Company No: 03308619 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	87,660		93,901
Investment property	4	2,652,653		2,620,174
		2,740,313		2,714,075
Current assets
Debtors
- due within one year	5	190,614		54,311
- due after more than one year	5	0		90,000
Cash at bank and in hand		17,337		25,725
		207,951		170,036
Creditors: amounts falling due within one year	6	( 31,841)		( 33,010)
Net current assets		176,110		137,026
Total assets less current liabilities		2,916,423		2,851,101
Provision for liabilities	7	( 125,041)		( 120,035)
Net assets		2,791,382		2,731,066
Capital and reserves
Called-up share capital		963,435		963,435
Revaluation reserve		1,949,352		1,923,044
Profit and loss account		( 121,405 )		( 155,413 )
Total shareholders' funds		2,791,382		2,731,066

For the financial year ending 31 March 2025 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Trewidden Enterprises Limited (registered number: 03308619) were approved and authorised for issue by the Board of Directors on 18 September 2025. They were signed on its behalf by:

Colonel E T Bolitho OBE Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Trewidden Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Chyandour Office, Chyandour, Penzance, TR18 3LW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and it is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue comprises the following:
- Rental revenue from land and commercial unites owned by the company as investment property.
- Solar energy income from the recharges of solar power generated by solar panels owned by the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
	25 years straight line
Vehicles	5 years straight line
Fixtures and fittings	33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	204,590		0		43,614		248,204
Additions	0		1,938		0		1,938
At 31 March 2025	204,590		1,938		43,614		250,142
Accumulated depreciation
At 01 April 2024	110,689		0		43,614		154,303
Charge for the financial year	7,791		388		0		8,179
At 31 March 2025	118,480		388		43,614		162,482
Net book value
At 31 March 2025	86,110		1,550		0		87,660
At 31 March 2024	93,901		0		0		93,901

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	2,620,174
Fair value movement	32,479
As at 31 March 2025	2,652,653

The fair value to the investment property has been arrived at on the basis of a valuation carried out at 31 March 2025 by the Estate Office. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	6,879		5,551
Short term loans to associates	160,000		0
Other debtors	23,735		48,760
	190,614		54,311
Debtors: amounts falling due after more than one year
Short term loans to associates	0		90,000

Included within short term loans to associates is a loan to Bolitho No 2 A and M Trust for the amount of £160,000.

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	3,461		7,411
Taxation and social security	16,485		10,441
Other creditors	11,895		15,158
	31,841		33,010

7. Deferred Tax

	2025		2024
	£		£
At the beginning of financial year	(120,035)		(137,048)
Movement in deferred taxation non-attributable to Profit and Loss	(5,006)		17,013
	(125,041)		(120,035)