REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2023 TO 5 APRIL 2024 |
FOR |
TFC CAPITAL LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2023 TO 5 APRIL 2024 |
FOR |
TFC CAPITAL LLP |
TFC CAPITAL LLP (REGISTERED NUMBER: OC384499) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 MAY 2023 TO 5 APRIL 2024 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
TFC CAPITAL LLP |
GENERAL INFORMATION |
for the period 1 MAY 2023 TO 5 APRIL 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
TFC CAPITAL LLP (REGISTERED NUMBER: OC384499) |
STATEMENT OF FINANCIAL POSITION |
5 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
466,391 |
1,781,045 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
449,582 |
1,764,236 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 16,809 | 16,809 |
466,391 | 1,781,045 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 449,582 | 1,764,236 |
Members' other interests | 16,809 | 16,809 |
466,391 | 1,781,045 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
TFC CAPITAL LLP (REGISTERED NUMBER: OC384499) |
STATEMENT OF FINANCIAL POSITION - continued |
5 APRIL 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
TFC CAPITAL LLP (REGISTERED NUMBER: OC384499) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 MAY 2023 TO 5 APRIL 2024 |
1. | STATUTORY INFORMATION |
TFC Capital LLP s registered in England and Wales, registration number OC384499. The registered office is 35 Ballards Lane, London, United Kingdom, N3 1XW. |
The principal activity of the LLP in the year under review was that of investment. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentational and functional currency of the financial statements is Pounds Sterling (£). |
Significant judgements and estimates |
In preparing these financial statements, the members are required to make judgements, estimates and assumptions that affect the application of the LLP's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
There are no significant judgements or estimates used in the preparation of these accounts. |
Financial instruments |
The LLP has financial assets and financial liabilities of a kind that qualify as basic financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Fixed asset investments |
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
TFC CAPITAL LLP (REGISTERED NUMBER: OC384499) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 MAY 2023 TO 5 APRIL 2024 |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Other investments not loans |
Other loans |
Additional information is as follows: |
Other |
investments |
£ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 30 April 2023 |
Other |
loans |
£ |
At 1 May 2023 |
Repayment in year | ( |
) |
At 5 April 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Other creditors |
TFC CAPITAL LLP (REGISTERED NUMBER: OC384499) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 MAY 2023 TO 5 APRIL 2024 |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests. |