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Registered Number: 09078236
England and Wales

 

 

 

TRINITY RETAIL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
Directors MR KISSUN PARMAR
MR RAJESH PARMAR
Registered Number 09078236
Registered Office 17 COOKRIDGE LANE
LEEDS
WEST YORKSHIRE
LS16 7LQ
Accountants TRUETAX LTD
467 GREAT HORTON ROAD
BRADFORD
BD7 3DL
1
Accountants report
You consider that the company is exempt from an audit for the year ended 31 July 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
TRUETAX LTD
467 GREAT HORTON ROAD
BRADFORD
BD7 3DL
20 July 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 243,039    245,140 
243,039    245,140 
Current assets      
Stocks 4 86,660    95,780 
Debtors 5 8,166    5,384 
Cash at bank and in hand 5,714    11,252 
100,540    112,416 
Creditors: amount falling due within one year 6 (78,743)   (64,030)
Net current assets 21,797    48,386 
 
Total assets less current liabilities 264,836    293,526 
Creditors: amount falling due after more than one year 7 (190,893)   (249,290)
Net assets 73,943    44,236 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 73,843    44,136 
Shareholders' funds 73,943    44,236 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 July 2024 and were signed on its behalf by:


-------------------------------
MR KISSUN PARMAR
Director
3
General Information
TRINITY RETAIL LTD is a private company, limited by shares, registered in England and Wales, registration number 09078236, registration address 17 COOKRIDGE LANE, LEEDS, WEST YORKSHIRE, LS16 7LQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the profit and loss account.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 7 (2022 : 7).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Improvements to property   Total
  £   £   £
At 01 August 2022 34,416    234,634    269,050 
Additions    
Disposals    
At 31 July 2023 34,416    234,634    269,050 
Depreciation
At 01 August 2022 23,910      23,910 
Charge for year 2,101      2,101 
On disposals    
At 31 July 2023 26,011      26,011 
Net book values
Closing balance as at 31 July 2023 8,405    234,634    243,039 
Opening balance as at 01 August 2022 10,506    234,634    245,140 


4.

Stocks

2023
£
  2022
£
Stocks 86,660    95,780 
86,660    95,780 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Debtors 2,000    2,000 
Corporation Tax 3,048    147 
PAYE & Social Security 3,118    1,164 
VAT Account   2,073 
8,166    5,384 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 16,383    25,267 
Bank Loans & Overdrafts (Secured) 12,133    9,616 
Accrued Expenses 35,154    14,147 
Interest Free Loan 15,000    15,000 
VAT Account 73   
78,743    64,030 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 162,517    205,296 
Directors' Loan Accounts 28,376    43,994 
190,893    249,290 

8.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

4