IRIS Accounts Production v24.1.0.578 06469322 director 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064693222022-12-31064693222023-12-31064693222023-01-012023-12-31064693222021-12-31064693222022-01-012022-12-31064693222022-12-3106469322ns15:EnglandWales2023-01-012023-12-3106469322ns14:PoundSterling2023-01-012023-12-3106469322ns10:Director12023-01-012023-12-3106469322ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106469322ns10:SmallEntities2023-01-012023-12-3106469322ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3106469322ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106469322ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106469322ns10:FullAccounts2023-01-012023-12-3106469322ns10:RegisteredOffice2023-01-012023-12-3106469322ns5:CurrentFinancialInstruments2023-12-3106469322ns5:CurrentFinancialInstruments2022-12-3106469322ns5:Non-currentFinancialInstruments2023-12-3106469322ns5:Non-currentFinancialInstruments2022-12-3106469322ns5:ShareCapital2023-12-3106469322ns5:ShareCapital2022-12-3106469322ns5:RevaluationReserve2023-12-3106469322ns5:RevaluationReserve2022-12-3106469322ns5:RetainedEarningsAccumulatedLosses2023-12-3106469322ns5:RetainedEarningsAccumulatedLosses2022-12-3106469322ns5:PlantMachinery2023-01-012023-12-3106469322ns5:PlantMachinery2022-12-3106469322ns5:PlantMachinery2023-12-3106469322ns5:PlantMachinery2022-12-3106469322ns5:CostValuation2022-12-3106469322ns5:AdditionsToInvestments2023-12-3106469322ns5:DisposalsRepaymentsInvestments2023-12-3106469322ns5:RevaluationsIncreaseDecreaseInInvestments2023-12-3106469322ns5:CostValuation2023-12-3106469322ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106469322ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3106469322ns5:RevaluationReserve2022-12-31
REGISTERED NUMBER: 06469322 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Tfconnect Ltd.

Tfconnect Ltd. (Registered number: 06469322)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Tfconnect Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTOR: T Foley





REGISTERED OFFICE: Audley House
Northbridge Road
Berkhamsted
Hertfordshire
HP4 1EH





REGISTERED NUMBER: 06469322 (England and Wales)





ACCOUNTANTS: Stewarts Accountants Limited
271 High Street
Berkhamsted
Hertfordshire
HP4 1AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Tfconnect Ltd.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tfconnect Ltd. for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Tfconnect Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tfconnect Ltd. and state those matters that we have agreed to state to the director of Tfconnect Ltd. in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tfconnect Ltd. and its director for our work or for this report.

It is your duty to ensure that Tfconnect Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Tfconnect Ltd.. You consider that Tfconnect Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tfconnect Ltd.. 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 statutory financial statements.






Stewarts Accountants Limited
271 High Street
Berkhamsted
Hertfordshire
HP4 1AA


31 July 2024

Tfconnect Ltd. (Registered number: 06469322)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,450 9,934
Investments 5 52,547 55,532
Investment property 6 675,000 700,000
734,997 765,466

CURRENT ASSETS
Debtors 7 26,296 50,115
Cash at bank 21,671 29,638
47,967 79,753
CREDITORS
Amounts falling due within one year 8 307,296 314,730
NET CURRENT LIABILITIES (259,329 ) (234,977 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

475,668

530,489

CREDITORS
Amounts falling due after more than one
year

9

19,792

27,239
NET ASSETS 455,876 503,250

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 10 194,962 219,962
Retained earnings 259,914 282,288
SHAREHOLDERS' FUNDS 455,876 503,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Tfconnect Ltd. (Registered number: 06469322)

Balance Sheet - continued
31 December 2023


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 director and authorised for issue on 31 July 2024 and were signed by:





T Foley - Director


Tfconnect Ltd. (Registered number: 06469322)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Tfconnect Ltd. 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Tfconnect Ltd. (Registered number: 06469322)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 59,987
DEPRECIATION
At 1 January 2023 50,053
Charge for year 2,484
At 31 December 2023 52,537
NET BOOK VALUE
At 31 December 2023 7,450
At 31 December 2022 9,934

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 55,532
Additions 15,000
Disposals (25,900 )
Revaluations 7,915
At 31 December 2023 52,547
NET BOOK VALUE
At 31 December 2023 52,547
At 31 December 2022 55,532

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2017 21,079
Valuation in 2018 26,907
Valuation in 2019 (10,000 )
Valuation in 2020 (37,986 )
Valuation in 2021 45,284
Valuation in 2022 10,248
Valuation in 2023 (2,985 )
52,547

Tfconnect Ltd. (Registered number: 06469322)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 700,000
Revaluations (25,000 )
At 31 December 2023 675,000
NET BOOK VALUE
At 31 December 2023 675,000
At 31 December 2022 700,000

Included in fair value of investment property is freehold land of £ 700,000 (2022 - £ 700,000 ) which is not depreciated.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 649,342
Valuation in 2019 (154,342 )
Valuation in 2021 176,250
Valuation in 2022 28,750
Valuation in 2023 (25,000 )
675,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 26,296 50,115

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 708 1,919
Taxation and social security - (14,495 )
Other creditors 306,588 327,306
307,296 314,730

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 19,792 27,239

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,345 19,792

Tfconnect Ltd. (Registered number: 06469322)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023 219,962
Investment property revalued (25,000 )

At 31 December 2023 194,962

11. RELATED PARTY DISCLOSURES

Included within other creditors as at the year end is £310 (2022: £213),an amount owed to the director of the company.The amount owed is unsecured and there are no specific terms to the repayment of this amount.

Included within other debtors as at the year end is £23,286 (2022:£37,392),which is due from Tfconnect Global Talent & Partnerships Limited, a company with the common director. This amount due is receivable on demand.