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2023-05-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
SC111612
2023-05-01
2024-04-30
SC111612
2024-04-30
SC111612
2023-04-30
SC111612
2023-04-30
SC111612
core:FurnitureFittings
2023-05-01
2024-04-30
SC111612
bus:OrdinaryShareClass1
2023-05-01
2024-04-30
SC111612
bus:Director4
2023-05-01
2024-04-30
SC111612
core:LandBuildings
2023-04-30
SC111612
core:FurnitureFittings
2023-04-30
SC111612
core:LandBuildings
2024-04-30
SC111612
core:FurnitureFittings
2024-04-30
SC111612
core:LandBuildings
2023-05-01
2024-04-30
SC111612
core:WithinOneYear
2024-04-30
SC111612
core:WithinOneYear
2023-04-30
SC111612
core:ShareCapital
2024-04-30
SC111612
core:ShareCapital
2023-04-30
SC111612
core:RevaluationReserve
2024-04-30
SC111612
core:RevaluationReserve
2023-04-30
SC111612
core:RetainedEarningsAccumulatedLosses
2024-04-30
SC111612
core:RetainedEarningsAccumulatedLosses
2023-04-30
SC111612
core:LandBuildings
2023-04-30
SC111612
core:FurnitureFittings
2023-04-30
SC111612
bus:SmallEntities
2023-05-01
2024-04-30
SC111612
bus:AuditExemptWithAccountantsReport
2023-05-01
2024-04-30
SC111612
bus:FullAccounts
2023-05-01
2024-04-30
SC111612
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
SC111612
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
SC111612
bus:OrdinaryShareClass1
2024-04-30
SC111612
bus:OrdinaryShareClass1
2023-04-30
SC111612
core:OfficeEquipment
2023-05-01
2024-04-30
SC111612
core:OfficeEquipment
2023-04-30
SC111612
core:OfficeEquipment
2024-04-30
SC111612
core:RetainedEarningsAccumulatedLosses
2023-05-01
2024-04-30
SC111612
bus:Director4
bus:ExecutiveOfficer
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
SC111612
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 April 2024
Fixed assets
Tangible assets |
4 |
|
564,769 |
363,397 |
|
|
|
|
|
Current assets
Cash at bank and in hand |
3,548 |
|
19,750 |
|
|
|
|
Prepayments and accrued income |
1,009 |
|
589 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
348,634 |
|
151,774 |
|
--------- |
|
--------- |
Net current liabilities |
|
344,077 |
131,435 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
220,692 |
231,962 |
|
|
--------- |
--------- |
Net assets |
|
220,692 |
231,962 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
6 |
|
100 |
100 |
Revaluation reserve |
7 |
|
233,343 |
233,343 |
Profit and loss account |
7 |
|
(
12,751) |
(
1,481) |
|
|
--------- |
--------- |
Shareholders funds |
|
220,692 |
231,962 |
|
|
--------- |
--------- |
|
|
|
|
|
These 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 statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
30 April 2024
These financial statements were approved by the
board of directors
and authorised for issue on
12 September 2024
, and are signed on behalf of the board by:
Joan I. R. Troup |
Director |
|
Company registration number:
SC111612
Notes to the Financial Statements |
|
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Dalnasgadh, Killiecrankie, Pitlochry, Perthshire, PH16 5LN.
2.
Statement of compliance
These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, and are measured subsequently at amortised cost using the effective interest method.
Disclosure exemptions
The individual accounts of Trescorp Ltd have also adopted the following disclosure exemptions: - the requirement to present a statement of cash flows and related notes - financial instrument disclosures, including - categories of financial instruments - items of income, expenses, gains or losses relating to financial instruments, and - exposure to and management of financial risks. - balances owed by and to related parties at the year end.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Fixtures and fittings |
- |
20% straight line |
|
Office equipment |
- |
20% straight line |
|
|
|
|
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Tangible assets
|
Land and buildings |
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 1 May 2023 |
362,431 |
23,773 |
16,632 |
402,836 |
Additions |
196,815 |
6,150 |
– |
202,965 |
|
--------- |
-------- |
-------- |
--------- |
At 30 April 2024 |
559,246 |
29,923 |
16,632 |
605,801 |
|
--------- |
-------- |
-------- |
--------- |
Depreciation |
|
|
|
|
At 1 May 2023 |
– |
23,417 |
16,022 |
39,439 |
Charge for the year |
– |
1,389 |
204 |
1,593 |
|
--------- |
-------- |
-------- |
--------- |
At 30 April 2024 |
– |
24,806 |
16,226 |
41,032 |
|
--------- |
-------- |
-------- |
--------- |
Carrying amount |
|
|
|
|
At 30 April 2024 |
559,246 |
5,117 |
406 |
564,769 |
|
--------- |
-------- |
-------- |
--------- |
At 30 April 2023 |
362,431 |
356 |
610 |
363,397 |
|
--------- |
-------- |
-------- |
--------- |
|
|
|
|
|
Tangible assets held at valuation
This property valuation has been provided by the directors who believe this to accurately reflect the fair value of the properties.
5.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Social security and other taxes |
1 |
1 |
Other creditors |
348,633 |
151,773 |
|
--------- |
--------- |
|
348,634 |
151,774 |
|
--------- |
--------- |
|
|
|
6.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
7.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
8.
Directors' advances, credits and guarantees
There were no director advances, credits or guarantees undertaken during the year which require to be disclosed under FRS 102 section 1A.
The average number of employees during the year was 0. (2023 - 0)
9.
Related party transactions
The company was under the control of the Troup family throughout the year. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.