Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
COMPANY INFORMATION
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TRIUM HOLDINGS LIMITED
CONTENTS
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TRIUM HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The directors present the group strategic report accompanying the financial statements for the period ended 31
December 2023.
The group's revenue arises in its trading subsidiaries, which are Trium Capital LLP (“TCL”), Trium Ireland Ltd (“TIL”) and TCM Wealth Ltd (“TCM”).
TCL and TIL are investment managers, managing, on behalf of its funds’ investors, a suite of generally liquid alternative and long only investment strategies. Portfolios are managed by teams of portfolio managers and are made available to a global investor base in various fund and managed account formats. TCM derives income from trading its balance sheet capital in securities (mainly equities) with trading decisions made by subcontracted traders, who receive a share of the profits they generate. Its principal activity is dealing in UK equities and associated derivatives. The group loss for the year to 31 December 2023 was £11.9m compared to £10.6m in the prior year. Group turnover increased from £10.9m in 2022 to £15.0m in 2023, as a result of increased fee income in both TCL and TIL. The majority of the loss arose in TCL, where costs remained high (in relation to revenue) in order to retain talent and maintain strong revenue growth in the years ahead. The loss arising in TCL remained at a similar level to 2022 but is expected to decrease in 2024 as its revenue continues to increase and this business should become profitable in 2025.
The revenue of TCL and TIL are made up of fees, which are dependent on the value of the assets under management and the funds’ performance. The possibility of poor investment performance leading to a decline in assets under management and lower than expected performance fees, together with key employee retention, are the main risks to TCL and TIL. TCL and TIL are investment managers to a range of funds (and managed accounts) each of which employs a discrete investment strategy managed by a range of portfolio managers, thereby diversifying the risk of loss of income through redemptions or portfolio manager departure.
The trading activities of TCM expose it to market, credit, foreign exchange and liquidity risk. These risks are managed in accordance with established risk management policies and procedures. It seeks to manage these risks by requiring traders to post margin against losses incurred by them, by limiting the size of the exposures they can take and by diversifying exposures, controlling position ratios, position sizes and establishing hedges in related securities or derivatives. Credit risk Credit risk represents the loss that the group would incur if a counterparty or an issuer of securities or other instruments for which the group has an unsettled trade fails to perform under their contractual obligations. The group’s exposure to credit risk principally arises through TCM’s trading activities. TCM employs a certain number of strategies to mitigate its exposure to credit risk to an acceptable level, including matching trades with counterparties, chasing up trades that remain unsettled after the contracted period (usually between one and three days) and settling on a ‘delivery versus payment’ basis.
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TRIUM HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Market risk
The potential for changes in the market value of TCM’s portfolio positions represent the market risk to it. Its current asset investments are held at fair value and marked to market on a daily basis and changes are recognised in the profit and loss account. TCM utilises a number of techniques to limit these risks. By allocating each trader stop-loss limits, pre-determined trade parameters and maximum adverse daily trade movements, TCM can monitor and scrutinise trading activities on both the consolidated portfolio and on individual team portfolios. Foreign exchange risk Foreign exchange risk arises from the group’s holding of securities that are denominated in a currency other than sterling and from the fact that some fee income and expenses is received and paid in currencies other than sterling. This risk is mitigated by the group managing its net currency exposure by buying and selling currencies and thus not being overly exposed in one particular currency. The group employs various hedging techniques to reduce exposure to foreign exchange risk to an acceptably low level. Financial key performance indicators Consolidated net profit or loss. This was a loss of £11.9m in 2023, compared with £10.6m in 2022. Run rate management fee – annualised run rate net management fee receivable as at the end of the year. This was £6.3m at the end of 2023, compared with £3.6m at the end of 2022. Net management fee yield – the average net annual management fee receivable as at the end of the year as a percentage of assets under management. This was 0.52% at the end of 2023, compared with 0.46% at the end of 2022. Amount of assets under management and the growth during the year. AUM was $1,580m at the end of 2023 compared with $1,140m at the end of 2022. The growth in AUM was $440m in 2023 compared with $550m in 2022.
The group also monitors a number of non-financial key performance indicators which are relevant to its longterm performance, having regard to its environmental and social responsibilities.
This report was approved by the board on 6 September 2024 and signed on its behalf.
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TRIUM HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The directors present their report and the financial statements for the year ended 31 December 2023.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation and minority interests, amounted to £10,754,106 (2022 - loss £9,232,494).
No dividends were paid in the current year or the prior year, and no final dividends to be declared given the deficit on profit and loss reserves
The directors who served during the year were:
The focus for the next financial year is to work on getting TCM back into profitability and manage any stock market uncertainty, and to continue revenue growth in TCL so that it continues on the current business plan to acheive profitability by 2025.
