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Registered number: 10179261
Trigpoint Property Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10179261
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 205,900 207,387
205,900 207,387
CURRENT ASSETS
Debtors 5 1,416 394
Cash at bank and in hand 8,694 5,026
10,110 5,420
Creditors: Amounts Falling Due Within One Year 6 (232,911 ) (236,047 )
NET CURRENT ASSETS (LIABILITIES) (222,801 ) (230,627 )
TOTAL ASSETS LESS CURRENT LIABILITIES (16,901 ) (23,240 )
NET LIABILITIES (16,901 ) (23,240 )
CAPITAL AND RESERVES
Called up share capital 7 169 169
Share premium account 1,428 1,428
Revaluation reserve 8 (10,469 ) (10,469 )
Profit and Loss Account (8,029 ) (14,368 )
SHAREHOLDERS' FUNDS (16,901) (23,240)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Jonathan Dakin
Director
26/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Trigpoint Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10179261 . The registered office is Office 15 Bramley House 2a, Bramley Road, Long Eaton, Nottinghamshire, NG10 3SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Fixtures & Fittings 20% reducing balance basis
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 199,950 21,309 221,259
As at 31 May 2024 199,950 21,309 221,259
Depreciation
As at 1 June 2023 - 13,872 13,872
Provided during the period - 1,487 1,487
As at 31 May 2024 - 15,359 15,359
Net Book Value
As at 31 May 2024 199,950 5,950 205,900
As at 1 June 2023 199,950 7,437 207,387
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The property has been reclassified during the year.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,022 -
Other debtors 394 394
1,416 394
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income - 721
Director's loan account 232,911 235,326
232,911 236,047
8. Reserves
Revaluation Reserve
£
As at 1 June 2023 (10,469 )
As at 31 May 2024 (10,469 )
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr Johnathan Dakin by virtue of his ownership of 74% of the issued share capital in the company.
Page 4