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REGISTERED NUMBER: 04822497 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Troyce Limited

Troyce Limited (Registered number: 04822497)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Troyce Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C S Sleigh
D M Sleigh
Mrs J D Elston
A J Sleigh
Mrs J E Sleigh





SECRETARY: Mrs J D Elston





REGISTERED OFFICE: Unit 45 Martindale
Hawks Green
Cannock
Staffordshire
WS11 7XN





REGISTERED NUMBER: 04822497 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Troyce Limited (Registered number: 04822497)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 55,901 65,766
Investments 5 4,000 4,000
Investment property 6 840,000 825,000
899,901 894,766

CURRENT ASSETS
Debtors 7 85 -
Cash at bank 1,598 1,120
1,683 1,120
CREDITORS
Amounts falling due within one year 8 (355,301 ) (365,560 )
NET CURRENT LIABILITIES (353,618 ) (364,440 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

546,283

530,326

PROVISIONS FOR LIABILITIES 9 (70,323 ) (68,984 )
NET ASSETS 475,960 461,342

CAPITAL AND RESERVES
Called up share capital 10 4,000 4,000
Retained earnings 471,960 457,342
SHAREHOLDERS' FUNDS 475,960 461,342

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Troyce Limited (Registered number: 04822497)

Balance Sheet - continued
31 December 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:





C S Sleigh - Director


Troyce Limited (Registered number: 04822497)

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

1. STATUTORY INFORMATION

Troyce 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.

There are no material departures from the standard.

Turnover
Turnover 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

3. EMPLOYEES AND DIRECTORS

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

Troyce Limited (Registered number: 04822497)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 412,908
DEPRECIATION
At 1 January 2023 347,142
Charge for year 9,865
At 31 December 2023 357,007
NET BOOK VALUE
At 31 December 2023 55,901
At 31 December 2022 65,766

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 4,000
NET BOOK VALUE
At 31 December 2023 4,000
At 31 December 2022 4,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 825,000
Revaluations 15,000
At 31 December 2023 840,000
NET BOOK VALUE
At 31 December 2023 840,000
At 31 December 2022 825,000

Troyce Limited (Registered number: 04822497)

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

6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2006 150,000
Valuation in 2016 50,000
Valuation in 2018 85,000
Valuation in 2022 140,000
Valuation in 2023 15,000
Cost 400,000
840,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 400,000 400,000

Investment property was valued on an open market basis on 11 December 2023 by Andrew Dixon & Company, Chartered Surveyors and this valuation has been included in these financial statements.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 85 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 351,178 309,025
Taxation and social security 2,486 17,419
Other creditors 1,637 39,116
355,301 365,560

The amount owed to group undertakings is in respect of Burntwood Fasteners Limited, a subsidiary company.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 70,323 68,984

Deferred
tax
£   
Balance at 1 January 2023 68,984
Charge to Profit and loss account during year 1,339
Balance at 31 December 2023 70,323

Troyce Limited (Registered number: 04822497)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary A £1 1,000 1,000
1,000 Ordinary B £1 1,000 1,000
1,000 Ordinary C £1 1,000 1,000
1,000 Ordinary D £1 1,000 1,000
4,000 4,000

11. CONTINGENT LIABILITIES

The company is party to a cross guarantee and debenture with Burntwood Fasteners Limited, a subsidiary company in respect of that company's loan from J C A D Retirement Benefit Scheme, which amounted to £3,135 at the balance sheet date.

12. RELATED PARTY TRANSACTIONS

Burntwood Fasteners Limited

The subsidiary company


Rent of plant and machinery received £12,000 (2022 - £48,000)
Rent of property received £7,500 (2022 - £30,000)
Dividends received £229,100 (2022 - £195,000)
Insurance recharges paid £4,007 (2022 - £4,995)

Amount owed to Burntwood Fasteners Limited at 31 December 2023 £351,178 (2022 - £309,025).

The amount owed to Burntwood Fasteners Limited at 31 December 2023 is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Burntwood Fasteners Limited have given their assurances that this amount will not be demanded until such time as Troyce Limited can afford to do so without detriment to its operating and working capital.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Troyce Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Troyce Limited for the year ended 31 December 2023 which comprise the Profit and loss account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Troyce Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Troyce Limited and state those matters that we have agreed to state to the Board of Directors of Troyce Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Troyce Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Troyce Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Troyce Limited. You consider that Troyce Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Troyce Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


23 July 2024