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REGISTERED NUMBER: 11424078 (England and Wales)















Trident (Falmouth) Limited

Unaudited Financial Statements

for the Year Ended 31 August 2023






Trident (Falmouth) Limited (Registered number: 11424078)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Trident (Falmouth) Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr S Norris
Mr R J Bull
Mr A D Kent
Mr L P J Sleeman





REGISTERED OFFICE: Unit B2
Church View Business Park
Bickland Water Road
Falmouth
TR11 4FZ





REGISTERED NUMBER: 11424078 (England and Wales)





ACCOUNTANTS: BK Plus Limited
Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
TR13 0SR

Trident (Falmouth) Limited (Registered number: 11424078)

Balance Sheet
31 August 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 154,901 154,901
Investments 5 300 300
Investment property 6 320,000 320,000
475,201 475,201

CURRENT ASSETS
Debtors 7 152,462 115,995
Cash at bank 2,532 7,164
154,994 123,159
CREDITORS
Amounts falling due within one year 8 451,896 404,937
NET CURRENT LIABILITIES (296,902 ) (281,778 )
TOTAL ASSETS LESS CURRENT LIABILITIES 178,299 193,423

CREDITORS
Amounts falling due after more than one
year

9

(124,865

)

(129,976

)

PROVISIONS FOR LIABILITIES (10,102 ) (10,102 )
NET ASSETS 43,332 53,345

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 11 43,064 53,166
Retained earnings 11 168 79
43,332 53,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Trident (Falmouth) Limited (Registered number: 11424078)

Balance Sheet - continued
31 August 2023


The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:




Mr R J Bull - Director Mr A D Kent - Director




Mr S Norris - Director Mr L P J Sleeman - Director


Trident (Falmouth) Limited (Registered number: 11424078)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Trident (Falmouth) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Trident (Falmouth) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover consists of rental income generated from the investment property held, as per the terms of the lease. It is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets consist of land purchased in 2021 and is not depreciated.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is shown at the most recent valuation. Any gains or losses arising from changes in fair value are recognised in profit or loss, and are then transferred from the retained earnings reserve to be held separately in a non-distributable reserve.

Financial instruments
The company only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred 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 or deferred 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.

Trident (Falmouth) Limited (Registered number: 11424078)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 September 2022
and 31 August 2023 154,901
NET BOOK VALUE
At 31 August 2023 154,901
At 31 August 2022 154,901

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 September 2022
and 31 August 2023 300
NET BOOK VALUE
At 31 August 2023 300
At 31 August 2022 300

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 September 2022
and 31 August 2023 320,000
NET BOOK VALUE
At 31 August 2023 320,000
At 31 August 2022 320,000

Investment property has been measured at fair value by the directors, taking into account the market value at the purchase date (April 2019) and considering any subsequent changes.

Trident (Falmouth) Limited (Registered number: 11424078)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 August 2023 is represented by:
£
Valuation in 2020 13,166
Valuation in 2022 40,000
Cost 266,834
320,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 240 1,200
Other debtors 152,222 114,795
152,462 115,995

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 13,165 13,165
Trade creditors 994 3,869
Amounts owed to group undertakings 394,174 348,947
Taxation and social security 15,523 9,116
Other creditors 28,040 29,840
451,896 404,937

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 124,865 129,976

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 85,370 90,481

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 138,030 143,141

Investment property with a carrying value of £320,000 is pledged as security for the company's bank loan.

Trident (Falmouth) Limited (Registered number: 11424078)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

11. RESERVES
Non
Retained distributable
earnings reserve Totals
£ £ £

At 1 September 2022 79 53,166 53,245
Profit for the year 133,987 133,987
Dividends (144,000 ) (144,000 )
Transfer 10,102 (10,102 ) -
At 31 August 2023 168 43,064 43,232

The non-distributable reserves relate to unrealised gains on investment property. The transfer between retained earnings and the non-distributable reserve relates to the deferred tax on previous revaluation gains.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£ £
Mr R J Bull
Balance outstanding at start of year 29,247 -
Amounts advanced 46,499 39,247
Amounts repaid (36,000 ) (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 39,746 29,247

Mr A D Kent
Balance outstanding at start of year 23,703 (3,848 )
Amounts advanced 45,242 37,551
Amounts repaid (36,000 ) (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,945 23,703

Mr S Norris
Balance outstanding at start of year 26,338 -
Amounts advanced 44,355 36,338
Amounts repaid (36,000 ) (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,693 26,338

Trident (Falmouth) Limited (Registered number: 11424078)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr L P J Sleeman
Balance outstanding at start of year 35,507 -
Amounts advanced 45,331 45,507
Amounts repaid (36,000 ) (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,838 35,507

The above amounts are owing to the company at the balance sheet date. There is no interest charged and the loans are repayable on demand.

13. RELATED PARTY DISCLOSURES

The balance outstanding at the balance sheet date from subsidiary Trident Plumbing, Heating and Electrical
Limited was £206,049 (2022: £224,416) and is included within creditors.

The balance outstanding at the balance sheet date from subsidiary PAT Test Plus Limited was £188,125 (2022:
£124,531) and is included within creditors.