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COMPANY REGISTRATION NUMBER: 04130431
Treste Investments Limited
Filleted Unaudited Abridged Financial Statements
31 December 2023
Treste Investments Limited
Abridged Financial Statements
Year Ended 31 December 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Treste Investments Limited
Abridged Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed Assets
6
1,381
1,726
Investment property
7
650,000
650,000
---------
---------
651,381
651,726
Current Assets
Debtors
807
599
Cash at bank and in hand
195,157
181,205
---------
---------
195,964
181,804
Creditors: amounts falling due within one year
30,378
31,074
---------
---------
Net Current Assets
165,586
150,730
---------
---------
Total Assets Less Current Liabilities
816,967
802,456
---------
---------
Net Assets
816,967
802,456
---------
---------
Capital and Reserves
Called up share capital
8
290
290
Other reserves
237
237
Profit and loss account
816,440
801,929
---------
---------
Shareholders Funds
816,967
802,456
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Treste Investments Limited
Abridged Statement of Financial Position (continued)
31 December 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Ms G Widerman
Director
Company registration number: 04130431
Treste Investments Limited
Notes to the Abridged Financial Statements
Year Ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, Derbyshire, S40 1LA.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
Revenue recognition
The turnover shown in the profit and loss account represents rents receivable for the year.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
20% reducing balance
Freehold property is not depreciated on the grounds that the depreciation charge and accumulated depreciation would be immaterial. This is due to the company having a policy and practice of regular maintenance and repair resulting in a high residual value. Maintenance and repair charges are recognised in the profit and loss account. In accordance with the FRSSE, the carrying values of freehold property are reviewed for impairment at the end of each period to ensure there are no events or changes in circumstances which would indicate the carrying value may not be recoverable.
Investments
Investment property whose fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No depreciation is provided in respect of investment properties.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Debtors and creditors with no stated interest rate and 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.
4. Turnover
Turnover amounted to £74,784 (2022: £70,729) for the year.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
6.
£
Cost
At 1 January 2023 and 31 December 2023
2,698
-------
Depreciation
At 1 January 2023
972
Charge for the year
345
-------
At 31 December 2023
1,317
-------
Carrying amount
At 31 December 2023
1,381
-------
At 31 December 2022
1,726
-------
7. Investment property
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
650,000
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
650,000
---------
At 31 December 2022
650,000
---------
The property valuation was made by the directors, on an open market value for existing use basis.
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.10 each
2,900
290
2,900
290
-------
----
-------
----
9. Director's advances, credits and guarantees
There are no director's advances, credits or guarantees requiring disclosure.
10. Related party transactions
Treste Investments Limited owns the property out of which Treste Hire and Sales Limited operates, a related party by virtue of common ownership. During the year Treste Investments Limited charged rent and insurance of £42,081 (2022: £44,468) to Treste Hire and Sales Limited. The amount outstanding at the year end was £nil (2022: £nil).