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Company No: 08087607 (England and Wales)

G.R.M TRIDENT DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial period from 01 November 2022 to 31 March 2024
Pages for filing with the registrar

G.R.M TRIDENT DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial period from 01 November 2022 to 31 March 2024

Contents

G.R.M TRIDENT DEVELOPMENTS LIMITED

COMPANY INFORMATION

For the financial period from 01 November 2022 to 31 March 2024
G.R.M TRIDENT DEVELOPMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 November 2022 to 31 March 2024
DIRECTORS Brett Peter Edward Gregson
Steven David May (Resigned 31 December 2022)
Timothy Mark Read
SECRETARY Brett Peter Edward Gregson
REGISTERED OFFICE 6 Moorlands
West Hill
Exeter
EX11 1UL
United Kingdom
COMPANY NUMBER 08087607 (England and Wales)
ACCOUNTANT Old Mill Accountancy Limited
Leeward House
Fitzroy Road
Exeter Business Park
Exeter
Devon
EX1 3LJ
G.R.M TRIDENT DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 March 2024
G.R.M TRIDENT DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.10.2022
£ £
Fixed assets
Tangible assets 3 2,531 3,919
2,531 3,919
Current assets
Debtors 4 7,120 16,240
Cash at bank and in hand 47,337 293,754
54,457 309,994
Creditors: amounts falling due within one year 5 ( 7,392) ( 25,167)
Net current assets 47,065 284,827
Total assets less current liabilities 49,596 288,746
Provision for liabilities 0 ( 744)
Net assets 49,596 288,002
Capital and reserves
Called-up share capital 99 99
Profit and loss account 49,497 287,903
Total shareholders' funds 49,596 288,002

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of G.R.M Trident Developments Limited (registered number: 08087607) were approved and authorised for issue by the Board of Directors on 21 August 2024. They were signed on its behalf by:

Timothy Mark Read
Director
G.R.M TRIDENT DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2022 to 31 March 2024
G.R.M TRIDENT DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

G.R.M Trident Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6 Moorlands, West Hill, Exeter, EX11 1UL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

Since the financial period end the director has made the decision that the Company will cease trading and the company will sell all remaining assets. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

These financial statements cover an 17 month period as the directors have chosen to extend the financial reporting end. As a result, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
01.11.2022 to
31.03.2024
Year ended
31.10.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 3

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 November 2022 22,036 22,036
At 31 March 2024 22,036 22,036
Accumulated depreciation
At 01 November 2022 18,117 18,117
Charge for the financial period 1,388 1,388
At 31 March 2024 19,505 19,505
Net book value
At 31 March 2024 2,531 2,531
At 31 October 2022 3,919 3,919

4. Debtors

31.03.2024 31.10.2022
£ £
Corporation tax 0 9,118
Other taxation and social security 2,679 2,679
Other debtors 4,441 4,443
7,120 16,240

5. Creditors: amounts falling due within one year

31.03.2024 31.10.2022
£ £
Trade creditors 3,698 1,675
Other taxation and social security 1,874 1,165
Other creditors 1,820 22,327
7,392 25,167

There are no amounts included above in respect of which any security has been given by the small entity.

6. Related party transactions

Transactions with the entity's directors

Advances

During the period a director maintained a Director's Loan Account with the company. Advances of £13,000 (2022: £28,600) and repayments of £13,000 (2022: £27,190) were made on this loan. Interest is charged on the loan, when overdrawn, at the HMRC effective rate of interest, if exceeding a balance of £10,000. At the balance sheet date, the director owed the company £4,442 (2022: £4,442). The loan is repayable on demand.