Trench Property Management Ltd Filleted accounts for Companies House (small and micro)

TRENCH PROPERTY MANAGEMENT LTD - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2019-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP NI620409 2019-01-01 2019-12-31 NI620409 2019-12-31 NI620409 2018-12-31 NI620409 bus:LeadAgentIfApplicable 2019-01-01 2019-12-31 NI620409 bus:Director1 2019-01-01 2019-12-31 NI620409 core:WithinOneYear 2019-12-31 NI620409 core:WithinOneYear 2018-12-31 NI620409 core:ShareCapital 2019-12-31 NI620409 core:ShareCapital 2018-12-31 NI620409 core:RetainedEarningsAccumulatedLosses 2019-12-31 NI620409 core:RetainedEarningsAccumulatedLosses 2018-12-31 NI620409 bus:SmallEntities 2019-01-01 2019-12-31 NI620409 bus:AuditExemptWithAccountantsReport 2019-01-01 2019-12-31 NI620409 bus:FullAccounts 2019-01-01 2019-12-31 NI620409 bus:SmallCompaniesRegimeForAccounts 2019-01-01 2019-12-31 NI620409 bus:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31

COMPANY REGISTRATION NUMBER: NI620409

Trench Property Management Ltd

Filleted Unaudited Financial Statements

31 December 2019

Trench Property Management Ltd

Financial Statements

Year ended 31 December 2019

Contents	Page

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	3

Trench Property Management Ltd

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Trench Property Management Ltd

Year ended 31 December 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trench Property Management Ltd for the year ended 31 December 2019, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the director of Trench Property Management Ltd in accordance with the terms of our engagement letter dated 13 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Trench Property Management Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trench Property Management Ltd and its director for our work or for this report.

It is your duty to ensure that Trench Property Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Trench Property Management Ltd. You consider that Trench Property Management Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Trench Property Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BMK ACCOUNTING LIMITED Chartered Accountants

43 Lockview Road Stranmillis Belfast BT9 5FJ

2 December 2020

Trench Property Management Ltd

Statement of Financial Position

31 December 2019

	2019		2018
Note	£	£	£

Current assets

Debtors	4	–	1,840
Cash at bank and in hand		159,269	101,852
		---------	---------
		159,269	103,692

Creditors: amounts falling due within one year	5	158,942		103,010
		---------		---------
Net current assets			327	682
			----	----
Total assets less current liabilities			327	682
			----	----
Net assets			327	682
			----	----

Capital and reserves

Called up share capital	2	2
Profit and loss account	325	680
	----	----
Shareholders funds	327	682
	----	----

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 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 1 December 2020 , and are signed on behalf of the board by:

C O'Kane
Director

Company registration number: NI620409

Trench Property Management Ltd

Notes to the Financial Statements

Year ended 31 December 2019

1. General information

The company is a private company limited by shares, registered in N. Ireland. The address of the registered office is 43 Lockview Road, Belfast, BT9 5FJ.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Debtors and creditors receivable / payable withing one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for 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.

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.

4. Debtors

	2019	2018
	£	£
Other debtors	–	1,840
	----	-------

5. Creditors: amounts falling due within one year

	2019	2018
	£	£
Corporation tax	2,869	1,545
Other creditors	156,073	101,465
	---------	---------
	158,942	103,010
	---------	---------

6. Financial instruments

The company has no financial instruments.

7. Related party transactions

The following are considered related party transactions for the purposes FRS 102 1A - related party transactions: Company director C O'Kane is a shareholder in Cedareast Investments Limited and is both a shareholder and director of Fruit of the Vine (Belfast) Limited. Transactions are also carried out on behalf of other O'Kane family members. Income Management fees were charged by the company during the period as follows:

	2019	2018
	£	£
Cedareast Investments Limited	9,311	9,359
Other family members	–	800

Creditors (included in Note 5) Balances were due by the company at 31st December 2019 as follows:

	2019	2018
	£	£
Cedareast Investments Limited	110,014	61,396
Fruit of the Vine (Belfast) Limited	35,978	34,612
M. O'Kane & C. O'Kane	9,121	3,537

8. Controlling party

The directors consider the ultimate controlling parties to be Mr Colin O'Kane and Mrs Geraldine O'Kane.