Company Registration No. 01406214 (England and Wales)
TREKGATE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 FEBRUARY 2016
TREKGATE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
TREKGATE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
2 FEBRUARY 2016
02 February 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,185,296
1,102,348
Investments
2
99
99
1,185,395
1,102,447
Current assets
Debtors
18,303
10,663
Cash at bank and in hand
37,356
53,626
55,659
64,289
Creditors: amounts falling due within one year
(129,909)
(111,725)
Net current liabilities
(74,250)
(47,436)
Total assets less current liabilities
1,111,145
1,055,011
Creditors: amounts falling due after more than one year
3
(102,486)
(149,206)
1,008,659
905,805
Capital and reserves
Called up share capital
4
2
2
Revaluation reserve
392,315
309,315
Other reserves
1
1
Profit and loss account
616,341
596,487
Shareholders' funds
1,008,659
905,805
TREKGATE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
2 FEBRUARY 2016
02 February 2016
- 2 -
For the financial year ended 2 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 18 October 2016
J T Kevill
Director
Company Registration No. 01406214
TREKGATE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 2 FEBRUARY 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for rents excluding value added tax during the year.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets include investment properties professionally valued by a Chartered Surveyor on an existing use open market value basis. Other tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Office furniture and fittings
15% reducing balance
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Investments
The investment represents the purchase cost of shares in a dormant subsidiary company.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.7
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
TREKGATE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 2 FEBRUARY 2016
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost or valuation
At 3 February 2015
1,106,451
99
1,106,550
Revaluation
83,000
-
83,000
At 2 February 2016
1,189,451
99
1,189,550
Depreciation
At 3 February 2015
4,103
-
4,103
Charge for the year
52
-
52
At 2 February 2016
4,155
-
4,155
Net book value
At 2 February 2016
1,185,296
99
1,185,395
At 2 February 2015
1,102,348
99
1,102,447
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
64 High Street Limited
England and Wales
Ordinary
99.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
64 High Street Limited
Not trading
-
-
64 High Street Limited was incorporated on 12 August 2002 and has never traded. There is no intention for this company to commence trading in the forseeable future.
TREKGATE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 2 FEBRUARY 2016
- 5 -
3
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
18,217
38,091
The aggregate amount of creditors for which security has been given amounted to £102,592 (2015 - £116,055).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2