REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
TRICOGEN LABORATORIES LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
TRICOGEN LABORATORIES LIMITED |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
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 |
TRICOGEN LABORATORIES LIMITED |
Company Information |
for the year ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
31-33 Victoria Road |
Darlington |
Co. Durham |
DL1 5SB |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
Notes to the Financial Statements |
for the year ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Tricogen Laboratories Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Tricogen Laboratories Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover 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 |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Enhanced tax relief claims are recognised at the balance sheet date if the directors consider that the amount and expectation of success can be reasonably foreseen. |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for selected employees.Contributions payable for the year are charged in the profit and loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Cost or valuation at 30 April 2024 is represented by: |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Valuation in 1998 | 250,000 | - | - |
Cost | 665,069 | 2,373,606 | 106,967 |
915,069 | 2,373,606 | 106,967 |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 1998 | - | - | 250,000 |
Cost | 122,722 | 51,308 | 3,319,672 |
122,722 | 51,308 | 3,569,672 |
If Freehold property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 889,871 | 889,871 |
Aggregate depreciation | 258,618 | 250,817 |
Value of land in freehold land and buildings | 36,252 | 36,252 |
Freehold land and buildings were valued on an open market basis basis on 23 January 1998 by Sanderson Townend & Gilbert. . |
The net book value of tangible fixed assets includes £ 65,299 (2023 - £ 136,560 ) in respect of assets held under hire purchase contracts. |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
and 30 April 2024 | 24,980 |
NET BOOK VALUE |
At 30 April 2024 | 24,980 |
At 30 April 2023 | 24,980 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdraft |
Hire purchase contracts | 54,627 | 118,121 |
Bank loans | - | 251,401 |
The bank indebtedness security includes an unlimited cross guarantee with Ray & Company (Hairdressers Sundriesmen) Limited. |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 May 2023 |
and 30 April 2024 |
TRICOGEN LABORATORIES LIMITED (REGISTERED NUMBER: 00467609) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2024 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |