Trivselhus UK Limited 09829008 false 2022-10-01 2023-03-31 2023-03-31 The principal activity of the company is property development Digita Accounts Production Advanced 6.30.9574.0 true false true 09829008 2022-10-01 2023-03-31 09829008 2023-03-31 09829008 bus:OrdinaryShareClass1 2023-03-31 09829008 core:CurrentFinancialInstruments 2023-03-31 09829008 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09829008 core:BetweenTwoFiveYears 2023-03-31 09829008 core:WithinOneYear 2023-03-31 09829008 core:FurnitureFittings 2023-03-31 09829008 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 09829008 core:MotorVehicles 2023-03-31 09829008 core:OfficeEquipment 2023-03-31 09829008 bus:SmallEntities 2022-10-01 2023-03-31 09829008 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-03-31 09829008 bus:FullAccounts 2022-10-01 2023-03-31 09829008 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-03-31 09829008 bus:RegisteredOffice 2022-10-01 2023-03-31 09829008 bus:Director1 2022-10-01 2023-03-31 09829008 bus:Director2 2022-10-01 2023-03-31 09829008 bus:OrdinaryShareClass1 2022-10-01 2023-03-31 09829008 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-03-31 09829008 core:FurnitureFittings 2022-10-01 2023-03-31 09829008 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-03-31 09829008 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-01 2023-03-31 09829008 core:LeaseholdImprovements 2022-10-01 2023-03-31 09829008 core:MotorVehicles 2022-10-01 2023-03-31 09829008 core:OfficeEquipment 2022-10-01 2023-03-31 09829008 core:Subsidiary1 2022-10-01 2023-03-31 09829008 core:Subsidiary1 1 2022-10-01 2023-03-31 09829008 core:Subsidiary1 countries:AllCountries 2022-10-01 2023-03-31 09829008 core:Subsidiary2 2022-10-01 2023-03-31 09829008 core:Subsidiary2 1 2022-10-01 2023-03-31 09829008 core:Subsidiary2 countries:AllCountries 2022-10-01 2023-03-31 09829008 countries:EnglandWales 2022-10-01 2023-03-31 09829008 2022-09-30 09829008 core:CostValuation 2022-09-30 09829008 core:FurnitureFittings 2022-09-30 09829008 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 09829008 core:MotorVehicles 2022-09-30 09829008 core:OfficeEquipment 2022-09-30 09829008 2022-01-01 2022-09-30 09829008 2022-09-30 09829008 bus:OrdinaryShareClass1 2022-09-30 09829008 core:CurrentFinancialInstruments 2022-09-30 09829008 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 09829008 core:BetweenTwoFiveYears 2022-09-30 09829008 core:WithinOneYear 2022-09-30 09829008 core:FurnitureFittings 2022-09-30 09829008 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 09829008 core:MotorVehicles 2022-09-30 09829008 core:OfficeEquipment 2022-09-30 09829008 core:Subsidiary1 1 2022-01-01 2022-09-30 09829008 core:Subsidiary2 1 2022-01-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company Registration number: 09829008

Trivselhus UK Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 October 2022 to 31 March 2023

 

Trivselhus UK Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Trivselhus UK Limited

Company Information

Directors

J G Harris

D Fish

Registered office

York House
41 Sheet Street
Windsor
SL4 1DD

Accountants

Evelyn Partners
First Floor
2 Collingwood Street
Newcastle upon Tyne
NE1 1JF

 

Trivselhus UK Limited

(Registration number: 09829008)
Statement of Financial Position as at 31 March 2023

Note

6 months to 31 March 2023
£

9 months to 30 September 2022
£

Fixed assets

 

Tangible assets

4

67,996

13,412

Investments

5

2

1

 

67,998

13,413

Current assets

 

Stocks

6

-

8,271,494

Debtors

7

3,565,340

3,439,619

Cash at bank and in hand

 

488,926

10,997,819

 

4,054,266

22,708,932

Creditors: Amounts falling due within one year

8

(1,314,332)

(21,910,750)

Net current assets

 

2,739,934

798,182

Net assets

 

2,807,932

811,595

Capital and reserves

 

Called up share capital

9

100

7,234,701

Retained earnings

2,807,832

(6,423,106)

Shareholders' funds

 

2,807,932

811,595

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

 

Trivselhus UK Limited

(Registration number: 09829008)
Statement of Financial Position as at 31 March 2023 (continued)

