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REGISTERED NUMBER: 12621533 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Triang Developments Limited

Triang Developments Limited (Registered number: 12621533)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Triang Developments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J Owen
Mrs R Owen





REGISTERED OFFICE: Hafren House
Llandrinio
Llanymynech
Powys
SY22 6SG





REGISTERED NUMBER: 12621533 (England and Wales)





ACCOUNTANTS: Pareto Tax & Wealth LLP
The Old Schoolhouse,
5-7 Byrom Street,
Manchester
M3 4PF

Triang Developments Limited (Registered number: 12621533)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 713,557 568,743
Investment property 5 8,020,256 7,074,216
8,733,813 7,642,959

CURRENT ASSETS
Stocks 172,541 -
Debtors 6 109,287 207,420
Cash at bank 168,686 251,717
450,514 459,137
CREDITORS
Amounts falling due within one year 7 738,622 249,951
NET CURRENT (LIABILITIES)/ASSETS (288,108 ) 209,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,445,705

7,852,145

CREDITORS
Amounts falling due after more than one
year

8

9,000,000

8,000,000
NET LIABILITIES (554,295 ) (147,855 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (554,297 ) (147,857 )
SHAREHOLDERS' FUNDS (554,295 ) (147,855 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Triang Developments Limited (Registered number: 12621533)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





J Owen - Director


Triang Developments Limited (Registered number: 12621533)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Triang Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Office equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Triang Developments Limited (Registered number: 12621533)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Going concern
The accounts have been prepared on the going concern basis due to the continued support of the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 360,000 55,703 204,072 10,240 630,015
Additions 69,504 - 262,708 2,958 335,170
Disposals - - (133,058 ) - (133,058 )
At 31 March 2024 429,504 55,703 333,722 13,198 832,127
DEPRECIATION
At 1 April 2023 7,333 8,444 42,297 3,198 61,272
Charge for year 18,290 8,444 53,722 3,453 83,909
Eliminated on disposal - - (26,611 ) - (26,611 )
At 31 March 2024 25,623 16,888 69,408 6,651 118,570
NET BOOK VALUE
At 31 March 2024 403,881 38,815 264,314 6,547 713,557
At 31 March 2023 352,667 47,259 161,775 7,042 568,743

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 7,074,216
Additions 946,040
At 31 March 2024 8,020,256
NET BOOK VALUE
At 31 March 2024 8,020,256
At 31 March 2023 7,074,216

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 76,495 2,679
Other debtors 1,306 2,438
VAT 24,462 198,431
Prepayments and accrued income 7,024 3,872
109,287 207,420

Triang Developments Limited (Registered number: 12621533)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Social security and other taxes 79 -
Other creditors 98,652 4,494
Directors' current accounts 520,238 178,259
Accruals and deferred income 119,653 67,198
738,622 249,951

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Directors' loan accounts 9,000,000 8,000,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J Owen and Mrs R Owen
Balance outstanding at start of year (8,178,259 ) (4,703,927 )
Amounts advanced (1,341,979 ) (3,474,332 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,520,238 ) (8,178,259 )

10. RELATED PARTY DISCLOSURES

At 31 March 2024 the company was owed £100 (2023: £Nil) by Triang Leisure LLP, an entity under common control.
The amount is interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their shareholdings.