Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31From 1 February 2024, the controlling party changed from Stanford Marsh Limited to Stanford Marsh Group Holdings Limited. The ultimate controlling party remains the same. On 1 February 2024, the trade and net assets of the subsidiary 3D Print Bureau Limited were transferred into the company.truetruetrue2023-02-01truetrue17truefalseNo description of principal activity20truetruefalse 06459476 2023-02-01 2024-01-31 06459476 2022-02-01 2023-01-31 06459476 2024-01-31 06459476 2023-01-31 06459476 1 2023-02-01 2024-01-31 06459476 d:Director1 2023-02-01 2024-01-31 06459476 c:Buildings c:LongLeaseholdAssets 2023-02-01 2024-01-31 06459476 c:Buildings c:LongLeaseholdAssets 2024-01-31 06459476 c:Buildings c:LongLeaseholdAssets 2023-01-31 06459476 c:MotorVehicles 2023-02-01 2024-01-31 06459476 c:MotorVehicles 2024-01-31 06459476 c:MotorVehicles 2023-01-31 06459476 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06459476 c:FurnitureFittings 2023-02-01 2024-01-31 06459476 c:FurnitureFittings 2024-01-31 06459476 c:FurnitureFittings 2023-01-31 06459476 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06459476 c:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 06459476 c:OtherPropertyPlantEquipment 2024-01-31 06459476 c:OtherPropertyPlantEquipment 2023-01-31 06459476 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06459476 c:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06459476 c:CurrentFinancialInstruments 2024-01-31 06459476 c:CurrentFinancialInstruments 2023-01-31 06459476 c:CurrentFinancialInstruments c:WithinOneYear 2024-01-31 06459476 c:CurrentFinancialInstruments c:WithinOneYear 2023-01-31 06459476 c:ShareCapital 2024-01-31 06459476 c:ShareCapital 2023-01-31 06459476 c:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 06459476 c:RetainedEarningsAccumulatedLosses 2024-01-31 06459476 c:RetainedEarningsAccumulatedLosses 2023-01-31 06459476 d:OrdinaryShareClass1 2023-02-01 2024-01-31 06459476 d:OrdinaryShareClass1 2024-01-31 06459476 d:OrdinaryShareClass1 2023-01-31 06459476 d:FRS102 2023-02-01 2024-01-31 06459476 d:Audited 2023-02-01 2024-01-31 06459476 d:FullAccounts 2023-02-01 2024-01-31 06459476 d:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06459476 c:WithinOneYear 2024-01-31 06459476 c:WithinOneYear 2023-01-31 06459476 c:BetweenOneFiveYears 2024-01-31 06459476 c:BetweenOneFiveYears 2023-01-31 06459476 d:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06459476 2 2023-02-01 2024-01-31 06459476 6 2023-02-01 2024-01-31 06459476 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06459476
















TRI-TECH ENGINEERING LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024


































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TRI-TECH ENGINEERING LIMITED
REGISTERED NUMBER:06459476

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
312,457
261,009

Investments
 5 
100
100

  
312,557
261,109

CURRENT ASSETS
  

Stocks
 6 
613,940
397,341

Debtors: amounts falling due within one year
 7 
1,042,987
1,764,339

Cash at bank and in hand
 8 
2,269,737
1,331,482

  
3,926,664
3,493,162

Creditors: amounts falling due within one year
 9 
(2,096,668)
(1,637,082)

NET CURRENT ASSETS
  
1,829,996
1,856,080

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,142,553
2,117,189

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(43,960)
(60,364)

NET ASSETS
  
2,098,593
2,056,825


CAPITAL AND RESERVES
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
2,098,493
2,056,725

  
2,098,593
2,056,825


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 statement of comprehensive income 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: 





J S Marsh
Director

Date: 27 October 2024

The notes on pages 2 to 9 form part of these financial statements.

Page 1


TRI-TECH ENGINEERING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


GENERAL INFORMATION

Tri-Tech Engineering Limited is a private company, limited by shares, incorporated in the UK and registered in England and Wales. The registered office is Haycroft Works, Buckholt Drive, Warndon Industrial Estate, Worcester, WR4 9ND. The trading address is 3-4 North Staffs Business Park, Stoke-on-Trent, ST6 4BF.
The principal activity of the company during the period continued to be the retail of wide format printing machines and equipment.

