TGC 2 Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC523196 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026

FOR

TGC 2 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A A Cochrane

SECRETARY:

D L Parfitt

REGISTERED OFFICE:

C/o Sms Payroll, India Of Inchinnan

Grenock Road

Renfrew

PA4 9LH

REGISTERED NUMBER:

SC523196 (Scotland)

ACCOUNTANTS:

Burnside

Chartered Accountants

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Tangible assets

4

26,396

45,250

CURRENT ASSETS

Debtors

5

12,031

60,270

Cash at bank

490

24,802

12,521

85,072

CREDITORS

Amounts falling due within one year

6

10,293

136,990

NET CURRENT ASSETS/(LIABILITIES)

2,228

(51,918

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

28,624

(6,668

)

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

28,524

(6,768

)

SHAREHOLDERS' FUNDS

28,624

(6,668

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 May 2026 and were signed by:

A A Cochrane - Director

1.	STATUTORY INFORMATION

TGC 2 Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

over the term of the lease

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company may not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Interest bearing bank loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the bank, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

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 that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The director has reviewed the going concern status of the business for the foreseeable future and fully expects that the company will remain a going concern and will have sufficient working capital to meet its requirements for the foreseeable future. The director therefore continues to adopt the going concern basis of accounting in preparing these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 March 2025

and 28 February 2026

45,250

DEPRECIATION

Charge for year

4,114

Impairments

14,740

At 28 February 2026

18,854

NET BOOK VALUE

At 28 February 2026

26,396

At 28 February 2025

45,250

The director has reviewed the fair value of land and buildings as of 28 February 2026 and as a result of this review an impairment loss of £14,740 was recognised.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Amounts owed by related parties

9,600

37,869

Other debtors

514

-

VAT

1,382

1,183

Prepayments and accrued income

535

21,218

12,031

60,270

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Amounts owed to related parties

-

113,285

Social security and other taxes

-

816

Other creditors

1,758

-

Accruals and deferred income

8,535

22,889

10,293

136,990

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

Within one year

80,004

Between one and five years

320,016

In more than five years

471,476

551,480

871,496

951,500

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

100

Ordinary

£1

100

9.	RELATED PARTY DISCLOSURES

On 19 August 2024 100% shares of the company were transferred from TGC Holdings Limited, a company registered in Scotland, to the company's director, and from this date the company ceased being a subsidiary of TGC Holdings Limited.

The company's results until 19 August 2024 were reported within the consolidated financial statements of TGC Holdings Limited and these are freely available from Companies House. The registered office of TGC Holdings Limited is 78-84 Bell Street, Dundee, DD1 1HN.

After 19 August 2024 the company was controlled by its director A A Cochrane.

TGC Holdings Limited and other companies that used to be subsidiaries of TGC Holdings group continue to remain companies under common control in relation to TGC 2 Limited as of 28 February 2026.

During the year ending 28 February 2026 the company provided services to TGC Leisure Limited, a company under common control, of £245,714 (2025 - £116,928). As of 28 February 2026 the company was owed £9,600 by TGC Leisure Limited (2025 - £37,869). The balances are not secured, are due on demand and do not bear any interest.

As of 28 February 2026 the company owed £Nil to TGC Holdings Limited (2025 - £113,285). The balance is not secured, is due on demand and does not bear any interest.