Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr C A Hawke 28/05/2008 Mr R A Walton 19/05/2023 28/05/2008 27 August 2024 The principal activity of the company is the sale of used cars and light motor vehicles. 06603844 2024-03-31 06603844 bus:Director1 2024-03-31 06603844 bus:Director2 2024-03-31 06603844 2023-03-31 06603844 core:CurrentFinancialInstruments 2024-03-31 06603844 core:CurrentFinancialInstruments 2023-03-31 06603844 core:ShareCapital 2024-03-31 06603844 core:ShareCapital 2023-03-31 06603844 core:CapitalRedemptionReserve 2024-03-31 06603844 core:CapitalRedemptionReserve 2023-03-31 06603844 core:RetainedEarningsAccumulatedLosses 2024-03-31 06603844 core:RetainedEarningsAccumulatedLosses 2023-03-31 06603844 core:LandBuildings 2023-03-31 06603844 core:OtherPropertyPlantEquipment 2023-03-31 06603844 core:LandBuildings 2024-03-31 06603844 core:OtherPropertyPlantEquipment 2024-03-31 06603844 bus:OrdinaryShareClass1 2024-03-31 06603844 bus:OrdinaryShareClass2 2024-03-31 06603844 2023-04-01 2024-03-31 06603844 bus:FilletedAccounts 2023-04-01 2024-03-31 06603844 bus:SmallEntities 2023-04-01 2024-03-31 06603844 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06603844 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06603844 bus:Director1 2023-04-01 2024-03-31 06603844 bus:Director2 2023-04-01 2024-03-31 06603844 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 06603844 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-04-01 2024-03-31 06603844 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 06603844 2022-04-01 2023-03-31 06603844 core:LandBuildings 2023-04-01 2024-03-31 06603844 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 06603844 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06603844 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06603844 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 06603844 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06603844 (England and Wales)

TREGONING LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

TREGONING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TREGONING LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
TREGONING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mr C A Hawke
Mr R A Walton (Resigned 19 May 2023)
REGISTERED OFFICE West Hill
St Breock
Wadebridge
PL27 7HT
United Kingdom
COMPANY NUMBER 06603844 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
TREGONING LIMITED

BALANCE SHEET

As at 31 March 2024
TREGONING LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 247,774 242,645
247,774 242,645
Current assets
Stocks 4 589,579 534,196
Debtors 5 35,586 39,828
Cash at bank and in hand ( 90,150) 146,227
535,015 720,251
Creditors: amounts falling due within one year 6 ( 146,317) ( 124,997)
Net current assets 388,698 595,254
Total assets less current liabilities 636,472 837,899
Provision for liabilities ( 7,213) ( 6,607)
Net assets 629,259 831,292
Capital and reserves
Called-up share capital 7 32,500 40,000
Capital redemption reserve 67,500 60,000
Profit and loss account 529,259 731,292
Total shareholders' funds 629,259 831,292

For the financial year ending 31 March 2024 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 Tregoning Limited (registered number: 06603844) were approved and authorised for issue by the Director on 27 August 2024. They were signed on its behalf by:

Mr C A Hawke
Director
TREGONING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TREGONING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Tregoning Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is West Hill, St Breock, Wadebridge, PL27 7HT, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 10 - 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 11 11

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 261,268 268,383 529,651
Additions 10,095 4,284 14,379
At 31 March 2024 271,363 272,667 544,030
Accumulated depreciation
At 01 April 2023 36,092 250,914 287,006
Charge for the financial year 5,326 3,924 9,250
At 31 March 2024 41,418 254,838 296,256
Net book value
At 31 March 2024 229,945 17,829 247,774
At 31 March 2023 225,176 17,469 242,645

4. Stocks

2024 2023
£ £
Stocks 589,579 534,196

5. Debtors

2024 2023
£ £
Trade debtors 21,716 3,744
Amounts owed by director 0 12,500
Prepayments and accrued income 13,007 11,175
Other debtors 863 12,409
35,586 39,828

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 40,341 45,953
Amounts owed to director 42,000 0
Accruals 11,005 21,611
Taxation and social security 44,559 26,100
Other creditors 8,412 31,333
146,317 124,997

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
25,000 Ordinary - Voting shares of £ 1.00 each (2023: 40,000 shares of £ 1.00 each) 25,000 40,000
7,500 Ordinary B - Non-voting shares of £ 1.00 each (2023: nil shares) 7,500 0
32,500 40,000

During the financial year, the company engaged in a buy back of 7,500 Ordinary shares from one shareholder. The shareholder's remaining shares of 7,500 were converted into Ordinary B shares.