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REGISTERED NUMBER: 09425017 (England and Wales)












Tripp Removals & Storage Limited

Unaudited Financial Statements

for the Year Ended 28th February 2023






Tripp Removals & Storage Limited (Registered number: 09425017)






Contents of the Financial Statements
for the Year Ended 28th February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Tripp Removals & Storage Limited

Company Information
for the Year Ended 28th February 2023







DIRECTORS: J M G Tripp
S C Tripp
Mrs A M Cowie





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 09425017 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Tripp Removals & Storage Limited (Registered number: 09425017)

Statement of Financial Position
28th February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 447,184 476,184

CURRENT ASSETS
Stocks 5 11,176 11,950
Debtors 6 56,984 69,496
Cash at bank and in hand 146,645 120,717
214,805 202,163
CREDITORS
Amounts falling due within one year 7 (193,818 ) (213,094 )
NET CURRENT ASSETS/(LIABILITIES) 20,987 (10,931 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,171

465,253

CREDITORS
Amounts falling due after more than one
year

8

(237,898

)

(270,871

)

PROVISIONS FOR LIABILITIES (9,421 ) (10,641 )
NET ASSETS 220,852 183,741

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 220,851 183,740
SHAREHOLDERS' FUNDS 220,852 183,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 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.

Tripp Removals & Storage Limited (Registered number: 09425017)

Statement of Financial Position - continued
28th February 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 Board of Directors and authorised for issue on 23rd November 2023 and were signed on its behalf by:




Mrs A M Cowie - Director



S C Tripp - Director


Tripp Removals & Storage Limited (Registered number: 09425017)

Notes to the Financial Statements
for the Year Ended 28th February 2023

1. STATUTORY INFORMATION

Tripp Removals & Storage 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided for on Land and Straight line over 30 years
Improvements to property - 10% on cost
Equipment & Fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 9 (2022 - 8 ) .

Tripp Removals & Storage Limited (Registered number: 09425017)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Equipment
property property & Fittings
£    £    £   
COST
At 1st March 2022 485,500 4,606 30,125
Disposals (1,400 ) - -
At 28th February 2023 484,100 4,606 30,125
DEPRECIATION
At 1st March 2022 68,436 1,794 12,211
Charge for year 12,850 461 4,479
Eliminated on disposal (260 ) - -
At 28th February 2023 81,026 2,255 16,690
NET BOOK VALUE
At 28th February 2023 403,074 2,351 13,435
At 28th February 2022 417,064 2,812 17,914

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st March 2022 91,651 10,754 622,636
Disposals - (1,700 ) (3,100 )
At 28th February 2023 91,651 9,054 619,536
DEPRECIATION
At 1st March 2022 55,522 8,489 146,452
Charge for year 9,032 747 27,569
Eliminated on disposal - (1,409 ) (1,669 )
At 28th February 2023 64,554 7,827 172,352
NET BOOK VALUE
At 28th February 2023 27,097 1,227 447,184
At 28th February 2022 36,129 2,265 476,184

5. STOCKS
2023 2022
£    £   
Stocks 11,176 11,950

Tripp Removals & Storage Limited (Registered number: 09425017)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,203 47,143
Other debtors 21,781 22,353
56,984 69,496

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,237 39,505
Trade creditors 17,865 13,925
Taxation and social security 29,086 32,236
Other creditors 111,630 127,428
193,818 213,094

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 237,898 270,871

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 118,956 136,678

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 273,135 310,376

Barclays bank has a fixed and floating charge over all the property and undertakings of the company.