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Company No: 02177642 (England and Wales)

TRETEC LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

TRETEC LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

TRETEC LIMITED

BALANCE SHEET

As at 30 April 2024
TRETEC LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 1,990 2,341
1,990 2,341
Current assets
Stocks 5 130 130
Debtors 6 19,502 6,005
Cash at bank and in hand 4,427 10,948
24,059 17,083
Creditors: amounts falling due within one year 7 ( 13,018) ( 8,861)
Net current assets 11,041 8,222
Total assets less current liabilities 13,031 10,563
Provision for liabilities ( 378) ( 445)
Net assets 12,653 10,118
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 12,553 10,018
Total shareholders' funds 12,653 10,118

For the financial year ending 30 April 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 Tretec Limited (registered number: 02177642) were approved and authorised for issue by the Board of Directors on 13 January 2025. They were signed on its behalf by:

Mr T D J Price
Director
TRETEC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
TRETEC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Tretec 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:
The White House
Scorrier
Redruth
TR16 5AT
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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

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:

Goodwill not amortised
Trademarks, patents and licences not amortised
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:

Plant and machinery 15 % 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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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

Goodwill Trademarks, patents
and licences
Total
£ £ £
Cost
At 01 May 2023 21,000 548 21,548
At 30 April 2024 21,000 548 21,548
Accumulated amortisation
At 01 May 2023 21,000 548 21,548
At 30 April 2024 21,000 548 21,548
Net book value
At 30 April 2024 0 0 0
At 30 April 2023 0 0 0

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 May 2023 21,098 21,098
At 30 April 2024 21,098 21,098
Accumulated depreciation
At 01 May 2023 18,757 18,757
Charge for the financial year 351 351
At 30 April 2024 19,108 19,108
Net book value
At 30 April 2024 1,990 1,990
At 30 April 2023 2,341 2,341

5. Stocks

2024 2023
£ £
Stocks 130 130

6. Debtors

2024 2023
£ £
Trade debtors 5,458 6,005
Other debtors 14,044 0
19,502 6,005

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 2,262 1,555
Accruals 1,625 1,625
Corporation tax 9,131 5,681
13,018 8,861

8. Called-up share capital

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