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Company registration number: SC546700
Trimara Services UK Limited
Unaudited filleted financial statements
31 December 2023
Dickson Middleton
Chartered Accountants
www.dicksonmiddleton.co.uk
A member firm of the UK 200 Group
Trimara Services UK Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Trimara Services UK Limited
Directors and other information
Directors Kerry Hawthorn
Stewart Hawthorn
Company number SC546700
Registered office 2 Victoria Road
Stirling
Scotland
FK8 2RH
Business address 2 Victoria Road
Stirling
Scotland
FK8 2RH
Accountants Dickson Middleton
Chartered Accountants
20 Barnton Street
Stirling
FK8 1NE
Trimara Services UK Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Trimara Services UK Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trimara Services UK Limited for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Trimara Services UK Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Trimara Services UK Limited and state those matters that we have agreed to state to the board of directors of Trimara Services UK Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trimara Services UK Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Trimara Services UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Trimara Services UK Limited. You consider that Trimara Services UK Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Trimara Services UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Dickson Middleton
Chartered Accountants
20 Barnton Street
Stirling
FK8 1NE
13 September 2024
Trimara Services UK Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 287,449 291,070
_______ _______
287,449 291,070
Current assets
Stocks - 92,433
Debtors 6 177,964 276,408
Cash at bank and in hand 882,717 933,382
_______ _______
1,060,681 1,302,223
Creditors: amounts falling due
within one year 7 ( 9,348) ( 230,560)
_______ _______
Net current assets 1,051,333 1,071,663
_______ _______
Total assets less current liabilities 1,338,782 1,362,733
_______ _______
Net assets 1,338,782 1,362,733
_______ _______
Capital and reserves
Called up share capital 20 20
Profit and loss account 1,338,762 1,362,713
_______ _______
Shareholders funds 1,338,782 1,362,733
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Stewart Hawthorn Kerry Hawthorn
Director Director
Company registration number: SC546700
Trimara Services UK 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 Scotland. The address of the registered office is Rockfoot, 2 Victoria Road, Stirling, Scotland, FK8 2RH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
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 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Freehold property - None
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 285,465 4,234 8,021 297,720
Disposals - - ( 8,021) ( 8,021)
_______ _______ _______ _______
At 31 December 2023 285,465 4,234 - 289,699
_______ _______ _______ _______
Depreciation
At 1 January 2023 - 1,754 4,896 6,650
Charge for the year - 496 625 1,121
Disposals - - ( 5,521) ( 5,521)
_______ _______ _______ _______
At 31 December 2023 - 2,250 - 2,250
_______ _______ _______ _______
Carrying amount
At 31 December 2023 285,465 1,984 - 287,449
_______ _______ _______ _______
At 31 December 2022 285,465 2,480 3,125 291,070
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 14,787 46,543
Other debtors 163,177 229,865
_______ _______
177,964 276,408
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 121,922
Social security and other taxes 2,056 101,803
Other creditors 7,292 6,835
_______ _______
9,348 230,560
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Kerry Hawthorn 75,547 1,250 ( 20,000) 56,797
Stewart Hawthorn 75,546 1,250 ( 20,000) 56,796
_______ _______ _______ _______
151,093 2,500 ( 40,000) 113,593
_______ _______ _______ _______