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REGISTERED NUMBER: 01890698 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

TRIFIBRE LIMITED

TRIFIBRE LIMITED (REGISTERED NUMBER: 01890698)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRIFIBRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: Mr NN Cox
Mr M Champaneria
Mr MK Truman
Mr CDJ Cox
Mrs LHMM Cox
Mr SJ Boswell





SECRETARY: Mrs LHMM Cox





REGISTERED OFFICE: 17 Boston Road
Gorse Hill Industrial Estate
Leicester
Leicestershire
LE4 1AW





REGISTERED NUMBER: 01890698 (England and Wales)

TRIFIBRE LIMITED (REGISTERED NUMBER: 01890698)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,433 5,433
Tangible assets 5 480,271 548,827
485,704 554,260

CURRENT ASSETS
Stocks 6 684,039 541,899
Debtors 7 2,403,134 2,392,643
Cash at bank and in hand 21,688 16,536
3,108,861 2,951,078
CREDITORS
Amounts falling due within one year 8 1,548,484 1,584,174
NET CURRENT ASSETS 1,560,377 1,366,904
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,046,081

1,921,164

CREDITORS
Amounts falling due after more than one year 9 (489,711 ) (713,039 )

PROVISIONS FOR LIABILITIES (88,684 ) (101,146 )
NET ASSETS 1,467,686 1,106,979

TRIFIBRE LIMITED (REGISTERED NUMBER: 01890698)

BALANCE SHEET - continued
31 MARCH 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 40,723 40,723
Retained earnings 1,426,963 1,066,256
SHAREHOLDERS' FUNDS 1,467,686 1,106,979

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:





Mr CDJ Cox - Director


TRIFIBRE LIMITED (REGISTERED NUMBER: 01890698)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Trifibre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Covid-19
From late March 2020 the COVID-19 pandemic had an impact on our business operations. To mitigate our costs we have taken advantage of the Government's Coronavirus Job Retention scheme, received the CBILS loan and have reduced costs where possible.

Turnover
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice.

The company supplies products to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


TRIFIBRE LIMITED (REGISTERED NUMBER: 01890698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The scheme is operated for the directors.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Hire purchases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

TRIFIBRE LIMITED (REGISTERED NUMBER: 01890698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2021 - 58 ) .

4. INTANGIBLE FIXED ASSETS
Domain
Name
£   
COST
At 1 April 2021
and 31 March 2022 5,433
NET BOOK VALUE
At 31 March 2022 5,433
At 31 March 2021 5,433

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2021 16,056 1,817,817 438,589 10,394 2,282,856
Additions - 73,251 23,224 - 96,475
Disposals - (4,083 ) - - (4,083 )
At 31 March 2022 16,056 1,886,985 461,813 10,394 2,375,248
DEPRECIATION
At 1 April 2021 16,056 1,377,437 330,142 10,394 1,734,029
Charge for year - 105,900 58,465 - 164,365
Eliminated on disposal - (3,417 ) - - (3,417 )
At 31 March 2022 16,056 1,479,920 388,607 10,394 1,894,977
NET BOOK VALUE
At 31 March 2022 - 407,065 73,206 - 480,271
At 31 March 2021 - 440,380 108,447 - 548,827

TRIFIBRE LIMITED (REGISTERED NUMBER: 01890698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. STOCKS
2022 2021
£    £   
Stocks 573,703 451,324
Work-in-progress 110,336 90,575
684,039 541,899

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 811,596 836,749
Amounts owed by group undertakings 327,221 330,993
Other debtors 1,264,317 1,224,901
2,403,134 2,392,643

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 160,629 27,605
Payments on account 111,936 76,985
Trade creditors 727,980 668,170
Amounts owed to group undertakings 2,803 2,803
Taxation and social security 143,966 209,582
Other creditors 401,170 599,029
1,548,484 1,584,174

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 489,711 713,039

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalment - 120,524
- 120,524

TRIFIBRE LIMITED (REGISTERED NUMBER: 01890698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year - 73,333

11. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 650,340 740,644
HSBC Invoice Finance 198,090 337,512
848,430 1,078,156

The HSBC Bank Plc has a secured debt over assets of the company.

Hire purchase contracts are secured upon the assets to which they relate.

12. RELATED PARTY DISCLOSURES

At the year end the company owed £nil (2021 - £77) to the directors.

No interest was charged on the above balances.

13. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Trifibre Group Limited. The registered office address and the principal place of business of Trifibre Group Limited is 17 Boston Road, Gorse Hill Industrial Estate, Leicester, Leicestershire, LE4 1AW.

The company is the subsidiary undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.