1 false false false false true false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 387,838 182,755 205,083 80,857 4,102 76,755 8,204 196,879 306,981 100 100 100 100 xbrli:pure xbrli:shares iso4217:GBP SC315881 2023-02-01 2024-01-31 SC315881 2024-01-31 SC315881 2023-01-31 SC315881 2022-02-01 2023-01-31 SC315881 2023-01-31 SC315881 2022-01-31 SC315881 core:Subsidiary1 2023-02-01 2024-01-31 SC315881 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC315881 bus:Director5 2023-02-01 2024-01-31 SC315881 core:LandBuildings 2023-01-31 SC315881 core:LandBuildings 2024-01-31 SC315881 core:WithinOneYear 2024-01-31 SC315881 core:WithinOneYear 2023-01-31 SC315881 core:AfterOneYear 2024-01-31 SC315881 core:AfterOneYear 2023-01-31 SC315881 core:LandBuildings 2023-02-01 2024-01-31 SC315881 core:ShareCapital 2024-01-31 SC315881 core:ShareCapital 2023-01-31 SC315881 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC315881 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC315881 core:CostValuation core:Non-currentFinancialInstruments 2023-01-31 SC315881 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-01-31 SC315881 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-01-31 SC315881 core:DisposalsDecreaseInProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-01-31 SC315881 core:LandBuildings 2023-01-31 SC315881 bus:SmallEntities 2023-02-01 2024-01-31 SC315881 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC315881 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC315881 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC315881 bus:FullAccounts 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: SC315881
TGWH Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2024
TGWH Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
196,879
306,981
Current assets
Debtors
7
9,343
36,860
Cash at bank and in hand
10,009
11,345
--------
--------
19,352
48,205
Creditors: amounts falling due within one year
8
21,594
24,384
--------
--------
Net current (liabilities)/assets
( 2,242)
23,821
---------
---------
Total assets less current liabilities
194,637
330,802
Creditors: amounts falling due after more than one year
9
5,613
140,333
---------
---------
Net assets
189,024
190,469
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
188,924
190,369
---------
---------
Shareholders funds
189,024
190,469
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
K Forret
Director
Company registration number: SC315881
TGWH Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 5 Bath Street, Largs, KA30 8BL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and even with the ongoing economic impact have 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 these financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover represents the invoiced value, net of Value Added Tax, of rental income from tenants.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Tangible assets
Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Included within freehold property is the cost of land which is not depreciated.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Land and buildings
£
Cost
At 1 February 2023
387,838
Disposals
( 182,755)
---------
At 31 January 2024
205,083
---------
Depreciation
At 1 February 2023
80,857
Charge for the year
4,102
Disposals
( 76,755)
---------
At 31 January 2024
8,204
---------
Carrying amount
At 31 January 2024
196,879
---------
At 31 January 2023
306,981
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 February 2023
100
Disposals
( 100)
----
At 31 January 2024
----
Impairment
At 1 February 2023
100
Disposals
( 100)
----
At 31 January 2024
----
Carrying amount
At 31 January 2024
----
At 31 January 2023
----
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Wilkies Limited
Ordinary
100
During the year, Wilkies Limited entered into administration.
7. Debtors
2024
2023
£
£
Trade debtors
25
25
Amounts owed by group undertakings and undertakings in which the company has a participating interest
9,162
36,835
Other debtors
156
-------
--------
9,343
36,860
-------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
15,863
12,532
Trade creditors
33
Corporation tax
3,138
8,132
Social security and other taxes
1,160
Other creditors
2,560
2,560
--------
--------
21,594
24,384
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,613
140,333
-------
---------
There are two bank loans owed by the Company.
The first is being repaid over a 72 month term at an interest rate of 2.5% per annum. The loan is unsecured. The second is being repaid over a 180 month term at a fixed rate of 4.69% for the first 36 months and then at 3.45% plus base rate for the remainder of the term. It is secured with a standard fixed charge over the property to which it pertains, and a bond and floating charge over the assets of the company. The proceeds from the sale of the Kirkcaldy property were used to pay down this loan in the year.
10. Related party transactions
The company has taken advantage of exemption under FRS 102 Section 1A from the requirement to disclose information with entities that are wholly owned in the group.