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Registration number: 02400888

TRS Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

TRS Investments Limited

Company Information

Directors

Mr Iqbal Taherally Suterwalla

Mr Hatim Taherally Suterwalla

Mr Siraj Taherally Suterwalla

Mr Fakhruddin Taherally Suterwalla

Mr Mansoor Taherally Suterwalla

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

TRS Investments Limited

(Registration number: 02400888)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

-

1,000,000

Current assets

 

Debtors

6

13,010

-

Cash at bank and in hand

 

8,517,927

6,849,809

 

8,530,937

6,849,809

Creditors: Amounts falling due within one year

7

(91,748)

(26,814)

Net current assets

 

8,439,189

6,822,995

Total assets less current liabilities

 

8,439,189

7,822,995

Provisions for liabilities

-

(10,519)

Net assets

 

8,439,189

7,812,476

Capital and reserves

 

Called up share capital

8

1,000

1,000

Other reserves

-

31,557

Retained earnings

8,438,189

7,779,919

Shareholders' funds

 

8,439,189

7,812,476

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

.........................................
Mr Hatim Taherally Suterwalla
Director

 

TRS Investments Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

1,000

7,779,918

7,780,918

Profit for the year

-

658,271

658,271

At 31 December 2023

1,000

8,438,189

8,439,189

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 January 2022

1,000

31,557

7,678,361

7,710,918

Profit for the year

-

-

101,558

101,558

At 31 December 2022

1,000

31,557

7,779,919

7,812,476

 

TRS Investments Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD

These financial statements were authorised for issue by the Board on 17 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises interest on bank deposits in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

TRS Investments Limited

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax

86,947

24,414

UK corporation tax adjustment to prior periods

(161)

-

86,786

24,414

Deferred taxation

Arising from changes in tax rates and laws

-

2,525

Tax expense in the income statement

86,786

26,939

5

Unlisted Investments

Unlisted investments were disposed during the year.

6

Debtors

Current

2023
£

2022
£

Prepayments and accrued income

13,010

-

 

13,010

-

 

TRS Investments Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Corporation tax

86,948

24,414

Accruals and deferred income

2,400

2,400

Amount owed to related party

2,400

-

91,748

26,814

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

TRS Asset Management Ltd
 

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

Advanced

2,400

2,400

At end of period

2,400

2,400

10

Parent and ultimate parent undertaking

The company's immediate parent is TRS Investments (Holdings) Ltd, incorporated in United Kingdom.