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Company Registration No. 05015070 (England and Wales)
Tresslewood Limited Unaudited accounts for the year ended 31 March 2023
Tresslewood Limited Unaudited accounts Contents
Page
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Tresslewood Limited Company Information for the year ended 31 March 2023
Directors
Maurice James Flux Patricia Mary Flux Thomas Flux
Company Number
05015070 (England and Wales)
Registered Office
Holden Farm Roud Ventnor Isle Of Wight PO38 3LH England
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Tresslewood Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
20,237 
20,237 
Investment property
568,398 
564,258 
588,635 
584,495 
Current assets
Inventories
- 
1,140,585 
Debtors
3,002,370 
- 
Cash at bank and in hand
834 
14,643 
3,003,204 
1,155,228 
Creditors: amounts falling due within one year
(36,381)
(14,582)
Net current assets
2,966,823 
1,140,646 
Total assets less current liabilities
3,555,458 
1,725,141 
Creditors: amounts falling due after more than one year
(2,490,615)
(2,178,082)
Net assets/(liabilities)
1,064,843 
(452,941)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
1,064,841 
(452,943)
Shareholders' funds
1,064,843 
(452,941)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by
Thomas Flux Director Company Registration No. 05015070
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Tresslewood Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Tresslewood Limited is a private company, limited by shares, registered in England and Wales, registration number 05015070. The registered office is Holden Farm, Roud, Ventnor, Isle Of Wight, PO38 3LH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
At the year end date the company's liabilities exceeded its assets. As a result the company is reliant on the continued support of its director by way of the loans provided. The director has confirmed that he will continue to support the company and will not recall any loans owing to him until the company is in a position to do so. As a result the director considers that the company has adequate resources for the foreseeable future and therefore deems it appropriate to prepare the accounts on a going concern basis.
Taxation
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 reporting date in the countries where the Company operates and generates income.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Computer equipment
15% straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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Tresslewood Limited Notes to the Accounts for the year ended 31 March 2023
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings. Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the director has made the following judgements: Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Prior year adjustment
During the year the directors identified that stock of £1,140,585 had been incorrectly classified in previous years as a fixed asset, and as a result have made a prior year adjustment to correct this error. The impact is such that the brought forward reserves have increased by £211,687 as a result of the removal of depreciation, there has been no other impact on profit.
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Tresslewood Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
20,237 
37,460 
57,697 
At 31 March 2023
20,237 
37,460 
57,697 
Depreciation
At 1 April 2022
- 
37,460 
37,460 
At 31 March 2023
- 
37,460 
37,460 
Net book value
At 31 March 2023
20,237 
- 
20,237 
At 31 March 2022
20,237 
- 
20,237 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
564,258 
Additions
4,140 
At 31 March 2023
568,398 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
3,584 
- 
Trade debtors
2,998,786 
- 
3,002,370 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
633 
Trade creditors
24,011 
1,579 
Other creditors
10,770 
10,770 
Accruals
1,600 
1,600 
36,381 
14,582 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Taxes and social security
255,973 
- 
Loans from directors
2,234,642 
2,178,082 
2,490,615 
2,178,082 
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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