Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-315The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false5truetruefalse 02604924 2023-01-01 2023-12-31 02604924 2022-01-01 2022-12-31 02604924 2023-12-31 02604924 2022-12-31 02604924 c:Director2 2023-01-01 2023-12-31 02604924 d:FurnitureFittings 2023-01-01 2023-12-31 02604924 d:FurnitureFittings 2023-12-31 02604924 d:FurnitureFittings 2022-12-31 02604924 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02604924 d:ComputerEquipment 2023-01-01 2023-12-31 02604924 d:ComputerEquipment 2023-12-31 02604924 d:ComputerEquipment 2022-12-31 02604924 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02604924 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02604924 d:OtherPropertyPlantEquipment 2023-12-31 02604924 d:OtherPropertyPlantEquipment 2022-12-31 02604924 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02604924 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02604924 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 02604924 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 02604924 d:CurrentFinancialInstruments 2023-12-31 02604924 d:CurrentFinancialInstruments 2022-12-31 02604924 d:Non-currentFinancialInstruments 2023-12-31 02604924 d:Non-currentFinancialInstruments 2022-12-31 02604924 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02604924 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02604924 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02604924 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02604924 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 02604924 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 02604924 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 02604924 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 02604924 d:ShareCapital 2023-12-31 02604924 d:ShareCapital 2022-12-31 02604924 d:RetainedEarningsAccumulatedLosses 2023-12-31 02604924 d:RetainedEarningsAccumulatedLosses 2022-12-31 02604924 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02604924 c:OrdinaryShareClass1 2023-12-31 02604924 c:FRS102 2023-01-01 2023-12-31 02604924 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02604924 c:FullAccounts 2023-01-01 2023-12-31 02604924 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02604924 2 2023-01-01 2023-12-31 02604924 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02604924 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02604924 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02604924














TRITTICO LIMITED

 
UNAUDITED

 FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TRITTICO LIMITED
REGISTERED NUMBER:02604924

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
200
200

Tangible assets
 5 
13,096
16,271

  
13,296
16,471

Current assets
  

Debtors: amounts falling due within one year
 6 
9,382
59,390

Cash at bank and in hand
 7 
9,307
26,705

  
18,689
86,095

Creditors: amounts falling due within one year
 8 
(133,582)
(177,501)

Net current liabilities
  
 
 
(114,893)
 
 
(91,406)

Total assets less current liabilities
  
(101,597)
(74,935)

Creditors: amounts falling due after more than one year
 9 
(14,167)
(24,167)

Provisions for liabilities
  

Deferred tax
 11 
(2,641)
(6,094)

  
 
 
(2,641)
 
 
(6,094)

Net liabilities
  
(118,405)
(105,196)


Capital and reserves
  

Called up share capital 
 12 
30,000
30,000

Profit and loss account
  
(148,405)
(135,196)

  
(118,405)
(105,196)


1

 
TRITTICO LIMITED
REGISTERED NUMBER:02604924
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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 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 on 25 September 2024.




................................................
V P Vassilev
Director

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

2

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

1.


General information

Trittico Limited is a private company, limited by shares, registered in England and Wales, registration number 02604924
The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of distribution of musical recordings and the promotion of concerts.

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 following principal accounting policies have been applied:

 
2.2

Going concern

As at the year end, the balance sheet shows that the company has liabilities in excess of assets as a result of losses made to date. The directors remain positive that the business will continue to generate revenue when the environment returns fully back to normality and therefore the accounts have  been prepared on a going concern basis. The directors have confirmed that they will provide support to the company for the foreseeable future and meet the excess liabilities if the company is unable to do so.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

3

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

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

 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.

4

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

2.Accounting policies (continued)

 
2.8

 Taxation

The tax expense for the year comprises current and deferred tax. 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 corporation 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

 Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

 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.

5

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

2.Accounting policies (continued)


2.10
 Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% reducing balance
Computer equipment
-
33% Straight line
Studio and office equipment
-
20% reducing balance

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.

 
2.11

 Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.12

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.13

 Creditors

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

 
2.14

 Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

6

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

4.


Intangible assets




Patents

£



Cost


At 1 January 2023
200



At 31 December 2023

200






Net book value



At 31 December 2023
200



At 31 December 2022
200




5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 January 2023
17,574
4,355
30,145
52,074


Additions
-
1,091
-
1,091



At 31 December 2023

17,574
5,446
30,145
53,165



Depreciation


At 1 January 2023
10,851
2,639
22,313
35,803


Charge for the year on owned assets
1,345
1,355
1,566
4,266



At 31 December 2023

12,196
3,994
23,879
40,069



Net book value



At 31 December 2023
5,378
1,452
6,266
13,096



At 31 December 2022
6,723
1,716
7,832
16,271

7

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

6.


Debtors

2023
2022
£
£


Trade debtors
-
50,537

Other debtors
7,741
6,366

Prepayments
1,641
2,487

9,382
59,390



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
9,307
26,705



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
68,883
69,428

Corporation tax
36
-

Other taxation and social security
9,043
17,108

Other creditors
34,150
30,685

Accruals
11,470
50,280

133,582
177,501


The bank loan of £10,000 (2022 - £10,000) included in creditors due with in one year is a COVID Bounce Back Loan, 100% guaranteed by the government.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,167
24,167


The bank loan of £14,167 (2022 - £24,167) included in creditors more than one year is a COVID Bounce Back Loan, 100% guaranteed by the government.

8

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

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
4,167
14,167


4,167
14,167


24,167
34,167



11.


Deferred taxation




2023


£






At beginning of year
(6,094)


Charged to profit or loss
3,453



At end of year
(2,641)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,641)
(6,094)

9

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

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



30,000 Ordinary shares of £1.00 each
30,000
30,000



13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £16,170 (2022 - £16,382). Included in other creditors at the year end there is an amount payable of £79 (2022 - payable £267).


14.


Related party transactions

Included in other creditors is an amount of £33,669  (2022 - £30,016due to the directors.

 
10