| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| TLCP LIMITED |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| 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 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve | 11 |
| Retained earnings | 11 | 1,363,768 | 60,143 |
| SHAREHOLDERS' FUNDS |
| TLCP LIMITED (REGISTERED NUMBER: 09778500) |
| BALANCE SHEET - continued |
| 30TH SEPTEMBER 2024 |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 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 |
| 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 |
| Additions |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 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 |
| Other debtors |
| 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 |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Bank loans |
| 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 |
| 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 |
| Balance at 30th September 2024 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.9.24 | 30.9.23 |
| value: | £ | £ |
| 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. |