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REGISTERED NUMBER: 08785847 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Trinsic Limited

Trinsic Limited (Registered number: 08785847)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Trinsic Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: D Webb
A Kandiah





REGISTERED OFFICE: Forum 3, Parkway
Whiteley
Fareham
Hampshire
PO15 7FH





REGISTERED NUMBER: 08785847 (England and Wales)





ACCOUNTANTS: AM-PM Accounting Solutions Limited
Building 6000
Langstone Technology Park
Langstone Road
Havant
Hampshire
PO9 1SA

Trinsic Limited (Registered number: 08785847)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,364 30,018

CURRENT ASSETS
Stocks 5 2,000 2,000
Debtors 6 483,679 495,893
Cash at bank 1,618,831 1,066,868
2,104,510 1,564,761
CREDITORS
Amounts falling due within one year 7 1,562,161 1,507,600
NET CURRENT ASSETS 542,349 57,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

555,713

87,179

CREDITORS
Amounts falling due after more than one year 8 - (10,160 )

PROVISIONS FOR LIABILITIES (2,455 ) (2,154 )
NET ASSETS 553,258 74,865

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 503,636 503,636
Retained earnings 48,622 (429,771 )
SHAREHOLDERS' FUNDS 553,258 74,865

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Trinsic Limited (Registered number: 08785847)

Balance Sheet - continued
31 December 2022


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 September 2023 and were signed on its behalf by:





D Webb - Director


Trinsic Limited (Registered number: 08785847)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Trinsic 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.

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.

Changes in accounting policies
For the year ended 31st December 2020 and all foreseeable future years, there has been a change to the accounting policy relating to revenue recognition. This is detailed below under the revenue recognition.

Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow the the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

* network commissions revenue is recognised with reference to the stage of completion of the service under the individual contract with the Mobile Network Operator.

* revenue from sales of goods is recognised at the point of sales or, where later, upon delivery to the customer and is stated net of returns.

* revenue earned from the ongoing performance obligation to provide customer support is recognised over the term of the contracts when the company delivers the performance of its contractual obligations. At the end deferred income predominantly related to deferred customer support revenues.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

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

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.


Trinsic Limited (Registered number: 08785847)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2022 33,564 20,533 49,952 104,049
Additions - - 599 599
Disposals - (20,533 ) - (20,533 )
At 31 December 2022 33,564 - 50,551 84,115
DEPRECIATION
At 1 January 2022 24,350 7,392 42,289 74,031
Charge for year 2,005 438 2,107 4,550
Eliminated on disposal - (7,830 ) - (7,830 )
At 31 December 2022 26,355 - 44,396 70,751
NET BOOK VALUE
At 31 December 2022 7,209 - 6,155 13,364
At 31 December 2021 9,214 13,141 7,663 30,018

Trinsic Limited (Registered number: 08785847)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. STOCKS
31.12.22 31.12.21
£    £   
Stocks 2,000 2,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 388,047 65,242
Amounts owed by group undertakings 360 -
Other debtors 95,272 430,651
483,679 495,893

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 210,779 409,547
Taxation and social security 94,473 12,384
Other creditors 1,256,909 1,085,669
1,562,161 1,507,600

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Other creditors - 10,160

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Webb, by virtue of his ownership of 100% of the voting share capital.