Registered number: 12781849
|
TCB Practice Limited
Financial statements
Information for filing with the registrar
31 March 2024
|
|
|
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 2021. Our 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
|
Balance sheet
At 31 March 2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' funds / (deficit)
|
|
|
|
|
|
|
|
|
|
|
|
2
|
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.
Registered number: 12781849
The notes on pages 4 to 6 form part of these financial statements.
3
|
Notes to the financial statements
for the year ended 31 March 2024
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
|
|
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.
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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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:
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.
Investments in subsidiaries are measured at cost less accumulated impairment.
4
|
Notes to the financial statements
for the year ended 31 March 2024
|
|
Investments in subsidiary companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
Amounts owed to joint ventures
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
5
|
Notes to the financial statements
for the year ended 31 March 2024
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|