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Registered number: 10774448












RK TRINITY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 

RK TRINITY LIMITED
 
COMPANY INFORMATION


Director
Lord Farmer 




Registered number
10774448



Registered office
2 Queen Anne's Gate Buildings
Dartmouth Street

London

SW1H 9BP




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

London

WC2B 5AH




Bankers
Coutts & Co
440 Strand

London

WC2R 0QS






 
REGISTERED NUMBER:10774448
RK TRINITY LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,946
95,856

Current assets
  

Debtors: amounts falling due within one year
 5 
120,711
219,691

Bank and cash balances
  
152,126
2,319,680

  
272,837
2,539,371

Creditors: amounts falling due within one year
 6 
(5,626,816)
(7,896,763)

Net current liabilities
  
 
 
(5,353,979)
 
 
(5,357,392)

Total assets less current liabilities
  
(5,318,033)
(5,261,536)

  

Net liabilities
  
(5,318,033)
(5,261,536)


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
(5,418,033)
(5,361,536)

  
(5,318,033)
(5,261,536)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss accounts and director's report have not been delivered to the Registrar of Companies in accordance with the special 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 on 18 September 2024.




Lord Farmer
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 

RK TRINITY LIMITED

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

1.


General information

RK Trinity Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 2 Queen Anne's Gate Buildings, Dartmouth Street, London, SW1H 9BP.

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.

 
2.2

Going concern

The director acknowledges that the Company is showing a net current liability position at the Balance Sheet date. Contributing to the net current liability position is the amount due to the director. The director is committed to provide support to meet its liabilities as they fall due including not seeking repayment of amounts currently made available for at least the next twelve months from the date of signing the financial statements. Therefore the director has a reasonable expectation that the company has adequate resources to continue its operational existence for foreseeable future and accordingly they continue to adopt the going concern basis in preparing the financial statements. 

  
2.3

Cash flow statement

The Company has taken advantage of the exemption from preparing a Statement of Cash Flows on the basis that is is a small company. 

  
2.4

Net trading profit/(loss)

Net trading profit/(loss) comprises amounts recognised by the company in respect of closed trading positions during the year and in respect of services provided during the year. 

 
2.5

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.

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.

Depreciation is provided on the following basis:

Leasehold improvements
-
20%
Fixtures and fittings
-
20%
Office equipment
-
20%

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 profit or loss.

Page 2

 

RK TRINITY LIMITED

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

2.Accounting policies (continued)

 
2.6

Financial instruments

(i) Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
Other financial assets, including investments in equity instruments of entities which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is nominally the transaction price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss account.
(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss unless they are included in a hedging arrangement.
Financial liabilities are derecognised when the liability is extinguished, that is when the associated contractual obligation is discharged, cancelled or expires.
(ii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Page 3

 

RK TRINITY LIMITED

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

2.Accounting policies (continued)

 
2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.8

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 profit or loss 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.

 
2.9

Taxation

Tax is recognised in profit or loss 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 4

 

RK TRINITY LIMITED

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

4.


Tangible fixed assets





Leasehold Improvements
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost


At 1 January 2023
122,105
9,366
10,815
142,286



At 31 December 2023

122,105
9,366
10,815
142,286



Depreciation


At 1 January 2023
39,845
3,056
3,529
46,430


Charge for the year
51,413
3,944
4,553
59,910



At 31 December 2023

91,258
7,000
8,082
106,340



Net book value



At 31 December 2023
30,847
2,366
2,733
35,946



At 31 December 2022
82,260
6,310
7,286
95,856


5.


Debtors

2023
2022
£
£


Trade debtors
360
229

Other debtors
14,135
21,924

Prepayments and accrued income
106,216
197,538

120,711
219,691


Page 5

 

RK TRINITY LIMITED

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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
147,874
2,391,999

Other taxation and social security
9,312
13,113

Other creditors
5,400,388
5,437,252

Accruals and deferred income
69,242
54,399

5,626,816
7,896,763




7.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
116,052
116,052

Later than 1 year and not later than 5 years
3,180
119,232

119,232
235,284


8.


Controlling party

The ultimate controlling party is Lord Farmer. 
Page 6

 

RK TRINITY LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RK TRINITY LIMITED
FOR THE 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 RK Trinity Limited for the year ended 31 December 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.


We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales (ICAEW) and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.
 
 
It is your duty to ensure that RK Trinity Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that RK Trinity Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of RK Trinity 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.
Use of our report
This report is made solely to the director of RK Trinity Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of RK Trinity Limited and state those matters that we have agreed to state to him in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RK Trinity Limited and its director for our work or for this report.





Blick Rothenberg Limited
 
Chartered Accountants
  
16 Great Queen Street
London
WC2B 5AH

23 September 2024
Page 7