REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
TRIAD DEVELOPMENTS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
TRIAD DEVELOPMENTS LTD |
TRIAD DEVELOPMENTS LTD (REGISTERED NUMBER: 09430281) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 2 |
TRIAD DEVELOPMENTS LTD (REGISTERED NUMBER: 09430281) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
Current assets |
Stocks |
Debtors | 4 |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 6 |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
TRIAD DEVELOPMENTS LTD (REGISTERED NUMBER: 09430281) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | Statutory information |
Triad Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09430281. The registered office and business address is 14 Beaucroft Road, Wimborne, Dorset, BH21 2QW. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents income from the sale of land and property. Turnover is recognised at legal completion and represents the amounts receivable for the property, net of discounts and VAT, where applicable. |
Stocks |
Stock and Work In Progress are valued at the lower of cost and net realisable value. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
Group accounts |
The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
3. | Employees and directors |
The average number of employees during the year was |
TRIAD DEVELOPMENTS LTD (REGISTERED NUMBER: 09430281) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other debtors |
VAT |
5. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Directors' current accounts | - | 150,000 |
Accruals and deferred income |
6. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
7. | Secured debts |
All monies owing to, or to become owing to, Lloyds Bank PLC are secured by way of a legal charge, dated 20 March 2017, over all of the assets of the company. |
All monies owing to, Lloyds Bank PLC in relation to Ash Tree Farm, Zoar Lane, Fifehead St Quintin, DT10 2AP are secured by way of a mortgage deed, dated 25 February 2022, containing a floating charge over all of the assets of the company. |
All monies owing to, Lloyds Bank PLC in relation to Barrow View Farm, Broad Oak, Sturminster Newton, DT10 2HG are secured by way of a mortgage deed, dated 25 November 2022, containing a floating charge over all of the assets of the company. |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 100 | 100 |
9. | Ultimate controlling party |
The company is ultimately controlled by the director Mr A Trimmer, by virtue of his 51% holding in the voting share capital of the parent company, Taron Group Limited. |