17 01/01/2023 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08210495 2023-01-01 2023-12-31 08210495 2023-12-31 08210495 2022-12-31 08210495 2022-01-01 2022-12-31 08210495 2022-12-31 08210495 2021-12-31 08210495 bus:Director3 2023-01-01 2023-12-31 08210495 core:NetGoodwill 2022-12-31 08210495 core:NetGoodwill 2023-12-31 08210495 core:LandBuildings core:ShortLeaseholdAssets 2022-12-31 08210495 core:FurnitureFittingsToolsEquipment 2022-12-31 08210495 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 08210495 core:FurnitureFittingsToolsEquipment 2023-12-31 08210495 core:MotorVehicles 2023-12-31 08210495 core:WithinOneYear 2023-12-31 08210495 core:WithinOneYear 2022-12-31 08210495 core:AfterOneYear 2023-12-31 08210495 core:AfterOneYear 2022-12-31 08210495 core:ShareCapital 2023-12-31 08210495 core:ShareCapital 2022-12-31 08210495 core:SharePremium 2023-12-31 08210495 core:RevaluationReserve 2023-12-31 08210495 core:RevaluationReserve 2022-12-31 08210495 core:RetainedEarningsAccumulatedLosses 2023-12-31 08210495 core:RetainedEarningsAccumulatedLosses 2022-12-31 08210495 core:NetGoodwill 2023-01-01 2023-12-31 08210495 core:LandBuildings core:ShortLeaseholdAssets 2023-01-01 2023-12-31 08210495 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 08210495 core:MotorVehicles 2023-01-01 2023-12-31 08210495 core:NetGoodwill 2022-12-31 08210495 core:FurnitureFittingsToolsEquipment 2022-12-31 08210495 bus:SmallEntities 2023-01-01 2023-12-31 08210495 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08210495 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08210495 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08210495 bus:FullAccounts 2023-01-01 2023-12-31
Company registration number: 08210495
TROPHY SUPPLIER LTD
Unaudited filleted financial statements
31 December 2023
TROPHY SUPPLIER LTD
Contents
Statement of financial position
Notes to the financial statements
TROPHY SUPPLIER LTD
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 3,350 3,950
Tangible assets 6 165,031 98,832
_______ _______
168,381 102,782
Current assets
Stocks 65,000 55,600
Debtors 7 129,975 35,079
Cash at bank and in hand 114,795 1,366
_______ _______
309,770 92,045
Creditors: amounts falling due
within one year 8 ( 225,860) ( 107,470)
_______ _______
Net current assets/(liabilities) 83,910 ( 15,425)
_______ _______
Total assets less current liabilities 252,291 87,357
Creditors: amounts falling due
after more than one year 9 ( 42,829) ( 48,955)
Provisions for liabilities - ( 9,589)
_______ _______
Net assets 209,462 28,813
_______ _______
Capital and reserves
Called up share capital 200 100
Share premium account 249,900 -
Revaluation reserve 20,937 20,937
Profit and loss account ( 61,575) 7,776
_______ _______
Shareholders funds 209,462 28,813
_______ _______
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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
Mr M Stewart
Director
Company registration number: 08210495
TROPHY SUPPLIER LTD
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 12, Holbrook Park, Swallow Road, Coventry, West Midlands, CV6 4PU.
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
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10% per annum on a straight line basis
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Short leasehold property - Over the term of the lease
Fittings fixtures and equipment - 20% per annum on a straight line basis
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.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 16 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2023 and 31 December 2023 26,000 26,000
_______ _______
Amortisation
At 1 January 2023 22,050 22,050
Charge for the year 600 600
_______ _______
At 31 December 2023 22,650 22,650
_______ _______
Carrying amount
At 31 December 2023 3,350 3,350
_______ _______
At 31 December 2022 3,950 3,950
_______ _______
6. Tangible assets
Short leasehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 5,298 131,228 - 136,526
Additions 56,635 19,975 15,000 91,610
_______ _______ _______ _______
At 31 December 2023 61,933 151,203 15,000 228,136
_______ _______ _______ _______
Depreciation
At 1 January 2023 5,298 32,396 - 37,694
Charge for the year 944 23,217 1,250 25,411
_______ _______ _______ _______
At 31 December 2023 6,242 55,613 1,250 63,105
_______ _______ _______ _______
Carrying amount
At 31 December 2023 55,691 95,590 13,750 165,031
_______ _______ _______ _______
At 31 December 2022 - 98,832 - 98,832
_______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 83,048 33,829
Other debtors 46,927 1,250
_______ _______
129,975 35,079
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 5,556 5,556
Trade creditors 144,044 59,041
Social security and other taxes 47,602 30,257
Other creditors 28,658 12,616
_______ _______
225,860 107,470
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 30,913 36,288
Other creditors 11,916 12,667
_______ _______
42,829 48,955
_______ _______