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Registration number: 11797790

Tri-Vector Capital Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Tri-Vector Capital Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Tri-Vector Capital Limited

Company Information

Directors

Mr David Anthony Stockings

Mr John Stockings

Mr Tom Stockings

Registered office

Potters Farm
Ewelme
Wallingford
Oxon
OX10 6PX

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Tri-Vector Capital Limited

(Registration number: 11797790)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

57,096

25,675

Investments

5

51

51

 

57,147

25,726

Current assets

 

Stocks

6

260,200

-

Debtors

7

4,174,751

3,705,720

Cash at bank and in hand

 

48,688

435,861

 

4,483,639

4,141,581

Creditors: Amounts falling due within one year

8

(4,322,486)

(3,898,175)

Net current assets

 

161,153

243,406

Total assets less current liabilities

 

218,300

269,132

Creditors: Amounts falling due after more than one year

8

(13,333)

(23,333)

Net assets

 

204,967

245,799

Capital and reserves

 

Called up share capital

3

3

Retained earnings

204,964

245,796

Shareholders' funds

 

204,967

245,799

For the financial year ending 31 January 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 

 

Tri-Vector Capital Limited

(Registration number: 11797790)
Balance Sheet as at 31 January 2024

.........................................
Mr John Stockings
Director

 

Tri-Vector Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Potters Farm
Ewelme
Wallingford
Oxon
OX10 6PX

These financial statements were authorised for issue by the Board on 29 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Maturity dates for loans both advanced and enjoyed, whilst within the next twelve months, are expected to be renegotiated and as such will neither be called in or called upon. Accordingly the financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Tri-Vector Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% reducing balance

Motor Vehicles

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Tri-Vector Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Tri-Vector Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

-

45,645

45,645

Additions

2,000

64,787

66,787

Disposals

-

(29,040)

(29,040)

At 31 January 2024

2,000

81,392

83,392

Depreciation

At 1 February 2023

-

19,970

19,970

Charge for the year

500

18,531

19,031

Eliminated on disposal

-

(12,705)

(12,705)

At 31 January 2024

500

25,796

26,296

Carrying amount

At 31 January 2024

1,500

55,596

57,096

At 31 January 2023

-

25,675

25,675

5

Investments

2024
£

2023
£

Investments in subsidiaries

51

51

Subsidiaries

£

Cost or valuation

At 1 February 2023

51

Provision

Carrying amount

At 31 January 2024

51

At 31 January 2023

51

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Tri-Vector Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Eden Valley Property Limited

England and Wales

Ordinary

51%

51%

Subsidiary undertakings

Eden Valley Property Limited

The principal activity of Eden Valley Property Limited is buying and selling of own real estate.

6

Stocks

2024
£

2023
£

Work in progress

260,200

-

7

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

10

4,126,210

3,705,720

Other debtors

 

48,541

-

 

4,174,751

3,705,720

 

Tri-Vector Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,055,198

3,630,811

Accruals and deferred income

 

4,083

4,158

Other creditors

 

263,205

263,206

 

4,322,486

3,898,175

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

13,333

23,333

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

13,333

23,333

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Other borrowings

4,045,198

3,620,811

4,055,198

3,630,811

Other borrowings

Other Borrowing is denominated in £ with a nominal interest rate of 6 to 12%, and the final instalment is due on 28 February 2025. The carrying amount at year end is £4,045,198 (2023 - £3,620,811).

The borrowing is from a related party of the directors for a principal sum of £2,550,000 drawn down against a £4,000,000 facility. The carrying amount includes accrued interest of £1,367,811. Interest accrues daily and is due for repayment on the same date that the principal repayment is due. The borrowing is unsecured.

 

Tri-Vector Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

10

Related party transactions

Loans to related parties

2024

Subsidiary
£

Other related parties
£

Total
£

At start of period

1,209,772

2,495,948

3,705,720

Interest transactions

120,977

299,514

420,491

At end of period

1,330,749

2,795,462

4,126,211

Provision for doubtful debts

(400,000)

(800,000)

(1,200,000)

2023

Subsidiary
£

Other related parties
£

Total
£

At start of period

1,099,793

2,228,525

3,328,318

Interest transactions

109,979

267,423

377,402

At end of period

1,209,772

2,495,948

3,705,720

Provision for doubtful debts

(400,000)

(800,000)

(1,200,000)

Terms of loans to related parties

£861,358 has been advanced by way of secured loan with interest charged at 10.0% daily and as at the period end £469,391 had been accrued. The accrued interest is due for repayment on the same date that the principal repayment is due. The loan is secured by way of fixed and floating charge over the assets of the entity and is due for repayment 31 January 2025.