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REGISTERED NUMBER: 03853596 (England and Wales)
















































Financial Statements

for the Year Ended 31 January 2025

for

TKC Sales Limited

TKC Sales Limited (Registered number: 03853596)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TKC Sales Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: P Wearmouth
M W T Woodruffe





REGISTERED OFFICE: The Old Spitfire Hanger
The Strand
Steeple Ashton
Trowbridge
Wiltshire
BA14 6EP





REGISTERED NUMBER: 03853596 (England and Wales)





AUDITORS: Mander Duffill
Chartered Accountants & Statutory Auditor
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

TKC Sales Limited (Registered number: 03853596)

Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 24,616 36,725
24,616 36,725

CURRENT ASSETS
Stocks 3,004,295 3,567,670
Debtors 7 1,008,272 927,724
Cash at bank and in hand 172,891 167,952
4,185,458 4,663,346
CREDITORS
Amounts falling due within one year 8 626,688 484,255
NET CURRENT ASSETS 3,558,770 4,179,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,583,386

4,215,816

PROVISIONS FOR LIABILITIES 5,209 8,175
NET ASSETS 3,578,177 4,207,641

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 3,577,177 4,206,641
3,578,177 4,207,641

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:





M W T Woodruffe - Director


TKC Sales Limited (Registered number: 03853596)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

TKC Sales Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at fair value of the consideration received or receivable. Turnover is reduced for customer returns, rebates or other similar allowances and is net of value added taxes. Turnover includes revenue earned from the sale of goods.

Revenue from the sale of goods is recognised when all of the following have been satisfied:
- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- the company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction can be measured reliably.

Specifically, revenue from the sale of goods is primarily recognised on despatch of goods to the customer.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 25% on reducing balance

TKC Sales Limited (Registered number: 03853596)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct acquisition costs, are based on the method most appropriate for the type of inventory class, but usually on a first-in-first-out basis. overheads are charged to the profit and loss as incurred. Net realisable value is based on the estimated selling price price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. the amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. the amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

TKC Sales Limited (Registered number: 03853596)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

3. ACCOUNTING POLICIES - continued

Derivative financial instruments
Derivatives, including interest rate swaps and forward foreign exchange contracts are not basic financial instruments.

Derivatives are initially recognised as fair value on the date the derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit and loss in finance costs or finance income as appropriate unless they are included in a hedging arrangement.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 18 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2024
and 31 January 2025 16,832
AMORTISATION
At 1 February 2024
and 31 January 2025 16,832
NET BOOK VALUE
At 31 January 2025 -
At 31 January 2024 -

6. TANGIBLE FIXED ASSETS
Furniture,
Improvements fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2024 16,854 260,437 19,200 296,491
Additions - 8,611 - 8,611
Disposals - (6,884 ) - (6,884 )
At 31 January 2025 16,854 262,164 19,200 298,218
DEPRECIATION
At 1 February 2024 16,854 225,155 17,757 259,766
Charge for year - 20,359 361 20,720
Eliminated on disposal - (6,884 ) - (6,884 )
At 31 January 2025 16,854 238,630 18,118 273,602
NET BOOK VALUE
At 31 January 2025 - 23,534 1,082 24,616
At 31 January 2024 - 35,282 1,443 36,725

TKC Sales Limited (Registered number: 03853596)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade debtors 833,864 770,056
Other debtors 70,334 -
Prepayments and accrued income 104,074 157,668
1,008,272 927,724

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade creditors 165,447 182,028
Corporation tax 136,756 20,581
Social security and other taxes 226,030 204,198
Accruals and deferred income 98,455 77,448
626,688 484,255

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.25 31.1.24
£    £   
Within one year 113,098 107,094
Between one and five years 215,009 302,092
328,107 409,186

TKC Sales Limited (Registered number: 03853596)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

10. FINANCIAL INSTRUMENTS

Exposure to foreign currency, credit, liquidity and cash flow interest rate risks arise in the company's normal course of business. These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company has limited exposure to foreign currency risk. Substantially all of the company's sales are denominated in sterling. The company's purchases are however denominated in foreign currencies. The company enters into forward foreign currency contracts to mitigate the exchange rate risk for certain foreign currency payables. At 31 January 2025 the outstanding contracts all mature within 12 months of the year end. The company is committed to buy USD1,250,000 and pay fixed sterling amounts of £946,237.

The forward currency contracts are measured at fair value, which is determined using valuation techniques that utilise observable inputs. The key inputs used in valuing the derivatives are forward exchange rates for GBP:USD. The fair value gain of the forward currency contracts in the period amounts to £59,483.

Credit risk
The company is at risk from its customers defaulting in making payments for goods that have been supplied to them. The majority of the company's customers are small, with no reliance on one customer.

To minimise the risk the company has a policy of dealing with customers who have either demonstrated credit worthiness or can provide sufficient collateral. To determine creditworthiness the company makes use of independent rating agencies, other publicly available financial information and its own trading records. The company's exposure and its customer creditworthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves, banking facilities and reserve borrowing facilities. They do this by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities.

Cash flow interest rate risk
The company is exposed to interest rate risk through the impact of rate changes on interest-bearing borrowings. The company's policy is to obtain the most favourable interest rates available for its borrowings.

The company has no significant other interest-bearing assets and liabilities. The company does not use any derivative instruments to reduce its economic exposure to changes in interest rates.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Davis FCA (Senior Statutory Auditor)
for and on behalf of Mander Duffill

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TKC Sales Limited (Registered number: 03853596)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is TKC Sales Trustees Limited.

The ultimate parent company is TKC Sales Newco Limited. The financial statements of TKC Sales Newco Limited are available from the company's registered office.