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Registration number: 10905206

Trigger Candle Trading Limited

Filleted Unaudited Financial Statements

for the Period from 8 August 2017 to 31 August 2018

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Company Information

Directors

Mr P E Manning

Mr R W Foster

Registered office

Autherley
Staplake Lane
Starcross
Devon
EX6 8QT

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Balance Sheet as at 31 August 2018

Note

2018
£

Fixed assets

 

Intangible assets

4

9,000

Tangible assets

5

3,484

 

12,484

Current assets

 

Debtors

6

778

Cash at bank and in hand

 

23,984

 

24,762

Creditors: Amounts falling due within one year

7

(26,828)

Net current liabilities

 

(2,066)

Total assets less current liabilities

 

10,418

Provisions for liabilities

(447)

Net assets

 

9,971

Capital and reserves

 

Called up share capital

20

Profit and loss account

9,951

Total equity

 

9,971

For the financial period ending 31 August 2018 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Balance Sheet as at 31 August 2018

Approved and authorised by the Board on 6 November 2018 and signed on its behalf by:
 

.........................................

Mr R W Foster
Director

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Notes to the Financial Statements for the Period from 8 August 2017 to 31 August 2018

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Autherley
Staplake Lane
Starcross
Devon
EX6 8QT
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Notes to the Financial Statements for the Period from 8 August 2017 to 31 August 2018

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Notes to the Financial Statements for the Period from 8 August 2017 to 31 August 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Notes to the Financial Statements for the Period from 8 August 2017 to 31 August 2018

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions

10,000

10,000

At 31 August 2018

10,000

10,000

Amortisation

Amortisation charge

1,000

1,000

At 31 August 2018

1,000

1,000

Carrying amount

At 31 August 2018

9,000

9,000

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

3,910

3,910

At 31 August 2018

3,910

3,910

Depreciation

Charge for the period

426

426

At 31 August 2018

426

426

Carrying amount

At 31 August 2018

3,484

3,484

6

Debtors

2018
£

Other debtors

778

Total current trade and other debtors

778

 

Trigger Candle Trading Limited
(Registration number: 10905206)

Notes to the Financial Statements for the Period from 8 August 2017 to 31 August 2018

7

Creditors

Creditors: amounts falling due within one year

2018
£

Due within one year

Taxation and social security

13,428

Other creditors

11,400

Accrued expenses

2,000

26,828