Company registration number 09838231 (England and Wales)
TCB DIRECT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
TCB DIRECT LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
TCB DIRECT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
5
2,532
2,825
Tangible assets
6
15,742
21,050
Investments
7
35,340
25,891
53,614
49,766
Current assets
Stocks
428,280
500,955
Debtors
8
289,284
371,111
Cash at bank and in hand
420,122
176,071
1,137,686
1,048,137
Creditors: amounts falling due within one year
9
(741,845)
(635,705)
Net current assets
395,841
412,432
Total assets less current liabilities
449,455
462,198
Creditors: amounts falling due after more than one year
10
(205,875)
-
Provisions for liabilities
(3,936)
(3,999)
Net assets
239,644
458,199
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
239,444
457,999
Total equity
239,644
458,199
TCB DIRECT LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 July 2025 and are signed on its behalf by:
J Edge
Director
Company registration number 09838231 (England and Wales)
TCB Direct Limited
TCB DIRECT LIMITED
Notes to the financial statements
for the year ended 31 October 2024
- 3 -
1
Accounting policies
Company information

TCB Direct Limited is a private company limited by shares incorporated in England and Wales. The registered office is Empire House, Mulcture Hall Road, Halifax, HX1 1SP.

Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax. Turnover is recognised on supply of goods to customer.

Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
10 year straight line basis
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance basis
Computers
33% reducing balance basis
Motor vehicles
25% reducing balance basis

 

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

TCB Direct Limited
TCB DIRECT LIMITED
Notes to the financial statements (CONTINUED)
for the year ended 31 October 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
12
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
6,534
Adjustments in respect of prior periods
(6,534)
36
Total current tax
(6,534)
6,570
Deferred tax
Origination and reversal of timing differences
(63)
(1,544)
Total tax (credit)/charge
(6,597)
5,026
TCB Direct Limited
TCB DIRECT LIMITED
Notes to the financial statements (CONTINUED)
for the year ended 31 October 2024
- 5 -
5
Intangible fixed assets
Patents & licences
£
Cost
At 1 November 2023 and 31 October 2024
2,933
Amortisation and impairment
At 1 November 2023
108
Amortisation charged for the year
293
At 31 October 2024
401
Carrying amount
At 31 October 2024
2,532
At 31 October 2023
2,825
6
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2023
35,401
21,956
5,500
62,857
Additions
598
-
0
-
0
598
At 31 October 2024
35,999
21,956
5,500
63,455
Depreciation and impairment
At 1 November 2023
22,114
15,009
4,684
41,807
Depreciation charged in the year
3,409
2,293
204
5,906
At 31 October 2024
25,523
17,302
4,888
47,713
Carrying amount
At 31 October 2024
10,476
4,654
612
15,742
At 31 October 2023
13,287
6,947
816
21,050
7
Fixed asset investments
2024
2023
£
£
Other investments other than loans
35,340
25,891
TCB Direct Limited
TCB DIRECT LIMITED
Notes to the financial statements (CONTINUED)
for the year ended 31 October 2024
7
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 November 2023
25,891
Valuation changes
9,449
At 31 October 2024
35,340
Carrying amount
At 31 October 2024
35,340
At 31 October 2023
25,891
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
155,710
251,459
Corporation tax recoverable
6,534
1,617
Prepayments and accrued income
127,040
118,035
289,284
371,111
9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
44,125
-
0
Trade creditors
264,531
485,055
Corporation tax
-
0
6,534
Other taxation and social security
346,377
74,243
Other creditors
41,500
17,770
Accruals and deferred income
45,312
52,103
741,845
635,705

The bank loan is secured.

10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
205,875
-
0

The bank loan is secured.

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