Registered number: 12283145
TROWELLCO LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023
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TROWELLCO LIMITED
COMPANY INFORMATION
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TROWELLCO LIMITED
CONTENTS
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Statement of Changes in Equity
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Notes to the Financial Statements
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TROWELLCO LIMITED
REGISTERED NUMBER: 12283145
BALANCE SHEET
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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TROWELLCO LIMITED
REGISTERED NUMBER: 12283145
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 6 form part of these financial statements.
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TROWELLCO LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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As restated at 1 January 2022
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As restated at 1 January 2023
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Shares issued during the year
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The notes on pages 4 to 6 form part of these financial statements.
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TROWELLCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trowellco Limited ("the company") is a private company, limited by shares, incorporated in England and Wales with registration number of 12283145. The registered office is Eighth Floor 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company expects the continued support of the principal shareholders, who have confirmed that they will provide such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the company.
Investments in joint ventures are measured at cost less accumulated impairment.
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.
Short-term 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.
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The average monthly number of employees, including directors, during the year was 5 (2022 - 5).
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TROWELLCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Investments in joint ventures
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Called up share capital not paid
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Creditors: Amounts falling due within one year
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At the start of the year, there were 1,000 ordinary shares of £1 in issue, issued at par, and 350,000,000,000 Preferred Ordinary shares of £0.00000001, issued for £3,503,500 in total (including share premium of £3,500,000).
During the year a further 200 Ordinary shares were issued at par of £1, and a further 9,996,500,000 Preferred shares were issued at par of £0.00000001.
A share consolidation procedure was later completed to convert each 1,000,000,000 Preferred Ordinary shares of £0.00000001 into 1 Preferred Ordinary Share of £1.
At the Balance Sheet date there were 1,200 Ordinary shares of £1 in issue, issued at par, and 3,600 Preferred Ordinary shares of £1 in issue, issued at par.
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TROWELLCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
During the preparation of the financial statements of the company for the year ended 31 December 2023, it was identified that the allocation of share capital and share premium in the prior year had been incorrectly split. The share capital arose on one allotment of shares and the share premium on a separate allotment, whereas the prior year figures had accounted for this as only one allotment.
The entries to account for these transactions have been restated for the year ended 31 December 2023 and therefore the 2022 comparative figures reflect the revised allocation of these transactions within the Balance Sheet. There is no change to the profit for the current or previous year.
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