Trendgrain Limited 04198203 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Provision of rental properties in Lincoln Digita Accounts Production Advanced 6.30.9574.0 true 04198203 2023-05-01 2024-04-30 04198203 2024-04-30 04198203 bus:Director4 1 2024-04-30 04198203 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-04-30 04198203 core:OtherReservesSubtotal 2024-04-30 04198203 core:RetainedEarningsAccumulatedLosses 2024-04-30 04198203 core:ShareCapital 2024-04-30 04198203 core:CurrentFinancialInstruments 2024-04-30 04198203 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 04198203 core:Non-currentFinancialInstruments 2024-04-30 04198203 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 04198203 bus:SmallEntities 2023-05-01 2024-04-30 04198203 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04198203 bus:FilletedAccounts 2023-05-01 2024-04-30 04198203 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04198203 bus:RegisteredOffice 2023-05-01 2024-04-30 04198203 bus:Director1 2023-05-01 2024-04-30 04198203 bus:Director4 2023-05-01 2024-04-30 04198203 bus:Director4 1 2023-05-01 2024-04-30 04198203 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-05-01 2024-04-30 04198203 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04198203 countries:UnitedKingdom 2023-05-01 2024-04-30 04198203 2023-04-30 04198203 bus:Director4 1 2023-04-30 04198203 2022-05-01 2023-04-30 04198203 2023-04-30 04198203 bus:Director4 1 2023-04-30 04198203 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-30 04198203 core:OtherReservesSubtotal 2023-04-30 04198203 core:RetainedEarningsAccumulatedLosses 2023-04-30 04198203 core:ShareCapital 2023-04-30 04198203 core:CurrentFinancialInstruments 2023-04-30 04198203 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 04198203 core:Non-currentFinancialInstruments 2023-04-30 04198203 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 04198203 bus:Director4 1 2022-05-01 2023-04-30 04198203 bus:Director4 1 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04198203

Trendgrain Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Trendgrain Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Trendgrain Limited

(Registration number: 04198203)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

2,800,000

2,800,000

Current assets

 

Debtors

5

31,809

30,637

Cash at bank and in hand

 

9,079

3,552

 

40,888

34,189

Creditors: Amounts falling due within one year

6

(129,075)

(78,383)

Net current liabilities

 

(88,187)

(44,194)

Total assets less current liabilities

 

2,711,813

2,755,806

Creditors: Amounts falling due after more than one year

6

(1,357,359)

(1,396,792)

Provisions for liabilities

(84,876)

(84,876)

Net assets

 

1,269,578

1,274,138

Capital and reserves

 

Called up share capital

7

100

100

Other reserves

834,348

834,348

Retained earnings

435,130

439,690

Shareholders' funds

 

1,269,578

1,274,138

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 members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

.........................................
Mrs M Cheriton-Metcalfe
Director

.........................................
Mr C Metcalfe
Director

 
     
 

Trendgrain Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
93 Canwick Road
Lincoln
Lincolnshire
LN5 8HE

These financial statements were authorised for issue by the Board on 26 February 2025.

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Trendgrain Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 5 (2023 - 5).

4

Investment properties

2024
£

At 1 May

2,800,000

At 30 April

2,800,000

The fair value of the investment properties have been determined by the directors on an open market basis.

There has been no valuation of investment property by an independent valuer.

The historical cost of this class of asset is £1,880,776 (2023: £1,880,776). The depreciation on this historical cost is £nil (2023: £nil).

5

Debtors

Current

2024
£

2023
£

Trade debtors

10,125

2,056

Prepayments

18,608

16,257

Other debtors

3,076

12,324

 

31,809

30,637

 

Trendgrain Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

39,433

39,433

Trade creditors

 

19,872

13,868

Taxation and social security

 

2,324

3,592

Accruals and deferred income

 

22,447

19,475

Other creditors

 

44,999

2,015

 

129,075

78,383

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £39,433 (2023 - £39,433).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,357,359

1,396,792

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,357,359 (2023 - £1,396,792).

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

10,000

100

10,000

100

       
 

Trendgrain Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,357,359

1,396,792

Current loans and borrowings

2024
£

2023
£

Bank borrowings

39,433

39,433

9

Related party transactions

Transactions with Directors

2024

At 1 May 2023
£

Advances to Director
£

Repayments by Director
£

At 30 April 2024
£

Mr C Metcalfe

Director's loan - interest charged at HMRC official rate of interest

8,289

20,297

(28,586)

-

2023

At 1 May 2022
£

Repayments by Director
£

At 30 April 2023
£

Mr C Metcalfe

Director's loan - interest charged at HMRC official rate of interest

8,387

(98)

8,289