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REGISTERED NUMBER: 12390288 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

TROXY LONDON LIMITED

TROXY LONDON LIMITED (REGISTERED NUMBER: 12390288)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TROXY LONDON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: T F Sutton-Roberts





REGISTERED OFFICE: 490 Commercial Road
Tower Hamlets
London
E1 0HX





REGISTERED NUMBER: 12390288 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

TROXY LONDON LIMITED (REGISTERED NUMBER: 12390288)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 873,913 555,172

CURRENT ASSETS
Stocks 43,626 41,485
Debtors 5 500,534 130,165
Cash at bank and in hand 1,955,911 737,472
2,500,071 909,122
CREDITORS
Amounts falling due within one year 6 2,264,649 994,824
NET CURRENT ASSETS/(LIABILITIES) 235,422 (85,702 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,109,335

469,470

PROVISIONS FOR LIABILITIES 71,740 4,303
NET ASSETS 1,037,595 465,167

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,037,495 465,067
SHAREHOLDERS' FUNDS 1,037,595 465,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:



T F Sutton-Roberts - Director


TROXY LONDON LIMITED (REGISTERED NUMBER: 12390288)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Troxy London Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 rendering of services.

Turnover from the rendering of operation of arts facilities services is recognised on the date of the venue being hired out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income Statement and are measured subsequently at amortised cost.

Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


TROXY LONDON LIMITED (REGISTERED NUMBER: 12390288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 126 (2023 - 86 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 577,508 5,272 3,261 12,407 598,448
Additions 105,710 312,691 13,613 10,462 442,476
At 31 March 2024 683,218 317,963 16,874 22,869 1,040,924
DEPRECIATION
At 1 April 2023 39,548 799 385 2,544 43,276
Charge for year 56,717 59,171 2,673 5,174 123,735
At 31 March 2024 96,265 59,970 3,058 7,718 167,011
NET BOOK VALUE
At 31 March 2024 586,953 257,993 13,816 15,151 873,913
At 31 March 2023 537,960 4,473 2,876 9,863 555,172

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 174,541 106,874
Amounts owed by group undertakings 5,601 -
Other debtors 320,392 23,291
500,534 130,165

TROXY LONDON LIMITED (REGISTERED NUMBER: 12390288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,311,460 413,712
Amounts owed to group undertakings - 321,745
Taxation and social security 275,886 103,368
Other creditors 677,303 155,999
2,264,649 994,824

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 444,000 444,000
Between one and five years 1,200,000 1,200,000
In more than five years 2,250,000 2,550,000
3,894,000 4,194,000

This includes a 15-year lease to EMD Properties S.A (a company owned by M Sharma and D Sharma) for the use of 490 Commercial Road., and a 12 month commitment relating to the licensing of the brand name 'Troxy' and all relevant Intellectual Property to the parent company Ashburn Estates Limited.

8. RELATED PARTY DISCLOSURES

A Loan agreement between Ashburn Estates Limited and Troxy London Limited was in place, beginning in December 2023, for a total of £454,342.This loan is over a period of 10 years at an interest rate of 8.4%. This was fully paid off during the financial year.

The parent company of Troxy London Limited is Ashburn Estates Limited, who own all of the shares in the subsidiary.

9. ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Parties are M Sharma and D Sharma.