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Registered number: 12781849













TCB Practice Limited

Financial statements
Information for filing with the registrar

31 March 2024




 
TCB Practice Limited
 
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of TCB Practice Limited for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TCB Practice Limited for the year ended 31 March 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the board of directors of TCB Practice Limited, as a body, in accordance with the terms of our engagement letter dated 20 October 2021Our work has been undertaken solely to prepare for your approval the financial statements of TCB Practice Limited and state those matters that we have agreed to state to the board of directors of TCB Practice Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TCB Practice Limited and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that TCB Practice Limited 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 TCB Practice Limited. You consider that TCB Practice Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of TCB Practice 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 financial statements.

  



UNW LLP
Chartered Accountants
Citygate
St James' Boulevard
Newcastle upon Tyne
NE1 4JE
8 November 2024
1

 
TCB Practice Limited


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
568,903
568,903

Investments
 4 
1,467,648
1,467,648

  
2,036,551
2,036,551

Current assets
  

Cash at bank and in hand
  
12,655
7,417

  
12,655
7,417

Creditors: amounts falling due within one year
 5 
(647,350)
(767,628)

Net current liabilities
  
 
 
(634,695)
 
 
(760,211)

Total assets less current liabilities
  
1,401,856
1,276,340

Creditors: amounts falling due after more than one year
 6 
(1,243,881)
(1,282,586)

  

Net assets/(liabilities)
  
157,975
(6,246)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
157,775
(6,446)

Shareholders' funds / (deficit)
  
157,975
(6,246)


2

 
TCB Practice Limited

    
Balance sheet (continued)
At 31 March 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 November 2024.




Matthew John Collins
Samuel Mark Mcalister
Director
Director

Registered number: 12781849
The notes on pages 4 to 6 form part of these financial statements. 

3

 
TCB Practice Limited
 
 

Notes to the financial statements
for the year ended 31 March 2024

1.


General information

TCB Practice Limited ("the company") is a private company limited by shares, incorporated in the United Kingdom and registered in England. The address of the registered office is Citygate, St. James Boulevard, Newcastle Upon Tyne, United Kingdom, NE1 4JE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

4

 
TCB Practice Limited
 
 

Notes to the financial statements
for the year ended 31 March 2024

3.


Tangible fixed assets





Freehold property

£



Cost


At 1 April 2023
568,903



At 31 March 2024

568,903






Net book value



At 31 March 2024
568,903


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2023
1,467,648



At 31 March 2024
1,467,648





5.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
58,662
72,111

Amounts owed to group undertakings
561,666
518,124

Amounts owed to joint ventures
-
91,103

Other creditors
24,430
84,430

Accruals and deferred income
2,592
1,860

647,350
767,628


5

 
TCB Practice Limited
 
 

Notes to the financial statements
for the year ended 31 March 2024

6.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,243,881
1,282,586

1,243,881
1,282,586



7.


Related party transactions

During the year the company operated an intercompany account with NL Practice Limited to record amounts due and from the subsidiary. At 31 March 2024 the company owed £530,564 to NL Practice Limited (2023: £518,124).
During the year the company operated an intercompany account with Eclipse (Batley) Limited to record amounts due and from the company. At 31 March 2024 the company owed £31,103 to Eclipse (Batley) Limited (2023: £91,103).

 
6