TGS Holdings (UK) Limited - Period Ending 2024-12-31

Registration number: 08971682

TGS Holdings (UK) Limited

Annual Report and Filleted Abridged Financial Statements

for the Year Ended 31 December 2024

TGS Holdings (UK) Limited

Contents

Abridged Balance Sheet	1
Notes to the Abridged Financial Statements	2 to 6

TGS Holdings (UK) Limited

(Registration number: 08971682)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investment property		2,450,000	2,450,000
Investments	5	100	100
		2,450,100	2,450,100
Current assets
Debtors		2,802,625	2,183,873
Cash at bank and in hand		645,997	1,240,673
		3,448,622	3,424,546
Creditors: Amounts falling due within one year		(3,160,589)	(3,179,254)
Net current assets		288,033	245,292
Total assets less current liabilities		2,738,133	2,695,392
Creditors: Amounts falling due after more than one year		(1,767,000)	(1,767,000)
Provisions for liabilities		(167,999)	(167,382)
Net assets		803,134	761,010
Capital and reserves
Called up share capital		1,200	1,200
Other reserves		769,933	769,933
Profit and loss account		32,001	(10,123)
Total equity		803,134	761,010

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:

Mr J Smith

Director

TGS Holdings (UK) Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales (registered number 08971682).

The address of its registered office is:
Oakwood Park
Lodge Causeway
Fishponds
Bristol
BS16 3JA

These financial statements were authorised for issue by the Board on 15 December 2025.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have considered the company cash flow and are satisfied that the company is able to meet its financial liabilities as they fall due for the foreseeable future.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 15 December 2025 was Mr Duncan Nicholas FCA, who signed for and on behalf of Moore Scarrott Audit Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

TGS Holdings (UK) Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	5% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

TGS Holdings (UK) Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

4	Investment properties

	2024 £
At 1 January	2,450,000
At 31 December	2,450,000

The value of the investment properties are based on an independent valuation carried out in April 2023 by Andrew Forbes Chartered Surveyors. The director's believe this amount accurately reflects their value as at 31 December 2024.

5	Investments

	Total £
Cost or valuation
At 1 January 2024	100
Provision
Carrying amount
At 31 December 2024	100
At 31 December 2023	100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

TGS (UK) Limited

Oakwood Park,
Lodge Causeway,
Bristol,
England,
BS16 3JA

Ordinary

100%

Subsidiary undertakings

TGS (UK) Limited

The principal activity of TGS (UK) Limited is that of the conversion and fit-out of vehicles.

TGS Holdings (UK) Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

6	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

National Westminster Bank PLC has a fixed charge dated 29 August 2023 over the freehold Investment Property.

7	Related party transactions

Advances to directors

Mr T G Smith

During the period Mr T G Smith went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £75,634 (2023 - £72,771). At the year end the amount outstanding from Mr T G Smith was £Nil (2023 - £40,894). Interest has been charged at the commercial rate.

Mr N J Smith

During the period Mr N J Smith went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £358,141 (2023 - £284,037). At the year end the amount outstanding from Mr N J Smith was £335,716 (2023 - £284,037). Interest has been charged at the commercial rate.

Mr J Smith

During the period Mr J Smith went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £69,860 (2023 - £82,466). At the year end the amount outstanding from Mr J Smith was £2,417 (2023 - £18,035). Interest has been charged at the commercial rate.

Mr B M Smith

During the period Mr B M Smith went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £51,759 (2023 - £61,622). At the year end the amount outstanding from Mr B M Smith was £Nil (2023 - £7,328). Interest has been charged at the commercial rate.

Mr G Smith

During the period Mr G Smith went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £601,480 (2023 - £494,810). At the year end the amount outstanding from Mr G Smith was £525,354 (2023 - £404,582). Interest has been charged at the commercial rate.

Summary of transactions with other related parties

The company has taken advantage of the exemption available under Section 33 of FRS 102 Related Party Disclosures and has not disclosed transactions or balances with wholly-owned related parties that are part of the group. This is on the grounds that they are wholly-owned subsidiaries of Candleford Investments Limited, which prepares consolidated financial statements that are publicly available and include the results of the company. The consolidated financial statements of Candleford Investments Limited can be accessed online at Companies House.

TGS Holdings (UK) Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

8	Parent and ultimate parent undertaking

The company is a wholly-owned subsidiary of Candleford Investments Limited who are incorporated in England and Wales (registered number 14060933). Their registered office is Oakwood Park, Lodge Causeway, Fishponds, Bristol, England, BS16 3JA.

Candleford Investments Limited prepare consolidated financial statements. These are available upon request from the company’s registered office or are publicly available at Companies House.

The ultimate controlling parties are the Directors of Candleford Investments Limited.

9	Exemption from preparing group accounts

The company is exempt from the requirement to prepare consolidated financial statements under Section 400 of the Companies Act 2006 because it is a wholly owned subsidiary of Candleford Investments Limited, a company incorporated in England and Wales.

Consolidated financial statements are prepared by Candleford Investments Limited, and are available from its registered office at:
Oakwood Park
Lodge Causeway
Fishponds
Bristol
BS16 3JA