Trimselter Limited is a private company limited by shares incorporated in England and Wales. The registered office is Newfield Close, Walsall, West Midlands, United Kingdom, WS2 7PB.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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 company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the company during the year was:
Details of the company's subsidiaries at 30 September 2024 are as follows:
At 30 September 2024, there was an amount due from Trimselter Holdings Limited, the parent company, in the sum of £1,794,626 (2023 - £1,695,706).
During the year, the company has entered into transactions, on normal commercial terms, with Samuel Wilkes (Engineering) Limited, a subsidiary and a company in which Mrs J Williams is a director, as follows:
Recharges to:-
Rent receivable of £30,000 (2023 - £30,000)
Management charge income of £58,800 (2023 - £58,800)
Insurance recharge of £17,151 (2023 - £12,803)
At 30 September 2024, there was an amount owed to Samuel Wilkes (Engineering) Limited, in the sum of £220,600 (2023 - £120,600).
Included in trade debtors is £nil (2023 - £nil) which is owed to the company by Samuel Wilkes (Engineering) Limited.
Also during the year, the company has entered into transactions, on normal commercial terms, with Wilkes Security Products Limited, a subsidiary and a company in which Mrs J Williams is a director, as follows:
Recharges to:-
Management charges of £24,000 (2023 - £24,000)
Rent receivable of £16,200 (2023 - £16,850)
Insurance recharge of £2,993 (2023 - £3,225)
Rates £nil (2023 - £nil)
Water rates and charges of £nil (2023 - £90)
Included in trade debtors is £nil (2023 - £nil) which is owed to the company by Wilkes Security Products Limited.
Included in amounts owed by group undertakings is £nil (2023 - £nil) which is owed to the company by Wilkes Security Products Limited.
Also during the year, the company has entered into transactions, on normal commercial terms, with Stancroft Limited, a company in which Mrs J Williams is the sole director, as follows:
Recharges to:-
Insurance recharge of £2,092 (2023 - £1,955)
At 30 September 2024 there was an amount due to Stancroft Limited, in the sum of £179,616 (2023 - £179,616).