TFC Dalston Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03735888 (England and Wales)

TFC Dalston Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2017

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr H Ucur

Mr E Ucur

SECRETARY:

Mr E Ucur

REGISTERED OFFICE:

Unit 1-8

Centenary Industrial Estate

Jeffreys Road

Enfield

Middlesex

EN3 7UF

REGISTERED NUMBER:

03735888 (England and Wales)

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

FIXED ASSETS

Property, plant and equipment

4

101,620

106,448

CURRENT ASSETS

Inventories

173,758

138,421

Debtors

839,931

823,393

Cash at bank and in hand

100,965

27,176

1,114,654

988,990

CREDITORS

Amounts falling due within one year

371,349

347,248

NET CURRENT ASSETS

743,305

641,742

TOTAL ASSETS LESS CURRENT
LIABILITIES

844,925

748,190

PROVISIONS FOR LIABILITIES

5

15,983

15,995

NET ASSETS

828,942

732,195

CAPITAL AND RESERVES

Called up share capital

6

4

Retained earnings

7

828,938

732,191

SHAREHOLDERS' FUNDS

828,942

732,195

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 December 2017 and were signed on its behalf
by:

Mr H Ucur - Director

1.	STATUTORY INFORMATION

TFC Dalston 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 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 under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover is recognised when the customer takes delivery of the goods and it is derived from the ordinary

activities of the business.

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

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Cost of stocks is valued using the first in first out stock valuation method. Net realisable value is the estimated

selling price less cost to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under

finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payment is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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.

Going concern

In the director's assessment of the company's ability to continue as a going concern, there are no material

uncertainties that may cast significant doubt on the company's ability to continue as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2016 - 32 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 April 2016

572,462

Additions

14,730

At 31 March 2017

587,192

DEPRECIATION

At 1 April 2016

466,014

Charge for year

19,558

At 31 March 2017

485,572

NET BOOK VALUE

At 31 March 2017

101,620

At 31 March 2016

106,448

5.	PROVISIONS FOR LIABILITIES

2017

2016

£

Deferred tax

15,983

15,995

Deferred

tax

£

Balance at 1 April 2016

15,995

Credit to Abridged Income Statement during year

(12

)

Balance at 31 March 2017

15,983

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

4

Ordinary

£1

4

7.

RESERVES

Retained

earnings

£

At 1 April 2016

732,191

Profit for the year

240,747

Dividends

(144,000

)

At 31 March 2017

828,938

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal ACA FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

9.	CONTINGENT LIABILITIES

A group refinance arrangement with the HSBC bank in June 2015, is secured by way of a fixed and floating

charge over all the assets of the company.

10.	RELATED PARTY DISCLOSURES

Ultimate parent company

TFC Holdings London Ltd is regarded by the director as being the company's ultimate parent company.

TFC Holdings London Ltd has 100% interest in the issued share capital of the company

The audit fees have been charged and disclosed in the accounts of TFC Holdings London Ltd, the parent

company of the group.

Copies of the consolidated financial statements of TFC Holdings London Ltd are available from Companies

House and the company's registered office.

Mr H Ucur

A director of the company.

Amount due to Mr H Ucur at the balance sheet date is £29,091 (2016 - £3,091).

Mr E Ucur

A director of the company.

Amount due to Mr H Ucur at the balance sheet date is £29,090 (2016 - £3,090).

TFC Camberwell Ltd.

Subsidiaries in the same group.

During the year, company invoiced TFC Camberwell Ltd £904 (2016 - £1,244) as expense re-charged. Inter

companies transactions during the year, at the balance sheet date, the amount due from TFC Camberwell Ltd

was £5,400 (2016 - £20,000).

TFC Burnt Oak Ltd

Subsidiaries in the same group.

Inter companies transactions during the year, at the balance sheet date, the amount due from TFC Burnt Oak

Ltd was nil (2016 - £2,770).

EDA Quality Foods Ltd

Subsidiaries in the same group.

Purchases of £630,009 (2016 - £751,760) were made from EDA Quality Foods Ltd during the year under

review.

The company was invoiced £31,400 (2016 - £23,687) by EDA Quality Foods Ltd as expense re-charged during

the year.

The company invoiced EDA Quality Foods Ltd £675 (2016 - £3,298) as expense re-charged during the year.

