TCB Hawick Ltd SC662530 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is other retail sale in non-specialised stores Digita Accounts Production Advanced 6.30.9574.0 true true SC662530 2023-06-01 2024-05-31 SC662530 2024-05-31 SC662530 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-05-31 SC662530 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC662530 core:ShareCapital 2024-05-31 SC662530 core:CurrentFinancialInstruments 2024-05-31 SC662530 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 SC662530 core:Non-currentFinancialInstruments 2024-05-31 SC662530 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 SC662530 core:FurnitureFittingsToolsEquipment 2024-05-31 SC662530 core:LandBuildings 2024-05-31 SC662530 bus:SmallEntities 2023-06-01 2024-05-31 SC662530 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC662530 bus:FilletedAccounts 2023-06-01 2024-05-31 SC662530 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC662530 bus:RegisteredOffice 2023-06-01 2024-05-31 SC662530 bus:Director1 2023-06-01 2024-05-31 SC662530 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-01 2024-05-31 SC662530 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC662530 bus:Agent1 2023-06-01 2024-05-31 SC662530 core:FurnitureFittings 2023-06-01 2024-05-31 SC662530 core:LandBuildings 2023-06-01 2024-05-31 SC662530 countries:Scotland 2023-06-01 2024-05-31 SC662530 2023-05-31 SC662530 core:FurnitureFittingsToolsEquipment 2023-05-31 SC662530 core:LandBuildings 2023-05-31 SC662530 2022-06-01 2023-05-31 SC662530 2023-05-31 SC662530 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-05-31 SC662530 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC662530 core:ShareCapital 2023-05-31 SC662530 core:CurrentFinancialInstruments 2023-05-31 SC662530 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 SC662530 core:Non-currentFinancialInstruments 2023-05-31 SC662530 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 SC662530 core:FurnitureFittingsToolsEquipment 2023-05-31 SC662530 core:LandBuildings 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC662530

TCB Hawick Ltd

trading as One Stop Shop

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

TCB Hawick Ltd

trading as One Stop Shop

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

TCB Hawick Ltd

trading as One Stop Shop

Company Information

Director

Mr K M Johnson

Registered office

27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

Accountants

Deans Accountants And Business Advisors Ltd 27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

TCB Hawick Ltd

trading as One Stop Shop

(Registration number: SC662530)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

149,108

149,108

Current assets

 

Stocks

5

94,000

48,963

Debtors

6

7,957

3,938

Cash at bank and in hand

 

19,085

32,521

 

121,042

85,422

Creditors: Amounts falling due within one year

7

(236,025)

(233,830)

Net current liabilities

 

(114,983)

(148,408)

Total assets less current liabilities

 

34,125

700

Creditors: Amounts falling due after more than one year

7

(58,234)

(58,232)

Net liabilities

 

(24,109)

(57,532)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(24,209)

(57,632)

Shareholders' deficit

 

(24,109)

(57,532)

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 May 2025
 

.........................................
Mr K M Johnson
Director

 

TCB Hawick Ltd

trading as One Stop Shop

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD
United Kingdom

The principal place of business is:
53A High Street
Hawick
TD9 9BP

These financial statements were authorised for issue by the director on 22 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company is not directly impacted by Brexit.

The accounts are presented in £GBP and are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis, which assumes the continuing support of the company's director and shareholder. At the year end, the company has net liabilities of £24,109.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

Not depreciated

Fixtures and fittings

15% straight line

 

TCB Hawick Ltd

trading as One Stop Shop

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

TCB Hawick Ltd

trading as One Stop Shop

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 9).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

149,108

500

149,608

At 31 May 2024

149,108

500

149,608

Depreciation

At 1 June 2023

-

500

500

At 31 May 2024

-

500

500

Carrying amount

At 31 May 2024

149,108

-

149,108

At 31 May 2023

149,108

-

149,108

Included within the net book value of land and buildings above is £149,108 (2023 - £149,108) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

94,000

48,963

6

Debtors

Current

2024
£

2023
£

Trade debtors

7,121

-

Prepayments

-

3,938

Other debtors

836

-

 

7,957

3,938

 

TCB Hawick Ltd

trading as One Stop Shop

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

20,750

20,750

Trade creditors

 

65,839

60,044

Taxation and social security

 

1,904

4,851

Accruals and deferred income

 

15,833

14,587

Other creditors

 

131,699

133,598

 

236,025

233,830

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

58,234

58,232

Creditors include bank loans and overdrafts and net obligations under a mortgage which are secured of £58,232 (2023 - £58,232).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

58,234

58,232

Current loans and borrowings

2024
£

2023
£

Bank borrowings

20,750

20,750