IRIS Accounts Production v24.3.0.553 00363312 Board of Directors 26.3.23 25.3.24 25.3.24 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003633122023-03-25003633122024-03-25003633122023-03-262024-03-25003633122022-03-25003633122022-03-262023-03-25003633122023-03-2500363312ns15:EnglandWales2023-03-262024-03-2500363312ns14:PoundSterling2023-03-262024-03-2500363312ns10:Director12023-03-262024-03-2500363312ns10:PrivateLimitedCompanyLtd2023-03-262024-03-2500363312ns10:SmallEntities2023-03-262024-03-2500363312ns10:AuditExempt-NoAccountantsReport2023-03-262024-03-2500363312ns10:SmallCompaniesRegimeForDirectorsReport2023-03-262024-03-2500363312ns10:SmallCompaniesRegimeForAccounts2023-03-262024-03-2500363312ns10:FullAccounts2023-03-262024-03-2500363312ns10:Director22023-03-262024-03-2500363312ns10:Director32023-03-262024-03-2500363312ns10:Director42023-03-262024-03-2500363312ns10:Director52023-03-262024-03-2500363312ns10:Director62023-03-262024-03-2500363312ns10:Director72023-03-262024-03-2500363312ns10:CompanySecretary12023-03-262024-03-2500363312ns10:RegisteredOffice2023-03-262024-03-2500363312ns5:CurrentFinancialInstruments2024-03-2500363312ns5:CurrentFinancialInstruments2023-03-2500363312ns5:Non-currentFinancialInstruments2024-03-2500363312ns5:Non-currentFinancialInstruments2023-03-2500363312ns5:ShareCapital2024-03-2500363312ns5:ShareCapital2023-03-2500363312ns5:RetainedEarningsAccumulatedLosses2024-03-2500363312ns5:RetainedEarningsAccumulatedLosses2023-03-2500363312ns5:PlantMachinery2023-03-262024-03-2500363312ns5:PlantMachinery2023-03-2500363312ns5:PlantMachinery2024-03-2500363312ns5:PlantMachinery2023-03-2500363312ns5:CostValuation2023-03-2500363312ns5:TransfersBetweenInvestmentClassesIncreaseDecreaseInInvestments2024-03-2500363312ns5:CostValuation2024-03-2500363312ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-2500363312ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-2500363312ns5:Secured2024-03-2500363312ns5:Secured2023-03-25
REGISTERED NUMBER: 00363312 (England and Wales)












Trebartha Estates Limited

Unaudited Financial Statements

for the Year Ended 25th March 2024






Trebartha Estates Limited (Registered number: 00363312)






Contents of the Financial Statements
for the Year Ended 25th March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Trebartha Estates Limited

Company Information
for the Year Ended 25th March 2024







DIRECTORS: AJ Robson
J R T Barker
R J Latham
Mrs C E Latham
P B G Latham
R A C Latham
Mrs P A J Latham





SECRETARY: R A C Latham





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 00363312 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Trebartha Estates Limited (Registered number: 00363312)

Statement of Financial Position
25th March 2024

25.3.24 25.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 25,582 9,528
Investments 5 411,314 515,006
Investment property 6 36,727,042 35,282,623
37,163,938 35,807,157

CURRENT ASSETS
Debtors 7 125,043 73,293
Cash at bank 281,182 692,690
406,225 765,983
CREDITORS
Amounts falling due within one year 8 (183,351 ) (307,583 )
NET CURRENT ASSETS 222,874 458,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,386,812

36,265,557

CREDITORS
Amounts falling due after more than one
year

9

(193,983

)

(470,886

)

PROVISIONS FOR LIABILITIES (8,846,540 ) (8,500,351 )
NET ASSETS 28,346,289 27,294,320

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Profit and Loss Account 28,306,289 27,254,320
SHAREHOLDERS' FUNDS 28,346,289 27,294,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25th March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 25th 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.