Inter companies transactions during the year, amount due to related party at the balance sheet date was £50,392

(2016 - £4,320).

Also included in creditors, an amount of £82,606 due to Eda Quality Foods Ltd at the balance sheet date.

TFC Leytonstone Ltd

Subsidiaries in the same group.

The company invoiced TFC Leytonstone Ltd £532 (2016 - £1,372) as expenses re-charged during the year.

Inter companies transactions during the year, amount due from related party at the balance sheet date £95,54

(2016 - £89,146).

TFC Waltham Cross Ltd

Subsidiaries in the same group.

The company invoiced TFC Waltham Cross Ltd £735 (2016 - £1,146) as expenses re-charged during the year.

Inter companies transactions during the year, amount due from related party at the balance sheet date £433,357

(2016 - £443,246).

TFC Croydon Ltd

Subsidiaries in the same group.

The company invoiced TFC Croydon Ltd £1,430 (2016- £1,226) as expenses re-charged during the year.

Inter companies transactions during the year, amount due from related party at the balance sheet date £52,400

(2016 - £6,000).

Also included in debtors, an amount of £1,410 due from TFC Croydon Ltd at the balance sheet date.

TFC Welling Ltd

Subsidiaries in the same group.

The company invoiced TFC Welling Ltd £363 (2016 - nil) as expenses re-charged during the year.

Inter companies transactions during the year, amount due from related party at the balance sheet date £26,370

(2016 - £26,370).

Also included in debtors, an amount of £1,455 due from TFC Welling Ltd at the balance sheet date.

Tees Ltd

Subsidiaries in the same group.

Purchases of £203,580 (2016 - £15,250) were made from Tees Ltd during the year under review.

Amount due to related party at the balance sheet date was nil (2016 - £482).

Also included in creditors, an amount of £1,239 due to Tees Ltd at the balance sheet date.

Esin Cash & Carry Ltd

Subsidiaries in the same group.

Purchases of £1,098,258 (2016 - £856,177) were made from Esin Cash & Carry Ltd during the year under

review.

The company invoiced Esin Cash & Carry Ltd £675 (2016 - nil) as expenses re-charged during the year.

Inter companies transactions during the year, amount due from related party at the balance sheet date £52,000

(2016 - £33,000).

Also included in debtors, an amount of £6.762 due from Esin Cash & Carry Ltd at the balance sheet date.

Fresh Star Fruit & Veg Ltd

Subsidiaries in the same group.

Purchases of nil (2016 - £332,957) were made from Fresh Star Fruit & Veg Ltd during the year under review.

Amount due from related party at the balance sheet date was nil (2016 - £942).

Prime Quality Foods London Ltd

Subsidiaries in the same group.

Purchases of £414,509 (2016 - £305,878) were made from Prime Quality Foods Ltd during the year under

review.

Amount due to related party at the balance sheet date was nil (2016 - £7,178).

Also included in creditors, an amount of £18,198 due to Prime Quality Foods London Ltd at the balance sheet

date.

Ucar Properties Ltd

Subsidiaries in the same group.

The company was invoiced nil (2016 - £45,000) by Ucar Properties Ltd as management services and £97,500

(2016 - £122,250) as rent for the use of its premises by Ucar Properties Ltd during the year.

The company invoiced Ucar Properties Ltd £1,248 (2016 - £4,869) as expense re-charged.

Inter companies transactions during the year, amount due from related party at the balance sheet date £55,400

(2016 - £29,400).

TFC Holdings London Ltd

Parent company.

The company was invoiced £57,000 (2016 - £10,500) by TFC Holdings London Ltd as management services

during the year. TFC Holdings London Ltd also invoiced the company £33,051 (2016 - £3,025) as expense

re-charged during the year.

During the year, dividend totalling £144,000 (2016 - £200,000) was paid to TFC Holdings London Ltd.

Inter companies transactions during the year, amount due from the TFC Holding London Ltd at the balance

sheet date was £13,669 (2016 - £76,963).

Also included in creditors, an amount of £18,448 due to TFC Holdings London Ltd at the balance sheet date.

TFC Dalston Limited - Accounts to registrar (filleted) - small 17.3

TFC Dalston Limited - Accounts to registrar (filleted) - small 17.3