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Registered Number: 10578993
England and Wales

 

 

 

TGK BRAND LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Report to the directors on the preparation of the unaudited statutory accounts of TGK BRAND LIMITED for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TGK BRAND LIMITED for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of TGK BRAND LIMITED, as a body, in accordance with the terms of our engagement letter dated 30 October 2024 Our work has been undertaken solely to prepare for your approval the accounts of TGK BRAND LIMITED and state those matters that we have agreed to state to the Board of Directors of TGK BRAND LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TGK BRAND LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that TGK BRAND LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of TGK BRAND LIMITED. You consider that TGK BRAND LIMITED 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 accounts of TGK BRAND LIMITED. 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 accounts
31 January 2024



....................................................
SK Chartered Accountants
1 Goschen House
68 Peckham Road
London
SE5 8QE
30 October 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 48,669    1,745 
48,669    1,745 
Current assets      
Debtors 199,983    199,339 
Cash at bank and in hand 368,829    21,662 
568,812    221,001 
Creditors: amount falling due within one year (261,637)   (106,711)
Net current assets 307,175    114,290 
 
Total assets less current liabilities 355,844    116,035 
Provisions for liabilities (2,504)  
Net assets 353,340    116,035 
 

Capital and reserves
     
Called up share capital 100    100 
General Reserves 5 115,259    54,031 
Profit and loss account 237,981    61,904 
Shareholders' funds 353,340    116,035 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:


-------------------------------
Segun Akinwoleola
Director
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General Information
TGK BRAND LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10578993, registration address 71-75 SHELTON STREET, COVENT GARDEN LONDON, WC2H 9JQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings: 25% reducing balance
Computer Equipment: 25% reducing balance
Motor Vehicle: 25% reducing balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Staff Costs

2024
£
  2023
£
Wages and salaries 57,158   
Social security costs 5,168   
Pension costs, defined contribution plan 4,552   
Other staff costs 4,086    515 
70,964    515 

3.

Average number of employees

Average number of employees during the year was 5 (2023 : 2).
4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 February 2023   2,691    2,691 
Additions 43,830    8,877    52,707 
Disposals    
At 31 January 2024 43,830    11,568    55,398 
Depreciation
At 01 February 2023   946    946 
Charge for year 4,566    1,217    5,783 
On disposals    
At 31 January 2024 4,566    2,163    6,729 
Net book values
Closing balance as at 31 January 2024 39,264    9,405    48,669 
Opening balance as at 01 February 2023   1,745    1,745 


5.

General Reserves

2024
£
  2023
£
General Reserve 115,259    54,031 
115,259    54,031 

3