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Registered number: 09614403
Trinam Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Trinam Limited for the year ended 31 May 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Trinam Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Trinam Limited , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Trinam Limited and state those matters that we have agreed to state to the directors of Trinam Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trinam Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Trinam Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Trinam Limited . You consider that Trinam Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Trinam Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
14 February 2025
Raven Accounting (West Midlands) Limited
Chartered Certified Accountants
9-11 Stratford Road
Shirley
Solihull
B90 3LU
Page 1
Page 2
Balance Sheet
Registered number: 09614403
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,205 -
Investment Properties 5 1,540,913 1,520,532
1,542,118 1,520,532
CURRENT ASSETS
Debtors 6 536 3,206
Cash at bank and in hand 484,509 246,227
485,045 249,433
Creditors: Amounts Falling Due Within One Year 7 (902,138 ) (609,962 )
NET CURRENT ASSETS (LIABILITIES) (417,093 ) (360,529 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,125,025 1,160,003
Creditors: Amounts Falling Due After More Than One Year 8 (390,185 ) (649,728 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,169 ) (15,772 )
NET ASSETS 713,671 494,503
CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 62,603 47,317
Profit and Loss Account 650,968 447,086
SHAREHOLDERS' FUNDS 713,671 494,503
Page 2
Page 3
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.
The financial statements were approved by the board of directors on 14 February 2025 and were signed on its behalf by:
Dr P Parekh
Director
Dr T K Ramcharan
Director
14 February 2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Trinam Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09614403 . The registered office is 11 Stratford Road Shirley, Solihull, West Midlands, B90 3LU.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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 comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Computer Equipment 20% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost or Valuation
As at 1 June 2023 -
Additions 1,398
As at 31 May 2024 1,398
Depreciation
As at 1 June 2023 -
Provided during the period 193
As at 31 May 2024 193
Net Book Value
As at 31 May 2024 1,205
As at 1 June 2023 -
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 1,520,532
Revaluations 20,381
As at 31 May 2024 1,540,913
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 1,457,443 1,457,443
The investment properties were valued on an open market basis basis on 31 May 2024 by the directors.
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 536 3,206
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,751 -
Bank loans and overdrafts 11,300 (236,713 )
Other creditors 820,427 805,618
Taxation and social security 68,660 41,057
902,138 609,962
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 390,185 649,728
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 340,260 352,278
9. Secured Creditors
The following are secured on two registered charges. One is secured by a floating charge over the assets of the company whilst the others are secured on the investment property purchased with their advance.
2024 2023
£ £
Bank loans and overdrafts 401,485 413,015
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 15,772 15,772
Deferred taxation 5,397 5,397
Balance at 31 May 2024 21,169 21,169
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
49 Ordinary A shares of £ 1 each 49 49
49 Ordinary B shares of £ 1 each 49 49
2 Ordinary C shares of £ 1 each 2 2
100 100
Page 6
Page 7
12. Reserves
Fair Value Reserve
£
As at 1 June 2023 47,317
Transfer to profit and loss 15,286
As at 31 May 2024 62,603
13. Related Party Transactions
During the year, total dividends of £1,000 (2023: £2,000) were paid to the directors.
The directors have provided unsecured, interest-free loans to the company, which are repayable on demand. As of the year-end, the outstanding balance was £819,269 (2023: £804,502)
Page 7