TP International Group Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09920147

TP International Group Limited

Filleted Unaudited Financial Statements

31 December 2024

TP International Group Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

TP International Group Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	6		91,491		103,889

Current assets

Stocks		225,772	211,175
Debtors	7	309,559	363,693
Cash at bank and in hand		72,876	72,887
		---------	---------
		608,207	647,755

Creditors: amounts falling due within one year	8	573,093		493,222
		---------		---------
Net current assets			35,114		154,533
			---------		---------
Total assets less current liabilities			126,605		258,422
			---------		---------
Net assets			126,605		258,422
			---------		---------

Capital and reserves

Called up share capital	9	1,000	1,000
Profit and loss account		125,605	257,422
		---------	---------
Shareholders funds		126,605	258,422
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

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

TP International Group Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 15 September 2025 , and are signed on behalf of the board by:

Mr M W Readman
Director

Company registration number: 09920147

TP International Group Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 12, 4 Cromar Way, Waterhouse Business Park, Chelmsford, Essex, CM1 2GL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	10% straight line
Equipment	-	20 % reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	4,000
	-------
Amortisation
At 1 January 2024 and 31 December 2024	4,000
	-------
Carrying amount
At 31 December 2024	–
	-------
At 31 December 2023	–
	-------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	85,729	32,310	118,039
	--------	--------	---------
Depreciation
At 1 January 2024	966	13,184	14,150
Charge for the year	8,573	3,825	12,398
	--------	--------	---------
At 31 December 2024	9,539	17,009	26,548
	--------	--------	---------
Carrying amount
At 31 December 2024	76,190	15,301	91,491
	--------	--------	---------
At 31 December 2023	84,763	19,126	103,889
	--------	--------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	266,810	316,816
Prepayments and accrued income	31,124	43,034
Corporation tax repayable	11,625	–
Other debtors	–	3,843
	---------	---------
	309,559	363,693
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	–	15,018
Trade creditors	333,912	429,463
Accruals and deferred income	100,115	7,128
Corporation tax	–	11,625
Social security and other taxes	20,305	6,316
Director loan accounts	118,680	23,672
Other creditors	81	–
	---------	---------
	573,093	493,222
	---------	---------

The bank overdraft is secured by fixed and floating legal charges over certain assets of the company.

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

10. Director's advances, credits and guarantees

At the year end the company owed Mr M W Readman £118,680 (2023: £23,672) by way of a directors loan account.

11. Related party transactions

The company operated from premises owned by a pension scheme of which the director is the sole beneficiary. Rent of £130,000 (2023 £35,000) was payable to the pension scheme during the year which includes an additional £95,000 rent included within accruals following a rent review and advice from the pension administrator regarding the rent compared to the market value for the previous 5 years.