2023-01-012023-12-312023-12-31false03779704TREGARON TRADING SERVICES 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TREGARON TRADING SERVICES LIMITED

Registered Number
03779704
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

TREGARON TRADING SERVICES LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

CUTTER, James Lewis
CUTTER, Robert John

Company Secretary

CLARE, Lesley May

Registered Address

Neuaddlas
Tregaron
Dyfed
SY25 6LG

Registered Number

03779704 (England and Wales)
TREGARON TRADING SERVICES LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3868,438919,610
868,438919,610
Current assets
Stocks4277,277202,277
Debtors1,167,1401,025,090
Cash at bank and on hand954,802863,736
2,399,2192,091,103
Creditors amounts falling due within one year5(558,111)(412,283)
Net current assets (liabilities)1,841,1081,678,820
Total assets less current liabilities2,709,5462,598,430
Creditors amounts falling due after one year6(94,738)(49,141)
Provisions for liabilities8(96,445)(109,238)
Net assets2,518,3632,440,051
Capital and reserves
Called up share capital101101
Profit and loss account2,518,2622,439,950
Shareholders' funds2,518,3632,440,051
The financial statements were approved and authorised for issue by the Board of Directors on 18 September 2024, and are signed on its behalf by:
CUTTER, Robert John
Director
Registered Company No. 03779704
TREGARON TRADING SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
These financial statements have been prepared on a going concern basis.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year3232
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 23482,657633,4542,5781,118,689
Additions-39,619-39,619
At 31 December 23482,657673,0732,5781,158,308
Depreciation and impairment
At 01 January 23-196,7542,325199,079
Charge for year-90,69110090,791
At 31 December 23-287,4452,425289,870
Net book value
At 31 December 23482,657385,628153868,438
At 31 December 22482,657436,700253919,610
4.Stocks

2023

2022

££
Work in progress277,277202,277
Total277,277202,277
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables250,13055,106
Taxation and social security140,29090,279
Finance lease and HP contracts86,57035,130
Other creditors30,18534,837
Accrued liabilities and deferred income50,936196,931
Total558,111412,283
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Other creditors94,73849,141
Total94,73849,141
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts93,14446,750
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)96,445109,238
Total96,445109,238
9.Related party transactions
As at the balance sheet date the company was due £900,488 (2022: £900,488) by a company related by common shareholders. No interest is chargeable and the balance is repayable on demand. At the balance sheet date the company owed its directors £28,806 (2022: £30,462). No interest is chargeable and the balance is repayable on demand.