TREGARON TRADING SERVICES LIMITED


Directors	CUTTER, James Lewis
	CUTTER, Robert John


Company Secretary	CLARE, Lesley May


Registered Address	Neuaddlas
	Tregaron
	Dyfed
	SY25 6LG


Registered Number	03779704 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,443,592		1,309,316
			1,443,592		1,309,316
Current assets
Stocks	4	292,277		312,839
Debtors		996,273		1,036,444
Cash at bank and on hand		1,607,025		666,579
		2,895,575		2,015,862
Creditors amounts falling due within one year	5	(1,095,183)		(551,000)
Net current assets (liabilities)			1,800,392		1,464,862
Total assets less current liabilities			3,243,984		2,774,178
Creditors amounts falling due after one year	6		(195,294)		(49,490)
Provisions for liabilities	8		(112,790)		(79,221)
Net assets			2,935,900		2,645,467
Capital and reserves
Called up share capital			101		101
Profit and loss account			2,935,799		2,645,366
Shareholders' funds			2,935,900		2,645,467

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 20 May 2026, and are signed on its behalf by:

CUTTER, Robert John
Director
Registered Company No. 03779704

TREGARON TRADING SERVICES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	32		32

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 January 25	992,431	682,515	2,578	1,677,524
Additions	-	207,093	-	207,093
At 31 December 25	992,431	889,608	2,578	1,884,617
Depreciation and impairment
At 01 January 25	-	365,683	2,525	368,208
Charge for year	-	72,763	54	72,817
At 31 December 25	-	438,446	2,579	441,025
Net book value
At 31 December 25	992,431	451,162	(1)	1,443,592
At 31 December 24	992,431	316,832	53	1,309,316

4.	Stocks

	2025	2024
	£	£
Work in progress	292,277	312,839
Total	292,277	312,839

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	716,583	236,371
Bank borrowings and overdrafts	935	-
Taxation and social security	113,203	186,692
Finance lease and HP contracts	22,094	39,927
Other creditors	111,432	37,073
Accrued liabilities and deferred income	130,936	50,937
Total	1,095,183	551,000


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	195,294	49,490
Total	195,294	49,490

7.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	217,388		88,620

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	112,790	79,221
Total	112,790	79,221

9.	Related party transactions
	As at the balance sheet date the company was due £900,488 (2024: £900,488) by a company related by common shareholders. No interest is chargeable and the balance is repayable on demand. During the year, TTS (Wales) Limited charged £80,000+VAT management fee to Tregaron Trading Services Limited. All transactions were under normal trading terms and conditions and were charged at market value. At the balance sheet date the company owed its directors £105,736 (2024: £35,335). No interest is chargeable and the balance is repayable on demand.

Related party transactions

As at the balance sheet date the company was due £900,488 (2024: £900,488) by a company related by common shareholders. No interest is chargeable and the balance is repayable on demand.

During the year, TTS (Wales) Limited charged £80,000+VAT management fee to Tregaron Trading Services Limited. All transactions were under normal trading terms and conditions and were charged at market value. 

At the balance sheet date the company owed its directors £105,736 (2024: £35,335). No interest is chargeable and the balance is repayable on demand.