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Company No: 07848198 (England and Wales)

TRENONA LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

TRENONA LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TRENONA LIMITED

BALANCE SHEET

As at 31 March 2024
TRENONA LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 1,679 17,333
Tangible assets 4 3,295 4,393
4,974 21,726
Current assets
Stocks 5 13,925 13,925
Cash at bank and in hand 287 281
14,212 14,206
Creditors: amounts falling due within one year 6 ( 139,683) ( 136,709)
Net current liabilities (125,471) (122,503)
Total assets less current liabilities (120,497) (100,777)
Net liabilities ( 120,497) ( 100,777)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 120,597 ) ( 100,877 )
Total shareholders' deficit ( 120,497) ( 100,777)

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

Directors' responsibilities:

The financial statements of Trenona Limited (registered number: 07848198) were approved and authorised for issue by the Board of Directors on 25 October 2024. They were signed on its behalf by:

Mrs P Carbis
Director
Mr D S P Carbis
Director
TRENONA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TRENONA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Trenona Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is: Trenona Farm
Ruan High Lanes
Truro
Cornwall
TR2 5JS
United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £120,497. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 April 2023 17,333 17,333
At 31 March 2024 17,333 17,333
Accumulated amortisation
At 01 April 2023 0 0
Charge for the financial year 15,654 15,654
At 31 March 2024 15,654 15,654
Net book value
At 31 March 2024 1,679 1,679
At 31 March 2023 17,333 17,333

4. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 April 2023 6,465 1,356 7,821
At 31 March 2024 6,465 1,356 7,821
Accumulated depreciation
At 01 April 2023 2,133 1,295 3,428
Charge for the financial year 1,083 15 1,098
At 31 March 2024 3,216 1,310 4,526
Net book value
At 31 March 2024 3,249 46 3,295
At 31 March 2023 4,332 61 4,393

5. Stocks

2024 2023
£ £
Stocks 13,925 13,925

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 38 15
Amounts owed to directors 138,844 135,894
Accruals 801 800
139,683 136,709

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100