2023-01-012024-05-312024-05-31false06199499TRFS GROUP 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TRFS GROUP LIMITED

Registered Number
06199499
(England and Wales)

Unaudited Financial Statements for the Period ended
31 May 2024

TRFS GROUP LIMITED
Company Information
for the period from 1 January 2023 to 31 May 2024

Directors

Andrew Dyson
Susan Dyson
Shirley Straw
Steven Straw

Registered Address

21a Newland
Lincoln
LN1 1XP

Registered Number

06199499 (England and Wales)
TRFS GROUP LIMITED
Balance Sheet as at
31 May 2024

Notes

31 May 2024

31 Dec 2022

£

£

£

£

Fixed assets
Tangible assets3-23,103
Investments4-361,874
-384,977
Current assets
Debtors52,846,10149
Cash at bank and on hand22,2215,420
2,868,3225,469
Creditors amounts falling due within one year6(28,242)(165,626)
Net current assets (liabilities)2,840,080(160,157)
Total assets less current liabilities2,840,080224,820
Provisions for liabilities7-(3,398)
Net assets2,840,080221,422
Capital and reserves
Called up share capital2,0002,000
Profit and loss account2,838,080219,422
Shareholders' funds2,840,080221,422
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2024, and are signed on its behalf by:
Andrew Dyson
Director
Registered Company No. 06199499
TRFS GROUP LIMITED
Notes to the Financial Statements
for the period ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The company ceased trading on the 31st May 2024 and these accounts have been prepared to the date of cessation.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings20
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242022
Average number of employees during the year00
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 January 23127,401127,401
Disposals(127,401)(127,401)
Depreciation and impairment
At 01 January 23104,298104,298
Charge for year3,0813,081
On disposals(107,379)(107,379)
Net book value
At 31 May 24--
At 31 December 2223,10323,103
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 January 23361,874361,874
Disposals(361,874)(361,874)
Net book value
At 31 May 24--
At 31 December 22361,874361,874

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2022

££
Trade debtors / trade receivables1,701,000-
Other debtors1,145,10149
Total2,846,10149
6.Creditors: amounts due within one year

2024

2022

££
Trade creditors / trade payables-51,007
Amounts owed to related parties-98,604
Taxation and social security22,24214,525
Accrued liabilities and deferred income6,0001,490
Total28,242165,626
7.Provisions for liabilities

2024

2022

££
Net deferred tax liability (asset)-3,398
Total-3,398
8.Related party transactions
Directors - Steven Straw and Andrew Dyson There was a loan to the directors, on which interest at the HMRC official rate of interest was charged. The loan had not been fully repaid. At the balance sheet date, amounts were owed to the company by the directors as follows: Steven Straw - £572,550 (2022 £nil) Andrew Dyson - £572,550 (2022 £nil)