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REGISTERED NUMBER: 06074223 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

TGC Computers Ltd

TGC Computers Ltd (Registered number: 06074223)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


TGC Computers Ltd (Registered number: 06074223)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 515,794 372,275
515,794 372,275

CURRENT ASSETS
Stocks 297,721 292,558
Debtors 6 1,156,527 778,405
Cash at bank and in hand 392,051 381,277
1,846,299 1,452,240
CREDITORS
Amounts falling due within one year 7 1,113,157 772,249
NET CURRENT ASSETS 733,142 679,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,248,936

1,052,266

CREDITORS
Amounts falling due after more than one
year

8

(308,466

)

(200,253

)

PROVISIONS FOR LIABILITIES (36,716 ) (3,298 )
NET ASSETS 903,754 848,715

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Share premium 4,750 4,750
Capital redemption reserve 50 50
Retained earnings 897,754 842,715
SHAREHOLDERS' FUNDS 903,754 848,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TGC Computers Ltd (Registered number: 06074223)

Balance Sheet - continued
31 January 2024


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 23 October 2024 and were signed on its behalf by:





T J Evans - Director


TGC Computers Ltd (Registered number: 06074223)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

TGC Computers Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06074223

Registered office: Unit 6, Lister Park
Green Lane Industrial Estate
Featherstone
Wakefield
West Yorkshire
WF7 6FE

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.

Revenue from the sale of goods is recognised when goods are delivered and legal title passes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office Equipment - 33% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

TGC Computers Ltd (Registered number: 06074223)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

TGC Computers Ltd (Registered number: 06074223)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 168,994
AMORTISATION
At 1 February 2023
and 31 January 2024 168,994
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Office and
property Equipment fittings
£    £    £   
COST
At 1 February 2023 352,613 38,282 28,290
Additions - 17,700 647
Disposals - - -
At 31 January 2024 352,613 55,982 28,937
DEPRECIATION
At 1 February 2023 - 32,919 26,573
Charge for year - 8,482 1,059
Eliminated on disposal - - -
At 31 January 2024 - 41,401 27,632
NET BOOK VALUE
At 31 January 2024 352,613 14,581 1,305
At 31 January 2023 352,613 5,363 1,717

TGC Computers Ltd (Registered number: 06074223)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 36,477 134,884 590,546
Additions 194,542 - 212,889
Disposals (20,491 ) - (20,491 )
At 31 January 2024 210,528 134,884 782,944
DEPRECIATION
At 1 February 2023 33,041 125,738 218,271
Charge for year 49,037 8,965 67,543
Eliminated on disposal (18,664 ) - (18,664 )
At 31 January 2024 63,414 134,703 267,150
NET BOOK VALUE
At 31 January 2024 147,114 181 515,794
At 31 January 2023 3,436 9,146 372,275

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 175,521
At 31 January 2024 175,521
DEPRECIATION
Charge for year 43,880
At 31 January 2024 43,880
NET BOOK VALUE
At 31 January 2024 131,641

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,051,680 622,343
Other debtors 104,847 156,062
1,156,527 778,405

TGC Computers Ltd (Registered number: 06074223)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 14,087 17,082
Hire purchase contracts 20,201 -
Trade creditors 670,234 361,961
Taxation and social security 127,516 97,632
Other creditors 281,119 295,574
1,113,157 772,249

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 189,218 200,253
Hire purchase contracts 119,248 -
308,466 200,253

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 117,505 124,468

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 203,305 217,335

The company's bankers have secured their debt as follows:

Fixed and floating charges over the freehold property known as 6 Lister Park, Featherstone, Pontefract, WF7 6FE.