2023-01-012023-12-312023-12-31false08150740TROJAN ASSET 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TROJAN ASSET LTD

Registered Number
08150740
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

TROJAN ASSET LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

SHEPHERD, David Richard

Company Secretary

SHEPHERD, Doreen

Registered Address

1 Gemini Court
42a Throwley Way
Sutton
SM1 4AF

Registered Number

08150740 (England and Wales)
TROJAN ASSET LTD
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets4462,460422,548
462,460422,548
Current assets
Debtors5317,261298,658
Cash at bank and on hand865242
318,126298,900
Creditors amounts falling due within one year6(87,819)(69,164)
Net current assets (liabilities)230,307229,736
Total assets less current liabilities692,767652,284
Creditors amounts falling due after one year7(61,900)(70,690)
Provisions for liabilities9(167,895)(159,423)
Net assets462,972422,171
Capital and reserves
Called up share capital200200
Revaluation reserve457,013413,078
Profit and loss account5,7598,893
Shareholders' funds10462,972422,171
The financial statements were approved and authorised for issue by the Director on 16 September 2024, and are signed on its behalf by:
SHEPHERD, David Richard
Director
Registered Company No. 08150740
TROJAN ASSET LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: P & M Depreciation rate has changed from 25% RB to 10% RB in current accounting year

Reducing balance (%)
Plant and machinery10
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year11
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 January 23870,66264,993935,655
Additions-61,37861,378
Revaluations50,000-50,000
Disposals-(13,000)(13,000)
At 31 December 23920,662113,3711,034,033
Depreciation and impairment
At 01 January 23470,66342,444513,107
Charge for year45,00019,15364,153
On disposals-(5,687)(5,687)
At 31 December 23515,66355,910571,573
Net book value
At 31 December 23404,99957,461462,460
At 31 December 22399,99922,549422,548
5.Debtors: amounts due within one year

2023

2022

££
Other debtors317,261298,658
Total317,261298,658
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,347442
Bank borrowings and overdrafts9,5739,807
Taxation and social security56,30437,608
Finance lease and HP contracts18,40619,230
Other creditors2,1892,077
Total87,81969,164
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts17,06326,401
Other creditors44,83744,289
Total61,90070,690
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts44,83844,289
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)167,895159,423
Total167,895159,423
10.Fair value reserve

£
Fair value reserve at 01 January 23413,078
Transferred in period43,935
At 31 December 23457,013