0 false false false false false false false false false true false false false false false false No description of principal activity 2020-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,475,000 1,475,000 1,475,000 xbrli:pure xbrli:shares iso4217:GBP 03884904 2020-12-01 2021-11-30 03884904 2021-11-30 03884904 2020-11-30 03884904 2019-12-01 2020-11-30 03884904 2020-11-30 03884904 2019-11-30 03884904 bus:Director1 2020-12-01 2021-11-30 03884904 bus:Director2 2020-12-01 2021-11-30 03884904 core:WithinOneYear 2021-11-30 03884904 core:WithinOneYear 2020-11-30 03884904 core:AfterOneYear 2021-11-30 03884904 core:AfterOneYear 2020-11-30 03884904 core:UKTax 2020-12-01 2021-11-30 03884904 core:UKTax 2019-12-01 2020-11-30 03884904 core:ShareCapital 2021-11-30 03884904 core:ShareCapital 2020-11-30 03884904 core:RevaluationReserve 2021-11-30 03884904 core:RevaluationReserve 2020-11-30 03884904 core:RetainedEarningsAccumulatedLosses 2021-11-30 03884904 core:RetainedEarningsAccumulatedLosses 2020-11-30 03884904 core:LandBuildings 2021-11-30 03884904 core:LandBuildings 2020-11-30 03884904 bus:Director1 2020-11-30 03884904 bus:Director1 2021-11-30 03884904 bus:Director2 2020-11-30 03884904 bus:Director2 2021-11-30 03884904 bus:Director1 2019-11-30 03884904 bus:Director1 2020-11-30 03884904 bus:Director2 2019-11-30 03884904 bus:Director2 2020-11-30 03884904 bus:Director1 2019-12-01 2020-11-30 03884904 bus:Director2 2019-12-01 2020-11-30 03884904 bus:SmallEntities 2020-12-01 2021-11-30 03884904 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 03884904 bus:FullAccounts 2020-12-01 2021-11-30 03884904 bus:SmallCompaniesRegimeForAccounts 2020-12-01 2021-11-30 03884904 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30
COMPANY REGISTRATION NUMBER: 03884904
Triomnia Limited
Filleted Unaudited Financial Statements
30 November 2021
Triomnia Limited
Statement of Financial Position
30 November 2021
2021
2020
Note
£
£
£
Fixed assets
Tangible assets
6
1,475,000
1,475,000
Current assets
Debtors
7
1,776
1,398
Cash at bank and in hand
29,166
26,125
-------
-------
30,942
27,523
Creditors: amounts falling due within one year
8
15,110
12,696
-------
-------
Net current assets
15,832
14,827
-----------
-----------
Total assets less current liabilities
1,490,832
1,489,827
Creditors: amounts falling due after more than one year
9
396,690
398,970
Provisions
Taxation including deferred tax
123,671
123,671
-----------
-----------
Net assets
970,471
967,186
-----------
-----------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
841,233
841,233
Profit and loss account
129,138
125,853
--------
--------
Shareholders funds
970,471
967,186
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2021 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 .
Triomnia Limited
Statement of Financial Position (continued)
30 November 2021
These financial statements were approved by the board of directors and authorised for issue on 22 July 2022 , and are signed on behalf of the board by:
M Collis
M Child
Director
Director
Company registration number: 03884904
Triomnia Limited
Notes to the Financial Statements
Year ended 30 November 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 28 Park Way, Feltham, Middlesex, TW14 9DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rental income receivable by the company under the lease agreement and is recognised on a straight line basis over the term of the lease.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from 'profit before tax' as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The gain or loss on valuation is recognised in profit or loss and is subsequently transferred within equity to the revaluation reserve together with the associated deferred tax.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash and cash equivalents, trade and other payables, and loans and borrowings. Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value.
4. Employees
There were no employees during the year.
5. Tax on profit
Major components of tax expense
2021
2020
£
£
Current tax:
UK current tax expense
9,215
8,130
------
------
Tax on profit
9,215
8,130
------
------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is the same as (2020: the same as) the standard rate of corporation tax in the UK of 19 % (2020: 19 %).
2021
2020
£
£
Profit on ordinary activities before taxation
48,500
42,792
-------
-------
Profit on ordinary activities by rate of tax
9,215
8,130
-------
-------
6. Tangible assets
Investment property
£
Cost/Valuation
At 1 December 2020 and 30 November 2021
1,475,000
-----------
Depreciation
At 1 December 2020 and 30 November 2021
-----------
Carrying amount
At 30 November 2021
1,475,000
-----------
At 30 November 2020
1,475,000
-----------
The fair value of the investment property is measured by the directors based on the current market valuation. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The net historical cost of the investment property was £510,095 (2020 - £510,095).
7. Debtors
2021
2020
£
£
Other debtors
1,776
1,398
------
------
8. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
2,290
1,201
Corporation tax
9,215
8,130
Other creditors
3,605
3,365
-------
-------
15,110
12,696
-------
-------
9. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
396,690
398,970
--------
--------
Included within creditors: amounts falling due after more than one year is an amount of £388,170 (2020: £388,170) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The interest on the long term bank loan is chargeable at an average rate of 1.00% (2020 - 1.00%) per annum.
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
M Collis
( 288)
( 120)
( 408)
M Child
( 701)
( 120)
( 821)
----
----
------
( 989)
( 240)
( 1,229)
----
----
------
2020
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
M Collis
( 145)
( 143)
( 288)
M Child
( 559)
( 142)
( 701)
----
----
----
( 704)
( 285)
( 989)
----
----
----
The company paid dividends of £18,000 (2020 - £18,000) each to M Child and M Collis .