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Registration number: 04485980

Tregarland Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2022 to 31 December 2023

 

Tregarland Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Tregarland Limited

(Registration number: 04485980)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

491,558

525,869

Current assets

 

Stocks

5

1,000

1,000

Debtors

6

1,902,575

1,628,412

Cash at bank and in hand

 

1,706,187

1,677,356

 

3,609,762

3,306,768

Creditors: Amounts falling due within one year

7

(399,633)

(234,337)

Net current assets

 

3,210,129

3,072,431

Total assets less current liabilities

 

3,701,687

3,598,300

Creditors: Amounts falling due after more than one year

7

(26,408)

(19,867)

Provisions for liabilities

(104,864)

(131,467)

Net assets

 

3,570,415

3,446,966

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

3,569,415

3,445,966

Shareholders' funds

 

3,570,415

3,446,966

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

 

Tregarland Limited

(Registration number: 04485980)
Statement of Financial Position as at 31 December 2023 (continued)


Mr S P Hay
Company secretary and director

 

Tregarland Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Westcotts
Plym House, 3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is continues to be that of a residential home for patients with learning difficulties, mental health and substance abuse.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Tregarland Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

5% Straight line

Plant and machinery

10% Reducing balance

Fittings fixtures and equipment

20% Reducing balance

Motor vehicles

20% Reducing balance

 

Tregarland Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023 (continued)

2

Accounting policies (continued)

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Tregarland Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 39 (2022 - 35).

4

Tangible assets

Freehold Property
£

Fixtures, fittings and equipment
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

32,591

34,099

533,958

107,292

707,940

Additions

-

21,722

-

46,272

67,994

At 31 December 2023

32,591

55,821

533,958

153,564

775,934

Depreciation

At 1 July 2022

3,260

13,911

101,452

63,448

182,071

Charge for the period

2,444

7,951

64,877

27,033

102,305

At 31 December 2023

5,704

21,862

166,329

90,481

284,376

Carrying amount

At 31 December 2023

26,887

33,959

367,629

63,083

491,558

At 30 June 2022

29,331

20,188

432,506

43,844

525,869

 

Tregarland Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023 (continued)

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

1,000

1,000

6

Debtors

2023
£

2022
£

Trade debtors

102,943

24,156

Other debtors

1,721,374

1,588,162

Prepayments

23,735

16,094

Accrued income

54,523

-

1,902,575

1,628,412

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Loans and borrowings

21,633

4,860

Trade creditors

1,957

2,133

Taxation and social security

209,743

100,598

Accruals and deferred income

22,954

15,405

Other creditors

143,346

111,341

399,633

234,337

Creditors: amounts falling due after more than one year

2023
£

2022
£

Loans and borrowings

26,408

19,867

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Tregarland Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023 (continued)

9

Related party transactions

Transactions with directors

2023

At 1 July 2022
£

Advances to directors
£

Repayments by directors
£

At 31 December 2023
£

Directors

40,356

-

23,000

63,356

Director

-

(247,526)

2,459

(245,067)

 

40,356

(247,526)

25,459

(181,711)

       

 

2022

At 1 July 2021
£

Repayments by director
£

At 30 June 2022
£

Directors

6,356

34,000

40,356

6,356

34,000

40,356

 

Directors' loans are repayable on demand.

Summary of transactions with other related parties

Within other debtors is a balance of £1,513,595 (2022: £1,587,912) owed to companies with common control.