TFG Capital Limited - Accounts to registrar (filleted) - small 18.2

TFG Capital Limited - Accounts to registrar (filleted) - small 18.2

TFG CAPITAL LIMITED - Company Information

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REGISTERED NUMBER: 09167389 (England and Wales)















TFG CAPITAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2021






TFG CAPITAL LIMITED (REGISTERED NUMBER: 09167389)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TFG CAPITAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2021







DIRECTORS: M W S Ashton
J R Mortimore





REGISTERED OFFICE: 17 Jetstream Drive
Doncaster
South Yorkshire
DN9 3QS





REGISTERED NUMBER: 09167389 (England and Wales)





Page 1
TFG CAPITAL LIMITED (REGISTERED NUMBER: 09167389)

ABRIDGED BALANCE SHEET
31 AUGUST 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,364 13,447
Investments 5 200 200
15,564 13,647

CURRENT ASSETS
Debtors 4,001,652 2,297,037
Cash at bank and in hand 579,610 845,504
4,581,262 3,142,541
CREDITORS
Amounts falling due within one year 1,376,116 918,292
NET CURRENT ASSETS 3,205,146 2,224,249
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,220,710
2,237,896

CREDITORS
Amounts falling due after more than one
year
6
(507,130
)
(47,500
)

PROVISIONS FOR LIABILITIES (2,767 ) (2,369 )
NET ASSETS 2,710,813 2,188,027

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,710,713 2,187,927
SHAREHOLDERS' FUNDS 2,710,813 2,188,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these financial statements

Page 2 continued...
TFG CAPITAL LIMITED (REGISTERED NUMBER: 09167389)

ABRIDGED BALANCE SHEET - continued
31 AUGUST 2021


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 31 May 2022 and were signed on its behalf by:





J R Mortimore - Director


The notes form part of these financial statements

Page 3
TFG CAPITAL LIMITED (REGISTERED NUMBER: 09167389)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021


1. STATUTORY INFORMATION

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

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.

Preparation of consolidated financial statements
The financial statements contain information about TFG Capital 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.

Turnover
Turnover represents amounts receivable in respect of arrangement fees, commissions and interest received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and Straight line over 3 years

Government grants
Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Page 4 continued...
TFG CAPITAL LIMITED (REGISTERED NUMBER: 09167389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2020 40,087
Additions 11,638
At 31 August 2021 51,725
DEPRECIATION
At 1 September 2020 26,640
Charge for year 9,721
At 31 August 2021 36,361
NET BOOK VALUE
At 31 August 2021 15,364
At 31 August 2020 13,447

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 September 2020
and 31 August 2021 200
NET BOOK VALUE
At 31 August 2021 200
At 31 August 2020 200

Page 5 continued...
TFG CAPITAL LIMITED (REGISTERED NUMBER: 09167389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021


5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

TFG Capital No.2 Limited
Registered office: 17 Jetstream Drive, Doncaster, DN9 3QS
Nature of business: Fund managers
%
Class of shares: holding
Ordinary 100.00

TFG Capital No.3 Limited
Registered office: 17 Jetstream Drive, Doncaster, DN9 3QS
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2021 2020
£    £   
Repayable by instalments
Bank loans more 5 yr by instal - 7,500

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year 4,320 945
Between one and five years 29,464 24,666
33,784 25,611

8. OTHER FINANCIAL COMMITMENTS

There is a cross-guarantee in place in respect of a bank loan with an associated company. This is secured by a fixed and floating charge on the assets of the company.

9. RELATED PARTY DISCLOSURES

Included in these financial statements are commissions received of £817,952 (2020-£356,582) from a subsidiary company, a Debtors balance of £636 (2020-£6,080) is owed by this company at the year end.

There is also a loan of £84,773 (2020-£414,039) owed by the subsidiary at the year end. This is interest free and repayable on demand.

Page 6 continued...
TFG CAPITAL LIMITED (REGISTERED NUMBER: 09167389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021


10. GOVERNMENT ASSISTANCE

During the year the company has taken out a bank loan under the Coronavirus Business Interruption Loan ("CBIL") scheme. The loan interest in the first 12 months is covered by HM Government by the Business Interruption payment. The amount recognised in the period in respect of this is £42,380 (2020- £nil). Amounts recognised are included in Other Income.

Last year the company took out a bank loan under the Bounce Back Loan scheme ("BBL") The loan interest in the first 12 months is covered by HM Government by the Business Interruption payment. The amount recognised in the period in respect of this is £521 (2020- £312). Amounts recognised are included in Other Income. During the year the company fully repaid this loan.

Page 7