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REGISTERED NUMBER: 06904810 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Trilliant Networks (UK) Ltd

Trilliant Networks (UK) Ltd (Registered number: 06904810)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Trilliant Networks (UK) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr N Matchett





REGISTERED OFFICE: Morgan House
Madeira Walk
Windsor
Berkshire
SL4 1EP





REGISTERED NUMBER: 06904810 (England and Wales)





AUDITORS: WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Trilliant Networks (UK) Ltd (Registered number: 06904810)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,388 26,682

CURRENT ASSETS
Debtors 5 1,066,561 1,899,365
Cash at bank 15,615 185,654
1,082,176 2,085,019
CREDITORS
Amounts falling due within one year 6 (67,239 ) (1,139,479 )
NET CURRENT ASSETS 1,014,937 945,540
TOTAL ASSETS LESS CURRENT LIABILITIES 1,033,325 972,222

CAPITAL AND RESERVES
Called up share capital 1 1
Capital contribution reserve 49,180 49,180
Retained earnings 984,144 923,041
1,033,325 972,222

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 4 September 2024 and were signed by:





Mr N Matchett - Director


Trilliant Networks (UK) Ltd (Registered number: 06904810)

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

1. STATUTORY INFORMATION

Trilliant Networks (UK) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The directors have included a dilapidation provision within the financial statements. This is based on an estimate by the directors to cover the cost of potential spend to restore the premises to their original condition in accordance with the lease.

Turnover
Turnover for the year was derived from the sale of products and services to customers.

The company recognises turnover only when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectability is probable, for all revenue arrangements. Amount invoiced to or received from customers that does not meet the revenue recognition criteria is recorded as deferred income.

Where sales of products and services include multiple performance obligations, the elements of the arrangement are accounted for separately when each performance obligation has value to the customer on a standalone basis and there is objective and reliable evidence of the fair value. Turnover from license fees and hardware is recognised in line with the percentage completion, based on milestone events. Turnover from software support is recognised rateably over the period it is provided.

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

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

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.


Trilliant Networks (UK) Ltd (Registered number: 06904810)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 400,193
Additions 578
At 31 December 2023 400,771
DEPRECIATION
At 1 January 2023 373,511
Charge for year 8,872
At 31 December 2023 382,383
NET BOOK VALUE
At 31 December 2023 18,388
At 31 December 2022 26,682

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 160,306 1,101,402
Amounts owed by group undertakings 825,160 712,737
Other debtors 81,095 85,226
1,066,561 1,899,365

Trade debtors are amounts due from customers for goods sold or services performed in the course of business. Trade debtors are recognised at the undiscounted amount of cash receivables, which is normally the invoice price, less any allowances for doubtful debts.

Trilliant Networks (UK) Ltd (Registered number: 06904810)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 12,111 15,741
Taxation and social security 36,227 222,199
Other creditors 18,901 901,539
67,239 1,139,479

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 creditors falling due within one year if payment is required within one year or less.

Trade creditors are recognised at the undiscounted amount owed to the supplier, which is normally the invoice price.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philippa Duckworth BSc FCCA (Senior Statutory Auditor)
for and on behalf of WP Audit Limited

8. RELATED PARTY DISCLOSURES

The company made trade purchases of £660,308 from a fellow subsidiary during 2023 (2022: £622,241).

The company was re-charged costs of £78,750 by its parent company during 2023 (2022: £132,654).

9. ULTIMATE CONTROLLING PARTY

The immediate parent company is Trilliant Networks, Inc, a company incorporated in Delaware, USA. The smallest group in which the results of the entity are consolidated is that headed by Trilliant Holdings Inc, a company incorporated in Ontario, Canada. Copies of the consolidated financial statements of Trilliant Holdings Inc are available from Trilliant Holdings Inc, 401 Harrison Oaks blvd, Cary, North Carolina 2753, USA.

The ultimate parent company is Matlin Energy Holdings Inc, a company incorporated in Ontario, Canada and located 20 Floral Parkway, Concord, Ontario L4K 4R1, Canada.