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Trethella No. 1

Annual Report and Unaudited Financial Statements
Year Ended 31 December 2023

Registration number: 09870624

 

Trethella No. 1

Contents

Balance Sheet

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

Trethella No. 1

Balance Sheet

31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

5

3,001,878

2,858,002

Current assets

 

Debtors

6

452

442

Cash at bank and in hand

 

5,914

5,648

 

6,366

6,090

Creditors: Amounts falling due within one year

7

(6,548)

(4,895)

Net current (liabilities)/assets

 

(182)

1,195

Total assets less current liabilities

 

3,001,696

2,859,197

Provisions for liabilities

(155,927)

(154,041)

Net assets

 

2,845,769

2,705,156

Capital and reserves

 

Called up share capital

8

1,800,064

1,800,064

Capital redemption reserve

36

36

Profit and loss account

1,045,669

905,056

Shareholders' funds

 

2,845,769

2,705,156

 

Trethella No. 1

Balance Sheet

31 December 2023

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 September 2024 and signed on its behalf by:
 

.........................................
J W Newey
Director

Company Registration Number: 09870624

 

Trethella No. 1

Statement of Changes in Equity

Year Ended 31 December 2023

Share capital
£

Capital redemption reserve
£

Profit and loss account
£

Total
£

At 1 January 2023

1,800,064

36

905,056

2,705,156

Profit for the year

-

-

140,613

140,613

At 31 December 2023

1,800,064

36

1,045,669

2,845,769

There are reserves of £643,531 (2022: £563,168) which are not distributable to members of the company.

Share capital
£

Capital redemption reserve
£

Profit and loss account
£

Total
£

At 1 January 2022

1,800,100

-

1,291,002

3,091,102

Loss for the year

-

-

(277,946)

(277,946)

Purchase of own share capital

(36)

36

(108,000)

(108,000)

At 31 December 2022

1,800,064

36

905,056

2,705,156

 

Trethella No. 1

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
1 Clifton Terrace
New Road
Portscatho, Truro
Cornwall
TR2 5HR

These financial statements were authorised for issue by the Board on 14 September 2024.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for investments which are recognised at their fair value as at the balance sheet date. No account has been taken for any changes to the fair valuation since the balance sheet date or any impact of the Corona Virus.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 corporation 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.

 

Trethella No. 1

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Trethella No. 1

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

4

Taxation

Tax charged/(credited) in the profit and loss account

31 December
2023
£

31 December
2022
£

Current taxation

UK corporation tax

1,611

1,301

Deferred taxation

Arising from origination and reversal of timing differences

1,886

(24,968)

Tax expense/(receipt) in the income statement

3,497

(23,667)

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

2,858,002

2,858,002

Fair value adjustments

85,137

85,137

Additions

58,739

58,739

At 31 December 2023

3,001,878

3,001,878

Carrying amount

At 31 December 2023

3,001,878

3,001,878

The market value of the listed investments at 31 December 2023 was £3,001,878(2022: £2,858,002). The cost value at 31 December 2023 was £2,194,789 (2022: £2,136,051).

6

Debtors

2023
£

2022
£

Other debtors

452

442

452

442

 

Trethella No. 1

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

6,548

4,895

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary 'A' shares of £1 each

64

64

64

64

Ordinary 'B' shares of £1 each

360,000

360,000

360,000

360,000

Ordinary 'C' shares of £1 each

360,000

360,000

360,000

360,000

Ordinary 'D' shares of £1 each

360,000

360,000

360,000

360,000

Ordinary 'E' shares of £1 each

360,000

360,000

360,000

360,000

Ordinary 'F' shares of £1 each

360,000

360,000

360,000

360,000

1,800,064

1,800,064

1,800,064

1,800,064