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Company No: 01230364 (England and Wales)

# TROMSOSTAN LIMITED

### Unaudited Financial Statements
For the financial year ended 31 May 2025
Pages for filing with the registrar

TROMSOSTAN LIMITED

## Unaudited Financial Statements

For the financial year ended 31 May 2025

Contents

TROMSOSTAN LIMITED

## BALANCE SHEET

As at 31 May 2025
TROMSOSTAN LIMITED

## BALANCE SHEET (continued)

As at 31 May 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 3,424,819 |  | 3,445,321
|  | 3,424,819 |  | 3,445,321
Current assets |  |  |  |
Stocks | 4 | 44,249 |  | 66,005
Debtors | 5 | 79,394 |  | 62,481
Cash at bank and in hand |  | 2,056,551 |  | 2,513,429
|  | 2,180,194 |  | 2,641,915
Creditors: amounts falling due within one year | 6 | ( 450,744) |  | ( 921,181)
Net current assets |  | 1,729,450 |  | 1,720,734
Total assets less current liabilities |  | 5,154,269 |  | 5,166,055
Provision for liabilities |  | ( 47,197) |  | ( 47,197)
Net assets |  | 5,107,072 |  | 5,118,858
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 5,106,972 |  | 5,118,758
Total shareholders' funds |  | 5,107,072 |  | 5,118,858

For the financial 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 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 Tromsostan Limited (registered number: 01230364) were approved and authorised for issue by the Board of Directors on 14 January 2026. They were signed on its behalf by:

Dennis Neil Brown Director |

TROMSOSTAN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
TROMSOSTAN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025

##### 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

Tromsostan 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 Nexus House, 2 Cray Road, Sidcup, DA14 5DA, 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

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

##### Turnover

Turnover comprises rental income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts .
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
The tax expense for the period comprises current and deferred 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
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

##### 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 or reducing balance basis over its expected useful life, as follows:

Investment property | not depreciated
Vehicles | 4 years straight line
Fixtures and fittings | 5 years straight line

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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### 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.

##### Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction
price less impairment losses. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the transaction.

##### Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

##### Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

##### Financial instruments

Classification
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.
Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.
Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.
Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.
Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 3 |  | 3

#### 3. Tangible assets

| Investment property |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 June 2024 | 3,400,000 |  | 140,875 |  | 172,629 |  | 3,713,504
Disposals | 0 |  | 0 |  | ( 172,629) |  | ( 172,629)
At 31 May 2025 | 3,400,000 |  | 140,875 |  | 0 |  | 3,540,875
Accumulated depreciation |  |  |  |  |  |  |
At 01 June 2024 | 0 |  | 95,554 |  | 172,629 |  | 268,183
Charge for the financial year | 0 |  | 20,502 |  | 0 |  | 20,502
Disposals | 0 |  | 0 |  | ( 172,629) |  | ( 172,629)
At 31 May 2025 | 0 |  | 116,056 |  | 0 |  | 116,056
Net book value |  |  |  |  |  |  |
At 31 May 2025 | 3,400,000 |  | 24,819 |  | 0 |  | 3,424,819
At 31 May 2024 | 3,400,000 |  | 45,321 |  | 0 |  | 3,445,321

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Work in progress | 44,249 |  | 66,005

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 79,394 |  | 62,481

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Taxation and social security | 7,956 |  | ( 117)
Other creditors | 442,788 |  | 921,298
| 450,744 |  | 921,181

#### 7. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amounts owed to Directors | 378,807 |  | 850,000

The loan from the director to the company is unsecured, interest free and repayable on demand.