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Company No: SC330873 (Scotland)

TRYMBANK DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

TRYMBANK DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

TRYMBANK DEVELOPMENTS LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2023
TRYMBANK DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 0 160,000
0 160,000
Current assets
Debtors
- due within one year 4 0 3,640
- due after more than one year 4 44,541 28,245
Cash at bank and in hand 1,421 881
45,962 32,766
Creditors: amounts falling due within one year 5 ( 2,926) ( 4,933)
Net current assets 43,036 27,833
Total assets less current liabilities 43,036 187,833
Creditors: amounts falling due after more than one year 6 ( 501,489) ( 639,732)
Net liabilities ( 458,453) ( 451,899)
Capital and reserves
Called-up share capital 7 138 138
Profit and loss account ( 458,591 ) ( 452,037 )
Total shareholders' deficit ( 458,453) ( 451,899)

For the financial year ending 30 November 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 financial statements of Trymbank Developments Limited (registered number: SC330873) were approved and authorised for issue by the Director on 30 August 2024. They were signed on its behalf by:

Ms S Lang
Director
TRYMBANK DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
TRYMBANK DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Trymbank Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 69 St. Vincent Street, Glasgow, G2 5TF, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £472,710. The Company is supported through loans from Related Companies. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Related Companies will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable as rental income.

Taxation

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 December 2022 160,000
Disposals (160,000)
As at 30 November 2023 0

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 0 414,266

4. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Trade debtors 0 3,640
Debtors: amounts falling due after more than one year
Amounts owed by fellow subsidiaries 30,284 28,245
Deferred tax asset 14,257 0
44,541 28,245

5. Creditors: amounts falling due within one year

2023 2022
£ £
Other taxation and social security 0 1,250
Other creditors 2,926 3,683
2,926 4,933

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to Group undertakings 142,432 168,307
Amounts owed to related parties 359,057 350,300
Other creditors 0 121,125
501,489 639,732

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
74 A ordinary shares of £ 1.00 each 74 74
32 B ordinary shares of £ 1.00 each 32 32
32 C ordinary shares of £ 1.00 each 32 32
138 138

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts due to the director 101 101

Other related party transactions

2023 2022
£ £
Amounts due to related parties 501,489 518,607
Amounts due from related parties 30,283 28,245

These loans are unsecured, interest has been charged at 2.5% and have no fixed terms of repayment.