Trinity Court Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 03157626 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 September 2016

for

Trinity Court Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

JR Asplin

D Monks

REGISTERED OFFICE:

Westgate House

Westgate Avenue

Bolton

BL1 4RF

REGISTERED NUMBER:

03157626 (England and Wales)

ACCOUNTANTS:

Shankley Enterprises Limited

Chartered Accountants

Stramongate House

53 Stramongate

Kendal

Cumbria

LA9 4BH

FIXED ASSETS

Tangible assets

2

460,905

518,447

CURRENT ASSETS

Debtors

1,625,115

1,691,058

Cash at bank

4,105

8,793

1,629,220

1,699,851

CREDITORS

Amounts falling due within one year

804,596

551,025

NET CURRENT ASSETS

824,624

1,148,826

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,285,529

1,667,273

CREDITORS

Amounts falling due after more than
one year

3

1,615,077

2,009,249

NET LIABILITIES

(329,548

)

(341,976

)

CAPITAL AND RESERVES

Called up share capital

4

1,500

Profit and loss account

(331,048

)

(343,476

)

SHAREHOLDERS' FUNDS

(329,548

)

(341,976

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 25 May 2017 and were signed on its
behalf by:

JR Asplin - Director

D Monks - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The accounts have been prepared on a going concern basis notwithstanding the excess of liabilities

over assets.

Because of the forbearance of the company's creditors, the director is confident that the company

will be able to continue its business activities in the foreseeable future.

Turnover

Turnover comprises rents received, ground rents, maintenance charges and ancillary services

received.

Tangible fixed assets

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

Freehold property

-

2% on cost

Long leasehold

-

2% on cost

Fixtures and fittings

-

15% on cost

Tangible fixed assets are stated at cost or valuation less depreciation.

The accounts do not comply with the requirements of Financial Reporting Standard for Smaller

Entities (effective January 2015), which requires that investment properties are to be included in the

balance sheet at their open market value, as the director does not consider that a revaluation of the

company's investment properties for the purpose of the accounts would be beneficial to the

shareholders.

However, at the year end the director is of the opinion that the market values of the company's

interest in land & buildings are in aggregate in excess of their book values.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

707,041

Additions

192,000

Disposals

(264,200

)

At 30 September 2016

634,841

DEPRECIATION

At 1 October 2015

188,594

Charge for year

12,398

Eliminated on disposal

(27,056

)

At 30 September 2016

173,936

NET BOOK VALUE

At 30 September 2016

460,905

At 30 September 2015

518,447

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

2016

2015

£

Repayable otherwise than by instalments

1,615,077

2,009,249

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,500

Ordinary

£1.00

1,500

5.	RELATED PARTY DISCLOSURES

1. Transactions with companies of which director John R Asplin is also a director & shareholder or

has an interest:-

(i) Saddleback Holdings Ltd

Expenditure £ Nil (2015: £ 5,000)

(ii) Time & Tide Residential Limited

Expenditure £ 25,000 (2015: £ 25,000)

(iii) Time & Tide Homes Limited

Expenditure £ 324,820 (2015: £ 299,200)

2. Loans to companies of which director John R Asplin is also a director & shareholder, or has an

interest:-

(i) Lakes Build Ltd £ Nil (2015: £ 734)

(ii) Time & Tide Residential Limited £ Nil (2015: £ 51,681)

There are no formal terms for repayment, other than these loans being repayable on demand.

There is no interest payable on these loans.

The balances owed to the company by these companies at the year end are included in other

debtors.

The balance outstanding at 30 September 2016 £19,140, was written off in full by Trinity Court Ltd.

3. Loans from companies of which director John R Asplin is also a director & shareholder, or has an

interest:-

(i) Lakes Build Ltd £ 887 (2015: £ Nil)

There are no formal terms for repayment, other than these loans being repayable on demand.

There is no interest payable on these loans.

The balances owed by the company to these companies at the year end are included in other

creditors.

6.	ULTIMATE CONTROLLING PARTY

There was no ultimate controlling party during the period, nor for the previous period.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Trinity Court Ltd for the year ended 30 September 2016 which

comprise the Profit and Loss Account, the Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Trinity Court Ltd, as a body, in accordance with the terms of our engagement letter dated 12 June 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Trinity Court Ltd and state those matters that we have agreed to state to the Board of Directors of Trinity Court Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trinity Court Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Trinity Court 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 Trinity Court Ltd. You consider that Trinity Court 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 Trinity Court 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.

Shankley Enterprises Limited

Chartered Accountants

Stramongate House

53 Stramongate

Kendal

Cumbria

LA9 4BH

25 May 2017