10 18 July 2024 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 08754348 2023-01-01 2023-12-31 08754348 2023-12-31 08754348 2022-12-31 08754348 2022-01-01 2022-12-31 08754348 2022-12-31 08754348 bus:Director1 2023-01-01 2023-12-31 08754348 bus:Director2 2023-01-01 2023-12-31 08754348 core:PlantMachinery 2022-12-31 08754348 core:FurnitureFittings 2022-12-31 08754348 core:PlantMachinery 2023-12-31 08754348 core:FurnitureFittings 2023-12-31 08754348 core:PlantMachinery 2023-01-01 2023-12-31 08754348 core:FurnitureFittings 2023-01-01 2023-12-31 08754348 core:WithinOneYear 2023-12-31 08754348 core:WithinOneYear 2022-12-31 08754348 core:ShareCapital 2023-12-31 08754348 core:ShareCapital 2022-12-31 08754348 core:RetainedEarningsAccumulatedLosses 2023-12-31 08754348 core:RetainedEarningsAccumulatedLosses 2022-12-31 08754348 core:PlantMachinery 2022-12-31 08754348 bus:Director1 2022-12-31 08754348 bus:Director1 2023-12-31 08754348 bus:Director1 2021-12-31 08754348 bus:Director1 2022-12-31 08754348 bus:Director1 2022-01-01 2022-12-31 08754348 bus:SmallEntities 2023-01-01 2023-12-31 08754348 bus:Audited 2023-01-01 2023-12-31 08754348 bus:FullAccounts 2023-01-01 2023-12-31 08754348 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08754348 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08754348
The Trustees Office Limited
Filleted Financial Statements
31 December 2023
The Trustees Office Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
8,580
5,158
Current assets
Debtors
6
220,987
168,650
Cash at bank and in hand
431,774
368,668
ÄÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄÄ
652,761
537,318
Creditors: amounts falling due within one year
7
113,533
80,756
ÄÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄÄ
Net current assets
539,228
456,562
ÄÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄÄ
Total assets less current liabilities
547,808
461,720
ÄÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄÄ
Net assets
547,808
461,720
ÍÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍÍ
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
546,808
460,720
ÄÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄÄ
Shareholders funds
547,808
461,720
ÍÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍÍ
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 18 July 2024 , and are signed on behalf of the board by:
J M Storer
D R Hawkes
Director
Director
Company registration number: 08754348
The Trustees Office Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mexborough Business Centre, College Road, Mexborough, S64 9JP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10 - 40% reducing balance
Fixtures and fittings
-
10 - 40% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 9 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2023
47,504
2,429
49,933
Additions
6,888
6,888
ÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄ
At 31 December 2023
54,392
2,429
56,821
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
Depreciation
At 1 January 2023
42,346
2,429
44,775
Charge for the year
3,466
3,466
ÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄ
At 31 December 2023
45,812
2,429
48,241
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
Carrying amount
At 31 December 2023
8,580
8,580
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
At 31 December 2022
5,158
5,158
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
6. Debtors
2023
2022
£
£
Trade debtors
157,548
89,295
Other debtors
63,439
79,355
ÄÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄÄ
220,987
168,650
ÍÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍÍ
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,237
6,060
Corporation tax
27,650
10,050
Social security and other taxes
32,921
17,921
Other creditors
46,725
46,725
ÄÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄ
113,533
80,756
ÍÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
8. Auditor's liability limitation
In accordance with the terms of engagement and a written resolution dated 12 July 2024, the company has entered into an auditor liability limitation agreement capping liability at £100,000.
9. Contingencies
The rental agreement for office accommodation includes terms which may result in amounts being payable at the end of the lease for reinstatement costs. As the directors are not aware of any significant reinstatement required required they have determined that it is not practical to make a reliable estimate and so no provision has been made for the potential liability.
10. Summary audit opinion
The auditor's report for the year dated 18 July 2024 was unqualified .
The senior statutory auditor was Keith Dennis Hawson , for and on behalf of Walters Hawson Limited .
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
J M Storer
40,000
40,000
ÍÍÍÍÍÍÍÍ
ÍÍÍÍ
ÍÍÍÍÍÍÍÍ
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
J M Storer
50,000
( 10,000)
40,000
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
The loan to the director carries interest at the HMRC official rate for beneficial loans and is repayable on demand.