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Company No: 01248644 (England and Wales)

K H J TRETHEWEY AND SONS LIMITED

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

K H J TRETHEWEY AND SONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

K H J TRETHEWEY AND SONS LIMITED

BALANCE SHEET

As at 31 August 2024
K H J TRETHEWEY AND SONS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 100,000 390,000
Investments 4 171,556 155,109
271,556 545,109
Current assets
Debtors 5 0 1,700
Cash at bank and in hand 233,407 81,745
233,407 83,445
Creditors: amounts falling due within one year 6 ( 1,896) ( 31,966)
Net current assets 231,511 51,479
Total assets less current liabilities 503,067 596,588
Provision for liabilities ( 16,580) ( 15,369)
Net assets 486,487 581,219
Capital and reserves
Called-up share capital 7 150 150
Other reserves 158,178 308,661
Profit and loss account 328,159 272,408
Total shareholders' funds 486,487 581,219

For the financial year ending 31 August 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 K H J Trethewey and Sons Limited (registered number: 01248644) were approved and authorised for issue by the Board of Directors on 13 May 2025. They were signed on its behalf by:

Mrs L M Trethewey
Director
Mr R H E Trethewey
Director
K H J TRETHEWEY AND SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
K H J TRETHEWEY AND SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

K H J Trethewey and Sons 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 Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is Three Blades, Trispen Hill, Trispen, Truro, TR4 9AY.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 September 2023 390,000
Disposals (290,000)
As at 31 August 2024 100,000

Valuation

The directors have considered the value of the investment property in light of the requirement for a valuation under the accounting standard. In their considered opinion the property would be worth an estimated £100,000 (2023 - £390,000) if it were to be offered for sale to an unconnected person.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 17,233 141,042

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 September 2023 155,109 155,109
Disposals ( 555) ( 555)
Movement in fair value 17,002 17,002
At 31 August 2024 171,556 171,556
Carrying value at 31 August 2024 171,556 171,556
Carrying value at 31 August 2023 155,109 155,109

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the shares on acquisition was £61,006 (2023- £61,561) .

5. Debtors

2024 2023
£ £
Other debtors 0 1,700

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 1,896 31,966

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Ordinary M Shares shares of £ 1.00 each 50 50
50 Ordinary P Shares shares of £ 1.00 each 50 50
50 Ordinary R Shares shares of £ 1.00 each 50 50
150 150