IRIS Accounts Production v25.1.0.734 05880688 director 1.8.23 31.7.24 31.7.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058806882023-07-31058806882024-07-31058806882023-08-012024-07-31058806882022-07-31058806882022-08-012023-07-31058806882023-07-3105880688ns15:EnglandWales2023-08-012024-07-3105880688ns14:PoundSterling2023-08-012024-07-3105880688ns10:Director12023-08-012024-07-3105880688ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3105880688ns10:SmallEntities2023-08-012024-07-3105880688ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3105880688ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3105880688ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3105880688ns10:FullAccounts2023-08-012024-07-310588068812023-08-012024-07-3105880688ns10:CompanySecretary12023-08-012024-07-3105880688ns10:RegisteredOffice2023-08-012024-07-3105880688ns5:CurrentFinancialInstruments2024-07-3105880688ns5:CurrentFinancialInstruments2023-07-3105880688ns5:Non-currentFinancialInstruments2024-07-3105880688ns5:Non-currentFinancialInstruments2023-07-3105880688ns5:ShareCapital2024-07-3105880688ns5:ShareCapital2023-07-3105880688ns5:SharePremium2024-07-3105880688ns5:SharePremium2023-07-3105880688ns5:CapitalRedemptionReserve2024-07-3105880688ns5:CapitalRedemptionReserve2023-07-3105880688ns5:RetainedEarningsAccumulatedLosses2024-07-3105880688ns5:RetainedEarningsAccumulatedLosses2023-07-3105880688ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3105880688ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-08-012024-07-3105880688ns5:ComputerEquipment2023-08-012024-07-3105880688ns5:IntangibleAssetsOtherThanGoodwill2023-07-3105880688ns5:IntangibleAssetsOtherThanGoodwill2024-07-3105880688ns5:IntangibleAssetsOtherThanGoodwill2023-07-3105880688ns5:PlantMachinery2023-07-3105880688ns5:PlantMachinery2023-08-012024-07-3105880688ns5:PlantMachinery2024-07-3105880688ns5:PlantMachinery2023-07-3105880688ns5:CostValuation2023-07-3105880688ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3105880688ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: 05880688 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Triopsis Limited

Triopsis Limited (Registered number: 05880688)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Triopsis Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: A J Hutt





SECRETARY: A J Hutt





REGISTERED OFFICE: c/o Wilson Partners Limited,
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN





REGISTERED NUMBER: 05880688 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Triopsis Limited (Registered number: 05880688)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 856,990 852,509
Tangible assets 5 6,317 10,747
Investments 6 1 1
863,308 863,257

CURRENT ASSETS
Debtors 7 229,935 351,182
Cash at bank 250,688 139,279
480,623 490,461
CREDITORS
Amounts falling due within one year 8 (442,052 ) (389,053 )
NET CURRENT ASSETS 38,571 101,408
TOTAL ASSETS LESS CURRENT LIABILITIES 901,879 964,665

CREDITORS
Amounts falling due after more than one year 9 (111,576 ) (195,693 )

PROVISIONS FOR LIABILITIES (1,580 ) (2,687 )
NET ASSETS 788,723 766,285

CAPITAL AND RESERVES
Called up share capital 136,004 136,004
Share premium 107,345 107,345
Capital redemption reserve 28,849 28,849
Retained earnings 516,525 494,087
788,723 766,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Triopsis Limited (Registered number: 05880688)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2025 and were signed by:





A J Hutt - Director


Triopsis Limited (Registered number: 05880688)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Triopsis Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover
Turnover represents revenue from software subscription fee income, support and maintenance income and services income. The turnover of the Company was generated from its principal activity and arose wholly within the United Kingdom.

Software subscription fee income is recognised over the period of the subscription. Support and maintenance income is deferred at the date of invoicing and released to the profit and loss account over the duration of the maintenance contracts. Income not released to the profit and loss account is carried in the balance sheet in deferred revenue. Services income is recognised in the month the services are performed.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.


Triopsis Limited (Registered number: 05880688)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 software development directly associated with on-going revenue streams is capitalised and amortised over 5 years. Other research and development is expensed in the year in which it is incurred.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 11 ) .

Triopsis Limited (Registered number: 05880688)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023 1,119,084
Additions 244,434
At 31 July 2024 1,363,518
AMORTISATION
At 1 August 2023 266,575
Charge for year 239,953
At 31 July 2024 506,528
NET BOOK VALUE
At 31 July 2024 856,990
At 31 July 2023 852,509

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 44,599
Additions 3,060
At 31 July 2024 47,659
DEPRECIATION
At 1 August 2023 33,852
Charge for year 7,490
At 31 July 2024 41,342
NET BOOK VALUE
At 31 July 2024 6,317
At 31 July 2023 10,747

Triopsis Limited (Registered number: 05880688)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 August 2023
and 31 July 2024 1
NET BOOK VALUE
At 31 July 2024 1
At 31 July 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 185,490 245,675
Other debtors 44,445 105,507
229,935 351,182

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 84,121 76,220
Trade creditors 33,466 18,389
Taxation and social security 73,928 74,450
Other creditors 250,537 219,994
442,052 389,053

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 111,576 195,693

10. ULTIMATE CONTROLLING PARTY

The controlling party is A J Hutt.

11. FACTORS AFFECTING FUTURE TAX CHARGE

The company has tax losses of £0 (31 July 2023: £8,595) available to offset against future trading profits.