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REGISTERED NUMBER: 04629839 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Trimast Associates Limited

Trimast Associates Limited (Registered number: 04629839)






Contents of the Financial Statements
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Trimast Associates Limited

Company Information
for the year ended 31 January 2023







DIRECTOR: G F Hand





SECRETARY:





REGISTERED OFFICE: Unit 6
Cherrytree Farm
Blackmore End Road
Sible Hedingham
Essex
CO9 3LZ





REGISTERED NUMBER: 04629839 (England and Wales)





ACCOUNTANTS: Simpson Accountancy
Unit 6, CherryTree Farm,
Blackmore End Road
Sible Hedingham
CO9 3LG

Trimast Associates Limited (Registered number: 04629839)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,535,383 3,547,678
Investments 5 2,077,362 1,998,020
5,612,745 5,545,698

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 6 970,798 2,731,029
Cash at bank and in hand 118,505 170,768
1,109,303 2,921,797
CREDITORS
Amounts falling due within one year 7 3,033,279 3,019,199
NET CURRENT LIABILITIES (1,923,976 ) (97,402 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,688,769

5,448,296

CREDITORS
Amounts falling due after more than one
year

8

(1,471,547

)

(1,393,526

)

PROVISIONS FOR LIABILITIES 9 (2,159 ) (4,477 )
NET ASSETS 2,215,063 4,050,293

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 2,214,063 4,049,293
SHAREHOLDERS' FUNDS 2,215,063 4,050,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Trimast Associates Limited (Registered number: 04629839)

Balance Sheet - continued
31 January 2023


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 director and authorised for issue on 25 October 2023 and were signed by:





G F Hand - Director


Trimast Associates Limited (Registered number: 04629839)

Notes to the Financial Statements
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Trimast Associates 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

Trimast Associates Limited (Registered number: 04629839)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 3,515,568 183,779 3,699,347
Additions - 769 769
At 31 January 2023 3,515,568 184,548 3,700,116
DEPRECIATION
At 1 February 2022 - 151,669 151,669
Charge for year - 13,064 13,064
At 31 January 2023 - 164,733 164,733
NET BOOK VALUE
At 31 January 2023 3,515,568 19,815 3,535,383
At 31 January 2022 3,515,568 32,110 3,547,678

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Investment options 60,000 60,000
Investment in Finland 1,731,946 1,652,604
Other Investments 285,416 285,416
2,077,362 1,998,020

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 761,303 2,526,334
Other debtors 209,495 204,695
970,798 2,731,029

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,029 97,770
Trade creditors 3 -
Amounts owed to associates 1,663,941 1,672,622
Taxation and social security 19,522 9,074
Other creditors 1,317,784 1,239,733
3,033,279 3,019,199

Trimast Associates Limited (Registered number: 04629839)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,471,547 1,393,526

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 60,000 60,000

Repayable by instalments
Bank loans more 5 yr by instal 1,387,500 1,117,631

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,159 4,477

Deferred
tax
£   
Balance at 1 February 2022 4,477
Credit to Income Statement during year (2,318 )
Balance at 31 January 2023 2,159

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary 1 1,000 1,000

Trimast Associates Limited (Registered number: 04629839)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £245,032 (2021: £245,901 owed from) to Holme Property & Maintenance Development Limited, a company of which George Hand is also a director.

During the year the company paid expenses totalling £2,930 (2022: £2,755) on behalf of Hands on Property Ltd, a company of which George Hand is also a director. At the balance sheet date the company owed £939,506 (2022: £928,237) to Hands on Property Ltd.

During the year the company loaned monies and paid expenses totalling £45,605 (2022: £1,366) to Home Property & Development Ltd, a company of which George Hand is also a director. At the balance sheet date the company was owed £106,455 (2022: £60,850) by Home Property & Development Ltd.

During the year the company loaned monies and paid expenses totalling £524 (2022: £14,104) to JBA Development Ltd, a company of which George Hand is also a director. At the balance sheet date the company was owed £33,837 (2022: £33,313 by JBA Development Ltd.

At the balance sheet date the company was owed £92,885 (2022: £92,885) from R&L Mulligan Ltd, a company of which George Hand is also a director.

At the balance sheet date the company owed £479,402 (2022: £498,484) to Trimast Holdings Ltd, a company of which George Hand is also a director.

At the balance sheet date the company was owed £148,839 (2022: £2,000,000 to Braintree Projects Ltd, a company of which George Hand is also a director.

At the balance sheet date the company was owed £90,000 (2022: £50,000 by The Barking Project Ltd, a company of which George Hand is also a director.

All companies are under common control.