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Registration number: 14634681

Trust Tegg Group Limited

Unaudited Filleted Financial Statements

for the Period from 2 February 2023 to 31 March 2024

 

Trust Tegg Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Trust Tegg Group Limited

Company Information

Director

Mr Phillip Tegg

Registered office

Jubilee Hall The Square
Fawley
Southampton
Hampshire
SO45 1DD

Accountants

Crunchwise
18 Elgin Close
Hythe
Southampton
Hampshire
SO45 6JG

 

Trust Tegg Group Limited

(Registration number: 14634681)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Investments

4

600

Current assets

 

Debtors

5

9,030

Cash at bank and in hand

 

208

 

9,238

Creditors: Amounts falling due within one year

6

(9,735)

Net current liabilities

 

(497)

Net assets

 

103

Capital and reserves

 

Called up share capital

7

103

Shareholders' funds

 

103

 

Trust Tegg Group Limited

(Registration number: 14634681)
Balance Sheet as at 31 March 2024

For the financial period ending 31 March 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 period in question in accordance with section 476; and

The director acknowledges his 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 October 2024
 

.........................................
Mr Phillip Tegg
Director

 

Trust Tegg Group Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2023 to 31 March 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:
Jubilee Hall The Square
Fawley
Southampton
Hampshire
SO45 1DD

These financial statements were authorised for issue by the director on 30 October 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Trust Tegg Group Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2023 to 31 March 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Investments

2024
£

Investments in subsidiaries

600

 

Trust Tegg Group Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2023 to 31 March 2024

Subsidiaries

£

Cost or valuation

Additions

600

Provision

Carrying amount

At 31 March 2024

600

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

Subsidiary undertakings

New Forest Car Sales Limited

Jubilee Hall The Square, Fawley, Southampton, England, SO45 1DD

England and Wales

Ordinary shares

100%

Tegg Motor Company Limited

Jubilee Hall The Square, Fawley, Southampton, England, SO45 1DD

England and Wales

Ordinary shares

100%

Trust Tegg Limited

Jubilee Hall The Square, Fawley, Southampton, England, SO45 1DD

England and Wales

Ordinary shares

100%

Tegg Stays Limited

Jubilee Hall The Square, Fawley, Southampton, England, SO45 1DD

England and Wales

Ordinary shares

100%

Tegg Properties Limited

Jubilee Hall The Square, Fawley, Southampton, England, SO45 1DD

England and Wales

Ordinary shares

100%

Tegg Residentials Ltd

Jubilee Hall The Square, Fawley, Southampton, England, SO45 1DD

England and Wales

Ordinary shares

100%

 

Trust Tegg Group Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2023 to 31 March 2024

Subsidiary undertakings

New Forest Car Sales Limited

The principal activity of New Forest Car Sales Limited is Sale of used cars and light motor vehicles.

Tegg Motor Company Limited

The principal activity of Tegg Motor Company Limited is Maintenance and repair of motor vehicles.

Trust Tegg Limited

The principal activity of Trust Tegg Limited is Activities of head offices.

Tegg Stays Limited

The principal activity of Tegg Stays Limited is Real Estate Agencies.

Tegg Properties Limited

The principal activity of Tegg Properties Limited is Buying and selling of own real estate.

Tegg Residentials Ltd

The principal activity of Tegg Residentials Ltd is Management of real estate on a fee or contract basis.

5

Debtors

Current

Note

2024
£

Amounts owed by related parties

8

9,030

   

9,030

 

Trust Tegg Group Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Other creditors

9,735

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100

Ordinary A shares of £1 each

1

1

Ordinary B shares of £1 each

1

1

Ordinary C shares of £1 each

1

1

103

103

8

Related party transactions

Summary of transactions with subsidiaries

Tegg Properties Limited

During the period, the company provided a loan of £400 to its subsidiary, Tegg Properties Limited. The loan is interest-free and repayable on demand. This transaction is classified as a related party transaction under accounting standards, as it involves a company over which the parent has control or significant influence. The loan reflects the parent company's commitment to providing ongoing financial support to assist the subsidiary in meeting its operational needs.

Tegg Residentials Ltd

During the period, the company provided a loan of £400 to its subsidiary, Tegg Residentials Limited. The loan is interest-free and repayable on demand. This transaction is classified as a related party transaction under accounting standards, as it involves a company over which the parent has control or significant influence. The loan reflects the parent company's commitment to providing ongoing financial support to assist the subsidiary in meeting its operational needs.

 

Trust Tegg Group Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2023 to 31 March 2024

Tegg Stays Limited

During the period, the company provided a loan of £4,820 to its subsidiary, Tegg Stays Limited. The loan is interest-free and repayable on demand. This transaction is classified as a related party transaction under accounting standards, as it involves a company over which the parent has control or significant influence. The loan reflects the parent company's commitment to providing ongoing financial support to assist the subsidiary in meeting its operational needs.

New Forest Car Sales Limited

During the period, the company provided a loan of £11,200 to its subsidiary, New Forest Car Sales Limited. The loan is interest-free and repayable on demand. This transaction is classified as a related party transaction under accounting standards, as it involves a company over which the parent has control or significant influence. The loan reflects the parent company's commitment to providing ongoing financial support to assist the subsidiary in meeting its operational needs.

Trust Tegg Limited

During the period, the company provided a loan of £47,500 to its subsidiary, Trust Tegg Limited. The loan is interest-free and repayable on demand. This transaction is classified as a related party transaction under accounting standards, as it involves a company over which the parent has control or significant influence. The loan reflects the parent company's commitment to providing ongoing financial support to assist the subsidiary in meeting its operational needs.

Tegg Motor Company

During the period, the company received a loan of £55,290 from its subsidiary company, Tegg Motor Company Limited.
The loan is interest-free and is repayable on demand. This transaction is classified as a related party transaction
under accounting standards, as it involves a party that has control or significant influence over the company.
The loan reflects the ongoing financial support from the parent company, aimed at assisting the company in
meeting its operational requirements.

Loans to related parties

2024

Subsidiary
£

Total
£

Advanced

64,320

64,320

At end of period

64,320

64,320

Loans from related parties

2024

Subsidiary
£

Total
£

Advanced

55,290

55,290

At end of period

55,290

55,290