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Registered number: 01667567
Trenton Construction Co. Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 01667567
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 274,729 137,575
274,729 137,575
CURRENT ASSETS
Stocks 5 58,366 190,529
Debtors 6 406,416 27,615
Cash at bank and in hand 472,425 785,133
937,207 1,003,277
Creditors: Amounts Falling Due Within One Year 7 (778,066 ) (527,691 )
NET CURRENT ASSETS (LIABILITIES) 159,141 475,586
TOTAL ASSETS LESS CURRENT LIABILITIES 433,870 613,161
Creditors: Amounts Falling Due After More Than One Year 8 (193,453 ) (63,935 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (61,000 ) (34,000 )
NET ASSETS 179,417 515,226
CAPITAL AND RESERVES
Called up share capital 11 103 103
Share premium account 19,497 19,497
Profit and Loss Account 159,817 495,626
SHAREHOLDERS' FUNDS 179,417 515,226
Page 1
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Robert Ian Rushton
Director
02/12/2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Trenton Construction Co. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01667567 . The registered office is 2 Marychurch Road, Bucknall, Stoke On Trent, ST2 9BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by a quantity surveyor and this valuation is submitted to the customer's architect for approval. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance and 25% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. The basic financial instruments of the company are as follows:

Debtors

Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Cash at bank and in hand

Ths comprises cash at bank and cash in hand.

Trade creditors

Trade creditors are not interest bearing and are stated at their nominal value.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 14)
18 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2023 14,224 229,356 14,453 258,033
Additions 2,900 225,391 421 228,712
As at 31 May 2024 17,124 454,747 14,874 486,745
Depreciation
As at 1 June 2023 13,281 95,535 11,642 120,458
Provided during the period 576 89,803 1,179 91,558
As at 31 May 2024 13,857 185,338 12,821 212,016
Net Book Value
As at 31 May 2024 3,267 269,409 2,053 274,729
As at 1 June 2023 943 133,821 2,811 137,575
5. Stocks
2024 2023
£ £
Materials 42,125 40,276
Work in progress 16,241 150,253
58,366 190,529
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 312,704 18,397
Prepayments and accrued income 9,016 4,243
Other debtors 641 641
Corporation tax recoverable assets 84,055 -
Directors' loan accounts - 4,334
406,416 27,615
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 65,506 29,704
Trade creditors 195,065 90,816
Corporation tax - 84,050
Other taxes and social security 78,774 16,695
VAT 242,871 229,758
Wages 5,549 4,565
Accruals and deferred income 190,024 71,825
Directors' loan accounts 277 278
778,066 527,691
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 193,453 63,935
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured on the relevant assets.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 258,959 93,639
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 65,506 29,704
Later than one year and not later than five years 193,453 63,935
258,959 93,639
258,959 93,639
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 103 103
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12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Alan Stocking 2,167 - 2,167 - -
Mr Saul Cliff 2,167 - 2,167 - -
The above loan is unsecured, interest free and repayable on demand.
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