LIABILITIES (2,309,859 ) (2,120,090 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,871,385

3,061,154

CREDITORS
Amounts falling due after more than one
year

6

2,585,000

2,885,000
NET ASSETS 286,385 176,154

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 286,375 176,144
SHAREHOLDERS' FUNDS 286,385 176,154

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 30 August 2024 and were signed on its behalf by:





S C Edwards - Director


TPBI UK ASSETS LIMITED (REGISTERED NUMBER: 12903505)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

TPBI UK Assets 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial assets
The Company considers that its financial assets comprises of receivables and intercompany balances. These assets are non-derivative financial assets with fixed or determinable payments. They arise principally through the provision of goods and services to customers (trade receivable). They are carried at cost less provision for impairment.

Impairment provisions are recognised when there is objective evidence (such as significant financial difficulties on the part of the counterparty or default or significant delay in payment) that the Company will be unable to collect all of the amounts due.. For trade receivables, which are recorded net, such provisions are recognised within administrative expenses in the income statement.

Financial liabilities
The Company's financial liabilities include bank overdrafts and loans, intercompany balances, other loans, trade and other payables.

Financial liabilities are recognised when the Company becomes a party to the contractual agreements of the instrument. All interest related charges are recognised as an expense in 'finance costs' in the statement of profit or loss.

Loans, which are raised for the support of the Company's operations are recognised at fair value. Finance charges are charged to the statement of profit or loss using the effective interest method and are added to the carrying amount of the instrument to the extent that they are not settled in the period in which they arise.

Trade payables are recognised initially at their fair value and, if appropriate, remeasured at amortised cost less settlement payments.

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 statement of financial position date.

TPBI UK ASSETS LIMITED (REGISTERED NUMBER: 12903505)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Borrowings
Borrowings are recognised initially at fair value less attributable transaction costs. They are subsequently measured at amortised cost. Any difference between the amount initially recognised and the redemption value is recognised in profit or loss over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 5,181,244
NET BOOK VALUE
At 31 December 2023 5,181,244
At 31 December 2022 5,181,244

In the opinion of the directors, there has been no impairment to value since the property was acquired in September 2020.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 300,000 240,000
Amounts owed to group undertakings 2,215,381 1,990,230
2,515,381 2,230,230

Included within amounts owed to group undertakings is a loan of £1,874,701 (2022: £1,918,213) from TPBI Public Company Limited.

The directors of TPBI Public Company Limited have given a guarantee that the loan will not be recalled within 12 months of the date of signing these accounts.

This loan bears simple interest at a fixed rate of 2.5% per annum.

TPBI UK ASSETS LIMITED (REGISTERED NUMBER: 12903505)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,585,000 2,885,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,343,750 1,590,000

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jane Dennis BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Fairhurst

8. ULTIMATE CONTROLLING PARTY

The company has one shareholder, being TPBI International Company Limited (whose ultimate parent undertaking and controlling party is TPBI Public Company Limited), which is registered in Thailand.

The largest group in which the results of the company is consolidated is TPBI Public Company Limited. Those financial statements are available upon request from 42/174 Moo 5, Soi Srisatian, Raiking, Sampran, Nakhon Pathom 73210, Thailand.