REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Audited Financial Statements for the Year Ended 31 October 2023 |
for |
Trion Pharma Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Audited Financial Statements for the Year Ended 31 October 2023 |
for |
Trion Pharma Limited |
Trion Pharma Limited (Registered number: 09293856) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 5 |
Income Statement | 8 |
Other Comprehensive Income | 9 |
Statement of Financial Position | 10 |
Statement of Changes in Equity | 11 |
Statement of Cash Flows | 12 |
Notes to the Statement of Cash Flows | 13 |
Notes to the Financial Statements | 14 |
Trion Pharma Limited |
Company Information |
for the Year Ended 31 October 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
144-146 Kings Cross Road |
Kings Cross |
London |
London |
WC1X9DU |
Trion Pharma Limited (Registered number: 09293856) |
Strategic Report |
for the Year Ended 31 October 2023 |
The directors present their strategic report for the year ended 31 October 2023. |
REVIEW OF BUSINESS |
The company is a wholesaler of pharmaceutical, medical, healthcare products based in London, UK and over past several years has seen a rapid organic growth, in its business. It is now considered a medium sized enterprise and this year has reached the threshold for audit requirements. The directors feel that this growth will be maintained over the coming years as the company reached new horizons in seeking out new products and new clients. |
Furthermore, the company is now poised to making improvements in its market presence and also streamlining its operational procedures by providing training and computer software developments for its operations. |
Post year-end, the company has performed in line with expectations and continue to grow from strength to strength. With the introduction of new products in the pipeline, the directors are also confident of improving the margins obtained on its products and improved efficiency put in place will see continued better results in future. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The directors have identified the following as the principal risks and uncertainties for the company. |
FINANCIAL RISKS |
The company's major customers are large corporations with good credit rating and therefore the financial risk to the company is limited. For overseas client the company insists on a deposit with the order, which also reduces its credit risk to the client. |
The company has adequate financial resources for its continued growth and therefore not dependant on external finances and therefore does not have major concerns about the financial risks to the company. |
COMPETITIVE RISKS |
The company is prone to competitive risk through pricing because of foreign currency fluctuations or obsolescence through innovation products. However, due to the fact that many of the company's products are regulated through government regulatory agencies the company keeps keen eye on market development of the products and take active steps to minimise any such loss to the company. |
COMMERCIAL RISKS |
The company's directors have considered expertise in this industry over a period of several years and are rofessionally qualified to understand the complexity of the sector in which the company operates. Where considered necessary the company will employ consultants to safeguard its exposure to commercial risks especially in the case of new product lines. The company's supplier chain are vetted thoroughly for their competency and their trade record and are closely monitored, by the senior managements. |
Overall, the directors feel that any exposure to risks and uncertainties are well managed and satisfied with the procedures and practices in place. |
Trion Pharma Limited (Registered number: 09293856) |
Strategic Report |
for the Year Ended 31 October 2023 |
KEY PERFORMANCE INDICATOR |
The key financial performance indicators used to determine the progress and performances of the company are as set out below: |
YE 31.10.2023 | YE 31.10.2022 |
Turnover | £14,552,431 | £9,596,893 |
Gross Profit | £7,245,358 | £4,604,565 |
Gross Profit Margin | 49.79% | 47.98% |
Profit before Tax | £5,971,584 | £3,117,079 |
Shareholder's Equity | £8,675,554 | £4,056,175 |
For year ended 31 October 2023, the company continued to increase its turnover by (51.64%) and its gross profit margin to (49.79%) for the previous year of (47.98 %). |
The company continues to maintain a healthy balance of reserves to meet its business requirements and development of new products. |
ON BEHALF OF THE BOARD: |
Trion Pharma Limited (Registered number: 09293856) |
Report of the Directors |
for the Year Ended 31 October 2023 |
The directors present their report with the financial statements of the company for the year ended 31 October 2023. |
DIVIDENDS |
No interim dividend was paid during the year. The directors recommend a final dividend of |
The total distribution of dividends for the year ended 31 October 2023 will be £ |
DIRECTOR |
The director holding office at 31 October 2023 did not hold any beneficial interest in the issued share capital of the company at 1 November 2022 or 31 October 2023. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Andrew Murray & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Trion Pharma Limited |
Qualified opinion |
We have audited the financial statements of Trion Pharma Limited (the 'company') for the year ended 31 October 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion except for the effects of the matter described in the Basis for qualified opinion section the financial statements: |
- give a true and fair view of the state of the company's affairs as at 31 October 2023 and of its profit for the year then ended; |
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- have been prepared in accordance with the requirements of the Companies Act 2006 |
Basis for qualified opinion |
We have not attained the stock take for the year-ended 31.10.2023. Therefore, we could not obtain sufficient audit evidence for the stock value. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Trion Pharma Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; |
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and understanding the design of the company’s internal control for the stock. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
Agreeing financial statement disclosures to underlying supporting documentation; |
Reading the minutes of meetings of those charged with governance; |
Enquiring of management as to actual and potential litigation and claims |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Trion Pharma Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants & Statutory Auditors |
144-146 Kings Cross Road |
Kings Cross |
London |
London |
WC1X9DU |
Trion Pharma Limited (Registered number: 09293856) |
Income Statement |
for the Year Ended 31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ |
REVENUE | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
5,886,890 | 3,048,044 |
Other operating income | 4 |
OPERATING PROFIT | 7 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 9 |
PROFIT FOR THE FINANCIAL YEAR |
Trion Pharma Limited (Registered number: 09293856) |
Other Comprehensive Income |
for the Year Ended 31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Trion Pharma Limited (Registered number: 09293856) |
Statement of Financial Position |
31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 11 |
CURRENT ASSETS |
Inventories | 12 |
Debtors | 13 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 14 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 15 |
Retained earnings | 16 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Trion Pharma Limited (Registered number: 09293856) |
Statement of Changes in Equity |
for the Year Ended 31 October 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 November 2021 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 October 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 October 2023 |
Trion Pharma Limited (Registered number: 09293856) |
Statement of Cash Flows |
for the Year Ended 31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Tax paid | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Amount introduced by directors | 1,626,540 | 26,440 |
Amount withdrawn by directors | (23,662 | ) | 124,138 |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
3,013,413 |
Cash and cash equivalents at end of year | 2 | 17,100,751 | 6,634,889 |
Trion Pharma Limited (Registered number: 09293856) |
Notes to the Statement of Cash Flows |
for the Year Ended 31 October 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
31.10.23 | 31.10.22 |
£ | £ |
Profit before taxation |
Depreciation charges |
Finance income | (21,794 | ) | (286 | ) |
6,045,814 | 3,193,402 |
Increase in inventories | ( |
) | ( |
) |
Decrease/(increase) in trade and other debtors | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
Year ended 31 October 2023 |
31.10.23 | 1.11.22 |
£ | £ |
Cash and cash equivalents | 17,100,751 | 6,634,889 |
Year ended 31 October 2022 |
31.10.22 | 1.11.21 |
£ | £ |
Cash and cash equivalents | 6,634,889 | 3,013,413 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.11.22 | Cash flow | At 31.10.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 6,634,889 | 10,465,862 | 17,100,751 |
6,634,889 | 17,100,751 |
Total | 6,634,889 | 10,465,862 | 17,100,751 |
Trion Pharma Limited (Registered number: 09293856) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Trion Pharma Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary |
amounts in these financial statements are rounded to the nearest £. |
The directors having considered the company's position for the year ended 31 December 2022, have given |
indication of their willingness to give group support to the company in the foreseeable future. |
On the basis, the directors consider it is appropriate to prepare the financial statements on going concern basis. |
The financial statements do not include any adjustment that would result if future cash flows are insufficient or officeholder support was withdrawn.The principal accounting policies of the company have remained unchanged during the year.The financial statements have been prepared under the going concern basis. |
Significant judgements and estimates |
In the application of the company’s accounting policies, the directors are required to make judgements,estimates assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only at period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Trion Pharma Limited (Registered number: 09293856) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the 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 statement of financial position when the company |
becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Basic financial assets |
Basic financial assets, which include trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
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 deducting all of its liabilities. |
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies |
and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest. |
Accounts payable are classified as 'creditors: amounts falling due within one year' if payment is due within one year or less. If not, they are presented as 'creditors: amounts falling due after more than one year'. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Trion Pharma Limited (Registered number: 09293856) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
3. | REVENUE |
The revenue and profit before taxation are attributable to the one principal activity of the company. |
An analysis of revenue by geographical market for the year ended 31 October 2023 is given below: |
£ |
United Kingdom |
Europe |
Rest of World | 65,000 |
This analysis is not considered to be applicable to the year ended 31 October 2022. |
4. | OTHER OPERATING INCOME |
31.10.23 | 31.10.22 |
£ | £ |
Other Income |
5. | EMPLOYEES AND DIRECTORS |
31.10.23 | 31.10.22 |
£ | £ |
Wages and salaries |
The average number of employees during the year was as follows: |
31.10.23 | 31.10.22 |
Finance | 2 | 1 |
Operation | 3 | 2 |
Sales and marketing | 2 | 2 |
Direct labour | 7 | 5 |
6. | DIRECTORS' EMOLUMENTS |
31.10.23 | 31.10.22 |
£ | £ |
Director's remuneration |
7. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.10.23 | 31.10.22 |
£ | £ |
Depreciation - owned assets |
Trion Pharma Limited (Registered number: 09293856) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
8. | AUDITORS' REMUNERATION |
2023 | 2022 |
£ | £ |
Audit fee | 30,000 | 0 |
30,000 | 0 |
9. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31.10.23 | 31.10.22 |
£ | £ |
Current tax: |
UK corporation tax |
Tax on profit |
10. | DIVIDENDS |
31.10.23 | 31.10.22 |
£ | £ |
Ordinary share capital shares of 1 each |
Final |
11. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Long | Plant and | and | Computer |
leasehold | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Trion Pharma Limited (Registered number: 09293856) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
12. | INVENTORIES |
31.10.23 | 31.10.22 |
£ | £ |
Stocks |
The stock has been recorded at a lower of cost or net realisable value. |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Trade debtors |
Other debtors |
Deposit | 62,500 | 65,336 |
Prepayments |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Trade creditors |
Wages Payable | 24,046 | 14,962 |
Tax |
Social security and other taxes |
VAT | 750,991 | 490,271 |
Directors' current accounts | 1,885,626 | 282,748 |
Accrued expenses |
15. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
value: | £ | £ |
Ordinary share capital | 1 | 100 | 100 |
16. | RESERVES |
Retained |
earnings |
£ |
At 1 November 2022 |
Profit for the year |
Dividends | ( |
) |
At 31 October 2023 |
Trion Pharma Limited (Registered number: 09293856) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
17. | RELATED PARTY |
Mr C Patel is a 100% shareholder of Trinav Ltd. |
Before Mr C Patel was appointed as director, Trion Pharma Ltd paid £81,600 in consultancy fees to Trinav Ltd during the year-end 31.10.2023 |