Company No: SC330873 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2021		2020
		£		£
Fixed assets
Investment property	3	180,000		150,000
		180,000		150,000
Current assets
Debtors
- due within one year	4	3,237		7,862
- due after more than one year	4	32,763		20,884
Cash at bank and in hand		901		9,614
		36,901		38,360
Creditors
Amounts falling due within one year	5	( 5,491)		( 8,944)
Net current assets		31,410		29,416
Total assets less current liabilities		211,410		179,416
Creditors
Amounts falling due after more than one year	6	( 653,644)		( 651,068)
Net liabilities		( 442,234)		( 471,652)
Capital and reserves
Called-up share capital	7	138		138
Revaluation reserve		30,000		0
Profit and loss account		( 472,372 )		( 471,790 )
Total shareholders' deficit		( 442,234)		( 471,652)

For the financial year ending 30 November 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Trymbank Developments Limited (registered number: SC330873) were approved and authorised for issue by the Director on 24 August 2022. They were signed on its behalf by:

Ms S Lang 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

Trymbank Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 218 St. Vincent Street, Glasgow, G2 5SG, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £442,234. The Company is supported through loans from Related Companies. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Related Companies will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

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 director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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 and loans from fellow group companies, 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.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Investment property

	Investment property
	£
Valuation
As at 01 December 2020	150,000
Fair value movement	30,000
As at 30 November 2021	180,000

Valuation

The valuation of the investment property was made as at 30 November 2021 by the director with the assistance of a close contact surveyor.

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

	2021		2020
	£		£
Historic cost	414,266		414,266

4. Debtors

	2021		2020
	£		£
Debtors: amounts falling due within one year
Trade debtors	3,237		7,862
Debtors: amounts falling due after more than one year
Amounts owed by fellow subsidiaries	27,556		20,884
Amounts owed by related parties	5,207		0
	32,763		20,884

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Other creditors	3,996		5,370
Other taxation and social security	1,495		3,574
	5,491		8,944

Secured Debt - Bank of Scotland PLC contains a floating charge over the property of the company.

6. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Amounts owed to Group undertakings	183,488		192,148
Amounts owed to related parties	342,156		330,920
Other creditors	128,000		128,000
	653,644		651,068

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
74 A ordinary shares of £ 1.00 each	74		74
32 B ordinary shares of £ 1.00 each	32		32
32 C ordinary shares of £ 1.00 each	32		32
	138		138

8. Related party transactions

Transactions with the entity's director

	2021		2020
	£		£
Amounts due to the director	101		101

Other related party transactions

	2021		2020
	£		£
Amounts due to related parties	525,644		523,068
Amounts due from related parties	32,763		20,884