IRIS Accounts Production v24.3.0.553 SC688471 director 1.3.23 31.7.24 31.7.24 false true false false false true false ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6884712023-02-28SC6884712024-07-31SC6884712023-03-012024-07-31SC6884712022-02-28SC6884712022-03-012023-02-28SC6884712023-02-28SC688471ns15:Scotland2023-03-012024-07-31SC688471ns14:PoundSterling2023-03-012024-07-31SC688471ns10:Director12023-03-012024-07-31SC688471ns10:PrivateLimitedCompanyLtd2023-03-012024-07-31SC688471ns10:SmallEntities2023-03-012024-07-31SC688471ns10:AuditExemptWithAccountantsReport2023-03-012024-07-31SC688471ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-07-31SC688471ns10:SmallCompaniesRegimeForAccounts2023-03-012024-07-31SC688471ns10:FullAccounts2023-03-012024-07-31SC68847112023-03-012024-07-31SC688471ns10:OrdinaryShareClass12023-03-012024-07-31SC688471ns10:RegisteredOffice2023-03-012024-07-31SC688471ns5:CurrentFinancialInstruments2024-07-31SC688471ns5:CurrentFinancialInstruments2023-02-28SC688471ns5:Non-currentFinancialInstruments2024-07-31SC688471ns5:Non-currentFinancialInstruments2023-02-28SC688471ns5:ShareCapital2024-07-31SC688471ns5:ShareCapital2023-02-28SC688471ns5:RetainedEarningsAccumulatedLosses2024-07-31SC688471ns5:RetainedEarningsAccumulatedLosses2023-02-28SC688471ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-07-31SC688471ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-012024-07-31SC688471ns5:PlantMachinery2023-03-012024-07-31SC688471ns5:IntangibleAssetsOtherThanGoodwill2023-02-28SC688471ns5:IntangibleAssetsOtherThanGoodwill2024-07-31SC688471ns5:IntangibleAssetsOtherThanGoodwill2023-02-28SC688471ns5:PlantMachinery2023-02-28SC688471ns5:PlantMachinery2024-07-31SC688471ns5:PlantMachinery2023-02-28SC688471ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31SC688471ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-28SC688471ns5:DeferredTaxation2023-02-28SC688471ns5:DeferredTaxation2023-03-012024-07-31SC688471ns5:DeferredTaxation2024-07-31SC688471ns10:OrdinaryShareClass12024-07-31SC688471ns5:RetainedEarningsAccumulatedLosses2023-02-28SC688471ns5:RetainedEarningsAccumulatedLosses2023-03-012024-07-31
REGISTERED NUMBER: SC688471 (Scotland)















TGC H&M Ltd

Financial Statements For The Period 1 March 2023 to 31 July 2024






TGC H&M Ltd (Registered number: SC688471)






Contents of the Financial Statements
For The Period 1 March 2023 to 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

TGC H&M Ltd

Company Information
For The Period 1 March 2023 to 31 July 2024







DIRECTOR: F S Fitzgerald





REGISTERED OFFICE: Park House Centre
South Street
Elgin
Moray
IV30 1JB





REGISTERED NUMBER: SC688471 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

TGC H&M Ltd (Registered number: SC688471)

Balance Sheet
31 July 2024

31.7.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 24,000
Tangible assets 5 - 649
- 24,649

CURRENT ASSETS
Stocks - 1,482
Debtors 6 64,191 13,549
Cash at bank 6,316 7,974
70,507 23,005
CREDITORS
Amounts falling due within one year 7 63,811 35,385
NET CURRENT ASSETS/(LIABILITIES) 6,696 (12,380 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,696

12,269

CREDITORS
Amounts falling due after more than one
year

8

-

(12,087

)

PROVISIONS FOR LIABILITIES 9 - (123 )
NET ASSETS 6,696 59

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 6,695 58
SHAREHOLDERS' FUNDS 6,696 59

TGC H&M Ltd (Registered number: SC688471)

Balance Sheet - continued
31 July 2024


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

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

The director acknowledges her 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.

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 21 November 2024 and were signed by:





F S Fitzgerald - Director


TGC H&M Ltd (Registered number: SC688471)

Notes to the Financial Statements
For The Period 1 March 2023 to 31 July 2024

1. STATUTORY INFORMATION

TGC H&M Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Franchise fees are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

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

Taxation
Taxation for the period 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 period 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.

TGC H&M Ltd (Registered number: SC688471)

Notes to the Financial Statements - continued
For The Period 1 March 2023 to 31 July 2024

2. ACCOUNTING POLICIES - continued

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 period was 16 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023 40,000
Impairments (19,000 )
At 31 July 2024 21,000
AMORTISATION
At 1 March 2023 16,000
Charge for period 5,000
At 31 July 2024 21,000
NET BOOK VALUE
At 31 July 2024 -
At 28 February 2023 24,000

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2023 849
Disposals (849 )
At 31 July 2024 -
DEPRECIATION
At 1 March 2023 200
Charge for period 213
Eliminated on disposal (413 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 28 February 2023 649

TGC H&M Ltd (Registered number: SC688471)

Notes to the Financial Statements - continued
For The Period 1 March 2023 to 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 28.2.23
£    £   
Trade debtors 64,191 13,477
Other debtors - 72
64,191 13,549

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 28.2.23
£    £   
Trade creditors 14,522 20,079
Taxation and social security 20,603 5,174
Other creditors 28,686 10,132
63,811 35,385

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 28.2.23
£    £   
Other creditors - 12,087

9. PROVISIONS FOR LIABILITIES
31.7.24 28.2.23
£    £   
Deferred tax - 123

Deferred
tax
£   
Balance at 1 March 2023 123
Provided during period (123 )
Balance at 31 July 2024 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 28.2.23
value: £    £   
1 ordinary £1 1 1

TGC H&M Ltd (Registered number: SC688471)

Notes to the Financial Statements - continued
For The Period 1 March 2023 to 31 July 2024

11. RESERVES
Retained
earnings
£   

At 1 March 2023 58
Profit for the period 12,087
Dividends (5,450 )
At 31 July 2024 6,695

12. RELATED PARTY DISCLOSURES

During the period, total dividends of £5,450 (2023 - £7,700) were paid to the director .

F S Fitzgerald
is a director in the company


Included in other creditors is an interest free directors loan. There are no repayment terms.

31.7.24 28.2.23
£    £   
Amount due to related party at the balance sheet date 5,933 4,048

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
TGC H&M 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 TGC H&M Ltd for the period ended 31 July 2024 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 TGC H&M Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TGC H&M Ltd and state those matters that we have agreed to state to the director of TGC H&M 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 TGC H&M Ltd and its director for our work or for this report.

It is your duty to ensure that TGC H&M 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 profit of TGC H&M Ltd. You consider that TGC H&M Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of TGC H&M 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.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


21 November 2024