Company No: 11369686 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Statement of Changes in Equity
• Notes to the Financial Statements

DIRECTORS	Mr J A Rycroft
	Mr C A Rycroft
	Mr M A Rycroft

SECRETARY

Mr J A Rycroft

REGISTERED OFFICE	Vida Court
	Beckwith Head Road
	Harrogate
	England
	HG3 1RB
	United Kingdom

COMPANY NUMBER

11369686 (England and Wales)

CHARTERED ACCOUNTANTS	Murray Harcourt Partners LLP
	6 Queen Street
	Leeds
	LS1 2TW

	Note	2021		2020
		£		£
Current assets
Debtors	3	439,252		257,075
Investments	4	9,996,950		6,909,049
Cash at bank and in hand		163		100
		10,436,365		7,166,224
Creditors
Amounts falling due within one year	5	( 510,923)		( 305,059)
Net current assets		9,925,442		6,861,165
Total assets less current liabilities		9,925,442		6,861,165
Net assets		9,925,442		6,861,165
Capital and reserves
Called-up share capital	6	9,469,419		6,607,137
Profit and loss account		456,023		254,028
Total shareholder's funds		9,925,442		6,861,165

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of TRG UK Capital Limited (registered number: 11369686) were approved and authorised for issue by the Board of Directors on 23 June 2022. They were signed on its behalf by:

Mr C A Rycroft Director

	Called-up share capital		Profit and loss account		Total
	£		£		£
At 01 January 2020	6,607,137		117,106		6,724,243
Profit for the financial year	0		136,922		136,922
Total comprehensive income	0		136,922		136,922
At 31 December 2020	6,607,137		254,028		6,861,165
At 01 January 2021	6,607,137		254,028		6,861,165
Profit for the financial year	0		201,995		201,995
Total comprehensive income	0		201,995		201,995
Issue of share capital	2,862,282		0		2,862,282
At 31 December 2021	9,469,419		456,023		9,925,442

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TRG UK Capital Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Vida Court, Beckwith Head Road, Harrogate, England, HG3 1RB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Current asset investments

Loans are initially measured at fair value and carried at their amortised cost. Interest receivable on the loans are based on the carrying amount of the asset multiplied by the effective rate of interest.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Debtors

	2021		2020
	£		£
Amounts owed by Group undertakings (note 7)	201,649		192,075
Amounts owed by related parties (note 7)	172,603		0
Other debtors	65,000		65,000
	439,252		257,075

4. Current asset investments

	2021		2020
	£		£
Financial assets - loans	9,996,950		7,081,775

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Amounts owed to related parties (note 7)	212,325		257,325
Other creditors	260,000		0
Corporation tax	38,598		47,734
	510,923		305,059

6. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
9,469,419 Ordinary shares of £ 1.00 each (2020: 6,607,137 shares of £ 1.00 each)	9,469,419		6,607,137

7. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

Transactions with related parties or connected persons

Amounts owed by related parties

	2021		2020
	£		£
Vida Healthcare Limited	172,603		0

The loan is interest free and repayable on demand.

Amounts owed to related parties

	2021		2020
	£		£
Vida Healthcare Limited	0		65,000
Vida Hall Limited	95,825		85,825
Vida Grange Limited	116,500		106,500
	212,325		257,325

The loans are interest free and repayable on demand.

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

	2021		2020
	£		£
Mr C A Rycroft	260,000		0

The loan is interest free and repayable on demand.

8. Ultimate controlling party

Parent Company:

Winston (UK) Limited , incorporated in England and Wales.

Vida Court, Beckwith Head Road, Harrogate, England, HG3 1RB.