TPP Retail Ltd - Filleted accounts

TPP Retail Ltd
Registered number:		04910881
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		-			667
Tangible assets	4		186,275			136,603
Investments	5		969,532			990,944
			1,155,807			1,128,214

Current assets
Stocks		274,549			226,564
Debtors	6	1,292,264			1,840,577
Cash at bank and in hand		1,075,856			649,311
		2,642,669			2,716,452

Creditors: amounts falling due within one year	7	(2,052,452)			(2,204,043)

Net current assets			590,217			512,409

Total assets less current liabilities			1,746,024			1,640,623

Creditors: amounts falling due after more than one year	8		(101,570)			(248,830)



Net assets			1,644,454			1,391,793

Capital and reserves
Called up share capital			57			57
Capital redemption reserve	9		43			43
Profit and loss account			1,644,354			1,391,693

Shareholders' funds			1,644,454			1,391,793

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


J Ussher-Smith
Director
Approved by the board on 30 September 2025

TPP Retail Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			15% reducing balance method
	Fixtures, fittings, tools and equipment			15% reducing balance method
	Motor vehicles			25% reducing balance method

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					49		42


3	Intangible fixed assets
								Domain Name
£

	Cost
	At 1 January 2024							3,332
	At 31 December 2024							3,332

	Amortisation
	At 1 January 2024							2,665
	Provided during the year							667
	At 31 December 2024							3,332

	Net book value
	At 31 December 2024							-
	At 31 December 2023							667

	The intangible fixed asset is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 January 2024			26,339		269,643		295,982
	Additions			22,721		98,579		121,300
	Disposals			-		(94,881)		(94,881)
	At 31 December 2024			49,060		273,341		322,401

	Depreciation
	At 1 January 2024			11,790		147,589		159,379
	Charge for the year			5,590		38,462		44,052
	On disposals			-		(67,305)		(67,305)
	At 31 December 2024			17,380		118,746		136,126

	Net book value
	At 31 December 2024			31,680		154,595		186,275
	At 31 December 2023			14,549		122,054		136,603


5	Investments
Investments in
subsidiary					Other
undertakings					investments		Total
£					£		£
	Cost
	At 1 January 2024			990,944		-		990,944
	Additions			-		38,888		38,888
	Impairment of investments			(60,300)		-

	At 31 December 2024			930,644		38,888		969,532


6	Debtors					2024		2023
£							£

	Trade debtors					1,126,173		1,724,861
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					3,387		24,490
	Prepayments					117,340		46,226
	Section 455 tax charge repayment					45,000		45,000
	Other debtors					364		-
						1,292,264		1,840,577


7	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					60,000		60,000
	Obligations under finance lease and hire purchase contracts					29,809		44,049
	Trade creditors					1,325,841		1,382,359
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					301,629		167,435
	Corporation tax					42,922		240,098
	Other taxes and social security costs					185,982		233,165
	Deferred consideration on acquisition					100,138		203,125
	Director's loan account - JUS					961		(133,333)
	Accruals					4,350		4,150
	Other creditors					820		2,995
						2,052,452		2,204,043


8	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					37,093		111,291
	Obligations under finance lease and hire purchase contracts					-		29,614
	Warranties					64,477		67,300
	Deferred consideration on acquisition					-		40,625
						101,570		248,830

9	Capital redemption reserve					2024		2023
£							£

	At 1 January 2024					43		43

	At 31 December 2024					43		43


10	Investments in subsidiaries

	Previously, the company acquired 100% of the share capital of a subsidiary for cash consideration of £120,600. The consideration was based on the fair value of the subsidiary’s trade and customer relationships at the time of acquisition. Following the acquisition, the customers of the subsidiary progressively transitioned to contracting directly with the parent company. No formal business transfer agreement was executed; instead, the transfer occurred informally over a period of time. As a result, the subsidiary’s operations reduced significantly during the year, although a number of residual customer relationships remained at 31 December 2024. The directors have assessed the carrying value of the investment in the subsidiary at 31 December 2024 and determined that an impairment indicator exists due to the reduction in the subsidiary’s customer base. Based on the expected recoverable amount of the subsidiary, an impairment provision of £60,300 has been recognised in these financial statements, reducing the carrying value of the investment to £60,300. The remaining balance reflects the directors’ view that the residual contracts still held by the subsidiary at the reporting date represented continuing value. However, subsequent to the year-end, those contracts have transitioned to the parent company and the subsidiary has ceased to trade. The directors expect that the remaining carrying value of £60,300 will be impaired in full during the year ending 31 December 2025, at which point the subsidiary is expected to be formally wound up.


11	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	J R Ussher-Smith
	Balance repaid within 9 months of accounting period-end	133,333		1,623		134,956		-

		133,333		1,623		134,956		-


12	Related party transactions

	The amounts owed by group undertakings is comprised of one loan from TPP Retail Ltd to a subsidiary company. The loan to the subsidiary of £3,387 is repayable on demand and interest is not being charged by TPP Retail Ltd.
	The amounts owed to group undertakings is comprised of three cash balances advanced to TPP Retail Ltd by subsidiary companies. There is a cash balance of £101,494 from a subsidiary company, a cash balance of £185,116 from a separate subsidiary company and a cash balance of £15,019 from another subsidiary company. The cash balances were advanced to TPP Retail Ltd to pool the funds of the group. The amounts owed to group undertakings are repayable on demand and interest is not being charged to TPP Retail Ltd.
	TPP Retail Ltd made sales at cost during the year to a subsidiary company. The total value of the sales made at cost amounted to £468,710 (2023: £1,153,131) and is included within the company's turnover for the year ended 31 December 2024. During the year the Company provided administrative and management support services to its subsidiary undertakings. These services were performed by employees of the company. No recharge was made in respect of this support. At the balance sheet date, no amounts were receivable from the subsidiaries in respect of these services.
	TPP Retail Ltd received dividends from subsidiary companies amounting to £368,500 in the accounting period.

13	Controlling party

	The company is under the control of the director.


14	Other information

	TPP Retail Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 8 Killingbeck Drive
	Leeds
	England
	LS14 6UF