Trendmore Limited - Accounts to registrar (filleted) - small 24.3

REGISTERED NUMBER: 08515584 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

TRENDMORE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Accountants' Report

9

DIRECTORS:

I F Levy

M A Ruff

REGISTERED OFFICE:

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

REGISTERED NUMBER:

08515584 (England and Wales)

ACCOUNTANTS:

MGR Paris Limited

Chartered Accountants

Russell House

140 High Street

Edgware

HA8 7LW

FIXED ASSETS

Tangible assets

4

1,454

2,195

Investment property

5

2,901,557

2,395,360

2,903,011

2,397,555

CURRENT ASSETS

Debtors

6

46,558

39,324

Cash at bank and in hand

37,415

45,819

83,973

85,143

CREDITORS

Amounts falling due within one year

7

(711,545

)

(487,437

)

NET CURRENT LIABILITIES

(627,572

)

(402,294

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,275,439

1,995,261

CREDITORS

Amounts falling due after more than one year

8

(1,968,411

)

(1,712,749

)

NET ASSETS

307,028

282,512

CAPITAL AND RESERVES

Called up share capital

11

175,100

175,100

Retained earnings

12

131,928

107,412

SHAREHOLDERS' FUNDS

307,028

282,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 11 March 2025 and were signed on its behalf by:

I F Levy - Director

1.	STATUTORY INFORMATION

Trendmore 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 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.

Monetary amounts are rounded to the nearest (£).

Turnover

Turnover represents income receivable from the letting of the investment properties.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Investment property

Investment property is shown at the most recent revaluation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the fair value reserve.

No depreciation is provided in respect of these properties in accordance with the FRS 102. This is a departure from the requirements of the Companies Act 2006 that depreciation is charged to systematically write off the cost of assets over their useful economic lives. These properties are held primarily for investment and any trading income derived from them is incidental. As such, the director considers depreciation of these properties to be inappropriate. The policy adopted is considered necessary for the financial statements to give a true and fair view.

Interest receivable

Interest receivable is recorded in the profit and loss account on an accruals basis.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Taxation

Current tax is recognised for the amounts of income tax payable in respect of the taxable profit for the current or past reporting requirements using the tax rates and laws that have been enacted or substantively enacted by the reporting dates.

Deferred tax is recognised in respect of all timing differences at the reporting date and are presented within the provision for liabilities using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2023

11,548

Disposals

(7,846

)

At 31 May 2024

3,702

DEPRECIATION

At 1 June 2023

9,353

Charge for year

741

Eliminated on disposal

(7,846

)

At 31 May 2024

2,248

NET BOOK VALUE

At 31 May 2024

1,454

At 31 May 2023

2,195

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2023

2,395,360

Additions

506,197

At 31 May 2024

2,901,557

NET BOOK VALUE

At 31 May 2024

2,901,557

At 31 May 2023

2,395,360

At the year end, the fair value of the investment property was not considered to be different to the historical cost by the directors.Therefore, the investment properties are stated at historical cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.24

31.5.23

£

£

Other debtors

46,558

39,324

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.24

31.5.23

£

£

Trade creditors

4,778

1,870

Taxation and social security

5,924

2,983

Other creditors

700,843

482,584

711,545

487,437

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.24

31.5.23

£

£

Other creditors

1,968,411

1,712,749

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

1,968,411

1,712,749

9.

LOANS

An analysis of the maturity of loans is given below:

31.5.24

31.5.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

1,968,411

1,712,749

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.24

31.5.23

£

£

Mortgage

1,968,411

1,712,749

The mortgages are each secured by way of a fixed charge against the property.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.24

31.5.23

value:

£

£

100

Ordinary

£1

175,100

175,100

12.

RESERVES

Retained

earnings

£

At 1 June 2023

107,412

Profit for the year

24,516

At 31 May 2024

131,928

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 Statement of Financial Position. Readers are cautioned that the 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 Trendmore Limited for the year ended 31 May 2024 which comprise the Income Statement, Statement of Financial Position 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 Trendmore 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 Trendmore Limited and state those matters that we have agreed to state to the Board of Directors of Trendmore Limited, 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 Trendmore Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Trendmore 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 Trendmore Limited. You consider that Trendmore 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 Trendmore 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.

MGR Paris Limited

Chartered Accountants

Russell House

140 High Street

Edgware

HA8 7LW

11 March 2025