Company registration number 09494859 (England and Wales)
CURZON TRINITAS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CURZON TRINITAS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
4 - 7
CURZON TRINITAS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
616,667
986,667
Tangible assets
4
9,735
8,079
626,402
994,746
Current assets
Debtors
5
696,926
371,497
Cash at bank and in hand
1,161,365
1,558,654
1,858,291
1,930,151
Creditors: amounts falling due within one year
6
(427,778)
(348,014)
Net current assets
1,430,513
1,582,137
Total assets less current liabilities
2,056,915
2,576,883
Creditors: amounts falling due after more than one year
7
(355,231)
(658,256)
Provisions for liabilities
(2,434)
(2,020)
Net assets
1,699,250
1,916,607
Capital and reserves
Called up share capital
644,211
1,243,422
Capital redemption reserve
50,832
35,248
Profit and loss reserves
1,004,207
637,937
Total equity
1,699,250
1,916,607
CURZON TRINITAS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
For the financial year ended 30 September 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 22 May 2025 and are signed on its behalf by:
..............................................
Mr R J Golding
Director
Company registration number 09494859 (England and Wales)
CURZON TRINITAS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 October 2022
1,258,422
20,248
1,114,691
2,393,361
Year ended 30 September 2023:
Profit and total comprehensive income
-
-
222,460
222,460
Dividends
-
-
(684,214)
(684,214)
Purchase of own share capital
(15,000)
-
(15,000)
(30,000)
Other movements
-
15,000
-
15,000
Balance at 30 September 2023
1,243,422
35,248
637,937
1,916,607
Year ended 30 September 2024:
Profit and total comprehensive income
-
-
235,149
235,149
Dividends
-
-
(436,922)
(436,922)
Purchase of own share capital
(15,584)
15,584
(15,584)
(15,584)
Reduction of shares
(583,627)
-
583,627
Balance at 30 September 2024
644,211
50,832
1,004,207
1,699,250
CURZON TRINITAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
Curzon Trinitas Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 North Audley Street, London, England, W1K 6WE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
CURZON TRINITAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% Reducing balance
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
9
10
CURZON TRINITAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
3,700,000
Amortisation and impairment
At 1 October 2023
2,713,333
Amortisation charged for the year
370,000
At 30 September 2024
3,083,333
Carrying amount
At 30 September 2024
616,667
At 30 September 2023
986,667
4
Tangible fixed assets
Computers
£
Cost
At 1 October 2023
35,241
Additions
4,904
At 30 September 2024
40,145
Depreciation and impairment
At 1 October 2023
27,162
Depreciation charged in the year
3,248
At 30 September 2024
30,410
Carrying amount
At 30 September 2024
9,735
At 30 September 2023
8,079
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
352,091
168,400
Other debtors
344,835
203,097
696,926
371,497
CURZON TRINITAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
25,029
50,213
Corporation tax
204,173
174,894
Other creditors
198,576
122,907
427,778
348,014
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
355,231
658,256
8
Financial commitments, guarantees and contingent liabilities
Contingent rents recognised as income in the year amount to £107,8400 (2023 £115,0000).
9
Directors' transactions
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr C G Campbell - Loan
-
430,629
(216,176)
214,453
Mr R J Golding - Loan
159,647
316,958
(393,460)
83,145
159,647
747,587
(609,636)
297,598
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr G J Golding - Loan
85,000
310,003
(235,356)
159,647
85,000
310,003
235,356
159,647
The above loan is unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis. The loan was repaid shortly after the year end.