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COMPANY REGISTRATION NUMBER: 05726162
Trafalgar Square Solutions Limited
Filleted Unaudited Financial Statements
31 December 2023
Trafalgar Square Solutions Limited
Financial Statements
Year ended 31 December 2023
Contents
Pages
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
1
Balance sheet
2
Notes to the financial statements
3 to 5
Trafalgar Square Solutions Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Trafalgar Square Solutions Limited
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 Trafalgar Square Solutions 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Trafalgar Square Solutions Limited in accordance with the terms of our engagement letter dated 22 December 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Trafalgar Square Solutions Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trafalgar Square Solutions Limited and its director for our work or for this report.
It is your duty to ensure that Trafalgar Square Solutions 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 loss of Trafalgar Square Solutions Limited. You consider that Trafalgar Square Solutions Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Trafalgar Square Solutions 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.
MILLER DAVIES LLP Chartered accountants
A3 Broomsleigh Business Park Worsley Bridge Road London SE26 5BN
25 September 2024
Trafalgar Square Solutions Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
148
Current assets
Debtors
6
1,103
Cash at bank and in hand
21,518
47,205
--------
--------
21,518
48,308
Creditors: amounts falling due within one year
7
6,408
14,161
--------
--------
Net current assets
15,110
34,147
--------
--------
Total assets less current liabilities
15,258
34,147
--------
--------
Net assets
15,258
34,147
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
15,256
34,145
--------
--------
Shareholders funds
15,258
34,147
--------
--------
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 profit and loss account has not been delivered.
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr M A Franklyn
Director
Company registration number: 05726162
Trafalgar Square Solutions Limited
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 A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The turnover shown in the profit and loss account represents commissions and fees charged in respect of mortgage packaging services during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
Computer equipment
-
50% straight line
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Computer equipment
Total
£
£
Cost
At 1 January 2023
1,296
1,296
Additions
295
295
Disposals
( 304)
( 304)
-------
-------
At 31 December 2023
1,287
1,287
-------
-------
Depreciation
At 1 January 2023
1,296
1,296
Charge for the year
147
147
Disposals
( 304)
( 304)
-------
-------
At 31 December 2023
1,139
1,139
-------
-------
Carrying amount
At 31 December 2023
148
148
-------
-------
At 31 December 2022
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
1,103
----
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
48
50
Other creditors
6,360
14,111
-------
--------
6,408
14,161
-------
--------
8. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
21,518
47,295
--------
--------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
6,362
14,113
-------
--------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
25,200
Later than 1 year and not later than 5 years
8,400
--------
----
33,600
--------
----
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr M A Franklyn
( 12,311)
7,751
( 4,560)
--------
-------
-------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr M A Franklyn
( 14,367)
2,056
( 12,311)
--------
-------
--------