T F C A (2003) Limited 04673330 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is manufacture and retail of high quality reproduction furniture Digita Accounts Production Advanced 6.30.9574.0 true true 04673330 2022-04-01 2023-03-31 04673330 2023-03-31 04673330 bus:OrdinaryShareClass1 2023-03-31 04673330 core:CurrentFinancialInstruments 2023-03-31 04673330 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04673330 core:Goodwill 2023-03-31 04673330 core:OtherPropertyPlantEquipment 2023-03-31 04673330 bus:SmallEntities 2022-04-01 2023-03-31 04673330 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04673330 bus:FilletedAccounts 2022-04-01 2023-03-31 04673330 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04673330 bus:RegisteredOffice 2022-04-01 2023-03-31 04673330 bus:Director1 2022-04-01 2023-03-31 04673330 bus:Director2 2022-04-01 2023-03-31 04673330 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04673330 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04673330 core:Goodwill 2022-04-01 2023-03-31 04673330 core:MotorVehicles 2022-04-01 2023-03-31 04673330 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 04673330 core:PlantMachinery 2022-04-01 2023-03-31 04673330 countries:England 2022-04-01 2023-03-31 04673330 2022-03-31 04673330 core:Goodwill 2022-03-31 04673330 core:OtherPropertyPlantEquipment 2022-03-31 04673330 2021-04-01 2022-03-31 04673330 2022-03-31 04673330 bus:OrdinaryShareClass1 2022-03-31 04673330 core:CurrentFinancialInstruments 2022-03-31 04673330 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 04673330 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04673330

T F C A (2003) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

T F C A (2003) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

T F C A (2003) Limited

Company Information

Directors

I Picken

Mrs J Picken

Registered office

Unit 61Q Gorse Industrial Estate
Barnham
Thetford
Norfolk
IP24 2PH

Accountants

Hodson Lewis Limited
Certified Accountants and Business Advisors
First Floor
Abbotsgate House
Hollow Road
Bury St Edmunds
Suffolk
IP32 7FA

 

T F C A (2003) Limited

(Registration number: 04673330)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

628

718

Current assets

 

Stocks

6

4,583

4,623

Debtors

7

2,385

3,823

Cash at bank and in hand

 

18,969

15,040

 

25,937

23,486

Creditors: Amounts falling due within one year

8

(103,377)

(86,353)

Net current liabilities

 

(77,440)

(62,867)

Net liabilities

 

(76,812)

(62,149)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(76,912)

(62,249)

Shareholders' deficit

 

(76,812)

(62,149)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

 

T F C A (2003) Limited

(Registration number: 04673330)
Balance Sheet as at 31 March 2023

.........................................
I Picken
Director

 

T F C A (2003) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 61Q Gorse Industrial Estate
Barnham
Thetford
Norfolk
IP24 2PH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to the CJRS and SBGF are included on an accruals model. These grants are presented within other operating income.

 

T F C A (2003) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% Straight Line

Motor vehicles

25% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Amortised over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

T F C A (2003) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

T F C A (2003) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

54,186

54,186

At 31 March 2023

54,186

54,186

Amortisation

At 1 April 2022

54,186

54,186

At 31 March 2023

54,186

54,186

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

28,609

28,609

Additions

337

337

At 31 March 2023

28,946

28,946

Depreciation

At 1 April 2022

27,891

27,891

Charge for the year

427

427

At 31 March 2023

28,318

28,318

Carrying amount

At 31 March 2023

628

628

At 31 March 2022

718

718

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

 

T F C A (2003) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Stocks

2023
£

2022
£

Other inventories

4,583

4,623

7

Debtors

Current

2023
£

2022
£

Trade debtors

1,334

2,960

Prepayments

750

562

Other debtors

301

301

 

2,385

3,823

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

15,279

14,125

Taxation and social security

38,085

42,207

Accruals and deferred income

22,001

27,638

Other creditors

28,012

2,383

103,377

86,353

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100