Trinity Holdings (East Midlands) Limited Filleted Accounts Cover |
Company No. 02994709 | |||||||||
Trinity Holdings (East Midlands) Limited Directors Report Registrar |
The Directors present their report and the accounts for the year ended 31 October 2022. | |||||||||
Principal activities | |||||||||
Directors | |||||||||
The Directors who served at any time during the year were as follows: | |||||||||
Norman Simpson | (Resigned 23 January 2022) | ||||||||
Paul F Herzberg | |||||||||
Signed on behalf of the board | |||||||||
Paul F Herzberg | |||||||||
Director | |||||||||
25 October 2023 |
Trinity Holdings (East Midlands) Limited Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2022 | 2021 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 4 | |||||||||
Investment property | 5 | |||||||||
Investments | 6 | |||||||||
Current assets | ||||||||||
Debtors | 7 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 8 | ( | ( | |||||||
Net current assets/(liabilities) | ( | |||||||||
Total assets less current liabilities | ||||||||||
Creditors: Amounts falling due after more than one year | 9 | ( | ( | |||||||
Provisions for liabilities | ||||||||||
Deferred taxation | ( | ( | ||||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Share premium account | 12 | |||||||||
Revaluation reserve | 12 | |||||||||
Profit and loss account | 12 | ( | ||||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 25 October 2023 | ||||||||||
And signed on its behalf by: | ||||||||||
Paul F Herzberg | ||||||||||
Director | ||||||||||
25 October 2023 |
Trinity Holdings (East Midlands) Limited Notes to the Accounts Registrar |
for the year ended 31 October 2022 | ||||||||||||||
1 | General information | |||||||||||||
Its registered number is: 02994709 | ||||||||||||||
Its registered office is: | ||||||||||||||
Going concern | ||||||||||||||
2 | Accounting policies | |||||||||||||
Turnover | ||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. | ||||||||||||||
Motor vehicles | ||||||||||||||
Furniture, fittings and equipment | ||||||||||||||
Taxation | ||||||||||||||
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. | ||||||||||||||
Freehold investment property | ||||||||||||||
No depreciation is provided in respect of investment properties. | ||||||||||||||
Investments | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other creditors | ||||||||||||||
Financial instruments | ||||||||||||||
Financial assets | ||||||||||||||
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when: | ||||||||||||||
(a) The contractual rights to the cash flows from the asset expire or are settled; | ||||||||||||||
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or | ||||||||||||||
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. | ||||||||||||||
Financial liabilities | ||||||||||||||
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price. | ||||||||||||||
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. | ||||||||||||||
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method. | ||||||||||||||
Group accounts | ||||||||||||||
The company is a parent undertaking subject to the small companies regime The company and its subsidiary undertaking comprise a small group. The company has therefor taken advantage of the option provided by Section 398 of the Companies Act 2006 not to prepare group accounts. The financial statements therefor present information in respect of the company as an individual entity. | ||||||||||||||
Provisions | ||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. | ||||||||||||||
3 | Employees | |||||||||||||
2022 | 2021 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
4 | Tangible fixed assets | |||||||||||||
Motor vehicles | Fixtures, fittings and equipment | Total | ||||||||||||
£ | £ | £ | ||||||||||||
Cost or revaluation | ||||||||||||||
At 1 November 2021 | ||||||||||||||
At 31 October 2022 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 November 2021 | ||||||||||||||
Charge for the year | ||||||||||||||
At 31 October 2022 | ||||||||||||||
Net book values | ||||||||||||||
At 31 October 2022 | ||||||||||||||
At 31 October 2021 | 1,259 | 175 | ||||||||||||
5 | Investment property | |||||||||||||
Freehold Investment Property | ||||||||||||||
£ | ||||||||||||||
Valuation | ||||||||||||||
At 1 November 2021 | ||||||||||||||
Disposals | ( | |||||||||||||
At 31 October 2022 | ||||||||||||||
6 | Investments | |||||||||||||
