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REGISTERED NUMBER: 10084673 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Trident Norwich Limited

Trident Norwich Limited (Registered number: 10084673)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Trident Norwich Limited (Registered number: 10084673)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £ £
Fixed assets
Tangible assets 5 3,230 2,930
Investment property 6 1,072,500 1,093,000
1,075,730 1,095,930

Current assets
Debtors 7 1,523 202
Cash at bank 8,842 49,920
10,365 50,122
Creditors
Amounts falling due within one year 8 (263,857 ) (305,936 )
Net current liabilities (253,492 ) (255,814 )
Total assets less current liabilities 822,238 840,116

Creditors
Amounts falling due after more than one
year

9

(761,410

)

(757,417

)

Provisions for liabilities (10,206 ) (15,299 )
Net assets 50,622 67,400

Capital and reserves
Called up share capital 300 300
Revaluation reserve 11 37,766 58,266
Retained earnings 12,556 8,834
50,622 67,400

Trident Norwich Limited (Registered number: 10084673)

Balance Sheet - continued
31 August 2024


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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:





Dr S Saravanavel - Director


Trident Norwich Limited (Registered number: 10084673)

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


1. Statutory information

Trident Norwich Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10084673

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention or historic cost modified by revaluation of financial assets and financial liabilities held at fair value through profit and loss, except for the financial instruments that are measured at their fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

The principal accounting policies adopted are set out below. All accounting policies have been applied consistently, other than where new policies have been adopted.

Going Concern
The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future and have therefore accordingly prepared these financial statements on a going concern basis.

Trident Norwich Limited (Registered number: 10084673)

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


3. Accounting policies - continued

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i)Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful
economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See notes to the accounts for the carrying amount of tangible assets and the useful economic lives for each class of assets.

(ii)Fair value revaluation of investment properties

The company holds investment properties at fair value, which is deemed to be the market value at the reporting date. The directors ascertain the market value based on similar properties available in the area and take account of current property market conditions.

(iii)Taxation

The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with the previous tax audits and differing interpretations of tax regulations by the taxable entity and the responsible tax authority.

Turnover
Turnover is generated through rental income received on investment properties held by the company. It is measured by pre-agreed annual rent stipulated in tenancy agreements and is recognised on a monthly basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - 20% p.a. reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Trident Norwich Limited (Registered number: 10084673)

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


3. Accounting policies - continued

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property held is subsequently shown at fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Trident Norwich Limited (Registered number: 10084673)

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


3. 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.

Tax and revaluation reserve
Where investment properties have been subject to revaluation, deferred tax is recognised on the timing differences resulting from the fair value movement and is calculated using the enacted tax rates. The deferred tax treatment follows the presentation of the related transaction.

On revaluation of investment properties, the gains on revaluation have been included in the revaluation reserve. A deferred tax liability is recognised and transferred to the revaluation reserve within equity and reported through other comprehensive income. On reversal of revalued amounts, the deferred tax liability is reduced and credited to the revaluation reserve.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

Trident Norwich Limited (Registered number: 10084673)

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


5. Tangible fixed assets
Office
equipment
£
Cost
At 1 September 2023 4,602
Additions 1,109
At 31 August 2024 5,711
Depreciation
At 1 September 2023 1,672
Charge for year 809
At 31 August 2024 2,481
Net book value
At 31 August 2024 3,230
At 31 August 2023 2,930

6. Investment property
Total
£
Fair value
At 1 September 2023 1,093,000
Revaluations (20,500 )
At 31 August 2024 1,072,500
Net book value
At 31 August 2024 1,072,500
At 31 August 2023 1,093,000

Investment properties are held at fair value which is deemed to be their market value based on market conditions and similar properties in the locality. The value is ascertained by the directors at each balance sheet date.

Fair value at 31 August 2024 is represented by:

£   
Valuation as at 31 August 2023 1,093,000
Current year changes in fair value (20,500 )
Value as at 31 August 2024 1,072,500


Trident Norwich Limited (Registered number: 10084673)

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


7. Debtors: amounts falling due within one year
31.8.24 31.8.23
£ £
Other debtors 1,523 202

8. Creditors: amounts falling due within one year
31.8.24 31.8.23
£ £
Trade creditors 161 -
Taxation and social security - 3,570
Other creditors 263,696 302,366
263,857 305,936

9. Creditors: amounts falling due after more than one year
31.8.24 31.8.23
£ £
Bank loans 761,410 757,417

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 761,410 757,417

10. Secured debts

The following secured debts are included within creditors:

31.8.24 31.8.23
£ £
Bank loans 761,410 757,417

Security has been provided in respect of the bank loans, by way of a fixed charge over the property in which the loans were used to purchase.

Trident Norwich Limited (Registered number: 10084673)

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


11. Reserves
Revaluation
reserve
£
At 1 September 2023 58,266
Revaluation reserve (20,500 )

At 31 August 2024 37,766

Retained earnings - This reserve records distributable retained earnings and accumulated losses, net of dividends paid.

Fair value reserve - This reserve records the value of the gains and losses on the revaluation of investment properties, which are non-distributable.

12. Related party disclosures

No transactions were undertaken with directors or related parties such as are required to be disclosed under the Financial Reporting Standard 102, Section 1A.