TCT - EUROPE LIMITED


Directors	J F D Lidderdale
	S E Skinner


Company Secretary	Wymet Secretarial Services Limited


Registered Address	Mccallum Associates Castleblair Works
	Inglis Lane
	Dunfermline
	KY12 9DP


Registered Number	SC627134 (Scotland)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		3,152		2,595
			3,152		2,595
Current assets
Debtors	5	48,773		118,136
Cash at bank and on hand		23,403		26,569
		72,176		144,705
Creditors amounts falling due within one year	6	(130,187)		(235,477)
Net current assets (liabilities)			(58,011)		(90,772)
Total assets less current liabilities			(54,859)		(88,177)
Creditors amounts falling due after one year	7		(427,643)		(250,599)
Net assets			(482,502)		(338,776)
Capital and reserves
Called up share capital			1,000		1,000
Other reserves			-		178,939
Profit and loss account			(483,502)		(518,715)
Shareholders' funds			(482,502)		(338,776)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2025, and are signed on its behalf by:

S E Skinner
Director
Registered Company No. SC627134

TCT - EUROPE LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	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).

	Going concern
	The financial statements have been prepared on a going concern basis. The company is being supported by loans from its directors and parent company TCT Inc., who have given their assurances that the earliest date at which repayment of these loans would be sought is 30 June 2026. The position thereafter will be kept under review.

	Turnover policy
	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.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	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.

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.

	Current taxation
	Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Current taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity. 

Current or deferred taxation assets and liabilities are not discounted. 

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 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.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	25	-
Office Equipment	-	3

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	-	6,150	-	6,150
Additions	-	-	1,800	1,800
At 31 December 24	-	6,150	1,800	7,950
Depreciation and impairment
At 01 January 24	3,555	-	-	3,555
Charge for year	649	-	594	1,243
At 31 December 24	4,204	-	594	4,798
Net book value
At 31 December 24	(4,204)	6,150	1,206	3,152
At 31 December 23	(3,555)	6,150	-	2,595

4.	Stocks

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	40,295	84,329
Other debtors	8,478	33,807
Total	48,773	118,136

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	88,114	159,727
Bank borrowings and overdrafts	14,681	45,856
Taxation and social security	12,200	28,829
Accrued liabilities and deferred income	15,192	1,065
Total	130,187	235,477

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	427,643	250,599
Total	427,643	250,599

8.	Controlling party
	The controlling party is TCT Inc.