Company registration number 10312541 (England and Wales)
TREADSTONE ESTATES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
TREADSTONE ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
TREADSTONE ESTATES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
11,667
15,667
Tangible assets
4
22,655
28,318
Investment property
5
293,029
95,724
327,351
139,709
Current assets
Debtors
6
228,435
127,354
Cash at bank and in hand
559
2,823
228,994
130,177
Creditors: amounts falling due within one year
7
(91,934)
(175,468)
Net current assets/(liabilities)
137,060
(45,291)
Total assets less current liabilities
464,411
94,418
Creditors: amounts falling due after more than one year
8
(464,667)
(104,550)
Provisions for liabilities
(3,739)
Net liabilities
(3,995)
(10,132)
Capital and reserves
Called up share capital
9
100
100
Revaluation reserve
22,419
3,044
Profit and loss reserves
(26,514)
(13,276)
Total equity
(3,995)
(10,132)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 12 August 2024
Mr M H Bowes
Director
Company Registration No. 10312541
TREADSTONE ESTATES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 September 2021
100
(23,039)
(22,939)
Year ended 31 August 2022:
Profit
-
-
12,807
12,807
Other comprehensive income:
Tax relating to other comprehensive income
-
(493)
493
-
Total comprehensive income
-
(493)
13,300
12,807
Transfers
-
3,537
(3,537)
-
Balance at 31 August 2022
100
3,044
(13,276)
(10,132)
Year ended 31 August 2023:
Profit
-
-
6,137
6,137
Other comprehensive income:
Tax relating to other comprehensive income
-
(8,313)
8,313
-
Total comprehensive income
-
(8,313)
14,450
6,137
Transfers
-
27,688
(27,688)
-
Balance at 31 August 2023
100
22,419
(26,514)
(3,995)
TREADSTONE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
1
Accounting policies
Company information
Treadstone Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bridge Street, Newport, Gwent, NP20 4AL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Intangible assets
20% on cost
1.5
Tangible fixed assets
Tangible fixed assets are measured at net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
20% on cost
1.6
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
TREADSTONE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Debtors and creditors with no stated interest rate an receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
TREADSTONE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 5 -
3
Intangible fixed assets
Intangible assets
£
Cost
At 1 September 2022 and 31 August 2023
20,000
Amortisation and impairment
At 1 September 2022
4,333
Amortisation charged for the year
4,000
At 31 August 2023
8,333
Carrying amount
At 31 August 2023
11,667
At 31 August 2022
15,667
4
Tangible fixed assets
Motor vehicles
£
Cost
At 1 September 2022 and 31 August 2023
36,050
Depreciation and impairment
At 1 September 2022
7,732
Depreciation charged in the year
5,663
At 31 August 2023
13,395
Carrying amount
At 31 August 2023
22,655
At 31 August 2022
28,318
5
Investment property
2023
£
Fair value
At 1 September 2022
95,724
Additions
169,617
Revaluations
27,688
At 31 August 2023
293,029
TREADSTONE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
5
Investment property
(Continued)
- 6 -
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 August 2023 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
228,435
127,351
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset
3
Total debtors
228,435
127,354
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
8,333
8,333
Trade creditors
45
Corporation tax
2,964
2,912
Other creditors
80,637
164,178
91,934
175,468
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
206,588
104,550
Other creditors
258,079
464,667
104,550
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
184,037
73,437
TREADSTONE ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 7 -
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
10
Related party transactions
During the year, the company loaned money to Aston Lyon Limited. At the year end, the amount owed from Aston Lyon Limited was £19,071 this amount is included in debtors: amounts falling due within one year. A company with a common director.
During the year, the company loaned money to Ballanwood Castle Estates Limited. At the year end, the amount owed from Ballanwood Castle Estates Limited was £54,382 this amount is included in debtors: amounts falling due within one year. A company with a common director.
During the year, the company loaned money from Ballanwood Limited. At the year end, the amount owed to Ballanwood Limited was £2,172 this amount is included in creditors: amounts falling due within one year. A company with a common director.
During the year, the company loaned money from Harvey Bowes Financial Services Limited. At the year end, the amount owed to Harvey Bowes Financial Services Limited was £8,471 this amount is included in creditors: amounts falling due within one year. A company with a common director.
During the year, the company loaned money from Harvey Bowes Limited. At the year end, the amount owed to Harvey Bowes Limited was £4,174 this amount is included in creditors: amounts falling due within one year. A company with a common director.
During the year, the company loaned money from BW3 Limited. At the year end, the amount owed to BW3 Limited was £3,700 this amount is included in creditors: amounts falling due within one year. A company with a common director.
During the year, the company loaned money from Ballanwood Estates Limited. At the year end, the amount owed to Ballanwood Estates Limited was £30,508 this amount is included in creditors: amounts falling due within one year. A company with a common director.
11
Directors' transactions
The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding to the director was £30,112 (2022 - £60,988); this amount is included in creditors: amounts falling due within one year.
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