REGISTERED NUMBER: |
Trebartha Estates Limited |
Unaudited Financial Statements |
for the Year Ended 25th March 2024 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Profit and Loss Account |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST OR VALUATION |
At 26th March 2023 |
Additions |
At 25th March 2024 |
DEPRECIATION |
At 26th March 2023 |
Charge for year |
At 25th March 2024 |
NET BOOK VALUE |
At 25th March 2024 |
At 25th March 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 26th March 2023 |
Capital reduction | ( |
) |
At 25th March 2024 |
NET BOOK VALUE |
At 25th March 2024 |
At 25th March 2023 |
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 |
Additions |
Revaluations | 1,413,187 |
At 25th March 2024 |
NET BOOK VALUE |
At 25th March 2024 |
At 25th March 2023 |
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 |
Other debtors |
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 |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
25.3.24 | 25.3.23 |
£ | £ |
Bank loans |
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 |
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. |