REGISTERED NUMBER: 02218461 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2025

for

Tricounty Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

355,880

365,019

CURRENT ASSETS

Stocks

46,931

55,700

Debtors

5

21,273

20,467

Cash at bank and in hand

63,726

34,738

131,930

110,905

CREDITORS

Amounts falling due within one year

6

107,941

106,404

NET CURRENT ASSETS

23,989

4,501

TOTAL ASSETS LESS CURRENT LIABILITIES

379,869

369,520

CREDITORS

Amounts falling due after more than one year

7

138,257

151,424

NET ASSETS

241,612

218,096

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

9

253,064

253,064

Retained earnings

(21,452

)

(44,968

)

SHAREHOLDERS' FUNDS

241,612

218,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2025 and were signed on its behalf by:

K J Butson - Director

1.	STATUTORY INFORMATION

Tricounty Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02218461

Registered office:

Unit 6

Westbridge Industrial Estate

Tavistock

Devon

PL19 8DG

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Although the company has overdrawn retained earnings the directors believe that it is appropriate to prepare the accounts on a going concern basis given the continued financial support of the directors.

The directors therefore believes that there is not a material uncertainty over the company's ability to continue as a going concern.

Turnover

Turnover is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT. Turnover is recognised when the customer takes physical ownership of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

380,000

139,872

519,872

DEPRECIATION

At 1 April 2024

44,800

110,053

154,853

Charge for year

5,600

3,539

9,139

At 31 March 2025

50,400

113,592

163,992

NET BOOK VALUE

At 31 March 2025

329,600

26,280

355,880

At 31 March 2024

335,200

29,819

365,019

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2024 - £ 100,000 ) which is not depreciated.

If freehold land and buildings had not been revalued they would have been included at a historical cost of £143,902 with aggregate depreciation of £30,730, giving a carrying value of £113,172. The property was last revalued by the directors at 31 March 2012.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

11,366

15,633

Other debtors

9,907

4,834

21,273

20,467

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

8,529

5,623

Trade creditors

39,240

44,050

Taxation and social security

3,183

1,967

Other creditors

56,989

54,764

107,941

106,404

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

118,555

127,312

Other creditors

19,702

24,112

138,257

151,424

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

84,437

104,819

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

127,084

132,935

The bank loan is secured by a first legal charge over the company's property, a debenture, postponement of the directors loan account and a personal guarantee of £200,000 from the directors Mr & Mrs Butson.

9.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

253,064

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

M Butson

Balance outstanding at start of year

-

-

Amounts advanced

2,500

-

Amounts repaid

(312

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,188

-

The loan is interest free and repayable on demand.