Trimscale Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01664532 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Trimscale Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs V C Edwards

A P Edwards

O Edwards

W D Edwards

C G Edwards

SECRETARY:

A P Edwards

REGISTERED OFFICE:

Cabourn House

Station Street

Bingham

Nottinghamshire

NG13 8AQ

REGISTERED NUMBER:

01664532 (England and Wales)

ACCOUNTANTS:

Bostockwhite Limited

Cabourn House

Station Street

Bingham

Nottinghamshire

NG13 8AQ

BANKERS:

Svenska Handelsbanken

The Point

Welbeck Road

West Bridgford

Nottinghamshire

NG2 7QW

FIXED ASSETS

Tangible assets

4

2,366

2,803

Investment property

5

1,754,639

2,267,623

1,757,005

2,270,426

CURRENT ASSETS

Debtors

6

11,689

17,858

Cash at bank

1,132,461

600,706

1,144,150

618,564

CREDITORS

Amounts falling due within one year

7

45,024

33,235

NET CURRENT ASSETS

1,099,126

585,329

TOTAL ASSETS LESS CURRENT LIABILITIES

2,856,131

2,855,755

PROVISIONS FOR LIABILITIES

8

41,369

41,369

NET ASSETS

2,814,762

2,814,386

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

9

997,424

997,424

Retained earnings

1,816,338

1,815,962

SHAREHOLDERS' FUNDS

2,814,762

2,814,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 13 May 2023 and were signed on its behalf by:

A P Edwards - Director

1.	STATUTORY INFORMATION

Trimscale Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable from the investment property portfolio.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains or losses, to the extent that they are recoverable, at the rate expected to apply when the property is sold.

Movements in these fair values are transferred to the revaluation reserve for a clear separation of realised and unrealised gains and losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2022

and 31 March 2023

14,346

DEPRECIATION

At 1 April 2022

11,543

Charge for year

437

At 31 March 2023

11,980

NET BOOK VALUE

At 31 March 2023

2,366

At 31 March 2022

2,803

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

2,267,623

Additions

23,172

Disposals

(536,156

)

At 31 March 2023

1,754,639

NET BOOK VALUE

At 31 March 2023

1,754,639

At 31 March 2022

2,267,623

Fair value at 31 March 2023 is represented by:

£

Valuation in 2006

942,307

Cost

812,332

1,754,639

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.23

31.3.22

£

£

Cost

1,325,316

1,325,316

Investment properties were valued on a tenanted valuation basis on 5 June 2006 by Wood Moore & Company, Chartered Surveyors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

5,591

17,173

Other debtors

6,098

685

11,689

17,858

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

4,554

4,191

Taxation and social security

8,450

9,689

Other creditors

32,020

19,355

45,024

33,235

8.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

41,369

41,369

Deferred

tax

£

Balance at 1 April 2022

41,369

Balance at 31 March 2023

41,369

9.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

997,424

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

Mrs V C Edwards

Balance outstanding at start of year

-

-

Amounts advanced

6,774

-

Amounts repaid

(1,292

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,482

-