Trueline Surveys Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI623500

TRUELINE SURVEYS LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 May 2025

TRUELINE SURVEYS LTD

STATEMENT OF FINANCIAL POSITION

31 May 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Tangible assets	5		230,166	233,023

CURRENT ASSETS

Debtors	6	170,960	129,510
Cash at bank and in hand		65,445	116,442
		---------	---------
		236,405	245,952

CREDITORS: amounts falling due within one year	7	92,530		66,727
		---------		---------
NET CURRENT ASSETS			143,875	179,225
			---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES			374,041	412,248

CREDITORS: amounts falling due after more than one year	8		–	10,000

PROVISIONS

Taxation including deferred tax	31,928	31,928
	---------	---------
NET ASSETS	342,113	370,320
	---------	---------

CAPITAL AND RESERVES

Called up share capital	9	100	100
Profit and loss account		342,013	370,220
		---------	---------
SHAREHOLDERS FUNDS		342,113	370,320
		---------	---------

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 31 May 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 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 .

TRUELINE SURVEYS LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 1 October 2025 , and are signed on behalf of the board by:

Mr J C Kilpatrick	Mrs D H Kilpatrick
Director	Director

Company registration number: NI623500

TRUELINE SURVEYS LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is C/O FEB Chartered Accountants, Linenhall Exchange, 26 Linenhall Street, Belfast, BT2 8BG.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Land and Buildings	-	5% straight line
Motor Vehicles	-	20% reducing balance
Equipment	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 6 (2024: 8 ).

5. Tangible assets

	Land and buildings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 June 2024	28,686	97,025	310,294	436,005
Additions	–	–	34,744	34,744
	--------	--------	---------	---------
At 31 May 2025	28,686	97,025	345,038	470,749
	--------	--------	---------	---------
Depreciation
At 1 June 2024	5,353	48,828	148,801	202,982
Charge for the year	1,434	9,640	26,527	37,601
	--------	--------	---------	---------
At 31 May 2025	6,787	58,468	175,328	240,583
	--------	--------	---------	---------
Carrying amount
At 31 May 2025	21,899	38,557	169,710	230,166
	--------	--------	---------	---------
At 31 May 2024	23,333	48,197	161,493	233,023
	--------	--------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	82,461	53,072
Other debtors	88,499	76,438
	---------	---------
	170,960	129,510
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	27,511	19,277
Corporation tax	29,119	13,624
Social security and other taxes	17,853	21,826
Other creditors	8,047	2,000
	--------	--------
	92,530	66,727
	--------	--------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	10,000
	----	--------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

10. Directors' advances, credits and guarantees

The company was under the control of Mr Kilpatrick throughout the period. Mr Kilpatrick is the managing director and joint shareholder.