1 February 2023 v2024.54.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsexbrli:purexbrli:sharesiso4217:GBPSC5545552023-02-012024-01-31SC5545552024-01-31SC554555bus:Director12023-02-012024-01-31SC5545552022-02-012023-01-31SC5545552023-01-31SC554555core:WithinOneYear2024-01-31SC554555core:WithinOneYear2023-01-31SC554555core:AfterOneYear2024-01-31SC554555core:AfterOneYear2023-01-31SC554555core:ShareCapital2024-01-31SC554555core:ShareCapital2023-01-31SC554555core:RetainedEarningsAccumulatedLosses2024-01-31SC554555core:RetainedEarningsAccumulatedLosses2023-01-31SC554555core:PlantMachinery2023-02-012024-01-31SC554555core:FurnitureFittings2023-02-012024-01-31SC554555core:OfficeEquipment2023-02-012024-01-31SC554555core:PlantMachinery2023-02-01SC554555core:PlantMachinery2024-01-31SC554555core:PlantMachinery2023-01-31SC55455512023-02-012024-01-31SC554555countries:Scotland2023-02-012024-01-31SC554555bus:AuditExemptWithAccountantsReport2023-02-012024-01-31SC554555bus:PrivateLimitedCompanyLtd2023-02-012024-01-31SC554555bus:SmallEntities2023-02-012024-01-31SC554555bus:FullAccounts2023-02-012024-01-31
Company registration number:
SC554555
Trident Lloyd Ltd
Unaudited Financial Statements for the year ended
31 January 2024
Trident Lloyd Ltd
Officers and Professional Advisers
Year ended
31 January 2024
Director
Mr Haroon Hussain
Accountant
ABC GRP Ltd
Suite 2.2, Trident House
Paisley
PA3 4EF
United Kingdom
Trident Lloyd Ltd
Director's Report
Year ended
31 January 2024
The director presents the report and the unaudited
financial statements
of the company for the year ended 31 January 2024.

Directors

The director who served the company during the year was as follows:
Mr Haroon Hussain

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
31 October 2024
and signed on behalf of the board by:
Mr Haroon Hussain
Director
Trident Lloyd Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Trident Lloyd Ltd
Year ended
31 January 2024
As described on the statement of financial position, the Board of Directors of
Trident Lloyd Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 January 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
ABC GRP Ltd
Suite 2.2, Trident House
Paisley
PA3 4EF
United Kingdom
Trident Lloyd Ltd
Income Statement
Year ended
31 January 2024
20242023
££
Turnover
1,267,428
 
1,117,369
 
Cost of sales
(1,056,347
) (896,502 )
Gross profit
211,081
 
220,867
 
Administrative expenses
(183,156
)
(178,273
)
Operating profit
27,925
 
42,594
 
Profit before tax
27,925
 
42,594
 
Tax on profit
(9,053
)
(12,368
)
Profit for the financial year
18,872
 
30,226
 
The company has no other recognised items of income or expense other than the results for the year as set out above.
Trident Lloyd Ltd
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Tangible assets 5
347,029
 
357,927
 
Current assets    
Debtors 6
67,186
 
80,381
 
Cash at bank and in hand
88,612
 
99,276
 
155,798
 
179,657
 
Creditors: amounts falling due within one year 7
(13,619
)
(26,936
)
Net current assets
142,179
 
152,721
 
Total assets less current liabilities 489,208   510,648  
Creditors: amounts falling due after more than one year 8
(47,573
)
(87,885
)
Net assets
441,635
 
422,763
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
441,634
 
422,762
 
Shareholders funds
441,635
 
422,763
 
For the 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.
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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
31 October 2024
, and are signed on behalf of the board by:
Mr Haroon Hussain
Director
Company registration number:
SC554555
Trident Lloyd Ltd
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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 measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% straight line
Fixtures and fittings
15% straight line
Office equipment
15% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2023
733,283
 
Additions
10,388
 
At
31 January 2024
743,671
 
Depreciation  
At
1 February 2023
375,356
 
Charge
21,286
 
At
31 January 2024
396,642
 
Carrying amount  
At
31 January 2024
347,029
 
At 31 January 2023
357,927
 

6 Debtors

20242023
££
Trade debtors
67,186
 
80,381
 

7 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
10,616
 
15,590
 
Other creditors
3,003
 
11,346
 
13,619
 
26,936
 

8 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
47,573
 
87,885