Troika International Limited 03990424 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the development and provision of seismic data management software consultancy and other services. Digita Accounts Production Advanced 6.30.9574.0 true true 03990424 2023-04-01 2024-03-31 03990424 2024-03-31 03990424 core:CurrentFinancialInstruments 2024-03-31 03990424 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03990424 core:Non-currentFinancialInstruments 2024-03-31 03990424 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03990424 core:FurnitureFittingsToolsEquipment 2024-03-31 03990424 bus:SmallEntities 2023-04-01 2024-03-31 03990424 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03990424 bus:FilletedAccounts 2023-04-01 2024-03-31 03990424 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03990424 bus:RegisteredOffice 2023-04-01 2024-03-31 03990424 bus:Director2 2023-04-01 2024-03-31 03990424 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03990424 core:FurnitureFittings 2023-04-01 2024-03-31 03990424 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03990424 countries:EnglandWales 2023-04-01 2024-03-31 03990424 2023-03-31 03990424 core:FurnitureFittingsToolsEquipment 2023-03-31 03990424 2022-04-01 2023-03-31 03990424 2023-03-31 03990424 core:CurrentFinancialInstruments 2023-03-31 03990424 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03990424 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-03-31 03990424 core:CurrentFinancialInstruments core:PreviouslyStatedAmount 2023-03-31 03990424 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03990424 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2023-03-31 03990424 core:Non-currentFinancialInstruments core:PreviouslyStatedAmount 2023-03-31 03990424 core:FurnitureFittingsToolsEquipment 2023-03-31 03990424 core:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 03990424

Troika International Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Troika International Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,082

21,675

Current assets

 

Debtors

5

184,824

406,584

Cash at bank and in hand

 

35,334

6,373

 

220,158

412,957

Creditors: Amounts falling due within one year

6

(310,083)

(301,847)

Net current (liabilities)/assets

 

(89,925)

111,110

Total assets less current liabilities

 

(71,843)

132,785

Creditors: Amounts falling due after more than one year

6

(11,830)

(21,143)

Net (liabilities)/assets

 

(83,673)

111,642

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(83,773)

111,542

Shareholders' (deficit)/funds

 

(83,673)

111,642

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.

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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Troika International Limited

Statement of Financial Position as at 31 March 2024

Approved and authorised by the Board on 11 November 2024 and signed on its behalf by:
 

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

Miss C J L Clarke

Director

Company registration number: 03990424

 

Troika International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Eridge House
Coach & Horses Passage
The Pantiles
Tunbridge Wells
TN2 5NP

The principal activity of the company is that of the development and provision of seismic data management software consultancy and other services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a loss for the year ended 31 March 2024 and had net liabilities at that date of £83,673.

The directors have pledged their continued support to the company and after making enquiries, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

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 value added tax, returns, rebates and discounts.

The company recognises revenue from the sale of software licences at the point the licences are available to customers and in respect of ongoing maintenance and support evenly over the relevant period.

 

Troika International Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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 statement of financial position 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

Furniture, fixtures and equipment

25% reducing balance

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Troika International Limited

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

Research and development

Research and development expenditure is written off to the statement of income and retained earnings as incurred.

3

Staff numbers

The average number of persons employed by the company during the year was 12 (2023 - 12).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

53,432

53,432

Additions

2,580

2,580

At 31 March 2024

56,012

56,012

Depreciation

At 1 April 2023

31,757

31,757

Charge for the year

6,173

6,173

At 31 March 2024

37,930

37,930

Carrying amount

At 31 March 2024

18,082

18,082

At 31 March 2023

21,675

21,675

5

Debtors

2024
£

2023
£

Trade debtors

115,792

178,418

Other debtors

69,032

228,166

184,824

406,584

 

Troika International Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

7

79,948

75,458

Trade creditors

 

31,332

53,782

Taxation and social security

 

12,418

10,869

Other creditors

 

186,385

161,738

 

310,083

301,847

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

11,830

21,143

The bank loan and overdraft are secured by a fixed and floating charge over the assets and undertakings of the company.

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank loan

10,000

10,000

Bank overdrafts

69,948

65,458

79,948

75,458

2024
£

2023
£

Non-current loans and borrowings

Bank loan

11,830

21,143

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £72,413 (2023 - £111,911).