IRIS Accounts Production v25.1.4.42 09778500 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh097785002023-09-30097785002024-09-30097785002023-10-012024-09-30097785002022-09-30097785002022-10-012023-09-30097785002023-09-3009778500ns15:EnglandWales2023-10-012024-09-3009778500ns14:PoundSterling2023-10-012024-09-3009778500ns10:Director12023-10-012024-09-3009778500ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3009778500ns10:SmallEntities2023-10-012024-09-3009778500ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3009778500ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3009778500ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3009778500ns10:FullAccounts2023-10-012024-09-3009778500ns10:OrdinaryShareClass12023-10-012024-09-3009778500ns10:Director22023-10-012024-09-3009778500ns10:RegisteredOffice2023-10-012024-09-3009778500ns5:CurrentFinancialInstruments2024-09-3009778500ns5:CurrentFinancialInstruments2023-09-3009778500ns5:Non-currentFinancialInstruments2024-09-3009778500ns5:Non-currentFinancialInstruments2023-09-3009778500ns5:ShareCapital2024-09-3009778500ns5:ShareCapital2023-09-3009778500ns5:FurtherSpecificReserve3ComponentTotalEquity2024-09-3009778500ns5:FurtherSpecificReserve3ComponentTotalEquity2023-09-3009778500ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3009778500ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3009778500ns5:Secured2024-09-3009778500ns5:Secured2023-09-3009778500ns5:DeferredTaxation2023-09-3009778500ns5:DeferredTaxation2024-09-3009778500ns10:OrdinaryShareClass12024-09-30
REGISTERED NUMBER: 09778500 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

TLCP LIMITED

TLCP LIMITED (REGISTERED NUMBER: 09778500)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TLCP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: T R Cavanagh
L J Cavanagh





REGISTERED OFFICE: 17 Moor Park Avenue
Preston
Lancashire
PR1 6AS





REGISTERED NUMBER: 09778500 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

TLCP LIMITED (REGISTERED NUMBER: 09778500)

BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Investment property 4 5,057,408 5,050,000

CURRENT ASSETS
Debtors 5 6,393 62,371
Cash at bank 189,940 6,979
196,333 69,350
CREDITORS
Amounts falling due within one year 6 (1,199,982 ) (2,596,472 )
NET CURRENT LIABILITIES (1,003,649 ) (2,527,122 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,053,759 2,522,878

CREDITORS
Amounts falling due after more than
one year

7

(1,619,232

)

(1,391,976

)

PROVISIONS FOR LIABILITIES 9 (267,689 ) (267,689 )
NET ASSETS 2,166,838 863,213

CAPITAL AND RESERVES
Called up share capital 10 1 1
Fair value reserve 11 803,069 803,069
Retained earnings 11 1,363,768 60,143
SHAREHOLDERS' FUNDS 2,166,838 863,213

TLCP LIMITED (REGISTERED NUMBER: 09778500)

BALANCE SHEET - continued
30TH SEPTEMBER 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd June 2025 and were signed on its behalf by:





T R Cavanagh - Director


TLCP LIMITED (REGISTERED NUMBER: 09778500)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

TLCP 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TLCP LIMITED (REGISTERED NUMBER: 09778500)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

TLCP LIMITED (REGISTERED NUMBER: 09778500)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 5,050,000
Additions 7,408
At 30th September 2024 5,057,408
NET BOOK VALUE
At 30th September 2024 5,057,408
At 30th September 2023 5,050,000

Investment properties held on 30th September 2024 were valued by the directors at that date on the basis of open market value. These properties had an original cost of £4,222,244 (2023: £4,214,836) and a valuation of £5,050,000 (2023: £5,050,000).

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2022 (235,594 )
Valuation in 2023 1,070,758
Cost 4,222,244
5,057,408

If investment properties had not been revalued they would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 4,222,244 4,214,836

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 6,300 62,280
Other debtors 93 91
6,393 62,371

TLCP LIMITED (REGISTERED NUMBER: 09778500)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 139,670 450,884
Trade creditors - 2,929
Taxation and social security 12,214 17,769
Other creditors 1,048,098 2,124,890
1,199,982 2,596,472

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 1,619,232 1,391,976

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 25,229 1,162,234

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 1,758,902 1,842,860

The following security is held by National Westminster Bank Plc:

Fixed charge over the property known as Heyes Barn dated 28th March 2018.
Fixed and floating charges over all assets of the company dated 22nd March 2018.
Fixed charge over the properties known as 39 Fairfield Street and 41-43 Fairfield Street dated
11th June 2019.
Fixed charge over the property known as Unit 2 Willow Court dated 3rd February 2020.
Fixed charge over the property known as 141B and 145-147 Hart Street dated 9th December 2022.

9. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax
Investment property gains 267,689 267,689

TLCP LIMITED (REGISTERED NUMBER: 09778500)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st October 2023 267,689
Balance at 30th September 2024 267,689

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st October 2023 60,143 803,069 863,212
Profit for the year 1,303,625 1,303,625
At 30th September 2024 1,363,768 803,069 2,166,837

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Cavanagh Property Holdings Limited for which group financial statements are drawn up. The company is registered in England and Wales.

Messrs T & L Cavanagh, directors of the company, hold 50% each of the share capital of the parent company.