Approved and authorised by the Board on 27 October 2023 and signed on its behalf by:
 

.........................................
D Fish
Director

 

Trivselhus UK Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
York House
41 Sheet Street
Windsor
SL4 1DD

These financial statements were authorised for issue by the Board on 27 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of the goods and the provision of the services in the ordinary course of the companies activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue and profit on sale of development of properties at the point of legal completion. Profit is recognised on a plot-by-plot basis, by reference to the margin forecast across the relevant developments site, Due to the development cycle often exceeding one financial year, plot margins are forecast, taking into account the allocation of site-wide developments costs such as infrastructure, and estimates required for the cost of completion of such developments.

 

Trivselhus UK Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

3 years straight line

Leasehold improvements

3 years straight line

Motor vehicles

5 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Trivselhus UK Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023 (continued)

2

Accounting policies (continued)

Stocks

Stocks which comprise land held for development, work in progress and finished and part exchange houses are stated at the lower of costs and net realisable value. Costs includes materials, direct labour and production overheads appropriate to the relevant stage of production, Net realisable value is based on estimated selling price less all further costs to completion and all relevant marketing, selling and distribution costs.

Land options are values at historical costs including promotional and other directly attributable expenditure. Net realisable value is based on the ultimate value of the site after consideration of developments an other associated costs, Regular review for impairment are undertaken and provisions are make accordingly.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Trivselhus UK Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2022 - 6).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 October 2022

23,764

17,691

76,609

-

Additions

-

-

5,293

59,752

Disposals

-

-

(9,401)

-

At 31 March 2023

23,764

17,691

72,501

59,752

Depreciation

At 1 October 2022

23,573

17,542

63,537

-

Charge for the period

160

149

5,337

3,983

Eliminated on disposal

-

-

(8,569)

-

At 31 March 2023

23,733

17,691

60,305

3,983

Carrying amount

At 31 March 2023

31

-

12,196

55,769

At 30 September 2022

191

149

13,072

-

 

Trivselhus UK Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023 (continued)

4

Tangible assets (continued)

Total
£

Cost or valuation

At 1 October 2022

118,064

Additions

65,045

Disposals

(9,401)

At 31 March 2023

173,708

Depreciation

At 1 October 2022

104,652

Charge for the period

9,629

Eliminated on disposal

(8,569)

At 31 March 2023

105,712

Carrying amount

At 31 March 2023

67,996

At 30 September 2022

13,412

Included within the net book value of land and buildings above is £31 (2022 - £191) in respect of freehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in subsidiaries

2

1

Subsidiaries

£

At 1 October 2022

2

Carrying amount

At 31 March 2023

2

At 30 September 2022

1

 

Trivselhus UK Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023 (continued)

5

Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Trivselhus Construction Limited

York House, 41 Sheet Street, Windsor, England, SL4 1DD

England & Wales

Ordinary shares

100%

100%

Swedish Lifestyle Homes No.3 Limited

York House, 41 Sheet Street, Windsor, England, SL4 1DD

England & Wales

Ordinary shares

100%

100%

6

Stocks

2023
£

2022
£

Work in progress

-

8,271,494

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

3,600

-

Amounts owed by related parties

12

3,010,498

3,196,649

Prepayments

 

63,492

39,517

Other debtors

 

487,750

203,453

   

3,565,340

3,439,619

 

Trivselhus UK Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

-

20,907,313

Trade creditors

 

54,989

124,036

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

804,259

-

Taxation and social security

 

211,851

27,488

Accruals and deferred income

 

240,535

832,391

Other creditors

 

2,698

19,522

 

1,314,332

21,910,750

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share of £1 each

100

100

7,234,701

7,234,701

         

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

-

20,907,313

 

Trivselhus UK Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023 (continued)

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

42,000

42,000

Later than one year and not later than five years

10,500

31,500

52,500

73,500

The amount of non-cancellable operating lease payments recognised as an expense during the period was £23,604 (2022 - £35,406).

12

Related party transactions

No transactions with related parties were undertaken such as required to be disclosed under FRS 102 Section 1A small entities.

Directors' remuneration

The directors' remuneration for the period was as follows:

2023
£

2022
£

Remuneration

52,320

228,390

Contributions paid to money purchase schemes

19,382

21,714

Compensation for loss of office

1,295

11,655

72,997

261,759