29 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,361,368 541,058 1,902,426 679,079 316,189 995,268 907,158 682,289 41,034 3,083 44,117 13,888 10,808 24,696 19,421 27,146 xbrli:pure xbrli:shares iso4217:GBP 09834115 2022-11-01 2023-10-31 09834115 2023-10-31 09834115 2022-10-31 09834115 2021-11-01 2022-10-31 09834115 2022-10-31 09834115 2021-10-31 09834115 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-01 2023-10-31 09834115 bus:Director2 2022-11-01 2023-10-31 09834115 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 09834115 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-31 09834115 core:ShareCapital 2021-11-01 2022-10-31 09834115 core:SharePremium 2021-11-01 2022-10-31 09834115 core:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 09834115 core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 09834115 core:WithinOneYear 2023-10-31 09834115 core:WithinOneYear 2022-10-31 09834115 core:ShareCapital 2023-10-31 09834115 core:ShareCapital 2022-10-31 09834115 core:SharePremium 2023-10-31 09834115 core:SharePremium 2022-10-31 09834115 core:RetainedEarningsAccumulatedLosses 2023-10-31 09834115 core:RetainedEarningsAccumulatedLosses 2022-10-31 09834115 core:ShareCapital 2021-10-31 09834115 core:SharePremium 2021-10-31 09834115 core:RetainedEarningsAccumulatedLosses 2021-10-31 09834115 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 09834115 bus:SmallEntities 2022-11-01 2023-10-31 09834115 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 09834115 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09834115 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09834115 bus:FullAccounts 2022-11-01 2023-10-31 09834115 core:OfficeEquipment 2022-11-01 2023-10-31 09834115 core:OfficeEquipment 2022-10-31 09834115 core:OfficeEquipment 2023-10-31 09834115 bus:Director2 1 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 09834115
Tribo Technologies Ltd
Filleted Unaudited Financial Statements
31 October 2023
Tribo Technologies Ltd
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Statement of changes in equity
3
Notes to the financial statements
4
Tribo Technologies Ltd
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
907,158
682,289
Tangible assets
6
19,421
27,146
---------
---------
926,579
709,435
Current assets
Debtors
7
226,191
370,649
Cash at bank and in hand
1,981,105
2,297,417
------------
------------
2,207,296
2,668,066
Creditors: amounts falling due within one year
8
360,531
212,132
------------
------------
Net current assets
1,846,765
2,455,934
------------
------------
Total assets less current liabilities
2,773,344
3,165,369
------------
------------
Net assets
2,773,344
3,165,369
------------
------------
Capital and reserves
Called up share capital
308
308
Share premium account
5,894,648
5,894,648
Profit and loss account
( 3,121,612)
( 2,729,587)
------------
------------
Shareholders funds
2,773,344
3,165,369
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tribo Technologies Ltd
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
M A Last
Director
Company registration number: 09834115
Tribo Technologies Ltd
Statement of Changes in Equity
Year ended 31 October 2023
Called up share capital
Share premium account
Profit and loss account
Total
£
£
£
£
At 1 November 2021
281
4,250,322
( 1,970,512)
2,280,091
Loss for the year
( 759,075)
( 759,075)
----
------------
------------
------------
Total comprehensive income for the year
( 759,075)
( 759,075)
Issue of shares
27
1,644,326
1,644,353
----
------------
------------
------------
Total investments by and distributions to owners
27
1,644,326
1,644,353
At 31 October 2022
308
5,894,648
( 2,729,587)
3,165,369
Loss for the year
( 392,025)
( 392,025)
----
------------
------------
------------
Total comprehensive income for the year
( 392,025)
( 392,025)
----
------------
------------
------------
At 31 October 2023
308
5,894,648
( 3,121,612)
2,773,344
----
------------
------------
------------
Tribo Technologies Ltd
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Huckletree West, 191 Wood Lane, London, W12 7FP, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 29 (2022: 27 ).
5. Intangible assets
Development costs
£
Cost
At 1 November 2022
1,361,368
Additions
541,058
------------
At 31 October 2023
1,902,426
------------
Amortisation
At 1 November 2022
679,079
Charge for the year
316,189
------------
At 31 October 2023
995,268
------------
Carrying amount
At 31 October 2023
907,158
------------
At 31 October 2022
682,289
------------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 November 2022
41,034
41,034
Additions
3,083
3,083
--------
--------
At 31 October 2023
44,117
44,117
--------
--------
Depreciation
At 1 November 2022
13,888
13,888
Charge for the year
10,808
10,808
--------
--------
At 31 October 2023
24,696
24,696
--------
--------
Carrying amount
At 31 October 2023
19,421
19,421
--------
--------
At 31 October 2022
27,146
27,146
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
17,971
56,055
Other debtors
208,220
314,594
---------
---------
226,191
370,649
---------
---------
Included in other debtors is £133,420 (2022: £142,712) relating to the company's R&D tax credit.
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
69,257
60,641
Social security and other taxes
125,709
37,398
Pension creditor
4,320
4,889
Other creditors
161,245
109,204
---------
---------
360,531
212,132
---------
---------
9. Directors' advances, credits and guarantees
During the year, a director was advanced £2,208 (2022:£nil) by the company. No interest was charged on this loan and it was repaid in full in July 2024.