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REGISTERED NUMBER: 13532868 (England and Wales)









Financial Statements

for the Year Ended 31 December 2023

for

Trilitech Limited

Trilitech Limited (Registered number: 13532868)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Trilitech Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R A Maxe
A R Meunier
L Van Setten





REGISTERED OFFICE: 14 Soho Square
London
W1D 3QG





REGISTERED NUMBER: 13532868 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Trilitech Limited (Registered number: 13532868)

Statement of Financial Position
31 December 2023

2023 2022
as restated
Notes £    £   
FIXED ASSETS
Intangible assets 4 75,082 83,698
Tangible assets 5 738,426 827,140
Investments 6 100 100
813,608 910,938

CURRENT ASSETS
Debtors 7 1,240,613 5,313,525
Investments 8 398,038 5,327
Cash at bank 6,042,801 4,361,360
7,681,452 9,680,212
CREDITORS
Amounts falling due within one year 9 (6,904,839 ) (9,608,421 )
NET CURRENT ASSETS 776,613 71,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,590,221

982,729

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 38,619 -
Retained earnings 1,551,502 982,629
1,590,221 982,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





R A Maxe - Director


Trilitech Limited (Registered number: 13532868)

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

1. STATUTORY INFORMATION

Trilitech Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to show investments at fair value.

Preparation of consolidated financial statements
The financial statements contain information about Trilitech Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when the service is provided.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Brand and website is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - straight line over the life of the lease
Plant and machinery etc - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Trilitech Limited (Registered number: 13532868)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Cryptocurrency held as investments are shown under the revaluation model and carried at a revalued amount, being the fair value on the date of revaluation less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Increases in market value will be recognised through other comprehensive income and accumulate in a revaluation reserve. This increase would however be recognised in the profit and loss account to the extent that it reverses a revaluation decrease previously recognised in the profit and loss account.

Decreases in market value as a result of a revaluation shall be recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity, any excess shall be recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 86,160
AMORTISATION
At 1 January 2023 2,462
Charge for year 8,616
At 31 December 2023 11,078
NET BOOK VALUE
At 31 December 2023 75,082
At 31 December 2022 83,698

Trilitech Limited (Registered number: 13532868)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 430,355 466,111 896,466
Additions 19,698 103,370 123,068
At 31 December 2023 450,053 569,481 1,019,534
DEPRECIATION
At 1 January 2023 17,566 51,760 69,326
Charge for year 106,103 105,679 211,782
At 31 December 2023 123,669 157,439 281,108
NET BOOK VALUE
At 31 December 2023 326,384 412,042 738,426
At 31 December 2022 412,789 414,351 827,140

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Amounts owed by group undertakings 860,295 4,524,317
Other debtors 380,318 789,208
1,240,613 5,313,525

8. CURRENT ASSET INVESTMENTS
2023 2022
as restated
£    £   
Listed investments 398,038 5,327

Trilitech Limited (Registered number: 13532868)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 7,350 68,757
Amounts owed to group undertakings 5,101,147 612,866
Taxation and social security 660,668 203,640
Other creditors 1,135,674 8,723,158
6,904,839 9,608,421

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£    £   
Within one year 280,000 280,000
Between one and five years 560,000 840,000
840,000 1,120,000

11. RESERVES
Revaluation
reserve
£   
Gain on investments 38,619

At 31 December 2023 38,619

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.