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 financial statements cover the individual company only. They are presented in Sterling and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Stanford Marsh Limited as at 31 January 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

 
2.3

EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.4

GOING CONCERN

The directors have reviewed budgets and forecasts for a period of at least 12 months from approval of these financial statements. It is considered that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Page 2


TRI-TECH ENGINEERING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.ACCOUNTING POLICIES (continued)

 
2.5

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.6

INTEREST INCOME

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

 
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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


TRI-TECH ENGINEERING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.ACCOUNTING POLICIES (continued)

 
2.8

CURRENT AND DEFERRED 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting 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 reporting 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 reporting date.

 
2.9

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 and reducing balance methods..

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over the lease term
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Other fixed assets
-
20% straight line

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.

 
2.10

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4


TRI-TECH ENGINEERING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.ACCOUNTING POLICIES (continued)

 
2.11

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 is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.12

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.

 
2.13

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

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.

 
2.15

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.

 
2.16

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 20 (2023: 17).

Page 5


TRI-TECH ENGINEERING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


TANGIBLE FIXED ASSETS





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£



COST


At 1 February 2023
21,740
15,408
88,746
618,017
743,911


Transfers from stock
-
-
-
142,399
142,399



At 31 January 2024

21,740
15,408
88,746
760,416
886,310



DEPRECIATION


At 1 February 2023
21,740
13,129
65,905
382,128
482,902


Charge for the year
-
2,279
4,367
84,305
90,951



At 31 January 2024

21,740
15,408
70,272
466,433
573,853



NET BOOK VALUE



At 31 January 2024
-
-
18,474
293,983
312,457



At 31 January 2023
-
2,279
22,841
235,889
261,009


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 February 2023
100



At 31 January 2024
100





6.


STOCKS

2024
2023
£
£

Finished goods and goods for resale
613,940
397,341


Page 6


TRI-TECH ENGINEERING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


DEBTORS

2024
2023
£
£


Trade debtors
450,915
724,529

Amounts owed by group undertakings
552,414
1,025,166

Other debtors
3,801
-

Prepayments and accrued income
35,857
14,644

1,042,987
1,764,339



8.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
2,269,737
1,331,482



9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
1,020,106
831,011

Amounts owed to group undertakings
296,464
-

Corporation Tax
29,728
120,647

Other taxation and social security
27,605
138,031

Other creditors
23,325
14,947

Accruals and deferred income
699,440
532,446

2,096,668
1,637,082



10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023: 100) Ordinary Shares shares of £1.00 each
100
100



11.


RESERVES

Profit and loss account

This reserve includes all current and prior period retained profits and losses.

Page 7


TRI-TECH ENGINEERING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


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 £29,266 (2023: £14,028). Contributions totalling £7,279 (2023: £2,711) were payable to the fund at the reporting date and are included in creditors.


13.


COMMITMENTS UNDER OPERATING LEASES

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
15,470
9,703

Later than 1 year and not later than 5 years
7,176
9,141

22,646
18,844


14.


RELATED PARTY TRANSACTIONS

The company has taken the exemption under FRS 102 33.1A from disclosing transactions with wholly owned group companies.


15.


POST BALANCE SHEET EVENTS

From 1 February 2024, the controlling party changed from Stanford Marsh Limited to Stanford Marsh Group Holdings Limited. The ultimate controlling party remains the same.

On 1 February 2024, the trade and net assets of the subsidiary 3D Print Bureau Limited were transferred into the company.


16.


CONTROLLING PARTY

At 31 January 2024, the company was controlled by its parent undertaking Stanford Marsh Limited. The ultimate controlling party was considered to be Mr C S Marsh by virtue of his shareholding in Stanford Marsh Limited.
From 1 February 2024, the company is controlled by Stanford Marsh Group Holdings Limited, as per the details in the Post Balance Sheet Events note. The ultimate controlling party is still Mr C S Marsh by virtue of his shareholding in Stanford Marsh Group Holdings Limited.
Copies of the consolidated financial statements prepared by Stanford Marsh Limited for the year ending 31 January 2024 can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

Page 8


TRI-TECH ENGINEERING LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

17.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 28 October 2024 by Richard Newton FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

 
Page 9