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COMPANY REGISTRATION NUMBER: 09191741
TLC Yorkshire Property Limited
Filleted Unaudited Financial Statements
31 August 2024
TLC Yorkshire Property Limited
Balance Sheet
31 August 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
1,814
2,268
Current assets
Debtors
7
1,534
2,658
Cash at bank and in hand
555
38
-------
-------
2,089
2,696
Creditors: amounts falling due within one year
8
( 75,745)
( 72,806)
--------
--------
Net current liabilities
( 73,656)
( 70,110)
--------
--------
Total assets less current liabilities
( 71,842)
( 67,842)
Creditors: amounts falling due after more than one year
Bank loans and overdrafts
( 15,528)
( 17,265)
--------
--------
Net liabilities
( 87,370)
( 85,107)
--------
--------
Capital and reserves
Called up share capital
100
100
Share premium account
19,970
19,970
Profit and loss account
( 107,440)
( 105,177)
---------
---------
Shareholders deficit
( 87,370)
( 85,107)
---------
---------
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 profit and loss account has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TLC Yorkshire Property Limited
Balance Sheet (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 1 April 2025 , and are signed on behalf of the board by:
Mr S T Lawrence
Director
Company registration number: 09191741
TLC Yorkshire Property Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Forge, Bowling Green Yard, Kirkgate, Knaresborough, HG5 8FL.
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 company meets its day to day working capital requirements by loans from the director. The director will continue to support the company for the foreseeable future and therefore considers that it is appropriate to prepare the financial statements on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
The franchise fee is initially recorded at cost.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Purchased goodwill
-
5 years
Franchise fee
-
5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans from banks and other third parties.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Purchased goodwill
£
Cost
At 1 September 2023 and 31 August 2024
36,000
--------
Amortisation
At 1 September 2023 and 31 August 2024
36,000
--------
Carrying amount
At 31 August 2024
--------
At 31 August 2023
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 September 2023 and 31 August 2024
7,463
7,463
-------
-------
Depreciation
At 1 September 2023
5,195
5,195
Charge for the year
454
454
-------
-------
At 31 August 2024
5,649
5,649
-------
-------
Carrying amount
At 31 August 2024
1,814
1,814
-------
-------
At 31 August 2023
2,268
2,268
-------
-------
7. Debtors
2024
2023
£
£
Trade debtors
1,316
2,658
Other debtors
218
-------
-------
1,534
2,658
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
13,589
11,186
Trade creditors
1,138
444
Social security and other taxes
18,859
26,727
Debenture loans
23,923
30,248
Other creditors
18,236
4,201
--------
--------
75,745
72,806
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr S T Lawrence
( 3,337)
1,215
( 15,116)
( 17,238)
-------
-------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr S T Lawrence
18,091
( 21,428)
( 3,337)
--------
----
--------
-------