Investment in Subsidiaries | Total | |||||||||||||
£ | £ | |||||||||||||
Cost or valuation | ||||||||||||||
At 1 November 2021 | ||||||||||||||
Disposals | ( | ( | ||||||||||||
At 31 October 2022 | ||||||||||||||
Provisions/Impairment | ||||||||||||||
Net book values | ||||||||||||||
At 31 October 2022 | ||||||||||||||
At 31 October 2021 | ||||||||||||||
7 | Debtors | |||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Amounts owed by group undertakings | ||||||||||||||
Other debtors | ||||||||||||||
8 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
Loans from directors | ||||||||||||||
Other creditors | ||||||||||||||
Accruals and deferred income | ||||||||||||||
9 | Creditors: | |||||||||||||
amounts falling due after more than one year | ||||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Bank loans and overdrafts | ||||||||||||||
Liabilities repayable in more than five years after the balance sheet date | ||||||||||||||
Amount repayable otherwise than by instalments | - | 799,845 | ||||||||||||
10 | Creditors: secured liabilities | |||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
The aggregate amount of secured liabilities included within creditors | - | 799,845 | ||||||||||||
11 | Share Capital | |||||||||||||
Share capital consists of 40,000 ordinary shares of £1 each all fully paid. | ||||||||||||||
12 | Reserves | |||||||||||||
Revaluation Reserve | Total other reserves | |||||||||||||
£ | £ | |||||||||||||
At 1 November 2020 | ||||||||||||||
At 31 October 2021 and 1 November 2021 | ||||||||||||||
Movement on revaluation reserve | ( | ( | ||||||||||||
At 31 October 2022 | ||||||||||||||
13 | Dividends | |||||||||||||
2022 | 2021 | |||||||||||||
£ | £ | |||||||||||||
Dividends for the period: | ||||||||||||||
Dividends paid in the period | - | 20,000 | ||||||||||||
20,000 | ||||||||||||||
Dividends by type: | ||||||||||||||
Equity dividends | ||||||||||||||
- | 20,000 | |||||||||||||
14 | Related party transactions | |||||||||||||
1. With Sheriff Estates Limited | ||||||||||||||
Sheriff Estates Limited is a fellow subsidiary undertaking with the company. | ||||||||||||||
At 31 October 2022 the company was owed £193,027 (2021 £184,477) by Sheriff Estates Limited. | ||||||||||||||
The company has made a management charge of £70,000 (2021 £70,000) to Sheriff Estates Limited. | ||||||||||||||
The balance is unsecured, free of interest and is repayable upon demand. | ||||||||||||||
2. With Trinity Securities (International) Limited | ||||||||||||||
Trinity Securities (International) Limited is the ultimate holding company of the company. | ||||||||||||||
At 31 October 2022 the company was owed £126,542 (2021 £124,902) by Trinity Securities (International) Limited. | ||||||||||||||
A dividend of £nil (2021 £20,000) was paid to Trinity Securities (International) Limited. | ||||||||||||||
The balance is unsecured, free of interest and is repayable upon demand. | ||||||||||||||
3.With Jagz Limited | ||||||||||||||
Jagz Limited is a subsidiary undertaking of the company. | ||||||||||||||
At 31 October 2022 the company was owed £nil (2021 £1,155) by Jagz Limited. | ||||||||||||||
The balance is unsecured, free of interest and is repayable upon demand. | ||||||||||||||
4. With Genesis Consultants Limited | ||||||||||||||
Genesis Consultants Limited is a fellow subsidiary undertaking with the company. | ||||||||||||||
At 31 October 2022 the company was owed £250,903 (2021 £202,907) by Genesis Consultants Limited. | ||||||||||||||
The balance is unsecured, free of interest and repayable upon demand. | ||||||||||||||
5. With Paul Herzberg | ||||||||||||||
Paul Herzberg is the ultimate controlling party of the company and a director of the company. | ||||||||||||||
At 31 October 2022 the company owed £421,883 (2021 £594,783) to Paul Herzberg. | ||||||||||||||
The balance is unsecured free of interest and is repayable upon demand. | ||||||||||||||
15 | Controlling party | |||||||||||||
The parent undertaking and the ultimate parent undertaking of the company is Trinity Securities (International) Limited, a company incorporated in Gibraltar. | ||||||||||||||
The ultimate controlling party is Mr P Herzberg. | ||||||||||||||
The Registered Office for both companies is: | ||||||||||||||
Unit C17 Kestrel Business Centre | ||||||||||||||
Colwick Industrial Estate | ||||||||||||||
Nottingham | ||||||||||||||
NG4 2JR | ||||||||||||||