Company registration number 11040965 (England and Wales)
Trimaster U.K. Limited
Audited Financial Statements
For the year ended
31 March 2023
Pages for filing with registrar
Trimaster U.K. Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Trimaster U.K. Limited
Statement Of Financial Position
As at 31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
73
208
Current assets
Debtors
5
1,960
13,803
Cash at bank and in hand
18,004
45,474
19,964
59,277
Creditors: amounts falling due within one year
6
(178,703)
(32,709)
Net current (liabilities)/assets
(158,739)
26,568
Total assets less current liabilities
(158,666)
26,776
Creditors: amounts falling due after more than one year
7
(125,000)
Net liabilities
(158,666)
(98,224)
Capital and reserves
Called up share capital
75,000
75,000
Profit and loss reserves
(233,666)
(173,224)
Total equity
(158,666)
(98,224)
The notes on pages 2 to 5 form part of these financial statements.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 September 2023
A. Khanna
Director
Company registration number 11040965 (England and Wales)
Trimaster U.K. Limited
Notes To The Financial Statements
For the year ended 31 March 2023
- 2 -
1
General information
Trimaster U.K. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE.
2
Accounting policies
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has confirmed that he will provide such financial support as is necessary for the company to continue in operational existence for a period of at least twelve months from the date of signing the financial statements. Therefore the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is inclusive of VAT and other sales related taxes.
2.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
Trimaster U.K. Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2023
2
Accounting policies
(Continued)
- 3 -
2.6
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
2.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
2.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
Trimaster U.K. Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2023
- 4 -
4
Tangible fixed assets
Equipment
£
Cost
At 1 April 2022 and 31 March 2023
541
Depreciation and impairment
At 1 April 2022
333
Depreciation charged in the year
135
At 31 March 2023
468
Carrying amount
At 31 March 2023
73
At 31 March 2022
208
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,000
Other debtors
4,949
Prepayments and accrued income
1,960
5,854
1,960
13,803
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,679
8,720
Amounts owed to group undertakings
14,447
Taxation and social security
586
1,708
Other creditors
172,438
7,834
178,703
32,709
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
125,000
Trimaster U.K. Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2023
- 5 -
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Julia Wigram FCA
Statutory Auditor:
Dixcart Audit LLP
9
Directors' transactions
At the year end, the company owed the director £148,083, this was the maximum balance during the year (2022: £83 due within one year, and £125,000 due after more than one year). The loan is shown within other creditors and is interest free and repayable on demand.