Company registration number 11558716 (England and Wales)
Triton Risk Management Ltd
financial statements
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Triton Risk Management Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Triton Risk Management Ltd
Statement of financial position
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
100,648
66,967
Investments
4
3
100,651
66,967
Current assets
Debtors
6
1,256,046
1,446,133
Cash at bank and in hand
646,288
57,426
1,902,334
1,503,559
Creditors: amounts falling due within one year
7
(625,796)
(697,197)
Net current assets
1,276,538
806,362
Total assets less current liabilities
1,377,189
873,329
Creditors: amounts falling due after more than one year
8
(19,902)
Provisions for liabilities
9
(25,162)
(16,742)
Net assets
1,332,125
856,587
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
1,331,125
855,587
Total equity
1,332,125
856,587
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
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:
R Davis
Director
Company registration number 11558716 (England and Wales)
Triton Risk Management Ltd
Notes to the Financial Statements
for the year ended 31 December 2023
- 2 -
1
Accounting policies
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. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions available to it.
The financial statements of the company are consolidated in the financial statements of TTGOC Ltd. These consolidated financial statements are available from its registered office, Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, West Yorkshire, LS22 7BA.
Going concern
Atruet 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.
Turnover
Turnover represents the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT.
Turnover is recognised on supply of services to the customer.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% straight line basis
Computers
33.3% straight line basis
Motor vehicles
25% reducing balance
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Triton Risk Management Ltd
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
1
Accounting policies
(continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. 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 then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
106
126
Triton Risk Management Ltd
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
- 4 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
98,000
2,638
100,638
Additions
41,237
41,237
At 31 December 2023
98,000
2,638
41,237
141,875
Depreciation and impairment
At 1 January 2023
31,033
2,638
33,671
Depreciation charged in the year
6,697
859
7,556
At 31 December 2023
37,730
2,638
859
41,227
Carrying amount
At 31 December 2023
60,270
40,378
100,648
At 31 December 2022
66,967
66,967
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
3
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023
-
Additions
3
At 31 December 2023
3
Carrying amount
At 31 December 2023
3
At 31 December 2022
-
5
Subsidiaries
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Nature of business
Class of
% Held
shares held
Direct
Graspan Frankton Ltd
Security & Serveillance
Ordinary
51.00
Triton Risk Management Ltd
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
5
Subsidiaries
(continued)
- 5 -
Registered office addresses (all UK unless otherwise indicated):
De La Rue (Gateshead), Kingsway South, Team Valley Trading Estate, Gateshead, England, NE11 0SQ
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
227,742
706,026
Amounts owed by group undertakings
22,992
Other debtors
335,126
697,584
Prepayments and accrued income
670,186
42,523
1,256,046
1,446,133
7
Creditors: amounts falling due within one year
2023
2022
£
£
Obligations under hire purchase agreements
20,618
Trade creditors
96,192
131,132
Corporation tax
87,756
66,725
Other taxation and social security
337,223
404,284
Accruals and deferred income
84,007
95,056
625,796
697,197
Obligations under hire purchase contracts are secured on the assets to which they relate.
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Obligations under hire purchase contracts
19,902
Obligations under hire purchase contracts are secured on the assets to which they relate.
9
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
25,162
16,742
Triton Risk Management Ltd
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
- 6 -
10
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Charles R Moorby
Statutory Auditor:
B M Howarth Ltd
Date of audit report:
28 March 2024
11
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
92,237
180,734
12
Related party transactions
In accordance with the exemptions available to the company, related party disclosures in respect of group transactions are not disclosed on the basis that the details of the subsidiary are included in the group financial statements of the parent company.
During the year the company sold goods and services to Triton Projects Limited amounting to £1,011 (2022 : £nil).
During the year the company paid for goods and services from TritonTrak Limited amounting to £1,139 (2022 : £1,139).
13
Parent company
The parent company of Triton Risk Management Ltd is Triton Group Holdings Ltd and its registered office is Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, West Yorkshire, LS22 7BA.
The ultimate parent company of Triton Risk Management Ltd is TTGOC Ltd and its registered office is Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, West Yorkshire, LS22 7BA.
14
Company information
Triton Risk Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Templar House, 1 Sandbeck Court, Sandbeck Way, Wetherby, West Yorkshire, LS22 7BA.