TFS BUYING LIMITED

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Buzzacott Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence and to meet their obligations as they fall due for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements.”

Group structure

1. TFS BUYING LIMITED · parent
   1. TFS Stores Limited 100% · England and Wales · Ordinary
   2. TFS Stores 2 Limited 100% · England and Wales · Ordinary
   3. TFS Stores 3 Limited 100% · Ireland · Ordinary

Significant events

• “Revenue reduced by £2.7m due to the closure of a number of underperforming stores coupled with a difficult trading environment shaped by competitor discounting and a price sensitive consumer. There was a net 6 store decrease in the overall estate (6 new stores opened and 12 locations closed), and the Group was operating at year end from 216 locations in the UK.”
• “Works began on pick and pack automation with a £0.6M initial investment in order to drive efficiencies at the distribution centre in the future along with a further £1.2m investment into the website and the TFS app. There was also significant investment in the store estate and store refurbishment program as the group look to optimise the estate further.”
• “Following the period end the directors declared and paid a dividend of £10,000k.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.