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Trail View Leisure Ltd
Trading as Trail View Campsite
Unaudited filleted financial statements
28 February 2024
Company registration number: 14647655 (England and Wales)
Trail View Leisure Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Trail View Leisure Ltd
Directors and other information
Director Mrs. L. J. Platts (Appointed 8 February 2023)
Secretary Robert Christopher Platts
Company number 14647655
Registered office Jessop House 6 Outrams Wharf
Little Eaton
Derby
DE21 5EL
Business address Bank Top Barn
Biggin by Hartington Road
Buxton
SK17 0DS
Accountants Marshall Smalley Preece
Chartered Certified Accountants
Jessop House
Outrams Wharf
Little Eaton
Derby
DE21 5EL
Trail View Leisure Ltd
Statement of financial position
28 February 2024
28/02/24
Note £ £
Fixed assets
Tangible assets 4 6,480
_______
6,480
Current assets
Cash at bank and in hand 2,419
_______
2,419
Creditors: amounts falling due
within one year 5 ( 6,287)
_______
Net current liabilities ( 3,868)
_______
Total assets less current liabilities 2,612
Creditors: amounts falling due
after more than one year 6 ( 3,888)
Provisions for liabilities ( 270)
_______
Net liabilities ( 1,546)
_______
Capital and reserves
Called up share capital 100
Profit and loss account ( 1,646)
_______
Shareholder deficit ( 1,546)
_______
For the period ending 28 February 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 member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 November 2024 , and are signed on behalf of the board by:
Mrs. L. J. Platts
Director
Company registration number: 14647655
Trail View Leisure Ltd
Statement of changes in equity
Period ended 28 February 2024
Called up share capital Profit and loss account Total
£ £ £
At 8 February 2023 - - -
Loss for the period - ( 1,646) ( 1,646)
_______ _______ _______
Total comprehensive income for the period - ( 1,646) ( 1,646)
Issue of shares 100 - 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 28 February 2024 100 ( 1,646) ( 1,546)
_______ _______ _______
Trail View Leisure Ltd
Notes to the financial statements
Period ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jessop House 6 Outrams Wharf, Little Eaton, Derby, DE21 5EL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Plant and machinery Total
£ £
Cost
At 8 February 2023 - -
Additions 6,480 6,480
_______ _______
At 28 February 2024 6,480 6,480
_______ _______
Depreciation
At 8 February 2023 and 28 February 2024 - -
_______ _______
Carrying amount
At 28 February 2024 6,480 6,480
_______ _______
5. Creditors: amounts falling due within one year
28/02/24
£
Payments received on account 1,039
Accruals 1,080
Obligations under finance leases 1,762
Director loan accounts 2,406
_______
6,287
_______
6. Creditors: amounts falling due after more than one year
28/02/24
£
Obligations under finance leases 3,888
_______
7. Directors advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Period 08/02/23 to 28/02/24
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mrs. L. J. Platts - 100 ( 2,506) ( 2,406)
_______ _______ _______ _______
8. Controlling party
The ultimate controlling party is L. Platts who owns 100% of the company's issued ordinary share capital.
Trail View Leisure Ltd
The following pages do not form part of the statutory accounts.
Trail View Leisure Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Trail View Leisure Ltd
Period ended 28 February 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the period ended 28 February 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Marshall Smalley Preece
Chartered Certified Accountants
Jessop House
Outrams Wharf
Little Eaton
Derby
DE21 5EL
5 November 2024