Tryway Properties Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 30 April 2021
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 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
1
1
Current assets
Debtors
4
187,317
106,209
Cash at bank and in hand
1,273,091
1,475,109
1,460,408
1,581,318
Creditors: amounts falling due within one year
5
(2,607)
(13,774)
Net current assets
1,457,801
1,567,544
Total assets less current liabilities
1,457,802
1,567,545
Capital and reserves
Called up share capital
6
120,000
120,000
Profit and loss reserves
1,337,802
1,447,545
Total equity
1,457,802
1,567,545
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he 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 29 September 2021
D Constantinou
Director
Company Registration No. 03344299
Tryway Properties Limited
Statement of Changes in Equity
For the year ended 30 April 2021
Page 2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 May 2019
120,000
1,623,819
1,743,819
Year ended 30 April 2020:
Profit and total comprehensive income for the year
-
48,726
48,726
Dividends
-
(225,000)
(225,000)
Balance at 30 April 2020
120,000
1,447,545
1,567,545
Year ended 30 April 2021:
Profit and total comprehensive income for the year
-
257
257
Dividends
-
(110,000)
(110,000)
Balance at 30 April 2021
120,000
1,337,802
1,457,802
Tryway Properties Limited
Notes to the Financial Statements
For the year ended 30 April 2021
Page 3
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 a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The director has assessed the impact of the worldwide COVID-19 pandemic on the company and considers any impact or delays to be short term only. As a result the director believes that the company will be able to continue in business and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements.
On this basis, the director considers it appropriate for the accounts to be prepared on the going concern basis.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.4
Cash and cash equivalents
Cash at bank and in hand
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.
1.5
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Tryway Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2021
1
Accounting policies
(Continued)
Page 4
1.7
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
(2020: 0).
3
Fixed asset investments
2021
2020
£
£
Investments
1
1
Movements in fixed asset investments
Investment in jointly controlled entity
£
Cost
At 1 May 2020 & 30 April 2021
1
Carrying amount
At 30 April 2021
1
At 30 April 2020
1
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts due from jointly controlled entity
186,792
106,209
Other debtors
525
187,317
106,209
Tryway Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2021
Page 5
5
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
52
11,424
Other creditors
2,555
2,350
2,607
13,774
6
Called up share capital
2021
2020
£
£
Issued and fully paid
120,000 Ordinary shares of £1 each
120,000
120,000
7
Related party transactions
At the year end, an amount of £186,792 (2020: £106,209 ) was due from Chapter Investments Limited, a company under joint control. During the year interest of £3,566 (2020: £3,291) was charged on this loan.
8
Directors' transactions
Dividends totalling £110,000 (2020 - £225,000) were paid in the year in respect of shares held by the company's directors.