Registered number: 10612844
TCR NEW LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2024
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TCR NEW LIMITED
COMPANY INFORMATION
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TCR NEW LIMITED
CONTENTS
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Notes to the financial statements
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TCR NEW LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TCR NEW LIMITED
FOR THE YEAR ENDED 31 JULY 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 TCR NEW LIMITED for the year ended 31 July 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 TCR NEW LIMITED, as a body, in accordance with the terms of our engagement letter dated 11 February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of TCR NEW LIMITED and state those matters that we have agreed to state to the Board of directors of TCR NEW 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 TCR NEW LIMITED and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that TCR NEW 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 TCR NEW LIMITED. You consider that TCR NEW 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 TCR NEW 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.
MA Partners LLP
Chartered Accountants
7 The Close
Norwich
Norfolk
NR1 4DJ
16 April 2025
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TCR NEW LIMITED
REGISTERED NUMBER: 10612844
BALANCE SHEET
AS AT 31 JULY 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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TCR NEW LIMITED
REGISTERED NUMBER: 10612844
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 profit and loss account 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 by:
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A D Chambers
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The notes on pages 4 to 5 form part of these financial statements.
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TCR NEW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
TCR New Limited is a private limited Company incorporated in England and Wales. Its registered office is 29 Woodside Road, Bournemouth, England, BH5 2AZ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
At the balance sheet date the Company had net liabilities of £7,871,448, of which £3,203,306 related to an intra group creditor. As such, the directors and shareholders are able to confirm that support will be provided to the Company and it will continue to operate as a going concern for a period of 12 months from the date of approval.
Turnover comprises rental income from investment properties leased out under operating leases and is recognised on a straight-line basis over the term of the lease.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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 loans
to and from related parties.Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
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TCR NEW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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Called up share capital not paid
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Allotted, called up and partly paid
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Enter number Ordinary shares of £1.00 each
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