TVC Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04985014 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

TVC HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A M Findlay

REGISTERED OFFICE:

Unit 5a

Bridgewater Close

Reading

Berkshire

RG30 1JT

REGISTERED NUMBER:

04985014 (England and Wales)

FIXED ASSETS

Investments

4

485,740

485,740

CREDITORS

Amounts falling due within one year

5

18,300

17,515

NET CURRENT LIABILITIES

(18,300

)

(17,515

)

TOTAL ASSETS LESS CURRENT LIABILITIES

467,440

468,225

CREDITORS

Amounts falling due after more than one year

6

252,340

267,879

NET ASSETS

215,100

200,346

CAPITAL AND RESERVES

Called up share capital

2

2

Share premium

119,999

119,999

Retained earnings

95,099

80,345

SHAREHOLDERS' FUNDS

215,100

200,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 December 2020 and were signed by:

A M Findlay - Director

1.	STATUTORY INFORMATION

TVC Holdings Limited is a private company incorporated in England and Wales and has its registered office and principal place of business at Unit 5a Bridgewater Close, Reading, Berkshire, RG30 1JT.

The principal activity of the company is that of a holding company.

The financial statements are presented in Sterling, which is also the functional currency of the company.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about TVC Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are stated at cost less accumulated impairment losses.

Investments in unlisted company shares are initially recognised at cost and subsequently remeasured to fair value at each balance sheet date. Gains and losses arising on remeasurement are charged to profit and loss. Where the investment cannot be remeasured to fair value it is carried at cost less accumulated impairment losses.

Financial assets and liabilities

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Loans payable are measured initially at fair value, net of transaction costs, and non-current loans payable are subsequently remeasured to amortised cost using the effective interest method.

Taxation

Tax on profit represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the year.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities and the corresponding tax bases used to compute taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for temporary differences to the extent that it is probable that taxable profits will be available to utilise the timing difference.

Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period the liability is settled or the asset realised. The measurement of deferred tax liabilities and assets reflects the tax consequences in which the company expects to recover or settle the underlying amount of its assets and liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2019

and 30 April 2020

485,740

NET BOOK VALUE

At 30 April 2020

485,740

At 30 April 2019

485,740

The company's investments at the Balance Sheet date comprises of 100% of the issued share capital of Thames Valley Cleaning Limited, whose business is that of a cleaning contractor.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts

17,365

16,468

Other creditors

935

1,047

18,300

17,515

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans

252,340

267,879

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.20

30.4.19

£

£

Bank loans

269,705

284,347

The bank loan is secured by a cross guarantee and debenture, supported by a legal charge over freehold property held by a subsidiary undertaking, and a personal personal guarantee of the director for £55,000.