REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
for |
Triangle Interiors Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
for |
Triangle Interiors Limited |
Triangle Interiors Limited (Registered number: 04571896) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Triangle Interiors Limited |
Company Information |
for the Year Ended 31 October 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
7 Merlin Courtyard |
Gatehouse Close |
Aylesbury |
Buckinghamshire |
HP19 8DP |
Triangle Interiors Limited (Registered number: 04571896) |
Balance Sheet |
31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Triangle Interiors Limited (Registered number: 04571896) |
Balance Sheet - continued |
31 October 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Triangle Interiors Limited (Registered number: 04571896) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Triangle Interiors Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents sales of goods and services during the year, excluding value added tax. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in November 2006, was amortised evenly over its estimated useful life of 4 years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Government grants |
Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure. |
This includes the Government Coronavirus Job Retention Scheme ('Furlough'). The company also benefits from other forms of COVID19 business support assistance. |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Pension costs and other post-retirement benefits |
The company contributes defined contributions to a money purchase pension scheme for the benefit of the director. A defined contribution scheme is a pension plan under which the company pays contributions to an independent pension provider and has no further payment obligations. Contributions payable by the company are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Triangle Interiors Limited (Registered number: 04571896) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
AMORTISATION |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
Triangle Interiors Limited (Registered number: 04571896) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.10.23 | 31.10.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank Bounce Back loan |
Amounts falling due between one and two years: |
Bank BB loans - 1-2 years |
Amounts falling due between two and five years: |
Bank BB loans - 2-5 years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans |
The company borrowed £20,000 under the Bounce Back Loan Scheme in July 2020 and a further £20,000 in December 2020. |
HM Government covered any interest payable in the first 12 months through a Business Interruption Payment to the lender, and lenders benefit from a 100% government-backed guarantee. |
The government has set the interest rate for this loan at 2.5% per annum and the repayment term is fixed at six years. No repayments were due during the first 12 months. The company remains 100% liable to repay the full loan amount, as well as interest, after the first year. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
value: | £ | £ |
Ordinary | £1 | 10 | 10 |
Triangle Interiors Limited (Registered number: 04571896) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 November 2022 |
Profit for the year |
Dividends | ( |
) |
At 31 October 2023 |
13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Creditors includes £3,845 due to the director (2022 - £4,369). The loan, which was in credit throughout the year, is repayable on demand. No interest was charged for the year (2022 - none). |
14. | ULTIMATE CONTROLLING PARTY |
The Company was controlled during the current and previous period by P A C Smith by virtue of the fact that he owned 100% of the ordinary share capital of the Company. |