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REGISTERED NUMBER: 07305738 (England and Wales)









TRAVERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






TRAVERS LIMITED (REGISTERED NUMBER: 07305738)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRAVERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: Mrs A J Crabbe
Mr M J T Crabbe





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 07305738 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

TRAVERS LIMITED (REGISTERED NUMBER: 07305738)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 314 584
Investment property 5 2,235,000 2,169,943
2,235,314 2,170,527

CURRENT ASSETS
Debtors 6 3,268 3,645
Cash at bank 121,139 91,442
124,407 95,087
CREDITORS
Amounts falling due within one year 7 391,662 461,287
NET CURRENT LIABILITIES (267,255 ) (366,200 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,968,059

1,804,327

CREDITORS
Amounts falling due after more than one
year

8

(1,426,080

)

(1,353,487

)

PROVISIONS FOR LIABILITIES (66,620 ) (54,296 )
NET ASSETS 475,359 396,544

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 283,757 231,061
Retained earnings 191,600 165,481
SHAREHOLDERS' FUNDS 475,359 396,544

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

TRAVERS LIMITED (REGISTERED NUMBER: 07305738)

BALANCE SHEET - continued
31 MARCH 2022


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

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 and authorised for issue on 30 August 2022 and were signed on its behalf by:




Mr M J T Crabbe - Director



Mrs A J Crabbe - Director


TRAVERS LIMITED (REGISTERED NUMBER: 07305738)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Travers 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable during the period. Rental income is recognised on the basis of amounts due in the period.

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 - straight line over 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other 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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade 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

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 balance sheet date.


TRAVERS LIMITED (REGISTERED NUMBER: 07305738)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 114,914
Additions 180
Disposals (92,926 )
At 31 March 2022 22,168
DEPRECIATION
At 1 April 2021 114,330
Charge for year 450
Eliminated on disposal (92,926 )
At 31 March 2022 21,854
NET BOOK VALUE
At 31 March 2022 314
At 31 March 2021 584

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021 2,169,943
Revaluations 65,057
At 31 March 2022 2,235,000
NET BOOK VALUE
At 31 March 2022 2,235,000
At 31 March 2021 2,169,943

TRAVERS LIMITED (REGISTERED NUMBER: 07305738)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2022 is represented by:
£   
Valuation in 2017 96,480
Valuation in 2018 58,720
Valuation in 2019 130,061
Valuation in 2022 65,057
Cost 1,884,682
2,235,000

If investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 1,884,682 1,884,682

Investment property was valued on an open market basis basis on 31 March 2021 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 653 3,549
Other debtors 54 96
Prepayments 2,561 -
3,268 3,645

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 5,200
Trade creditors 1,016 527
Corporation tax 7,133 17,412
Directors' current accounts 374,294 430,845
Deferred income 7,542 6,165
Accrued expenses 1,677 1,138
391,662 461,287

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years - 5,452
Bank loans - 2-5 years - 17,991
Bank loans more 5 yr by instal - 966,669
Bank loans more 5 yrs non-inst 1,426,080 363,375
1,426,080 1,353,487

TRAVERS LIMITED (REGISTERED NUMBER: 07305738)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2022 2021
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,426,080 363,375

Repayable by instalments
Bank loans more 5 yr by instal - 966,669

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 1,426,080 1,358,687