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REGISTERED NUMBER: 01290401 (England and Wales)


















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Trevails of Truro Limited

Trevails of Truro Limited (Registered number: 01290401)

Contents of the Financial Statements
for the Year Ended 31 January 2025










Page

Company Information 1

Report of the Directors 2

Income Statement 3

Statement of Financial Position 4

Notes to the Financial Statements 6


Trevails of Truro Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: Nicholas John Trevail
Oliver Benjamin Trevail





REGISTERED OFFICE: 31-32 River Street
Truro
Cornwall





REGISTERED NUMBER: 01290401 (England and Wales)





ACCOUNTANTS: Southshore Accounting Services
66, Biscovey Road
St Blazey Gate
Par
Cornwall
PL24 2HW

Trevails of Truro Limited (Registered number: 01290401)

Report of the Directors
for the Year Ended 31 January 2025


The directors present their report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the retail of Mens and Womenswear.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

Nicholas John Trevail
Oliver Benjamin Trevail

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Nicholas John Trevail - Director


4 June 2025

Trevails of Truro Limited (Registered number: 01290401)

Income Statement
for the Year Ended 31 January 2025

31.1.25 31.1.24
Notes £    £   

TURNOVER 1,651,890 1,582,585

Cost of sales 833,237 815,462
GROSS PROFIT 818,653 767,123

Administrative expenses 485,963 412,957
OPERATING PROFIT 4 332,690 354,166

Interest receivable and similar
income

3,347

5,206
336,037 359,372

Interest payable and similar
expenses

5,521

19,676
PROFIT BEFORE TAXATION 330,516 339,696

Tax on profit 86,450 86,174
PROFIT FOR THE FINANCIAL YEAR 244,066 253,522

Trevails of Truro Limited (Registered number: 01290401)

Statement of Financial Position
31 January 2025

31.1.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 187,500 200,000
Tangible assets 6 13,534 17,664
201,034 217,664

CURRENT ASSETS
Stocks 421,145 418,056
Debtors 7 1,869 1,192
Cash at bank and in hand 539,246 546,445
962,260 965,693
CREDITORS
Amounts falling due within one year 8 296,059 267,230
NET CURRENT ASSETS 666,201 698,463
TOTAL ASSETS LESS CURRENT
LIABILITIES

867,235

916,127

CREDITORS
Amounts falling due after more than
one year

9

3,429

206,387
NET ASSETS 863,806 709,740

Trevails of Truro Limited (Registered number: 01290401)

Statement of Financial Position - continued
31 January 2025

31.1.25 31.1.24
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 843,806 689,740
SHAREHOLDERS' FUNDS 863,806 709,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:




Nicholas John Trevail - Director



Oliver Benjamin Trevail - Director


Trevails of Truro Limited (Registered number: 01290401)

Notes to the Financial Statements
for the Year Ended 31 January 2025


1. STATUTORY INFORMATION

Trevails of Truro Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of nil years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Trevails of Truro Limited (Registered number: 01290401)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 21 ).

4. OPERATING PROFIT

The operating profit is stated after charging:

31.1.25 31.1.24
£    £   
Depreciation - owned assets 14,936 12,730
Goodwill amortisation 12,500 12,500

Trevails of Truro Limited (Registered number: 01290401)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2024
and 31 January 2025 250,000
AMORTISATION
At 1 February 2024 50,000
Charge for year 12,500
At 31 January 2025 62,500
NET BOOK VALUE
At 31 January 2025 187,500
At 31 January 2024 200,000

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2024 63,863
Additions 10,806
At 31 January 2025 74,669
DEPRECIATION
At 1 February 2024 46,199
Charge for year 14,936
At 31 January 2025 61,135
NET BOOK VALUE
At 31 January 2025 13,534
At 31 January 2024 17,664

Trevails of Truro Limited (Registered number: 01290401)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Other debtors 1,869 1,192

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade creditors 92,197 67,409
Taxation and social security 150,788 158,339
Other creditors 53,074 41,482
296,059 267,230

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.25 31.1.24
£    £   
Bank loans - 200,108
Hire purchase contracts 3,429 6,279
3,429 206,387

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 200,108