9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,940 1,125 113 1,238 702 815 xbrli:pure xbrli:shares iso4217:GBP SC464672 2023-12-01 2024-11-30 SC464672 2024-11-30 SC464672 2023-11-30 SC464672 2022-12-01 2023-11-30 SC464672 2023-11-30 SC464672 2022-11-30 SC464672 core:NetGoodwill 2023-12-01 2024-11-30 SC464672 core:FurnitureFittings 2023-12-01 2024-11-30 SC464672 core:MotorVehicles 2023-12-01 2024-11-30 SC464672 bus:LeadAgentIfApplicable 2023-12-01 2024-11-30 SC464672 bus:Director2 2023-12-01 2024-11-30 SC464672 core:NetGoodwill 2023-11-30 SC464672 core:NetGoodwill 2024-11-30 SC464672 core:FurnitureFittings 2023-11-30 SC464672 core:MotorVehicles 2023-11-30 SC464672 core:FurnitureFittings 2024-11-30 SC464672 core:MotorVehicles 2024-11-30 SC464672 core:WithinOneYear 2024-11-30 SC464672 core:WithinOneYear 2023-11-30 SC464672 core:AfterOneYear 2023-11-30 SC464672 core:ShareCapital 2024-11-30 SC464672 core:ShareCapital 2023-11-30 SC464672 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC464672 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC464672 core:NetGoodwill 2023-11-30 SC464672 core:FurnitureFittings 2023-11-30 SC464672 core:MotorVehicles 2023-11-30 SC464672 bus:Director1 2023-12-01 2024-11-30 SC464672 bus:SmallEntities 2023-12-01 2024-11-30 SC464672 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 SC464672 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 SC464672 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC464672 bus:FullAccounts 2023-12-01 2024-11-30 SC464672 core:OfficeEquipment 2023-12-01 2024-11-30 SC464672 core:OfficeEquipment 2023-11-30 SC464672 core:OfficeEquipment 2024-11-30 SC464672 bus:Director2 1 2024-11-30 SC464672 1 2023-12-01 2024-11-30
COMPANY REGISTRATION NUMBER: SC464672
Terrenus Land & Water Limited
Filleted Unaudited Financial Statements
30 November 2024
Terrenus Land & Water Limited
Financial Statements
Year ended 30 November 2024
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Terrenus Land & Water Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Terrenus Land & Water Limited
Year ended 30 November 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Terrenus Land & Water Limited for the year ended 30 November 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Terrenus Land & Water Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Terrenus Land & Water Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Terrenus Land & Water Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Terrenus Land & Water Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Terrenus Land & Water Limited. You consider that Terrenus Land & Water Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Terrenus Land & Water Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
27 May 2025
Terrenus Land & Water Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
702
815
Tangible assets
6
17,379
14,882
--------
--------
18,081
15,697
Current assets
Work in progress
38,000
30,000
Debtors
7
93,172
93,735
Cash at bank and in hand
56,801
89,459
---------
---------
187,973
213,194
Creditors: amounts falling due within one year
8
58,709
82,212
---------
---------
Net current assets
129,264
130,982
---------
---------
Total assets less current liabilities
147,345
146,679
Creditors: amounts falling due after more than one year
9
2,058
---------
---------
Net assets
147,345
144,621
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
147,245
144,521
---------
---------
Shareholders funds
147,345
144,621
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 30 November 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 .
Terrenus Land & Water Limited
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 27 May 2025 , and are signed on behalf of the board by:
Mr W Hume
Director
Company registration number: SC464672
Terrenus Land & Water Limited
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures & Fittings
-
33% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 10 ).
5. Intangible assets
Goodwill
£
Cost
At 1 December 2023 and 30 November 2024
1,940
-------
Amortisation
At 1 December 2023
1,125
Charge for the year
113
-------
At 30 November 2024
1,238
-------
Carrying amount
At 30 November 2024
702
-------
At 30 November 2023
815
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 December 2023
2,636
6,515
28,725
37,876
Additions
6,545
6,545
-------
-------
--------
--------
At 30 November 2024
2,636
6,515
35,270
44,421
-------
-------
--------
--------
Depreciation
At 1 December 2023
2,536
4,582
15,876
22,994
Charge for the year
33
483
3,532
4,048
-------
-------
--------
--------
At 30 November 2024
2,569
5,065
19,408
27,042
-------
-------
--------
--------
Carrying amount
At 30 November 2024
67
1,450
15,862
17,379
-------
-------
--------
--------
At 30 November 2023
100
1,933
12,849
14,882
-------
-------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
89,871
83,539
Other debtors
3,301
10,196
--------
--------
93,172
93,735
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,005
4,408
Trade creditors
14,654
37,319
Corporation tax
2,319
Social security and other taxes
30,599
29,229
Other creditors
9,132
11,256
--------
--------
58,709
82,212
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,058
----
-------
10. Directors' advances, credits and guarantees
As at the 30th November 2024 Mr W Hume , Director, was owed £ 3,132 from the company (2023: £4,581).
11. Controlling party
The company was under the control of Mr W Hume director, throughout the current year.