TREGARON TRADING SERVICES LIMITED


Directors	CUTTER, James Lewis
	CUTTER, Robert John


Company Secretary	CLARE, Lesley May


Registered Address	Neuaddlas
	Tregaron
	Dyfed
	SY25 6LG


Registered Number	03779704 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		1,309,316		868,438
			1,309,316		868,438
Current assets
Stocks	4	312,839		277,277
Debtors		1,036,444		1,167,140
Cash at bank and on hand		666,579		954,802
		2,015,862		2,399,219
Creditors amounts falling due within one year	5	(551,000)		(558,111)
Net current assets (liabilities)			1,464,862		1,841,108
Total assets less current liabilities			2,774,178		2,709,546
Creditors amounts falling due after one year	6		(49,490)		(94,738)
Provisions for liabilities	8		(79,221)		(96,445)
Net assets			2,645,467		2,518,363
Capital and reserves
Called up share capital			101		101
Profit and loss account			2,645,366		2,518,262
Shareholders' funds			2,645,467		2,518,363

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 16 July 2025, and are signed on its behalf by:

CUTTER, Robert John
Director
Registered Company No. 03779704

TREGARON TRADING SERVICES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	These financial statements have been prepared on a going concern basis.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	20	3
Fixtures and fittings	-	5

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	32		32

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 January 24	482,657	673,073	2,578	1,158,308
Additions	509,774	9,442	-	519,216
At 31 December 24	992,431	682,515	2,578	1,677,524
Depreciation and impairment
At 01 January 24	-	287,445	2,425	289,870
Charge for year	-	78,238	100	78,338
At 31 December 24	-	365,683	2,525	368,208
Net book value
At 31 December 24	992,431	316,832	53	1,309,316
At 31 December 23	482,657	385,628	153	868,438

4.	Stocks

	2024	2023
	£	£
Work in progress	312,839	277,277
Total	312,839	277,277

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	236,371	250,130
Taxation and social security	186,693	140,290
Finance lease and HP contracts	39,927	86,570
Other creditors	37,073	30,185
Accrued liabilities and deferred income	50,936	50,936
Total	551,000	558,111


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Other creditors	49,490	94,738
Total	49,490	94,738

7.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	48,693		93,144

8.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	79,221	96,445
Total	79,221	96,445

9.	Related party transactions
	As at the balance sheet date the company was due £900,488 (2023: £900,488) by a company related by common shareholders. No interest is chargeable and the balance is repayable on demand. At the balance sheet date the company owed its directors £35,335 (2023: £28,806). No interest is chargeable and the balance is repayable on demand.