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Company Registration No. 05395552 (England and Wales)
TRS UK (Agents) Limited Unaudited accounts for the year ended 30 September 2021
TRS UK (Agents) Limited Unaudited accounts Contents
Page
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TRS UK (Agents) Limited Company Information for the year ended 30 September 2021
Directors
I T Yarwood I A Yarwood
Secretary
E J Smith
Company Number
05395552 (England and Wales)
Registered Office
Unit 4 Duchess Street Industrial Estate Shaw Oldham OL2 7UX
Accountants
Streamline Accountancy Limited Ocean Business Centre Ocean Street Altrincham Cheshire WA14 5QL
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TRS UK (Agents) Limited Statement of financial position as at 30 September 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
27,623 
34,153 
Current assets
Inventories
40,269 
28,513 
Debtors
42,660 
47,209 
Cash at bank and in hand
25,892 
37,675 
108,821 
113,397 
Creditors: amounts falling due within one year
(44,016)
(52,413)
Net current assets
64,805 
60,984 
Total assets less current liabilities
92,428 
95,137 
Creditors: amounts falling due after more than one year
(37,500)
(50,345)
Provisions for liabilities
Deferred tax
(5,025)
(4,449)
Net assets
49,903 
40,343 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
49,901 
40,341 
Shareholders' funds
49,903 
40,343 
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by
I T Yarwood Director Company Registration No. 05395552
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TRS UK (Agents) Limited Notes to the Accounts for the year ended 30 September 2021
1
Statutory information
TRS UK (Agents) Limited is a private company, limited by shares, registered in England and Wales, registration number 05395552. The registered office is Unit 4 Duchess Street Industrial Estate, Shaw, Oldham, OL2 7UX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Presentation currency
The accounts are presented in £ sterling.
Judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Any estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions to accounting estimates are recognised in the period in which the estimate is revised.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
33% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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TRS UK (Agents) Limited Notes to the Accounts for the year ended 30 September 2021
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2020
44,459 
31,516 
6,417 
82,392 
At 30 September 2021
44,459 
31,516 
6,417 
82,392 
Depreciation
At 1 October 2020
24,023 
18,220 
5,996 
48,239 
Charge for the year
3,065 
3,324 
141 
6,530 
At 30 September 2021
27,088 
21,544 
6,137 
54,769 
Net book value
At 30 September 2021
17,371 
9,972 
280 
27,623 
At 30 September 2020
20,436 
13,296 
421 
34,153 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
39,914 
41,439 
Other debtors
2,746 
5,770 
42,660 
47,209 
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TRS UK (Agents) Limited Notes to the Accounts for the year ended 30 September 2021
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
10,000 
2,500 
Obligations under finance leases and hire purchase contracts
2,845 
7,805 
Trade creditors
12,710 
18,796 
Taxes and social security
16,574 
17,689 
Other creditors
579 
3,569 
Loans from directors
1,308 
2,054 
44,016 
52,413 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
37,500 
47,500 
Obligations under finance leases and hire purchase contracts
- 
2,845 
37,500 
50,345 
Of the creditors falling due within and after more than one year the following amounts are secured :- Assets held under HP are secured upon the assets to which they relate.
8
Share capital
2021 
2020 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
The company has taken advantage of exemptions specified in FRS 102 and not disclosed the detail and nature of the following transactions ; non material transactions, transactions concluded under normal market conditions and transaction with companies under common control including Group companies.
10
Controlling party
The ultimate parent company is TRS UK (Holdings) Limited a private company, limited by shares, registered in England and Wales under registration number 09834626. The registered office is Unit 4 Duchess Street Industrial Estate, Shaw, Oldham, OL2 7UX.
11
Average number of employees
During the year the average number of employees was 2 (2020: 2).
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