Trawscoed Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02985031

Trawscoed Limited

Filleted Unaudited Financial Statements

30 September 2024

Trawscoed Limited

Financial Statements

Year ended 30 September 2024

CONTENTS	PAGE

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Trawscoed Limited

Officers and Professional Advisers

The board of directors	Mr R W P Jones
	Mrs S M Jones

Company secretary	Mrs S M Jones

Registered office	19 Dolgoy Close
	West Cross
	Swansea
	SA3 5LT

Accountants	James & Uzzell Ltd
	Chartered Certified Accountants
	Axis 15, Axis Court
	Mallard Way
	Riverside Business Park
	Swansea
	SA7 0AJ

Trawscoed Limited

Statement of Financial Position

30 September 2024

	2024	2023
		(restated)
Note	£	£

FIXED ASSETS

Tangible assets	5	–	764,438
Investments	6	36,259	36,262
		--------	---------
		36,259	800,700

CURRENT ASSETS

Debtors	7	699,337	228,386
Cash at bank and in hand		1,846	5,562
		---------	---------
		701,183	233,948

CREDITORS: amounts falling due within one year	8	1,885	20,078
		---------	---------
NET CURRENT ASSETS		699,298	213,870
		---------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES		735,557	1,014,570

CREDITORS: amounts falling due after more than one year	9	–	279,890

PROVISIONS

Taxation including deferred tax	–	24,074
	---------	------------
NET ASSETS	735,557	710,606
	---------	------------

CAPITAL AND RESERVES

Called up share capital	10	100	100
Revaluation reserve		–	240,927
Profit and loss account		735,457	469,579
		---------	---------
SHAREHOLDERS FUNDS		735,557	710,606
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Trawscoed Limited

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 17 June 2025 , and are signed on behalf of the board by:

Mr R W P Jones

Director

Company registration number: 02985031

Trawscoed Limited

Notes to the Financial Statements

Year ended 30 September 2024

1. GENERAL INFORMATION

Trawscoed Limited is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are that of a rental property and consultancy company.

2. STATEMENT OF COMPLIANCE

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 30 September 2024. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Going concern

The directors have considered the future trading position of the company and are confident that the going concern principle can be applied to the financial statements.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Leases

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are addressed below. (i) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. (ii) Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. (iii) Provisions Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes (iv) Going Concern The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable net of trade discounts. The policies adopted for the recognition of turnover are as follows: Interest and dividends receivable Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established. Rental income Income from rentals is recognised in accordance with the terms of the relevant lease. Consultancy Income Income from consultancy work is received on a monthly basis, based on the support given in the month

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	25% straight line
Fixtures & Fittings	-	25% straight line

Land & Buildings - No depreciation

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.

The methods and significant assumptions used to ascertain the fair value of £36,259 and fair value movement of £3 included in the profit for the year are based on the acquisition cost for shares held in non listed companies. Listed investments are valued based on their market value at the year end date.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. TANGIBLE ASSETS

	Land and buildings
	£
Cost
At 1 October 2023 (as restated)	764,438
Disposals	( 764,438)
	---------
At 30 September 2024	–
	---------
Depreciation
At 1 October 2023 and 30 September 2024	–
	---------
Carrying amount
At 30 September 2024	–
	---------
At 30 September 2023	764,438
	---------

Net book value of land and buildings at 30th September 2024 comprised:

	2024	2023
	£	£
Cost of investment property	–	293,594
Cost of Freehold Land	–	205,844
Revaluations of investment property	–	265,000

	----	---------
Total Land and Buildings	–	764,438
	----	---------

The comparable amounts determined according to the historical cost convention are as follows:

		2024
		£
	Cost of investment property	–
	Cost of freehold land	–
		----
	Net Book Value at 30th September 2024	–
		----
	Net Book Value at 30th September 2023	499,438

6. INVESTMENTS

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1 October 2023 as restated	28,062	8,200	36,262
Additions	56,064	–	56,064
Disposals	( 56,064)	–	( 56,064)
Revaluations	–	( 3)	( 3)
	--------	------	--------
At 30 September 2024	28,062	8,197	36,259
	--------	------	--------
Impairment
At 1 October 2023 as restated and 30 September 2024	–	–	–
	--------	------	--------

Carrying amount
At 30 September 2024	28,062	8,197	36,259
	--------	------	--------
At 30 September 2023	28,062	8,200	36,262
	--------	------	--------

7. DEBTORS

	2024	2023
		(restated)
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	585,800	–
Other debtors	113,537	228,386
	---------	---------
	699,337	228,386
	---------	---------

8. CREDITORS: amounts falling due within one year

	2024	2023
		(restated)
	£	£
Bank loans and overdrafts	–	4,091
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	13,711
Corporation tax	100	100
Other creditors	1,785	2,176
	------	--------
	1,885	20,078
	------	--------

The total of secured liabilities falling due within one year is nil (2023: £4,091). These were secured by a charge over the relevant property to which it is related.

9. CREDITORS: amounts falling due after more than one year

	2024	2023
		(restated)
	£	£
Bank loans and overdrafts	–	279,890
	----	---------

The total of secured liabilities falling due after more than one year is £nil (2023: £279,890). These were secured by a charge over the relevant property to which it is related.

10. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2024		2023
			(restated)
	No.	£	No.	£
Ordinary 'A' shares of £ 1 each	9	9	26	26
Ordinary 'B' shares of £ 1 each	9	9	26	26
Ordinary 'C' shares of £ 1 each	24	24	24	24
Ordinary 'D' shares of £ 1 each	24	24	24	24
Ordinary 'E' shares of £ 1 each	34	34	–	–
	----	----	----	----
	100	100	100	100
	----	----	----	----

On 25th November 2023, the shares were reclassified where 17 Ordinary A Shares and 17 Ordinary B Shares were reclassified to 34 Ordinary E Shares.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the directors owed the company £nil (2023: £104,334). Interest of £2,508 (2023: £2,707) has been charged on this balance.

12. RELATED PARTY TRANSACTIONS

The aggregated amount of transactions due with related parties is as follows: Entities over which the entity has control, joint control or significant influence

	2024	2023
	£	£
Balance owed (to)/from these entities	585,801	(13,712)
Assets transferred to these entities	764,438	–

Other related parties

	2024	2023
	£	£
Balance owed (to)/from other related parties	113,062	110,574
	---------	---------

Interest of £2,487 (2023: £2,301) was charged during the year in relation to balances with other related parties.

13. RESTATEMENT

The prior year figures have been restated to correct the 2023 transfer between the profit and loss reserve and revaluation reserve.