Tristone UK Limited
Registered number: 04152191
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 91,645 107,104
Current assets
Stocks 538,982 515,730
Debtors 4 119,177 113,284
Cash at bank and in hand 30,633 45,364
688,792 674,378
Creditors: amounts falling due within one year 5 (374,577) (381,290)
Net current assets 314,215 293,088
Total assets less current liabilities 405,860 400,192
Creditors: amounts falling due after more than one year 6 (131,693) (127,402)
Provisions for liabilities (8,420) (9,481)
Net assets 265,747 263,309
Capital and reserves
Called up share capital 250,000 250,000
Revaluation reserve 7 4,566 4,725
Profit and loss account 11,181 8,584
Shareholders' funds 265,747 263,309
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Howard G. Noh
Director
Approved by the board on 2 August 2024
Tristone UK Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Motor Vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and Machinery Fixtures, Fittings & equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 49,769 39,070 140,685 229,524
Additions 1,397 2,771 17,385 21,553
Disposals - - (33,720) (33,720)
At 31 March 2024 51,166 41,841 124,350 217,357
Depreciation
At 1 April 2023 37,435 26,193 58,792 122,420
Charge for the year 1,224 3,655 23,131 28,010
Surplus on revaluation 159 - - 159
On disposals - - (24,877) (24,877)
At 31 March 2024 38,818 29,848 57,046 125,712
Net book value
At 31 March 2024 12,348 11,993 67,304 91,645
At 31 March 2023 12,334 12,877 81,893 107,104
4 Debtors 2024 2023
£ £
Trade debtors 113,944 104,904
Prepaid and Accrued Income 5,233 8,380
119,177 113,284
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other Loans 52,149 54,500
Accruals and Deferred Income 12,850 12,850
Invoice Factoring 97,213 77,366
Trade creditors 146,840 196,866
Corporation tax 1,207 5,479
Other taxes and social security costs 64,318 34,229
374,577 381,290
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors' Loan 7,807 11,913
Other Loans 123,886 115,489
131,693 127,402
7 Revaluation reserve 2024 2023
£ £
At 1 April 2023 4,725 4,923
Loss on revaluation (159) (198)
At 31 March 2024 4,566 4,725
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
H G Noh
Directors Loan (11,913) 49,890 (45,784) (7,807)
(11,913) 49,890 (45,784) (7,807)
9 Related party transactions
Haverton Hill Properties is a company controlled by Mr. H Noh.
A balance of £1388 included with debtors as a balance owing from HHP
10 Controlling party
The company was under the control of Mr. H Noh throughout the current year and previous year. Mr Noh is the Managing Director and only shareholder
11 Other information
Tristone UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3,
Primrose Hill Business Park
Stockton on Tees
Tees Valley
TS19 0GA
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