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Registration number: 02133945

Trelawney Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Trelawney Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 9

 

Trelawney Limited

Company Information

Director

Mr G Adams

Company secretary

Mr M Larter

Registered office

Ground Floor, Unit 3 Southview House St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

Accountants

Harland Accountants
Ground Floor, Unit 3 Southview House
St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

 

Trelawney Limited

Director's Report for the Year Ended 31 October 2023

The director presents his report and the financial statements for the year ended 31 October 2023.

Director of the company

The director who held office during the year was as follows:

Mr G Adams

Principal activity

The principal activity of the company is ownership and management of property.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 4 April 2024
 

.........................................
Mr G Adams
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Trelawney Limited
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Trelawney Limited for the year ended 31 October 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Trelawney Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Trelawney Limited and state those matters that we have agreed to state to the Board of Directors of Trelawney Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trelawney Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Trelawney Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Trelawney Limited. You consider that Trelawney Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Trelawney Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Harland Accountants
Ground Floor, Unit 3 Southview House
St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

4 April 2024

 

Trelawney Limited

(Registration number: 02133945)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

250

333

Investment property

5

465,000

465,000

 

465,250

465,333

Current assets

 

Debtors

194

51,000

Cash at bank and in hand

 

1,586

635

 

1,780

51,635

Creditors: Amounts falling due within one year

(120,289)

(163,053)

Net current liabilities

 

(118,509)

(111,418)

Total assets less current liabilities

 

346,741

353,915

Creditors: Amounts falling due after more than one year

(94,179)

(110,233)

Net assets

 

252,562

243,682

Capital and reserves

 

Called up share capital

6

101

101

Revaluation reserve

64,930

64,930

Retained earnings

187,531

178,651

Shareholders' funds

 

252,562

243,682

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

 

Trelawney Limited

(Registration number: 02133945)
Balance Sheet as at 31 October 2023

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 April 2024
 

.........................................
Mr G Adams
Director

 

Trelawney Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor, Unit 3 Southview House St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

The principal place of business is:
78 The Strand
Newlyn
Penzance
TR18 5HW

These financial statements were authorised for issue by the director on 4 April 2024.

2

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, which assumes that the company will continue in existence for the foreseeable future. The validity of this assumption depends upon the continued support of the company's bankers and its director. The director has confirmed that he will continue to support the company and will not request repayment of the amount owed to him unless the company has the funds available to meet that request.

 

Trelawney Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit or loss.

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 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.

 

Trelawney Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Trelawney Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

9,259

9,259

At 31 October 2023

9,259

9,259

Depreciation

At 1 November 2022

8,926

8,926

Charge for the year

83

83

At 31 October 2023

9,009

9,009

Carrying amount

At 31 October 2023

250

250

At 31 October 2022

333

333

5

Investment properties

2023
£

At 1 November

465,000

At 31 October

465,000


The investment property was valued at fair value by an independent valuer on 23 January 2019.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

1

1

1

1

 

101

101

101

101