Company Registration No. 00897439 (England and Wales)
TRIMETALS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
TRIMETALS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
TRIMETALS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
116,454
160,205
Current assets
Stocks
813,257
879,473
Debtors
4
315,645
257,595
Cash at bank and in hand
1,185,893
1,733,321
2,314,795
2,870,389
Creditors: amounts falling due within one year
5
(351,842)
(815,866)
Net current assets
1,962,953
2,054,523
Total assets less current liabilities
2,079,407
2,214,728
Provisions for liabilities
-
0
(9,330)
Net assets
2,079,407
2,205,398
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
2,079,107
2,205,098
Total equity
2,079,407
2,205,398

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 28 March 2024 and are signed on its behalf by:
Mr G V Smith
Director
Company registration number 00897439 (England and Wales)
TRIMETALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Trimetals Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 12, Sunrise Business Park, Blandford Forum, Dorset, DT11 8ST.

1.1
Accounting convention

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10 years
Plant and equipment
5 to 15 years
Fixtures and fittings
5 years
Motor vehicles
5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

TRIMETALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
24
27
TRIMETALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2023
287,132
748,836
232,319
100,927
1,369,214
Additions
-
0
-
0
16,219
-
0
16,219
Disposals
-
0
-
0
(66,943)
-
0
(66,943)
At 31 January 2024
287,132
748,836
181,595
100,927
1,318,490
Depreciation and impairment
At 1 February 2023
258,562
668,657
188,863
92,927
1,209,009
Depreciation charged in the year
28,570
8,949
21,046
-
0
58,565
Eliminated in respect of disposals
-
0
-
0
(65,538)
-
0
(65,538)
At 31 January 2024
287,132
677,606
144,371
92,927
1,202,036
Carrying amount
At 31 January 2024
-
0
71,230
37,224
8,000
116,454
At 31 January 2023
28,570
80,179
43,456
8,000
160,205
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
223,404
225,182
Other debtors
92,241
32,413
315,645
257,595
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
125,019
154,064
Taxation and social security
12,534
47,194
Other creditors
214,289
614,608
351,842
815,866
TRIMETALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
6
Related party transactions

The company occupies premises owned by a director. No rent is payable for the occupation of the premises.

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