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Registration number: 03399619

TRBusiness Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

TRBusiness Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

TRBusiness Limited

Company Information

Directors

Mr N Hardy

Mrs J Hook

Mr L Barras-Hill

Mr B Webb

Registered office

16 The Warren
Worcester Park
Surrey
KT4 7DL

Accountants

AGHS Accounting & Taxation Services Limited
Chartered Accountants
14 Progress Business Centre
Whittle Parkway
Slough
Berkshire
SL1 6DQ

 

TRBusiness Limited

(Registration number: 03399619)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

26,242

27,912

Current assets

 

Debtors

6

652,917

550,182

Cash at bank and in hand

 

96,946

226,245

 

749,863

776,427

Creditors: Amounts falling due within one year

7

(249,701)

(320,900)

Net current assets

 

500,162

455,527

Total assets less current liabilities

 

526,404

483,439

Creditors: Amounts falling due after more than one year

7

(78,770)

(167,895)

Net assets

 

447,634

315,544

Capital and reserves

 

Called up share capital

8

50

50

Capital redemption reserve

50

50

Retained earnings

447,534

315,444

Shareholders' funds

 

447,634

315,544

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

.........................................
Mrs J Hook
Director

 

TRBusiness Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 The Warren
Worcester Park
Surrey
KT4 7DL
England

These financial statements were authorised for issue by the Board on 12 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

TRBusiness Limited

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% Reducing Balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Doman Name

10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

TRBusiness Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 10).

 

TRBusiness Limited

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

50,000

50,000

At 31 December 2023

50,000

50,000

Amortisation

At 1 January 2023

50,000

50,000

At 31 December 2023

50,000

50,000

Carrying amount

At 31 December 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

46,645

46,645

Additions

6,790

6,790

At 31 December 2023

53,435

53,435

Depreciation

At 1 January 2023

18,733

18,733

Charge for the year

8,460

8,460

At 31 December 2023

27,193

27,193

Carrying amount

At 31 December 2023

26,242

26,242

At 31 December 2022

27,912

27,912

6

Debtors

 

TRBusiness Limited

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

Current

2023
£

2022
£

Trade debtors

127,806

106,915

Prepayments

37,211

43,875

Other debtors

487,900

399,392

 

652,917

550,182

 

TRBusiness Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

89,125

89,125

Trade creditors

 

1,668

9,457

Taxation and social security

 

93,844

104,854

Accruals and deferred income

 

62,240

106,977

Other creditors

 

2,824

10,487

 

249,701

320,900

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

78,770

167,895

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

50

50

50

50

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

78,770

167,895

Current loans and borrowings

2023
£

2022
£

Other borrowings

89,125

89,125

 

TRBusiness Limited

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

10

Dividends

2023

2022

£

£

Interim dividend of £1,080.00 (2022 - £1,080.00) per ordinary share

54,000

54,000

 

 

11

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

At 31 December 2023
£

Mr N Hardy

Advance

148,602

148,602

Mrs J Hook

Advance

148,602

148,602

2022

At 1 January 2022
£

Advances to director
£

At 31 December 2022
£

Mr N Hardy

Advance

93,322

55,280

148,602

Mrs J Hook

Advance

93,322

55,280

148,602

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

148,742

149,069

Contributions paid to money purchase schemes

45,568

38,642

194,310

187,711