Trio Estates (Hertfordshire) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05131105 (England and Wales)

TRIO ESTATES (HERTFORDSHIRE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

L S Pinkney

M Shah

SECRETARY:

L S Pinkney

REGISTERED OFFICE:

C/o Keelings

Broad House

1 The Broadway

Old Hatfield

Herts

AL9 5BG

REGISTERED NUMBER:

05131105 (England and Wales)

ACCOUNTANTS:

Keelings Limited

Chartered Tax Advisers and

Chartered Certified Accountants

Broad House

1 The Broadway

Old Hatfield

Herts

AL9 5BG

FIXED ASSETS

Investment property

3

1,925,000

1,650,000

CURRENT ASSETS

Debtors

2

2

Cash at bank

134,000

134,339

134,002

134,341

CREDITORS

Amounts falling due within one year

987,789

156,635

NET CURRENT LIABILITIES

(853,787

)

(22,294

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,071,213

1,627,706

CREDITORS

Amounts falling due after more than one year

(565,000

)

(1,422,000

)

PROVISIONS FOR LIABILITIES

(2,720

)

(26,717

)

NET ASSETS

503,493

178,989

CAPITAL AND RESERVES

Called up share capital

5

3

3

Fair value reserve

6

405,864

106,867

Retained earnings

6

97,626

72,119

SHAREHOLDERS' FUNDS

503,493

178,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 12th December 2018 and were signed on its behalf by:

L S Pinkney - Director

1.	STATUTORY INFORMATION

Trio Estates (Hertfordshire) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

At 31st March 2018 the Company had net current liabilities of £853,787 (2017 - £22,294).

The directors are of the opinion that the current situation is temporary and the Company is able to meet its obligations for the

foreseeable future as and when they fall due having regard to the following:

i) the Company will receive a continued financial support from the shareholders and the directors and they have agreed that

the loans from the directors will not be repaid until the company is in a position to repay them.

ii) the directors have carried out a review of the cash flow forecasts of the Company for the twelve months following the date

of signing of these financial statements and based on such forecast consider that the Company is a going concern.

Accordingly, the Company continues to adopt the going concern basis of accounting in preparing theses financial statements.

Turnover

Turnover represents amounts receivable for rent during the period net of VAT.

Investment property

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 tax is provided on any surplus at the rate expected to apply when the property is sold.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and

non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial

instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2017

1,650,000

Revaluations

275,000

At 31st March 2018

1,925,000

NET BOOK VALUE

At 31st March 2018

1,925,000

At 31st March 2017

1,650,000

Fair value at 31st March 2018 is represented by:

£

Valuation in 2010

1,516,416

Valuation in 2012

(766,416

)

Valuation in 2013

900,000

Valuation in 2018

275,000

1,925,000

If Freehold Investment Property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

1,516,416

1,516,416

Freehold Investment Property was valued on an open market basis on 31st March 2018 by the directors .

4.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

867,000

901,500

The finance company loan is secured by a fixed and floating charge over the freehold investment property and all other

assets of the company.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

3

Ordinary

1

3

3

6.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1st April 2017

72,119

106,867

178,986

Profit for the year

297,787

297,787

Increase in the value of

investment property

-

272,280

272,280

Deferred tax adjustment

-

26,717

26,717

Transfer to Investment reserve

(272,280

)

-

(272,280

)

At 31st March 2018

97,626

405,864

503,490

7.	RELATED PARTY DISCLOSURES

Prime UK Properties Limited

Parent company of the reporting entity

Included within creditors due after more than one year is a loan of £565,000 (2017- £555,000) due to the shareholders of the

parent company. The loan is interest free and not repayable on demand.

The net present value of the future cash flows payable for this loan is £538,095 (2017 - £503,401). The loan has not been

discounted to the net present value of future cash flows.

8.	POST BALANCE SHEET EVENTS

The directors are in the process of selling the investment property owned by the company and repay the bank loan fully.

9.	ULTIMATE CONTROLLING PARTY

Parent company

Prime UK Properties Limited is regarded by the directors as being the company's ultimate parent company.

In view of the nature of allocation of the shares in the parent undertaking, no single individual has overall control of the

parent company. The same criteria applied to the previous year.

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

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the

Directors are not required to be filed with the Registrar of Companies.

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

statements of Trio Estates (Hertfordshire) Limited for the year ended 31st March 2018 which comprise the Abridged Income

Statement, Abridged 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Trio Estates (Hertfordshire) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Trio Estates (Hertfordshire) Limited and state those matters that we have agreed to state to the Board of Directors of Trio Estates (Hertfordshire) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Trio Estates (Hertfordshire) Limited 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 Trio Estates (Hertfordshire) Limited. You consider that Trio Estates (Hertfordshire) Limited 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 Trio Estates (Hertfordshire) Limited. 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.

Keelings Limited

Chartered Tax Advisers and

Chartered Certified Accountants

Broad House

1 The Broadway

Old Hatfield

Herts

AL9 5BG

12th December 2018