Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10109548 2023-01-01 2023-12-31 10109548 2022-01-01 2022-12-31 10109548 2023-12-31 10109548 2022-12-31 10109548 c:Director2 2023-01-01 2023-12-31 10109548 d:CurrentFinancialInstruments 2023-12-31 10109548 d:CurrentFinancialInstruments 2022-12-31 10109548 d:Non-currentFinancialInstruments 2023-12-31 10109548 d:Non-currentFinancialInstruments 2022-12-31 10109548 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10109548 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10109548 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10109548 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10109548 d:ShareCapital 2023-12-31 10109548 d:ShareCapital 2022-12-31 10109548 d:RetainedEarningsAccumulatedLosses 2023-12-31 10109548 d:RetainedEarningsAccumulatedLosses 2022-12-31 10109548 c:FRS102 2023-01-01 2023-12-31 10109548 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10109548 c:FullAccounts 2023-01-01 2023-12-31 10109548 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10109548 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10109548










TRIM STREET LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TRIM STREET LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TRIM STREET 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 Trim Street 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 us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Trim Street Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Trim Street Limited  and state those matters that we have agreed to state to the Board of directors of Trim Street Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trim Street Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Trim Street Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Trim Street Limited. You consider that Trim Street 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 Trim Street 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.

  



Simmons Gainsford Professional Services Limited
 
Chartered Accountants
  
14th Floor
33 Cavendish Square
London
W1G 0PW
25 September 2024
Page 1

 
TRIM STREET LIMITED
REGISTERED NUMBER: 10109548

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
401,185
888,793

Debtors: amounts falling due within one year
 5 
170
866

Cash at bank and in hand
 6 
101
4,248

  
401,456
893,907

Creditors: amounts falling due within one year
 7 
(379,978)
(871,201)

Net current assets
  
 
 
21,478
 
 
22,706

Total assets less current liabilities
  
21,478
22,706

Creditors: amounts falling due after more than one year
 8 
(20,833)
(30,833)

  

Net assets/(liabilities)
  
645
(8,127)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
545
(8,227)

  
645
(8,127)


Page 2

 
TRIM STREET LIMITED
REGISTERED NUMBER: 10109548
    
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 by: 




R J Flook
Director

Date: 25 September 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

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

1.


General information

The Company is a private company limited by shares, and is incorporated in England and Wales. The address of its registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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.
Revenue includes amounts receivable on sale of properties net of VAT, with a sale being recognised
on completion.

 
2.3

Government grants

Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.4

Finance costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

 
2.5

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.

Page 4

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

2.Accounting policies (continued)

 
2.6

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 comprises expenditure incurred directly in developing the stocks to their current condition
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 profit or loss.

 
2.7

Debtors

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

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 5

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

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Stocks

2023
2022
£
£

Finished goods and goods for resale
401,185
888,793


Included within stocks at 31 December 2023 are capitalised borrowing costs of £29,418 (2022: £47,471).


5.


Debtors

2023
2022
£
£


Other debtors
170
782

Prepayments and accrued income
-
84

170
866


Page 6

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

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
101
4,248



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
24,694
7,087

Corporation tax
128
-

Other creditors
343,637
852,238

Accruals and deferred income
1,519
1,876

379,978
871,201



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,833
30,833


 
Page 7