Tri Control Systems Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01902501

Tri Control Systems Limited

Filleted Unaudited Financial Statements

31 October 2024

Tri Control Systems Limited

Statement of Financial Position

31 October 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		1,091,753	1,109,688

Current assets

Debtors	7	629,179	711,157
Cash at bank and in hand		302,423	261,294
		---------	---------
		931,602	972,451

Creditors: amounts falling due within one year	8	( 459,528)		( 517,405)
		---------		---------
Net current assets			472,074	455,046
			------------	------------
Total assets less current liabilities			1,563,827	1,564,734

Provisions

Taxation including deferred tax	( 97,539)	( 97,539)
	------------	------------
Net assets	1,466,288	1,467,195
	------------	------------

Tri Control Systems Limited

Statement of Financial Position (continued)

31 October 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	600	600
Revaluation reserve	489,649	489,649
Capital redemption reserve	300	300
Profit and loss account	975,739	976,646
	------------	------------
Shareholders funds	1,466,288	1,467,195
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 May 2025 , and are signed on behalf of the board by:

R Nutkins

Director

Company registration number: 01902501

Tri Control Systems Limited

Notes to the Financial Statements

Year ended 31 October 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Colham Green House, Colham Green Road, Uxbridge, Middlesex, UB8 3QQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions: * deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Intangible assets

Development expenditure relating to the computer software project is capitalised as an intangible fixed asset when the costs are invoiced to the company, together with a proportion of internal labour costs for the year. The costs are amortised over the useful economic life of the asset so as to match the expenditure with the anticipated revenue.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	1% per annum
Fixtures and Fittings	-	20% reducing balance
Motor Vehicles	-	25% reducing balance

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

The company operates a money purchase pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 22 (2023: 24 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 November 2023 and 31 October 2024	258,212
	---------
Amortisation
At 1 November 2023 and 31 October 2024	258,212
	---------
Carrying amount
At 31 October 2024	–
	---------
At 31 October 2023	–
	---------

6. Tangible assets

	Freehold property	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 November 2023	1,044,189	69,851	240,318	1,354,358
Additions	–	10,530	22,500	33,030
	------------	--------	---------	------------
At 31 October 2024	1,044,189	80,381	262,818	1,387,388
	------------	--------	---------	------------
Depreciation
At 1 November 2023	70,392	46,170	128,108	244,670
Charge for the year	10,442	6,845	33,678	50,965
	------------	--------	---------	------------
At 31 October 2024	80,834	53,015	161,786	295,635
	------------	--------	---------	------------
Carrying amount
At 31 October 2024	963,355	27,366	101,032	1,091,753
	------------	--------	---------	------------
At 31 October 2023	973,797	23,681	112,210	1,109,688
	------------	--------	---------	------------

Tangible assets held at valuation

The freehold property historical cost is £480,410, but in the opinion of the directors the market value at 31st October 2024 was £963,355.

7. Debtors

	2024	2023
	£	£
Trade debtors	609,969	620,646
Prepayments and accrued income	19,210	12,545
Directors loan account	–	19,327
Tax recoverable	–	58,639
	---------	---------
	629,179	711,157
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	55,975	–
Trade creditors	279,083	273,897
Accruals and deferred income	18,295	44,744
Corporation tax	8,776	113,495
Social security and other taxes	77,560	48,262
Director loan accounts	3,412	–
Other creditors	16,427	37,007
	---------	---------
	459,528	517,405
	---------	---------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
R Nutkins	25,469	47,263	( 74,526)	( 1,794)
Mrs H.J Nutkins	( 6,142)	48,627	( 44,103)	( 1,618)
	--------	--------	---------	-------
	19,327	95,890	( 118,629)	( 3,412)
	--------	--------	---------	-------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
R Nutkins	32,622	76,519	( 83,672)	25,469
Mrs H.J Nutkins	4,385	75,605	( 86,132)	( 6,142)
	--------	---------	---------	--------
	37,007	152,124	( 169,804)	19,327
	--------	---------	---------	--------