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REGISTERED NUMBER: 09008769 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Triton Interiors Limited

Triton Interiors Limited (Registered number: 09008769)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Triton Interiors Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr P R Duffy
Mrs L M M Duffy





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





REGISTERED NUMBER: 09008769 (England and Wales)

Triton Interiors Limited (Registered number: 09008769)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 7,240 9,659
Investment property 6 1,000,000 950,000
1,007,240 959,659

CURRENT ASSETS
Debtors 7 2,654 5,057
Cash at bank 40,299 47,451
42,953 52,508
CREDITORS
Amounts falling due within one year 8 651,976 647,706
NET CURRENT LIABILITIES (609,023 ) (595,198 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,217

364,461

CREDITORS
Amounts falling due after more than one
year

9

(270,530

)

(276,436

)

PROVISIONS FOR LIABILITIES (32,411 ) (21,258 )
NET ASSETS 95,276 66,767

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 105,336 67,836
Retained earnings (10,160 ) (1,169 )
SHAREHOLDERS' FUNDS 95,276 66,767

Triton Interiors Limited (Registered number: 09008769)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2024 and were signed on its behalf by:




Mr P R Duffy - Director



Mrs L M M Duffy - Director


Triton Interiors Limited (Registered number: 09008769)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Triton Interiors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The Company incurred a loss for the financial year, however, the Company has reported a profit attributable to the revaluation of the property. The operating loss, which excludes the gain on revaluation, has resulted in an increased deficit to retained earnings. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive sufficient financial support from its shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due.

Turnover
Rental income 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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Triton Interiors Limited (Registered number: 09008769)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Triton Interiors Limited (Registered number: 09008769)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 22,751
DEPRECIATION
At 1 May 2023 13,092
Charge for year 2,419
At 30 April 2024 15,511
NET BOOK VALUE
At 30 April 2024 7,240
At 30 April 2023 9,659

6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 May 2023 950,000
Revaluations 50,000
At 30 April 2024 1,000,000
NET BOOK VALUE
At 30 April 2024 1,000,000
At 30 April 2023 950,000

Cost or valuation at 30 April 2024 is represented by:
£   
Valuation in 2021 61,969
Valuation in 2022 25,000
Valuation in 2024 50,000
Cost 863,031
1,000,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 863,031 863,031

Investment property was valued on an open market basis on 30 April 2024 by Mr Paul Duffy (Director) .

Triton Interiors Limited (Registered number: 09008769)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,519 3,829
Other debtors 1,135 1,228
2,654 5,057

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 19,680 14,115
Trade creditors 1,816 2,821
Amounts owed to group undertakings 629,350 629,350
Taxation and social security 16 303
Other creditors 1,114 1,117
651,976 647,706

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 270,530 276,436

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 191,811 219,977

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 290,210 290,551

On 20 April 2020, Monmouthshire Building Society secured a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

Triton Interiors Limited (Registered number: 09008769)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


11. RESERVES
Fair
value
reserve
£   
At 1 May 2023 67,836
Transfer between reserves 37,500

At 30 April 2024 105,336