Trust4business Limited 06319723 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is (i) To carry out property management. (ii) To encourage businesses into the local area. (iii) To encourage new businesses to start-up, access local business premises and grow. The company has created a profile within the local business community such that the company has become a focal point in the development of the local economy by providing well serviced subsidised business accommodation in partnership with the local authority and a local gateway to business support. During the period the company was involved in the following specific activities: (i) Sub-leasing and property management of Pendle Innovation Centre on behalf of Pendle Borough Council. (ii) Property management and sub-leasing Pendle Enterprise Haven. Digita Accounts Production Advanced 6.30.9574.0 true true 06319723 2023-04-01 2024-03-31 06319723 2024-03-31 06319723 core:OtherReservesSubtotal 2024-03-31 06319723 core:RetainedEarningsAccumulatedLosses 2024-03-31 06319723 core:CurrentFinancialInstruments 2024-03-31 06319723 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06319723 core:FurnitureFittingsToolsEquipment 2024-03-31 06319723 core:LandBuildings 2024-03-31 06319723 bus:SmallEntities 2023-04-01 2024-03-31 06319723 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06319723 bus:FilletedAccounts 2023-04-01 2024-03-31 06319723 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06319723 bus:RegisteredOffice 2023-04-01 2024-03-31 06319723 bus:Director1 2023-04-01 2024-03-31 06319723 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 06319723 bus:Agent1 2023-04-01 2024-03-31 06319723 core:Buildings 2023-04-01 2024-03-31 06319723 core:FurnitureFittings 2023-04-01 2024-03-31 06319723 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 06319723 core:LandBuildings 2023-04-01 2024-03-31 06319723 core:OfficeEquipment 2023-04-01 2024-03-31 06319723 countries:EnglandWales 2023-04-01 2024-03-31 06319723 2023-03-31 06319723 core:FurnitureFittingsToolsEquipment 2023-03-31 06319723 core:LandBuildings 2023-03-31 06319723 2022-04-01 2023-03-31 06319723 2023-03-31 06319723 core:OtherReservesSubtotal 2023-03-31 06319723 core:RetainedEarningsAccumulatedLosses 2023-03-31 06319723 core:CurrentFinancialInstruments 2023-03-31 06319723 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06319723 core:FurnitureFittingsToolsEquipment 2023-03-31 06319723 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06319723

Trust4business Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Trust4business Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Trust4business Limited

Company Information

Director

Mr K R Clark

Registered office

Pendle Enterprise Haven
138 Every Street
Nelson
Lancashire
BB9 7EX

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Trust4business Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Trust4business Limited for the year ended 31 March 2024 as set out on pages 3 to 6 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Trust4business Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Trust4business Limited and state those matters that we have agreed to state to the Board of Directors of Trust4business Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trust4business Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Trust4business Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Trust4business Limited. You consider that Trust4business 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 accounts of Trust4business 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 accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

30 October 2024

 

Trust4business Limited

(Registration number: 06319723)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

79,268

81,706

Current assets

 

Debtors

5

143,742

41,959

Cash at bank and in hand

 

500,576

594,510

 

644,318

636,469

Creditors: Amounts falling due within one year

6

(21,526)

(19,258)

Net current assets

 

622,792

617,211

Net assets

 

702,060

698,917

Reserves

 

Other reserves

758,448

758,448

Retained earnings

(56,388)

(59,531)

Surplus

 

702,060

698,917

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

The director acknowledges his 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 director on 30 October 2024
 

.........................................
Mr K R Clark
Director

 

Trust4business Limited

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

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Pendle Enterprise Haven
138 Every Street
Nelson
Lancashire
BB9 7EX

These financial statements were authorised for issue by the director on 30 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

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

Trust4business Limited

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

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.

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

Fixtures and fittings

10% straight line

Equipment

20% straight line

Property

2% straight line

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.

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.

3

Staff numbers

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

 

Trust4business Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

121,875

18,821

140,696

At 31 March 2024

121,875

18,821

140,696

Depreciation

At 1 April 2023

40,169

18,821

58,990

Charge for the year

2,438

-

2,438

At 31 March 2024

42,607

18,821

61,428

Carrying amount

At 31 March 2024

79,268

-

79,268

At 31 March 2023

81,706

-

81,706

Included within the net book value of land and buildings above is £79,268 (2023 - £81,706) in respect of freehold land and buildings.
 

5

Debtors

2024
£

2023
£

Trade debtors

24,991

25,940

Prepayments

292

268

Other debtors

118,459

15,751

143,742

41,959

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,075

947

Taxation and social security

8,860

7,777

Accruals and deferred income

575

575

Other creditors

11,016

9,959

21,526

19,258