Company registration number 09648273 (England and Wales)
TROY COMPANIES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TROY COMPANIES LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,430
8,811
Current assets
Debtors
5
84,134
21,956
Cash at bank and in hand
64,847
109,931
148,981
131,887
Creditors: amounts falling due within one year
6
(916,691)
(475,583)
Net current liabilities
(767,710)
(343,696)
Net liabilities
(760,280)
(334,885)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(760,380)
(334,985)
Total equity
(760,280)
(334,885)
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 10 February 2025 and are signed on its behalf by:
Mr J M S Huiberts
Director
Company Registration No. 09648273
TROY COMPANIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Troy Companies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Office 4, Hope Park Workspaces, 16 Carolina Way, Salford, United Kingdom, M50 2ZY.
1.1
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.
1.2
Going concern
The company has made a loss in 2024, as anticipated, as it continues to incur costs relating to the recommencement of full trading in the UK.true
The company continues to receive financial support from fellow group undertaikings, which has been confirmed at the date of approval of these financial statements.
On the basis this financial support will continue, the directors consider it appropriate to prepare the financial statements on a going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Fixtures and fittings
20% straight line
1.4
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.
1.5
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
TROY COMPANIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
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.
In the opinion of the directors' there are no key judgements or estimates.
3
Employees
The average monthly number of persons employed by the company during the year was:
2024
2023
Number
Number
Total
4
2
TROY COMPANIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2024
1,094
8,861
9,955
Additions
620
620
At 31 December 2024
1,094
9,481
10,575
Depreciation and impairment
At 1 January 2024
164
980
1,144
Depreciation charged in the year
219
1,782
2,001
At 31 December 2024
383
2,762
3,145
Carrying amount
At 31 December 2024
711
6,719
7,430
At 31 December 2023
930
7,881
8,811
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,551
Other debtors
84,134
18,405
84,134
21,956
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
39,071
14,735
Amounts owed to group undertakings
860,814
440,244
Taxation and social security
3,806
5,383
Other creditors
13,000
15,221
916,691
475,583
TROY COMPANIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
7
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:
Jonathan Ward
Statutory Auditor:
Azets Audit Services
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
35,000
5,313
9
Related party transactions
The company has taken advantage of the exemption within FRS 102 Section 33.1A from the requirements to disclose transactions with other wholly owned companies within the same group.
All related party transactions are under the normal course of business.
10
Parent company
The parent of the smallest group in which this company's results are consolidated is The Cookie Company Group B.V., incorporated in the Netherlands. The parent of the largest group in which this company's results are consolidated, and the ultimate parent company, is Troy Companies B.V., incorporated in the Netherlands. The registered office is Stadionlaan 155, 5246JT Rosmalen, Netherlands.