Registration number:
Three Tuns Developments Limited
for the Year Ended 31 March 2023
Three Tuns Developments Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Three Tuns Developments Limited
Company Information
Directors |
A J Ward S J Williams |
Registered office |
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Accountants |
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Three Tuns Developments Limited
(Registration number: 10260604)
Balance Sheet as at 31 March 2023
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Retained earnings |
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Shareholders' funds |
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For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Three Tuns Developments Limited
(Registration number: 10260604)
Balance Sheet as at 31 March 2023 (continued)
Approved and authorised by the
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Three Tuns Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable from rental income in the normal course of business, and is shown net of VAT and other sales related taxes. Rental income receivable under operating leases is accrued on a straight line basis over the lease term.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Three Tuns Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)
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Accounting policies (continued) |
Tangible assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Plant and equipment 10% Straight line
Fixtures and fittings 20% Straight line
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Three Tuns Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)
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Accounting policies (continued) |
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Three Tuns Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2022 |
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Additions |
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At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
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Charge for the year |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Investment properties |
2023 |
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At 1 April |
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Additions |
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At 31 March |
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In the opinion of the directors, the cost of the investment properties represents the fair value as at 31 March 2023.
Debtors |
Current |
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2022 |
Trade debtors |
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Other debtors |
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Three Tuns Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
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2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2022 |
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No. |
£ |
No. |
£ |
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200 |
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200 |
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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Three Tuns Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)
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Loans and borrowings (continued) |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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