Tregarron Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02720881 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2018

for

Tregarron Limited

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

Fixed assets

Intangible assets

4

1

12,500

Tangible assets

5

17,686

23,365

17,687

35,865

Current assets

Debtors

6

841,403

300,232

Cash at bank and in hand

1,737,490

1,874,557

2,578,893

2,174,789

Creditors

Amounts falling due within one year

7

148,247

155,676

Net current assets

2,430,646

2,019,113

Total assets less current liabilities

2,448,333

2,054,978

Capital and reserves

Called up share capital

100

100

Retained earnings

2,448,233

2,054,878

2,448,333

2,054,978

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 15 February 2019 and were signed on its behalf by:

J. C. Knighton - Director

1.	Statutory information

Tregarron 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:

02720881

Registered office:

Unit 4 Eastboro Fields

Hemdale Business Park

Nuneaton

Warwickshire

CV11 6GL

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention in accordance with FRS 102 1A

- The Financial Reporting Standard applicable to UK and Republic of Ireland and the Companies Act 2006.

The principal accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied in all years presented, unless otherwise stated.

Turnover

Turnover is measured at the fair value of the commission received or receivable for provision of agent services in

the ordinary course of the company's activities. Turnover excludes discounts, rebates, and value added tax and

other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Pension costs

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.

Deferred tax

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

statement of financial position date.

3.	Employees and directors

The average number of employees during the year was 3 (2017 - 3 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 June 2017

and 31 May 2018

300,000

Amortisation

At 1 June 2017

287,500

Charge for year

12,499

At 31 May 2018

299,999

Net book value

At 31 May 2018

1

At 31 May 2017

12,500

5.	Tangible fixed assets

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 June 2017

and 31 May 2018

12,785

33,389

4,539

50,713

Depreciation

At 1 June 2017

11,156

12,445

3,747

27,348

Charge for year

245

5,236

198

5,679

At 31 May 2018

11,401

17,681

3,945

33,027

Net book value

At 31 May 2018

1,384

15,708

594

17,686

At 31 May 2017

1,629

20,944

792

23,365

6.

Debtors: amounts falling due within one year

31.5.18

31.5.17

£

£

Trade debtors

212,341

296,543

Other loan debtor

306,000

-

Directors' loan accs

321,732

-

Prepayments and accrued income

1,330

3,689

841,403

300,232

7.

Creditors: amounts falling due within one year

31.5.18

31.5.17

£

£

Trade creditors

4,925

62,833

Tax

80,334

54,030

Social security and other taxes

5,234

5,604

VAT

134

1,609

Accrued expenses

57,620

31,600

148,247

155,676

8.	Directors' advances, credits and guarantees

During the period, the company made a short term loan to a director amounting to £320,000. Interest was

charged at a rate of 2.5%. The loan has been repaid in full within 9 months of the year end.

9.	Other loan debtor

During the year, the company made a working capital loan of £300,000 to a major customer. Interest is being

charged at 12%. The loan and interest is repayable on demand.