Trebartha Estates Limited (Registered number: 00363312)

Statement of Financial Position - continued
25th 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 28th August 2024 and were signed on its behalf by:





R J Latham - Director


Trebartha Estates Limited (Registered number: 00363312)

Notes to the Financial Statements
for the Year Ended 25th March 2024

1. STATUTORY INFORMATION

Trebartha Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents and water charges receivable in the year. It also includes income from Holiday Letting and Woodlands. Turnover is shown excluding value added tax.

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 - 25% on cost, 25% on reducing balance and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is included at fair value. Gains are recognied in the profit and loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Trebartha Estates Limited (Registered number: 00363312)

Notes to the Financial Statements - continued
for the Year Ended 25th March 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST OR VALUATION
At 26th March 2023 155,123
Additions 22,471
At 25th March 2024 177,594
DEPRECIATION
At 26th March 2023 145,595
Charge for year 6,417
At 25th March 2024 152,012
NET BOOK VALUE
At 25th March 2024 25,582
At 25th March 2023 9,528


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 26th March 2023 515,006
Capital reduction (103,692 )
At 25th March 2024 411,314
NET BOOK VALUE
At 25th March 2024 411,314
At 25th March 2023 515,006

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Associated company

Trebartha Hydro Ltd - A 49% shareholding was acquired on 9th March 2015.

On 21st August 2023, a capital reduction was undertaken by Trebartha Hydro Ltd resulting in a repayment of share capital of £103,692

Trebartha Estates Limited (Registered number: 00363312)

Notes to the Financial Statements - continued
for the Year Ended 25th March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 26th March 2023 35,282,623
Additions 31,232
Revaluations 1,413,187
At 25th March 2024 36,727,042
NET BOOK VALUE
At 25th March 2024 36,727,042
At 25th March 2023 35,282,623

Fair value at 25th March 2024 is represented by:
£   
Valuation in 2007 1,966,601
Valuation in 2008 25,440
Valuation in 2009 147,770
Valuation in 2010 303,835
Valuation in 2011 896,043
Valuation in 2012 3,599,573
Valuation in 2018 15,718,768
Valuation in 2022 9,597,801
Valuation in 2023 2,102,089
Valuation in 2024 1,413,187
Cost 955,935
36,727,042

If investment property had not been revalued it would have been included at the following historical cost:

25.3.24 25.3.23
£    £   
Cost 955,935 908,204

Investment property was valued on an open market basis on 25th March 2024 by the board of Directors of the Company .

Note that the revaluation shown in 2007 contains all pre 2007 revaluations.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
25.3.24 25.3.23
£    £   
Trade debtors 80,414 55,727
Other debtors 44,629 17,566
125,043 73,293

Trebartha Estates Limited (Registered number: 00363312)

Notes to the Financial Statements - continued
for the Year Ended 25th March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
25.3.24 25.3.23
£    £   
Bank loans and overdrafts 35,359 68,423
Trade creditors 41,121 78,154
Taxation and social security 22,688 68,068
Other creditors 84,183 92,938
183,351 307,583

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
25.3.24 25.3.23
£    £   
Bank loans 193,983 470,886

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 52,548 197,193

10. SECURED DEBTS

The following secured debts are included within creditors:

25.3.24 25.3.23
£    £   
Bank loans 229,342 539,309

Barclays Bank PLC has a fixed and floating charge over the company's assets, property and undertakings.

11. RELATED PARTY DISCLOSURES

Trebartha Estates Ltd owns 49% of the issued share capital of Trebartha Hydro Ltd. At the year end Trebartha Hydro Ltd owed £24,269 (2023 £14,328) of generation rent calculated as 7.5% of income. The total charge for generation rent for the year was £51,866 (2023: £27,524). Trebartha Hydro Ltd rents the land for the Hydro plant from Trebartha Estates at £20,000 (2023: £20,000) per annum.

12. ULTIMATE CONTROLLING PARTY

No single entity or person has control over the company.