REGISTERED NUMBER: 12843315 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2024

for

TCF Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J R Chapman

L M Chapman

REGISTERED OFFICE:

Jarvis House

Sadler Road

Lincoln

LN6 3RS

REGISTERED NUMBER:

12843315 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Intangible assets

4

-

3,329

Tangible assets

5

2,497,788

3,456,798

Investments

6

24,449

24,449

2,522,237

3,484,576

CURRENT ASSETS

Debtors

7

304,088

167,542

Cash at bank and in hand

77,709

5,739

381,797

173,281

CREDITORS

Amounts falling due within one year

8

448,912

575,903

NET CURRENT LIABILITIES

(67,115

)

(402,622

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,455,122

3,081,954

CREDITORS

Amounts falling due after more than one year

9

(1,436,496

)

(2,146,556

)

PROVISIONS FOR LIABILITIES

(105,920

)

(86,208

)

NET ASSETS

912,706

849,190

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Revaluation reserve

12

17,615

65,176

Retained earnings

894,091

783,014

SHAREHOLDERS' FUNDS

912,706

849,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:

Mrs J R Chapman - Director

1.	STATUTORY INFORMATION

TCF Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

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.

Website costs is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost and 20% on cost

Computer equipment

-

50% on cost

Assets classified as Land and Buildings are valued on an open market value by external valuers.

Assets classified as Plant and Machinery are valued on an open market value based by the directors of the company. The directors consider the second hand market value of the assets held at the balance sheet date when assessing this.

The valuations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period. An increase in value is credited to the revaluation reserve except to the extent that it reverses a previous revaluation decrease related to the same asset that was recognised in the income statement. Similarly, revaluation decreases are recognised in the revaluation reserves to the extent that they equal gains previously recognised in respect of the same asset. Thereafter any excess is recognised as an expense in the income statement.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the year 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 year 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.

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 year was 7 (2023 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 December 2023

and 30 November 2024

9,987

AMORTISATION

At 1 December 2023

6,658

Charge for year

3,329

At 30 November 2024

9,987

NET BOOK VALUE

At 30 November 2024

-

At 30 November 2023

3,329

5.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Computer

Buildings

machinery

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 December 2023

2,984,537

235,970

235,259

2,253

3,458,019

Additions

1,527

-

-

-

1,527

Disposals

(950,000

)

-

-

-

(950,000

)

At 30 November 2024

2,036,064

235,970

235,259

2,253

2,509,546

DEPRECIATION

At 1 December 2023

-

-

784

437

1,221

Charge for year

-

-

9,411

1,126

10,537

At 30 November 2024

-

-

10,195

1,563

11,758

NET BOOK VALUE

At 30 November 2024

2,036,064

235,970

225,064

690

2,497,788

At 30 November 2023

2,984,537

235,970

234,475

1,816

3,456,798

Cost or valuation at 30 November 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2023

-

17,543

17,543

Cost

2,036,064

455,939

2,492,003

2,036,064

473,482

2,509,546

If land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

2,986,032

2,936,976

Value of land in freehold land and buildings

2,986,032

2,987,537

Land and buildings were valued on an open market basis on 6 December 2022 by Eddisons Taylors .

Plant and machinery was revalued on an open market basis on 30 November 2023 by the directors.

If plant and machinery had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

218,427

218,427

Accumulated depreciation

15,424

2,457

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 December 2023

and 30 November 2024

24,449

NET BOOK VALUE

At 30 November 2024

24,449

At 30 November 2023

24,449

7.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

97,072

-

Amounts owed by group undertakings

-

24,840

Other debtors

54,032

78,646

151,104

103,486

Amounts falling due after more than one year:

Amounts owed by group undertakings

152,984

64,056

Aggregate amounts

304,088

167,542

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

165,674

302,889

Trade creditors

14,217

47,286

Taxation and social security

155,273

32,734

Other creditors

113,748

192,994

448,912

575,903

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

1,425,747

2,129,394

Other creditors

10,749

17,162

1,436,496

2,146,556

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

1,591,421

2,432,283

The secured debts relate to fixed and floating charges over current and future assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

£

610

Ordinary A shares

610

60

Ordinary B shares

60

60

Ordinary C shares

60

60

Ordinary D shares

60

60

Ordinary E shares

60

150

Ordinary F shares

150

1,000

12.

RESERVES

Revaluation

reserve

£

At 1 December 2023

65,176

Revaluation transfer

(47,561

)

At 30 November 2024

17,615

13.	RELATED PARTY DISCLOSURES

Amounts owed from and to group undertakings are not subject to interest.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs J R Chapman.