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Registration number: 03209046

Trident Electrical Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Trident Electrical Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Trident Electrical Services Limited

(Registration number: 03209046)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

417,572

468,885

Current assets

 

Debtors

5

1,839,248

1,734,316

Cash at bank and in hand

 

42,206

1,315

 

1,881,454

1,735,631

Creditors: Amounts falling due within one year

6

(1,095,301)

(1,081,464)

Net current assets

 

786,153

654,167

Total assets less current liabilities

 

1,203,725

1,123,052

Creditors: Amounts falling due after more than one year

6

-

(68,750)

Provisions for liabilities

(101,978)

(114,278)

Net assets

 

1,101,747

940,024

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,101,647

939,924

Shareholders' funds

 

1,101,747

940,024

 

Trident Electrical Services Limited

(Registration number: 03209046)
Balance Sheet as at 31 May 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 February 2025 and signed on its behalf by:
 

......................

Gary Andrew Bedford
Director

 

Trident Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
19 Smeaton Road
Portway West Business Park
Andover
Hants
SP10 3LF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Trident Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 79 (2023 - 83).

 

Trident Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Fixtures, fittings and equipment
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

67,670

1,215,223

1,282,893

Additions

-

76,615

76,615

At 31 May 2024

67,670

1,291,838

1,359,508

Depreciation

At 1 June 2023

61,056

752,952

814,008

Charge for the year

1,654

126,274

127,928

At 31 May 2024

62,710

879,226

941,936

Carrying amount

At 31 May 2024

4,960

412,612

417,572

At 31 May 2023

6,614

462,271

468,885

 

Trident Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,655,533

1,524,824

Amounts owed by related parties

9

54,604

69,675

Prepayments

 

75,920

73,788

Other debtors

 

53,191

66,029

   

1,839,248

1,734,316

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

197,195

217,925

Trade creditors

 

490,331

457,832

Taxation and social security

 

144,348

205,618

Other creditors

 

263,427

200,089

 

1,095,301

1,081,464

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

-

68,750

 

Trident Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

68,750

75,000

Bank overdrafts

128,445

142,925

197,195

217,925

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

68,750

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £431,347 (2023 - £453,675).

9

Related party transactions

Transactions with directors

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Grant Andrew Bedford

Director loan account

5,663

25,000

(35,500)

(4,837)

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Grant Andrew Bedford

Director loan account

7,807

11,356

(13,500)

5,663

Other transactions with directors

During the year the remaining directors had loan accounts with the company. At the year end the balance due to the directors was £186,607 (2023 - £152,805). No interest was charged.

 

Trident Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Summary of transactions with other related parties

Company employees received loans from the company (repayable on demand). At the balance sheet date the amount due to the company was £8,375 (2023: £11,125).

The sister of a director received a loan from the company during the period. At the balance sheet date the amount due to the company was £9,800 (2023: nil).

Trident Facilities Management Limited (a company with common directors and shareholders) had a loan with the company. At the balance sheet date the amount due from Trident Facilities Management Limited was £54,604 (2023: £69,675).