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REGISTERED NUMBER: 12651982 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

TRINITY PROPERTY (SW) LTD

TRINITY PROPERTY (SW) LTD (REGISTERED NUMBER: 12651982)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRINITY PROPERTY (SW) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M J Franks
M Lovegrove
R Sundercombe





SECRETARY: Miss M Hope





REGISTERED OFFICE: ESAM Building
Carluddon Technology Park
Carluddon
St Austell
Cornwall
PL26 8WE





REGISTERED NUMBER: 12651982 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

TRINITY PROPERTY (SW) LTD (REGISTERED NUMBER: 12651982)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,370 26,871
Investment property 5 860,873 860,873
884,243 887,744

CURRENT ASSETS
Debtors 6 259 6,567
Cash at bank 1,316 3,392
1,575 9,959
CREDITORS
Amounts falling due within one year 7 11,650 17,688
NET CURRENT LIABILITIES (10,075 ) (7,729 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

874,168

880,015

CREDITORS
Amounts falling due after more than one
year

8

(836,602

)

(824,571

)

PROVISIONS FOR LIABILITIES (24,861 ) (15,615 )
NET ASSETS 12,705 39,829

CAPITAL AND RESERVES
Called up share capital 3 3
Fair value reserve 11 74,584 74,584
Retained earnings (61,882 ) (34,758 )
12,705 39,829

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

TRINITY PROPERTY (SW) LTD (REGISTERED NUMBER: 12651982)

BALANCE SHEET - continued
31 MAY 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 28 October 2024 and were signed on its behalf by:





M Lovegrove - Director


TRINITY PROPERTY (SW) LTD (REGISTERED NUMBER: 12651982)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Trinity Property (SW) Ltd 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 as modified by the revaluation of certain assets.

At the balance sheet date, the company has net current liabilities of £10,075.

The accounts are prepared on a going concern basis. In the opinion of the Directors, the company retains the support of its key creditors.

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

Revenue is recognised to turnover in line with rent payments received, and the periods to which those payments relate.

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 etc - 10% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

TRINITY PROPERTY (SW) LTD (REGISTERED NUMBER: 12651982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 35,009
DEPRECIATION
At 1 June 2023 8,138
Charge for year 3,501
At 31 May 2024 11,639
NET BOOK VALUE
At 31 May 2024 23,370
At 31 May 2023 26,871

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 860,873
NET BOOK VALUE
At 31 May 2024 860,873
At 31 May 2023 860,873

In the Opinion of the Directors, the carrying value of the investment properties reflect their market value at 31 May 2024.

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2023 99,445
Cost 761,428
860,873

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,690
Other debtors 259 3,877
259 6,567

TRINITY PROPERTY (SW) LTD (REGISTERED NUMBER: 12651982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 5,963 5,963
Trade creditors 2,854 2,908
Other creditors 2,833 8,817
11,650 17,688

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 378,030 384,699
Other creditors 458,572 439,872
836,602 824,571

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 5 years + 344,760 351,429
Other loans more 5yrs instal 458,572 439,872
803,332 791,301

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,963 5,963

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,261 6,261

Amounts falling due between two and five years:
Bank loans - 2-5 years 27,009 27,009

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 5 years + 344,760 351,429
Other loans more 5yrs instal 458,572 439,872
803,332 791,301

Classified within other loans payable in more than five years is an interest free loan repayable to a companies controlled by the Directors. The loan stipulates that repayments will be made when agreed by the Directors. The Directors have estimated that no repayments will be made within the next 5 years.

TRINITY PROPERTY (SW) LTD (REGISTERED NUMBER: 12651982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 383,993 390,662

11. RESERVES
Fair
value
reserve
£   
At 1 June 2023
and 31 May 2024 74,584

12. RELATED PARTY DISCLOSURES

Companies associated with the Directors advanced the company net funds of £18,700 (2023: £166,061) during the period,

At 31 May 2024, the associated companies were owed £458,572. (2023: £439,872.)

Of the £458,572 owing at 31 May 2024, the loan is classified as being repayable in more than 5 years with £nil being repaid within 5 years.

The loans are included within other creditors. The loans are not secured, with interest being charged of £nil during the period. (2023: £1,506)