Company No: 02264139 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	343		0
Investment property	4	1,100,000		1,100,000
		1,100,343		1,100,000
Current assets
Debtors	5	57,850		1,394
Cash at bank and in hand		34,970		28,562
		92,820		29,956
Creditors: amounts falling due within one year	6	( 96,906)		( 35,547)
Net current liabilities		(4,086)		(5,591)
Total assets less current liabilities		1,096,257		1,094,409
Provision for liabilities	7	( 140,873)		( 140,873)
Net assets		955,384		953,536
Capital and reserves
Called-up share capital		2		2
Fair value reserve		606,025		606,025
Profit and loss account		349,357		347,509
Total shareholders' funds		955,384		953,536

For the financial year ending 31 March 2026 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 in accordance with the provisions applicable to companies subject to the small companies regime of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A – small entities.

The financial statements of Trimspear Limited (registered number: 02264139) were approved and authorised for issue by the Board of Directors on 29 June 2026. They were signed on its behalf by:

M Woolcott-Antunes 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

Trimspear 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 Peacross Farm, Yarcombe, Honiton, EX14 9LX, 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 £.

Turnover

Turnover represents amounts receivable for the rent of its investment property and recharged expenses. Turnover is recognised when there is a right to consideration, and is recorded net of VAT and other sales related taxes.

Rental revenue received in advance of the period to which it relates is included as accruals and deferred income within creditors.

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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Computer equipment

25 % 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.

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.

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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		4

3. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 April 2025	0		0
Additions	415		415
At 31 March 2026	415		415
Accumulated depreciation
At 01 April 2025	0		0
Charge for the financial year	72		72
At 31 March 2026	72		72
Net book value
At 31 March 2026	343		343
At 31 March 2025	0		0

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	1,100,000
As at 31 March 2026	1,100,000

Valuation

The fair value of the company’s investment property was last revalued on 31 March 2020 by the board of directors. The basis of this valuation was current open market value. The value of this property has not materially changed since this date.

There has been no valuation of investment property by an independent valuer.

5. Debtors

	2026		2025
	£		£
Trade debtors	56,550		0
Prepayments	1,300		1,394
	57,850		1,394

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	268		0
Amounts owed to directors	4,210		4,210
Accruals and deferred income	55,694		12,328
Corporation tax	19,624		16,800
Other taxation and social security	17,110		2,209
	96,906		35,547

7. Provision for liabilities

	2026		2025
	£		£
Deferred tax	140,873		140,873

8. Related party transactions

Transactions with the entity's directors

Advances

The joint Directors loan account for M V & J Woolcott is repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 per director at the official HMRC rates.

At 1 April 2024 the balance owed by the directors was £1,650. During the year, the company received repayments of £1,650. At 31 March 2025 there were no amounts owed by the directors.

There were no advances or repayments to or from the directors during the year ended 31 March 2026.