Registered number
05808084
Anthony Trueman and Co Limited
Unaudited Filleted Accounts
31 August 2023
Anthony Trueman and Co Limited
Registered number: 05808084
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 274,102 151,071
Current assets
Debtors 5 602 1,462
Creditors: amounts falling due within one year 6 (42,753) (137,685)
Net current liabilities (42,151) (136,223)
Total assets less current liabilities 231,951 14,848
Creditors: amounts falling due after more than one year 7 (130,821) (13,800)
Provisions for liabilities (29,479) -
Net assets 71,651 1,048
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 8 70,362 -
Profit and loss account 289 48
Shareholders' funds 71,651 1,048
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Anthony Trueman
Director
Approved by the board on 8 November 2023
Anthony Trueman and Co Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
The alternative accounting rules in the Companies Act 2006 have been adopted for freehold land and property. The assets are carried out at valuation as permitted by section 17 of FRS 102.
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, furniture and equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 15,000
At 31 August 2023 15,000
Amortisation
At 1 September 2022 15,000
At 31 August 2023 15,000
Net book value
At 31 August 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 122,997 20,605 33,446 177,048
Additions 33,187 773 - 33,960
Surplus on revaluation 93,816 - - 93,816
At 31 August 2023 250,000 21,378 33,446 304,824
Depreciation
At 1 September 2022 2,460 15,156 8,361 25,977
Charge for the year (2,460) 934 6,271 4,745
At 31 August 2023 - 16,090 14,632 30,722
Net book value
At 31 August 2023 250,000 5,288 18,814 274,102
At 31 August 2022 120,537 5,449 25,085 151,071
Freehold land and buildings: 2023 2022
£ £
Historical cost 156,184 122,997
Cumulative depreciation based on historical cost 5,584 2,460
150,600 120,537
For the year ended 31 August 2023, the company has adopted the alternative accounting rules for freehold property, with property revalued each year by the director at open market value.
5 Debtors 2023 2022
£ £
Other debtors 602 1,462
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 20,978 17,876
Taxation and social security costs 6,583 10,249
Other creditors 15,192 109,560
42,753 137,685
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,821 13,800
Other creditors 120,000 -
130,821 13,800
8 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 93,816 -
Deferred taxation arising on the revaluation of land and buildings (23,454) -
At 31 August 2023 70,362 -
9 Controlling party
The company's director, Anthony Trueman, is the controlling party by virtue of his majority shareholding.
10 Other information
Anthony Trueman and Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
8c West Street
Tavistock
Devon
PL19 8AD
Anthony Trueman and Co Limited 05808084 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts October 2023 release 2 Anthony Trueman No description of principal activity 05808084 2021-09-01 2022-08-31 05808084 core:RevaluationReserve core:LandBuildings 2021-09-01 2022-08-31 05808084 core:RevaluationReserve 2021-09-01 2022-08-31 05808084 core:WithinOneYear 2022-08-31 05808084 core:AfterOneYear 2022-08-31 05808084 core:ShareCapital 2022-08-31 05808084 core:OtherReservesSubtotal 2022-08-31 05808084 core:RetainedEarningsAccumulatedLosses 2022-08-31 05808084 core:RevaluationReserve 2022-08-31 05808084 2022-09-01 2023-08-31 05808084 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05808084 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 05808084 bus:Director40 2022-09-01 2023-08-31 05808084 1 2022-09-01 2023-08-31 05808084 2 2022-09-01 2023-08-31 05808084 core:LandBuildings 2022-09-01 2023-08-31 05808084 core:PlantMachinery 2022-09-01 2023-08-31 05808084 core:Vehicles 2022-09-01 2023-08-31 05808084 core:RevaluationReserve core:LandBuildings 2022-09-01 2023-08-31 05808084 core:RevaluationReserve 2022-09-01 2023-08-31 05808084 countries:England 2022-09-01 2023-08-31 05808084 bus:FRS102 2022-09-01 2023-08-31 05808084 bus:FullAccounts 2022-09-01 2023-08-31 05808084 2023-08-31 05808084 core:WithinOneYear 2023-08-31 05808084 core:AfterOneYear 2023-08-31 05808084 core:ShareCapital 2023-08-31 05808084 core:OtherReservesSubtotal 2023-08-31 05808084 core:RetainedEarningsAccumulatedLosses 2023-08-31 05808084 core:Goodwill 2023-08-31 05808084 core:LandBuildings 2023-08-31 05808084 core:PlantMachinery 2023-08-31 05808084 core:Vehicles 2023-08-31 05808084 core:RevaluationReserve 2023-08-31 05808084 2022-08-31 05808084 core:Goodwill 2022-08-31 05808084 core:LandBuildings 2022-08-31 05808084 core:PlantMachinery 2022-08-31 05808084 core:Vehicles 2022-08-31 iso4217:GBP xbrli:pure