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Registration number: 10555890

Trevibban Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Trevibban Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Trevibban Ltd

Company Information

Director

Dr Engin Mumcuoglu

Registered office

Dark Lane
Nr Padstow
Wadebridge
Cornwall
PL27 7SE

Accountants

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus. Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Trevibban Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Trevibban Ltd for the year ended 31 January 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Trevibban Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Trevibban Ltd and state those matters that we have agreed to state to the Board of Directors of Trevibban Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trevibban Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Trevibban Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Trevibban Ltd. You consider that Trevibban Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Trevibban Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus. Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

30 September 2024

 

Trevibban Ltd

(Registration number: 10555890)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

230,735

252,334

Current assets

 

Debtors

5

119,575

70,334

Creditors: Amounts falling due within one year

6

(12,269)

(3,324)

Net current assets

 

107,306

67,010

Total assets less current liabilities

 

338,041

319,344

Creditors: Amounts falling due after more than one year

6

(497,540)

(499,744)

Net liabilities

 

(159,499)

(180,400)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(159,501)

(180,402)

Shareholders' deficit

 

(159,499)

(180,400)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2024
 

.........................................
Dr Engin Mumcuoglu
Director

 

Trevibban Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
Dark Lane
Nr Padstow
Wadebridge
Cornwall
PL27 7SE

These financial statements were authorised for issue by the director on 30 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Trevibban Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold land and buildings

2% straight line

Plant and machinery

10-15% straight line

Fixtures and fittings

15-33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Trevibban Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Trevibban Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

243,054

26,475

98,390

367,919

At 31 January 2024

243,054

26,475

98,390

367,919

Depreciation

At 1 February 2023

21,070

18,232

76,283

115,585

Charge for the year

4,861

3,879

12,859

21,599

At 31 January 2024

25,931

22,111

89,142

137,184

Carrying amount

At 31 January 2024

217,123

4,364

9,248

230,735

At 31 January 2023

221,984

8,243

22,107

252,334

5

Debtors

Current

2024
£

2023
£

Other debtors

119,575

70,334

 

119,575

70,334

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

2,238

2,239

Accruals and deferred income

 

1,085

1,085

Other creditors

 

8,946

-

 

12,269

3,324

Creditors: amounts falling due after more than one year

 

Trevibban Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

497,540

499,744

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

3,066

5,270

Other borrowings

494,474

494,474

497,540

499,744

2024
£

2023
£

Current loans and borrowings

Bank borrowings

2,238

2,239

9

Related party transactions

Included in other debtors is a balance of £67,971 (2023: £70,334) due to the company from Trevibban Mill Ltd (Company Number: 09032261). A Company in which Dr E Mumcuoglu is a director and shareholder. During the year management fees were charged to Trevibban Mill Ltd totalling £24,000.

 

Trevibban Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Key management personnel

Dr Engin Mumcuoglu (director)

Summary of transactions with key management

Director's loan account
 The loan is interest free and repayable on demand of the Company. At the balance sheet date £494,474 (2023: £494,474) was due to the director.