Tryway Properties Limited
Unaudited Financial Statements
For the year ended 30 April 2023
For Filing with Registrar
Company Registration No. 03344299 (England and Wales)
Tryway Properties Limited
Company Information
Director
D Constantinou
Secretary
K Constantinou
Company number
03344299
Registered office
Chapter House
33 London Road
Reigate
Surrey
RH2 9HZ
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Tryway Properties Limited
Balance Sheet
As at 30 April 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
466
Investments
5
72,647
100,000
Cash at bank and in hand
1,338,199
1,345,404
1,411,312
1,445,404
Creditors: amounts falling due within one year
6
(2,014)
(6,767)
Net current assets
1,409,298
1,438,637
Capital and reserves
Called up share capital
7
120,000
120,000
Profit and loss reserves
1,289,298
1,318,637
Total equity
1,409,298
1,438,637
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 August 2023
D Constantinou
Director
Company Registration No. 03344299
Tryway Properties Limited
Notes to the Financial Statements
For the year ended 30 April 2023
Page 2
1
Accounting policies
Company information
Tryway Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chapter House, 33 London Road, Reigate, Surrey, RH2 9HZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Tryway Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
1
Accounting policies
(Continued)
Page 3
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised 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 a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons employed by the company during the year was: 0 (2022: 0).
3
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
72,647
100,000
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
466
Tryway Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
Page 4
5
Current asset investments
2023
2022
£
£
Other investments
72,647
100,000
The fair value of current asset investments is based on their market value as at 30 April 2023. The historic cost of current asset investments held at the year end was £100,000 (2022: £100,000).
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,887
Other creditors
2,014
1,880
2,014
6,767
7
Called up share capital
2023
2022
£
£
Issued and fully paid
120,000 Ordinary shares of £1 each
120,000
120,000
8
Directors' transactions
Dividends totalling £0 (2022 - £40,000) were paid in the year in respect of shares held by the company's directors.