TCNCAP LTD


Directors	HARBINSON, Kyle
	LOVE, Christopher Stuart
	MCGREGOR, Neil James
	QUINTON, Thomas


Registered Address	Independence House
	Queen Street
	Worcester
	WR1 2PL


Registered Number	15296095 (England and Wales)

Balance Sheet as at
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		3,113		2,577
Investments	5		207		135
			3,320		2,712
Current assets
Debtors		334,717		201,968
Cash at bank and on hand		81,846		21,765
		416,563		223,733
Creditors amounts falling due within one year	6	(123,113)		(28,906)
Net current assets (liabilities)			293,450		194,827
Total assets less current liabilities			296,770		197,539
Creditors amounts falling due after one year	7		(494,388)		(420,908)
Provisions for liabilities	8		(778)		(644)
Net assets			(198,396)		(224,013)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(198,496)		(224,113)
Shareholders' funds			(198,396)		(224,013)

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 19 August 2026, and are signed on its behalf by:

MCGREGOR, Neil James
Director
Registered Company No. 15296095

TCNCAP LTD

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	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).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

	Revenue from rendering of services
	Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Dividend income
	Dividend income is recognised when the right to receive payment is established.

	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 recognised at the rate of exchange ruling at the date of the transaction. All realised exchange differences are charged to profit or loss.

	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. Depreciation is calculated so as to write off the cost of an asset over the useful economic life of the respective asset as follows:


		Straight line (years)
	Office Equipment	3

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.

	Trade and other 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.

Trade and other 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.

	Trade and other 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.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	2		2

3.	Deferred tax
	The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 April 25	3,696	3,696
Additions	2,199	2,199
At 31 March 26	5,895	5,895
Depreciation and impairment
At 01 April 25	1,119	1,119
Charge for year	1,663	1,663
At 31 March 26	2,782	2,782
Net book value
At 31 March 26	3,113	3,113
At 31 March 25	2,577	2,577

5.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 25	135	135
Additions	72	72
At 31 March 26	207	207
Net book value
At 31 March 26	207	207
At 31 March 25	135	135

	Notes
	¹Investments in group undertakings and participating interests

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	95,041	11,127
Taxation and social security	28,072	17,779
Total	123,113	28,906

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Other creditors	494,388	420,908
Total	494,388	420,908

8.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	778	644
Total	778	644