IRIS Accounts Production v23.3.0.418 08905483 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false Ordinary share capital 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089054832022-02-28089054832023-02-28089054832022-03-012023-02-28089054832021-02-28089054832021-03-012022-02-28089054832022-02-2808905483ns10:Originalns15:EnglandWales2022-03-012023-02-2808905483ns14:PoundSterlingns10:Original2022-03-012023-02-2808905483ns10:Originalns10:Director12022-03-012023-02-2808905483ns10:Original2022-03-012023-02-2808905483ns10:Original2023-02-2808905483ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2808905483ns10:Originalns10:SmallEntities2022-03-012023-02-2808905483ns10:Originalns10:AuditExemptWithAccountantsReport2022-03-012023-02-2808905483ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2808905483ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2808905483ns10:Originalns10:FullAccounts2022-03-012023-02-2808905483ns10:Originalns10:OrdinaryShareClass12022-03-012023-02-2808905483ns10:Originalns10:Director22022-03-012023-02-2808905483ns10:Originalns10:RegisteredOffice2022-03-012023-02-2808905483ns10:Original2022-02-2808905483ns10:Originalns5:CurrentFinancialInstruments2023-02-2808905483ns10:Originalns5:CurrentFinancialInstruments2022-02-2808905483ns5:ShareCapitalns10:Original2023-02-2808905483ns5:ShareCapitalns10:Original2022-02-2808905483ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2808905483ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2808905483ns10:Original2021-03-012022-02-2808905483ns10:Originalns5:PlantMachinery2022-03-012023-02-2808905483ns10:Originalns5:PlantMachinery2023-02-2808905483ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2808905483ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2808905483ns10:Originalns10:OrdinaryShareClass12023-02-28
REGISTERED NUMBER: 08905483 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

TRIGON SELECT LTD

TRIGON SELECT LTD (REGISTERED NUMBER: 08905483)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

TRIGON SELECT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: C D Martelli
G G A Willis





REGISTERED OFFICE: 27 Old Gloucester Street
London
WC1N 3AX





REGISTERED NUMBER: 08905483 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

TRIGON SELECT LTD (REGISTERED NUMBER: 08905483)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 781 -

CURRENT ASSETS
Debtors 5 934 1,102
Cash at bank 39 8,486
973 9,588
CREDITORS
Amounts falling due within one year 6 181,800 158,856
NET CURRENT LIABILITIES (180,827 ) (149,268 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(180,046

)

(149,268

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (180,146 ) (149,368 )
SHAREHOLDERS' FUNDS (180,046 ) (149,268 )

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

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

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 28 November 2023 and were signed on its behalf by:





C D Martelli - Director


TRIGON SELECT LTD (REGISTERED NUMBER: 08905483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Trigon Select Ltd 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 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.

The income statement and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

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

Foreign currencies
Transactions in currencies other than pounds sterling are recorded at the average 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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TRIGON SELECT LTD (REGISTERED NUMBER: 08905483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

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 recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,041
At 28 February 2023 1,041
DEPRECIATION
Charge for year 260
At 28 February 2023 260
NET BOOK VALUE
At 28 February 2023 781

TRIGON SELECT LTD (REGISTERED NUMBER: 08905483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 934 1,102

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts - 2,840
Trade creditors 600 1,680
Other creditors 181,200 154,336
181,800 158,856

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary share capital 1 100 100

8. RELATED PARTY DISCLOSURES

At the year end the company had a payable balance of £9,380 (2022: £9,453) to Martelli Fashion Ltd, Zürich, a Swiss company fully controlled by the director, C Martelli. The maximum outstanding balance during the year was £9,380 representing funding received with no interest charged.

The company also owed Martelli Lab Limited £67,248 (2022: £59,616) a company fully controlled by the director. The maximum outstanding balance during the year was £67,248, representing funding received with no interest charged.

The company also owed the director C Martelli and his wife S Freddo £77,465 (2022: £59,616) and £7,248 (2022: £6,902) respectively at the balance sheet date. The maximum outstanding balances during the year were £77,465 and £7,248 respectively representing funding received with no interest charged.

9. ULTIMATE CONTROLLING PARTY

The controlling party is C D Martelli.

The company is controlled by C Martelli, the director of the company through his holding of 100% of the share capital of the company.

10. GOING CONCERN

Though liabilities exceed assets at the balance sheet date, the financial statements have been prepared on a going concern basis due to the support given by the director to provide the necessary funding to enable the company to meet its obligations. In the event of this support being stopped, the company will be unable to meet its obligations and to trade as a going concern, and adjustments and reclassifications would be needed to be made to all balance sheet items to reflect their realisable value.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TRIGON SELECT LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trigon Select Ltd for the year ended 28 February 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Trigon Select Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Trigon Select Ltd and state those matters that we have agreed to state to the Board of Directors of Trigon Select Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trigon Select Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Trigon Select Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Trigon Select Ltd. You consider that Trigon Select Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Trigon Select Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY


Date: .............................................