TPNA Holdings Limited - Period Ending 2021-01-31

TPNA Holdings Limited

Contents

Accountants' Report	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	4

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
TPNA Holdings Limited
for the Period Ended 31 January 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TPNA Holdings Limited for the period ended 31 January 2021 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of TPNA Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 3 September 2021. Our work has been undertaken solely to prepare for your approval the accounts of TPNA Holdings Limited and state those matters that we have agreed to state to the Board of Directors of TPNA Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TPNA Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that TPNA Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of TPNA Holdings Limited. You consider that TPNA Holdings Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of TPNA Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

22 March 2022

TPNA Holdings Limited

(Registration number: 12383856)
Balance Sheet as at 31 January 2021

	Note	31 January 2021 £
Fixed assets
Investments	4	1,754,571
Current assets
Debtors	5	4
Creditors: Amounts falling due within one year	6	(1,639,888)
Net current liabilities		(1,639,884)
Total assets less current liabilities		114,687
Creditors: Amounts falling due after more than one year	6	(114,683)
Net assets		4
Capital and reserves
Allotted, called up and fully paid share capital		4
Total equity		4

TPNA Holdings Limited

(Registration number: 12383856)
Balance Sheet as at 31 January 2021 (continued)

For the financial period ending 31 January 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 March 2022 and signed on its behalf by:
 

.........................................

E J Stobart

Director

TPNA Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 2 January 2020 to 31 January 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Griffin House
Lyncastle Way
Barley Castle Trading Estate
Appleton
WARRINGTON
WA4 4ST

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

TPNA Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 2 January 2020 to 31 January 2021 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1.

4	Investments

	31 January 2021 £
Investments in subsidiaries	1,754,571

Subsidiaries	£
Cost or valuation
Additions	1,754,571
At 31 January 2021	1,754,571
Provision
Carrying amount
At 31 January 2021	1,754,571

5

Debtors

	31 January 2021 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	4
	4

TPNA Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 2 January 2020 to 31 January 2021 (continued)

6

Creditors

	Note	31 January 2021 £
Due within one year
Loans and borrowings	7	80,952
Amounts owed to group undertakings and undertakings in which the company has a participating interest		1,558,936
		1,639,888
Due after one year
Loans and borrowings	7	114,683

7	Loans and borrowings

	31 January 2021 £
Current loans and borrowings
Other borrowings	80,952

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

	31 January 2021 £
Other borrowings	80,952

Other borrowings are secured by a fixed charge over all of the shares in the share capital of PE Logistics Limited.

	31 January 2021 £
Non-current loans and borrowings
Other borrowings	114,683

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

	31 January 2021 £
Other borrowings	114,683

TPNA Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 2 January 2020 to 31 January 2021 (continued)

Other borrowings are secured by a fixed charge over all of the shares in the share capital of PE Logistics Limited.

8	Parent and ultimate parent undertaking

The company's immediate parent is TPNA Investments Limited, incorporated in England and Wales.

 The ultimate parent is WST Holdings Limited, incorporated in England and Wales.