Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3182023-01-01falseThe principal activity of the Company during the period continued to be the supply of uPVC windows anddoors to the trade.9truetruefalse 08790123 2023-01-01 2023-12-31 08790123 2022-01-01 2022-12-31 08790123 2023-12-31 08790123 2022-12-31 08790123 c:Director2 2023-01-01 2023-12-31 08790123 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 08790123 d:Buildings d:LongLeaseholdAssets 2023-12-31 08790123 d:Buildings d:LongLeaseholdAssets 2022-12-31 08790123 d:PlantMachinery 2023-01-01 2023-12-31 08790123 d:PlantMachinery 2023-12-31 08790123 d:PlantMachinery 2022-12-31 08790123 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08790123 d:MotorVehicles 2023-01-01 2023-12-31 08790123 d:MotorVehicles 2023-12-31 08790123 d:MotorVehicles 2022-12-31 08790123 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08790123 d:FurnitureFittings 2023-01-01 2023-12-31 08790123 d:FurnitureFittings 2023-12-31 08790123 d:FurnitureFittings 2022-12-31 08790123 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08790123 d:OfficeEquipment 2023-01-01 2023-12-31 08790123 d:OfficeEquipment 2023-12-31 08790123 d:OfficeEquipment 2022-12-31 08790123 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08790123 d:ComputerEquipment 2023-01-01 2023-12-31 08790123 d:ComputerEquipment 2023-12-31 08790123 d:ComputerEquipment 2022-12-31 08790123 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08790123 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08790123 d:CurrentFinancialInstruments 2023-12-31 08790123 d:CurrentFinancialInstruments 2022-12-31 08790123 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08790123 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08790123 d:ShareCapital 2023-12-31 08790123 d:ShareCapital 2022-12-31 08790123 d:RetainedEarningsAccumulatedLosses 2023-12-31 08790123 d:RetainedEarningsAccumulatedLosses 2022-12-31 08790123 c:FRS102 2023-01-01 2023-12-31 08790123 c:Audited 2023-01-01 2023-12-31 08790123 c:FullAccounts 2023-01-01 2023-12-31 08790123 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08790123 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08790123 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08790123










TRUFRAME TRADE CENTRES LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TRUFRAME TRADE CENTRES LIMITED
REGISTERED NUMBER: 08790123

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
33,399
18,891

  
33,399
18,891

Current assets
  

Stocks
 5 
56,477
84,367

Debtors: amounts falling due within one year
 6 
342,224
508,790

Cash at bank and in hand
  
124,511
27,596

  
523,212
620,753

Creditors: amounts falling due within one year
 7 
(271,432)
(285,278)

Net current assets
  
 
 
251,780
 
 
335,475

Total assets less current liabilities
  
285,179
354,366

  

Net assets
  
285,179
354,366


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
285,079
354,266

  
285,179
354,366


Page 1

 
TRUFRAME TRADE CENTRES LIMITED
REGISTERED NUMBER: 08790123
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P D Firmager
Director

Date: 18 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TRUFRAME TRADE CENTRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Truframe Trade Centres Limited is a private company, limited by shares, domiciled in England and Wales, registration number 08790123. The registered office is Unit 3, Hudson Road, Saxby Road Industrial Estate, Melton Mowbray, Leicestershire, LE13 1BS.
The principal activity of the Company during the year continued to be the supply of uPVC windows and doors to the trade.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentational currency is British Pound Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

Truframe Limited, a fellow group subsidiary, has confirmed their intention to provide operational support to Truframe Trade Centres Limited for a period of at least 12 months from the signing of the financial statements .Based on this support and the continued profitability and working capital of Truframe Limited, the directors consider that the Company has the ability to continue as a going concern for at least the next 12 months and therefore these financial statements are prepared on a going concern basis.

Page 3

 
TRUFRAME TRADE CENTRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Profit and Loss Account on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and Loss Account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
TRUFRAME TRADE CENTRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in the Profit and Loss Account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the Profit and Loss Account during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method or reducing balance methods..

Depreciation is provided on the following basis:

Leasehold improvements
-
33% straight line per annum
Plant and machinery
-
20 - 40% straight line and reducing balance per annum
Motor vehicles
-
25 - 35% straight line and reducing balance per annum
Fixtures and fittings
-
25% straight line per annum
Office equipment
-
25% straight line per annum
Computer equipment
-
50% straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

Page 5

 
TRUFRAME TRADE CENTRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Profit and Loss Account.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction costs and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. 
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at
Page 6

 
TRUFRAME TRADE CENTRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

the balance sheet date. 
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 8).

Page 7

 


 
TRUFRAME TRADE CENTRES LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


4.


Tangible fixed assets






Leasehold improveme-nts
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 January 2023
91,632
31,503
56,524
14,338
13,862
8,400
216,259


Additions
-
-
16,430
-
-
-
16,430



At 31 December 2023

91,632
31,503
72,954
14,338
13,862
8,400
232,689



Depreciation


At 1 January 2023
91,631
30,324
39,155
13,997
13,861
8,400
197,368


Charge for the year
-
-
1,752
170
-
-
1,922



At 31 December 2023

91,631
30,324
40,907
14,167
13,861
8,400
199,290



Net book value



At 31 December 2023
1
1,179
32,047
171
1
-
33,399



At 31 December 2022
1
1,179
17,369
341
1
-
18,891

Page 8

 
TRUFRAME TRADE CENTRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Stocks
56,477
84,367

56,477
84,367



6.


Debtors

2023
2022
£
£


Trade debtors
154,897
182,321

Amounts owed by group undertakings
170,000
320,000

Prepayments and accrued income
17,327
6,469

342,224
508,790



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
132,004
207,893

Amounts owed to group undertakings
-
4,324

Corporation tax
63,669
26,671

Other taxation and social security
49,046
34,668

Other creditors
692
492

Accruals and deferred income
26,021
11,230

271,432
285,278



8.Guarantees and other financial commitments

The Company had total commitments at the balance sheet date of £100,475 (2022 - £148,123).

Page 9

 
TRUFRAME TRADE CENTRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Related party transactions

The wholly owned subsidiaries of the Group are exempt from the requirements of Financial Reporting Standard 102, section 1AC.35 to disclose transactions with other members of the group.
All transactions are considered to be at arms length.
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102, 1AC.35.


10.


Controlling party

The Company's parent undertaking is Aether Holdings Limited, a company incorporated in England and Wales. The registered office is Unit 3 J,K,L,M, Hudson Road, Saxby Road Industrial Estate, Melton Mowbray, Leicestershire, LE13 1BS. The parent preparing the consolidated financial statements for the smallest group of which the Company is a member is Aether Holdings Limited
The ultimate controlling party was P D Firmager by virtue of his directorship and majority shareholding of
the parent company.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 18 September 2024 by Shelley Harvey FCCA (Senior Statutory Auditor) on behalf of MHA.

 
Page 10