Company registration number 03158056 (England and Wales)
TRAFALGAR 1805 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TRAFALGAR 1805 LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
TRAFALGAR 1805 LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
56,583
81,177
Investments
4
122,038
148,942
178,621
230,119
Current assets
Debtors
5
76,614
133,758
Investments
6
227
1,166
Cash at bank and in hand
8,925
21,451
85,766
156,375
Creditors: amounts falling due within one year
7
(153,879)
(79,632)
Net current (liabilities)/assets
(68,113)
76,743
Total assets less current liabilities
110,508
306,862
Creditors: amounts falling due after more than one year
8
(63,021)
(77,065)
Net assets
47,487
229,797
Capital and reserves
Called up share capital
9
101
101
Profit and loss reserves
47,386
229,696
Total equity
47,487
229,797

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TRAFALGAR 1805 LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 18 June 2025
J H Clarke
Director
Company registration number 03158056 (England and Wales)
TRAFALGAR 1805 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Trafalgar 1805 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 90 Jermyn Street, London, SW1Y 6JD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the amounts derived from the provision of services which fall within the company's principal activity, stated net of value added tax. Turnover from rendering of services is recognised when services are rendered, no matter when cash is received.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% on cost
Computer equipment
33.33% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Listed investments are stated at market value and income from investments includes distributions received in the year, profit and losses on disposals and profit and losses on revaluation. Changes in fair value are recognised in the profit and loss account.

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

TRAFALGAR 1805 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TRAFALGAR 1805 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.13

Current asset investments

Current asset investments are stated at market value at the year end with any increase or decrease recognised in the profit and loss account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
3
TRAFALGAR 1805 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
107,953
Additions
1,208
At 31 December 2023
109,161
Depreciation and impairment
At 1 January 2023
26,776
Depreciation charged in the year
25,802
At 31 December 2023
52,578
Carrying amount
At 31 December 2023
56,583
At 31 December 2022
81,177
4
Fixed asset investments
2023
2022
£
£
Investments
5,589
5,589
Listed investments
116,449
143,353
122,038
148,942

Fixed asset investments of £5,589 (2022: £5,589) relate to antiques and alcohol held at fair value by the company.

Listed investments are stated at their market value as at the balance sheet date.

TRAFALGAR 1805 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments other than loans
Listed investments
Total
£
£
£
Cost or valuation
At 1 January 2023
5,589
143,353
148,942
Additions
-
6,634
6,634
Valuation changes
-
(20,273)
(20,273)
Exchange rate adjustment
-
(68)
(68)
Disposals
-
(13,197)
(13,197)
At 31 December 2023
5,589
116,449
122,038
Carrying amount
At 31 December 2023
5,589
116,449
122,038
At 31 December 2022
5,589
143,353
148,942
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
12,570
Corporation tax recoverable
116
-
0
Other debtors
76,498
121,188
76,614
133,758
6
Current asset investments
2023
2022
£
£
Listed investments
227
1,166
TRAFALGAR 1805 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan and overdrafts
5,804
5,637
Trade creditors
20,668
22,684
Taxation and social security
2,332
2,209
Other creditors
125,075
49,102
153,879
79,632

Included in other creditors are current hire purchase obligations amounting to £8,268 (2022: £8,268). The hire purchase obligations are secured against the financed assets to which they relate.

8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loan
8,423
14,199
Other creditors
54,598
62,866
63,021
77,065

The bank loan is repayable in equal instalments over 5 years from June 2021. The loan is guaranteed by the Government and carries an interest rate of 2.50% p.a.

 

Other creditors relate to non-current hire purchase obligations which are secured against the financed assets to which they relate.

9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
Preference share capital
Issued and fully paid
1 Preference share of £1 each
1
1
Preference shares classified as equity
1
1
Preference shares classified as liabilities
-
-
Total equity share capital
101
101

The ordinary and preference shares rank pari passu in all respects save that the director may recommend and pay dividends on one class of share and not the other, and vice versa.

 

TRAFALGAR 1805 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
10
Directors' transactions

Included within other creditors is an amount of £51,276 (2022: £26,779) the company owed to the director. The loan is interest free and repayable on demand.

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