TREVEAN (CORNWALL) LTD
TREVEAN (CORNWALL) LTD
Company No:
TREVEAN (CORNWALL) LTD
Unaudited Financial Statements
For the financial period from 11 November 2020 to 30 April 2022
Pages for filing with the registrar
For the financial period from 11 November 2020 to 30 April 2022
Pages for filing with the registrar
Unaudited Financial Statements
Contents
STATEMENT OF FINANCIAL POSITION
STATEMENT OF FINANCIAL POSITION (continued)
Note | 30.04.2022 | |
£ | ||
Fixed assets | ||
Investments | 3 |
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50 | ||
Current assets | ||
Cash at bank and in hand |
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100 | ||
Creditors | ||
Amounts falling due within one year | 4 | (
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Net current assets | 50 | |
Total assets less current liabilities | 100 | |
Net assets |
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Capital and reserves | ||
Called-up share capital | 5 |
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Total shareholders' funds |
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Directors' responsibilities:
-
The members have not required the Company to obtain an audit of its financial statements for the financial period 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 Statement of Income and Retained Earnings has not been delivered.
The financial statements of Trevean (Cornwall) Ltd (registered number:
Mr R Kellow
Director |
NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting policies
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
General information and basis of accounting
Trevean (Cornwall) Ltd (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 C/O Bishop Fleming, Chy Nyverow, Newham Road, Truro, Cornwall, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Reporting period length
The reporting period length for this accounting period is between 11 November 2020 and 30 April 2022, therefore future comparatives are not entirely comparable.
Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Non-financial assets
Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Cash and cash equivalents
Trade and other creditors
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2. Employees
Period from 11.11.2020 to 30.04.2022 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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3. Fixed asset investments
Other investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 11 November 2020 |
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Additions |
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At 30 April 2022 |
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Provisions for impairment | |||
At 11 November 2020 |
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At 30 April 2022 |
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Carrying value at 30 April 2022 |
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4. Creditors: amounts falling due within one year
30.04.2022 | |
£ | |
Other creditors |
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5. Called-up share capital
30.04.2022 | |
£ | |
Allotted, called-up and fully-paid | |
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