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The Truro Public Rooms Company (1926) Limited
Annual Report and Unaudited Financial Statements
Year Ended 31 December 2024

Registration number: 00212344

The Truro Public Rooms Company (1926) Limited

Contents

Balance Sheet | 1 to 2
Notes to the Financial Statements | 3 to 5

The Truro Public Rooms Company (1926) Limited

Balance Sheet

31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Other financial assets | 4 | 183,488 | 187,587
Current assets |  |  |
Debtors | 5 | 988 | 506
Cash at bank and in hand |  | 6,217 | 2,183
|  | 7,205 | 2,689
Creditors: Amounts falling due within one year | 6 | (4,000) | (3,959)
Net current assets/(liabilities) |  | 3,205 | (1,270)
Total assets less current liabilities |  | 186,693 | 186,317
Provisions for liabilities |  | (4,202) | (1,850)
Net assets |  | 182,491 | 184,467
Capital and reserves |  |  |
Called up share capital |  | 2,500 | 2,500
Profit and loss account |  | 179,991 | 181,967
Total equity |  | 182,491 | 184,467

The balance sheet includes £21,691 of non-distributable reserves.

The Truro Public Rooms Company (1926) Limited

Balance Sheet

31 December 2024

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 May 2025 and signed on its behalf by:

......................................... L C Channell Director

Company Registration Number: 00212344

The Truro Public Rooms Company (1926) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

These financial statements were authorised for issue by the Board on 7 May 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

The Truro Public Rooms Company (1926) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:
• Short term other debtors and creditors;
• Shares; and
• Bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

The Truro Public Rooms Company (1926) Limited

Notes to the Financial Statements

Year Ended 31 December 2024

4 | Other financial assets

| Listed investments £ | Total £
Non-current financial assets
Cost or valuation
At 1 January 2024 | 187,587 | 187,587
Fair value adjustments | 7,189 | 7,189
Additions | 67,789 | 67,789
Disposals | (79,077) | (79,077)
At 31 December 2024 | 183,488 | 183,488

The market value of the listed investments at 31 December 2024 was £183,488 (2023 - £187,587). The cost value at 31 December 2024 was £156,775 (2023 - £169,431).

5 | Debtors

| 2024 £ | 2023 £
Other debtors | 988 | 506
| 988 | 506

6 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Other creditors | 4,000 | 3,959

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £100 each | 25 | 2,500 | 25 | 2,500