2023-04-012024-03-312024-03-31falseSC364285TRIVIATO 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TRIVIATO LIMITED

Registered Number
SC364285
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

TRIVIATO LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

CROLLA, Angela Maria
CROLLA, Antonio

Company Secretary

CROLLA, Angela Maria

Registered Address

3 Priestfield Road North
Edinburgh
EH16 5HS

Registered Number

SC364285 (Scotland)
TRIVIATO LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,826,941804,742
1,826,941804,742
Current assets
Debtors415,60055,500
Cash at bank and on hand52,0491,109
67,64956,609
Creditors amounts falling due within one year5(405,256)(443,304)
Net current assets (liabilities)(337,607)(386,695)
Total assets less current liabilities1,489,334418,047
Creditors amounts falling due after one year6(1,060,000)(31,317)
Provisions for liabilities7(2,157)(2,157)
Net assets427,177384,573
Capital and reserves
Called up share capital100100
Revaluation reserve203,341203,341
Profit and loss account223,736181,132
Shareholders' funds8427,177384,573
The financial statements were approved and authorised for issue by the Board of Directors on 17 September 2024, and are signed on its behalf by:
CROLLA, Antonio
Director
Registered Company No. SC364285
TRIVIATO LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares incorporated in Scotland. The registered office is 3 Priestfield Road North, Edinburgh, EH16 5HS.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies’ regime. 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.
Basis of preparation
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value.
Functional and presentation currency
The financial statements are presented in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
Having made due and careful enquiry, the directors have made the informed judgement that the company has adequate working capital to continue its operations over the next 12 months. As a result, the directors have continued to adopt the going concern basis of accounting in preparing these statutory accounts.
Turnover policy
Turnover represents amounts receivable for rental income net of VAT.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
The tax expense represents the sum of tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other year and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and laws. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost, or valuation, net of depreciation and any impairment losses. The gain or loss arising from the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Land and buildings are depreciated on a straight line basis over 50 years.

Straight line (years)
Plant and machinery25
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjsuted where applicable for any loss of service potential.
Financial instruments
The company has elected to apply provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Basic Financial Assets Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Classification of Financial Liabilities 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 company after deductin all of its liabilities. Basic Financial Liabilities Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business for suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Equity Instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the direction of the company.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 April 23800,000163,242963,242
Additions1,023,313-1,023,313
At 31 March 241,823,313163,2421,986,555
Depreciation and impairment
At 01 April 23-158,500158,500
Charge for year-1,1141,114
At 31 March 24-159,614159,614
Net book value
At 31 March 241,823,3133,6281,826,941
At 31 March 23800,0004,742804,742
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables15,60055,500
Total15,60055,500
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,332116,195
Amounts owed to related parties364,888260,429
Taxation and social security12,70751,380
Other creditors22,80015,300
Accrued liabilities and deferred income3,529-
Total405,256443,304
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,060,00031,317
Total1,060,00031,317
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,1572,157
Total2,1572,157
8.Revaluation reserve
The Directors have revalued the property at Baxters Place, Edinburgh based on an independent professional valuation obtained in March 2020. The Investment Property has been revalued to £800,000.

£
Reserve at 01 April 23203,341
At 31 March 24203,341
9.Related party transactions
At the reporting end date the following amounts were outstanding to related parties; Entities with common control - £265,155 (2023 - £319,288) Key management personnel - £107,232 (2023 - £122,232) At the reporting end date the following amounts were outstanding from related parties; Entities with common control - £NIL (2023 - £80,632)