Company registration number 14648538 (England and Wales)
TRINITY INVESTMENTS EUROPE LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TRINITY INVESTMENTS EUROPE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
TRINITY INVESTMENTS EUROPE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
4
1,965
Current assets
Debtors
5
92,899
Cash at bank and in hand
56,395
149,294
Creditors: amounts falling due within one year
6
(394,149)
Net current liabilities
(244,855)
Net liabilities
(242,890)
Capital and reserves
Called up share capital
8
1
Profit and loss reserves
(242,891)
Total equity
(242,890)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 November 2024 and are signed on its behalf by:
Mr R P Donn
Director
Company registration number 14648538 (England and Wales)
TRINITY INVESTMENTS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Trinity Investments Europe Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 1 Ashley Road, ALTRINCHAM, WA14 2DT.
1.1
Reporting period
The company was incorporated on 8 February 2023. The financial statements reflect a reporting period from the date of incorporation to 31 December 2023. The period to the 31 December 2023 is the company's first reporting period and as such there are no comparative amounts to be presented.
1.2
Accounting convention
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.
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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
At the balance sheet date the the company has net liabilities. Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the support provided by its parent company and post year end financial performance.Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Computers
25% straight line
The gain or loss arising on 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 or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks.
1.6
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 balance sheet when the company becomes party to the contractual provisions of the instrument.
TRINITY INVESTMENTS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are recognised at transaction price including transaction costs.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.
1.7
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 discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current 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 years 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.
Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
TRINITY INVESTMENTS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and 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 that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
3
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 8 February 2023
Additions
2,026
At 31 December 2023
2,026
Depreciation and impairment
At 8 February 2023
Depreciation charged in the period
61
At 31 December 2023
61
Carrying amount
At 31 December 2023
1,965
5
Debtors
2023
Amounts falling due within one year:
£
Other debtors
12,899
Deferred tax asset
80,000
92,899
TRINITY INVESTMENTS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
£
Trade creditors
394
Other creditors
393,755
394,149
7
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Assets
2023
Balances:
£
Tax losses
80,000
2023
Movements in the period:
£
Liability at 8 February 2023
-
Credit to profit or loss
(80,000)
Asset at 31 December 2023
(80,000)
The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period.
8
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1
1
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Christopher Rayner FCA
Statutory Auditor:
Craufurd Hale Audit Services Limited
Date of audit report:
29 November 2024
TRINITY INVESTMENTS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
10
Financial commitments, guarantees and contingent liabilities
From 2 July 2024 a fixed charge over cash deposits is in place with the company's bank.
11
Related party transactions
Included in creditors: amounts falling due within one year is the £898 balance on a director's current account. The balance is interest free with no formal repayment terms.
Trinity Investments Europe Limited is a wholly-owned subsidiary of Trinity Real Estate Investments LLC.
Included in creditors: amounts falling due within one year is a £375,857 balance due to Trinity Real Estate Investments LLC. The balance is interest free with the maturity of £370,000 of the balance being five years from the date of the promissory note, which is dated 1 August 2023.
Included in other operating income is £3,142 charged to Trinity Real Estate Investments LLC by Trinity Investments Europe Limited for investment advisory services.
12
Parent company
Trinity Investments Europe Limited is a wholly-owned subsidiary of Trinity Real Estate Investment LLC, a company incorporated in the United States of America, of 55 Merchant Street, Suite 1500, Honolulu, Hawaii 96813. Copies of consolidated group accounts are not publicly available.