Registered number
04733956
Trustworth Group Limited
Filleted Accounts
31 May 2024
Trustworth Group Limited
Registered number: 04733956
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 818 5,867
Investments 4 2 2
820 5,869
Current assets
Debtors 5 2,666,940 2,184,438
Cash at bank and in hand 618,484 890,528
3,285,424 3,074,966
Creditors: amounts falling due within one year 6 (2,761,412) (2,329,486)
Net current assets 524,012 745,480
Net assets 524,832 751,349
Capital and reserves
Called up share capital 100 100
Profit and loss account 524,732 751,249
Shareholders' funds 524,832 751,349
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M K Gamiet
Director
Approved by the board on 27 February 2025
Trustworth Group Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable and includes revenue earned from the rendering of services recognised by reference to the value provided during the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehciles 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 31,536 56,615 88,151
Disposals - (56,615) (56,615)
At 31 May 2024 31,536 - 31,536
Depreciation
At 1 June 2023 30,718 51,566 82,284
On disposals - (51,566) (51,566)
At 31 May 2024 30,718 - 30,718
Net book value
At 31 May 2024 818 - 818
At 31 May 2023 818 5,049 5,867
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 June 2023 2
At 31 May 2024 2
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 970,393 952,393
Other debtors 1,696,547 1,232,045
2,666,940 2,184,438
6 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2,754,156 2,310,949
Taxation and social security costs 3,084 14,280
Other creditors 4,172 4,257
2,761,412 2,329,486
7 Other information
Trustworth Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
140 High Steet
Iver
Berks
SL0 9QA
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