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TRIUM HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
There have been no significant events affecting the group since the year end.
The auditors, Barnes Roffe LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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TRIUM HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRIUM HOLDINGS LIMITED
We have audited the financial statements of Trium Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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TRIUM HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRIUM HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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TRIUM HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRIUM HOLDINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: • The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; • We identified the laws and regulations applicable to the group through discussion with directors and other management, and from our commercial knowledge and experience of the financial services sector which the group operates in; • The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, are as follows; o Companies Act 2006 o FRS102 o FCA guidance and regulation o Employment legislation o Tax legislation • We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting relevant correspondence; • Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: • Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; • Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; • Reviewing the financial statements and testing the disclosures against supporting documentation; • Performing analytical procedures to identify any unusual or unexpected trends or anomalies; • Inspecting and testing journal entries to identify unusual or unexpected transactions; • Assessing whether judgement and assumptions made in determining significant accounting estimates, including the fair value of financial instruments, were indicative of management bias; and • Investigating the rationale behind significant transactions, or transactions that are unusual or outside the group’s usual course of business. The areas that we identified as being susceptible to misstatement through fraud were: • Management bias in the estimates and judgements made; • Management override of controls; and • Posting of unusual journals or transactions. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
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TRIUM HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRIUM HOLDINGS LIMITED (CONTINUED)
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion,omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditors
Charles Lake House
Claire Causeway
Crossways Business Park
Kent
DA2 6QA
Date:
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TRIUM HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
REGISTERED NUMBER: 08603066
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
REGISTERED NUMBER: 08603066
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 September 2024.
The notes on pages 18 to 35 form part of these financial statements.
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TRIUM HOLDINGS LIMITED
REGISTERED NUMBER: 08603066
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 35 form part of these financial statements.
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TRIUM HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
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TRIUM HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
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TRIUM HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trium Holdings Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 4th Floor, 60 Gresham Street, London, EC2V 7BB.
The principal activity of the company is that of a holding company, and the group's principal activity is the provider of financial services, including investment fund management and trading in securities (UK equities and associated derivatives).
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies (see note 3).
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The group has net liabilities of £29,213,878 (2022: £18,360,917) and the company has net liabilities of £29,826,388 (2022: £20,797,360) and is therefore dependent on the support of certain key investors (owners) in respect of other loans provided to the group of £39,501,953 (2022: £34,285,000) and to the company of £27,500,000 (2022: £20,035,000). The directors expect that this support will continue for the foreseeable future and continue to work with key investors (owners) to progress the business plan.
Consequently, the directors are confident that the group will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the approval of the financial statements and therefore have prepared the financial statements on the going concern basis.
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Turnover for the group comprises: i) Revenue recognised by Trium Capital LLP and Trium Ireland Limited in respect of investment fund managment services supplied during the year, exclusive of Value Added Tax and trade discounts. ii) Revenue recognised by TCM Wealth Limited in respect of trading in securities (UK equities and asscoiated derivatives), financial instruments, on the accruals basis and is exempt from value added tax. Revenue arises from the profit on the sale of these financial instruments, which are not classed as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with the cost being charged to the profit and loss account. They are subsequently measured at fair value with changes in value recognised in the profit and loss account. Financial assets and liabilities are measured at fair value through the profit and loss account and are marked to market at the close of each business day, with the unrealised gains and losses arising on revaluation recognised in the profit and loss account. Any realised gains and losses are also recognised in the profit and loss account.
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's Balance sheet when the group becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
There were no significant judgments exercised by management in the preparation of the financial statements. b) Key accounting estimates and assumptions: As discussed in Note 2.5(ii) the group recognises certain trading assets at their fair value at the year end, which are held as part of current asset investments. The majority of the trading assets (securities) held are quoted UK equities where year end market prices are readily available and can be utilised. However, for certain assets (securities) while there may be a quoted price, the group may deem that the stock has liquidity concerns, and so on disposal the net proceeds may be lower than the quoted price, and therefore the market value will be marked down in accordance with estimates made by the management team and experienced traders. In addition to the above the group and company hold certain fixed asset investments in unlisted businesses and the management team assess these on an annual basis for any indications of impairment.
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of turnover by country of destination:
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Page 26
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The group has carried forward taxation losses of £32,612,580 (2022: £22,580,327) which can be offset against future taxable profits.
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Page 30
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Page 31
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
During the year 6,614,936 Ordinary shares of £0.01 each were issued at par.
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £141,219 (2022 - £99,771). Contributions totalling £2,104 (2022 - £4,894) were payable to the fund at the balance sheet date and are
included in creditors.
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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TRIUM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Page 35
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