Caseware UK (AP4) 2016.0.208 2016.0.208 2018-03-312018-03-31falseBuying and seling of own real estate and renting and operating of Housing association real estateThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2017-04-01false 04632402 2017-04-01 2018-03-31 04632402 2016-04-01 2017-03-31 04632402 2018-03-31 04632402 2017-03-31 04632402 c:Director1 2017-04-01 2018-03-31 04632402 d:PlantMachinery 2017-04-01 2018-03-31 04632402 d:PlantMachinery 2018-03-31 04632402 d:PlantMachinery 2017-03-31 04632402 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 04632402 d:FurnitureFittings 2017-04-01 2018-03-31 04632402 d:LeaseholdInvestmentProperty 2017-04-01 2018-03-31 04632402 d:LeaseholdInvestmentProperty 2018-03-31 04632402 d:LeaseholdInvestmentProperty 2017-03-31 04632402 d:CurrentFinancialInstruments 2018-03-31 04632402 d:CurrentFinancialInstruments 2017-03-31 04632402 d:Non-currentFinancialInstruments 2018-03-31 04632402 d:Non-currentFinancialInstruments 2017-03-31 04632402 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 04632402 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 04632402 d:Non-currentFinancialInstruments d:AfterOneYear 2018-03-31 04632402 d:Non-currentFinancialInstruments d:AfterOneYear 2017-03-31 04632402 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2018-03-31 04632402 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2017-03-31 04632402 d:ShareCapital 2018-03-31 04632402 d:ShareCapital 2017-03-31 04632402 d:RetainedEarningsAccumulatedLosses 2017-03-31 04632402 d:OtherDeferredTax 2018-03-31 04632402 d:OtherDeferredTax 2017-03-31 04632402 c:FRS102 2017-04-01 2018-03-31 04632402 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 04632402 c:FullAccounts 2017-04-01 2018-03-31 04632402 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 04632402 d:EntityControlledByKeyManagementPersonnel1 2017-04-01 2018-03-31 04632402 d:EntityControlledByKeyManagementPersonnel1 2018-03-31 iso4217:GBP xbrli:pure

Registered number: 04632402









TREEBOND LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

 
TREEBOND LIMITED
REGISTERED NUMBER: 04632402

BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,994
-

Investment property
 5 
14,005,857
13,028,316

  
14,010,851
13,028,316

Current assets
  

Debtors: amounts falling due within one year
 6 
857,469
798,714

Cash at bank and in hand
 7 
311,303
163,164

  
1,168,772
961,878

Creditors: amounts falling due within one year
 8 
(749,004)
(993,362)

Net current assets/(liabilities)
  
 
 
419,768
 
 
(31,484)

Total assets less current liabilities
  
14,430,619
12,996,832

Creditors: amounts falling due after more than one year
 9 
(6,525,078)
(5,559,697)

Provisions for liabilities
  

Deferred tax
 11 
(549,012)
(634,068)

  
 
 
(549,012)
 
 
(634,068)

Net assets
  
7,356,529
6,803,067


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
7,356,528
6,803,066

  
7,356,529
6,803,067


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

Page 1

 
TREEBOND LIMITED
REGISTERED NUMBER: 04632402
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J D McGowan
Director

Date: 7 November 2018

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TREEBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

Treebond Limited is a company limited by shares incorporated in England and Wales within the United Kingdom.  The address of the registered offfice is First Floor, Radius House, 51 Clarendon Road, Watford, WD17 1HP.  
The principal activity of the company was that of property development.
The significant accounting policies applied in preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
TREEBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
TREEBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
straight line
Fixtures and fittings
-
15%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
TREEBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2017 - 5).

Page 6

 
TREEBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 April 2017
954


Additions
5,875



At 31 March 2018

6,829



Depreciation


At 1 April 2017
954


Charge for the year on owned assets
881



At 31 March 2018

1,835



Net book value



At 31 March 2018
4,994



At 31 March 2017
-


5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 April 2017
13,028,316


Additions at cost
977,541



At 31 March 2018
14,005,857

The 2018 valuations were made by the director, on an open market value for existing use basis.






Page 7

 
TREEBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

6.


Debtors

2018
2017
£
£


Trade debtors
34,795
6,495

Amounts owed by group undertakings
735,027
720,393

Other debtors
87,647
71,826

857,469
798,714



7.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
311,303
163,164

311,303
163,164



8.


Creditors: Amounts falling due within one year

2018
2017
£
£

Bank loans
231,423
489,867

Trade creditors
80,729
16,886

Corporation tax
92,404
128,896

Other taxation and social security
1,330
-

Other creditors
276,509
305,805

Accruals and deferred income
66,609
51,908

749,004
993,362



9.


Creditors: Amounts falling due after more than one year

2018
2017
£
£

Bank loans
6,525,078
5,559,697

6,525,078
5,559,697


Page 8

 
TREEBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

10.


Loans


Analysis of the maturity of loans is given below:


2018
2017
£
£

Amounts falling due within one year

Bank loans
231,423
489,867


231,423
489,867



Amounts falling due after more than 5 years

Bank loans
6,525,078
5,559,697

6,525,078
5,559,697

6,756,501
6,049,564



11.


Deferred taxation




2018


£






At beginning of year
(634,068)


Charged to profit or loss
85,056



At end of year
(549,012)

2018
2017
£
£


On revaluation of investment properties
(549,013)
(634,068)

(549,013)
(634,068)


12.


Related party transactions

At the balance sheet date the company was owed £579,219 (2017: £780,058) by entities under common control.

Page 9

 
TREEBOND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

13.


Controlling party

The company is controlled by JDM Investments Limited, its parent company.

 
Page 10