Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| 13,257 | 12,211 | |||
| Current assets | ||||
| Stocks |
|
|
||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 639,304 | 352,443 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current liabilities | (857,600) | (538,334) | ||
| Total assets less current liabilities | (844,343) | (526,123) | ||
| Net liabilities | (
|
(
|
||
| Capital and reserves | ||||
| Called-up share capital |
|
|
||
| Other reserves |
|
|
||
| Profit and loss account | (
|
(
|
||
| Total shareholders' deficit | (
|
(
|
Directors' responsibilities:
The financial statements of Trinity Pharma Ltd (registered number:
|
Dr Mark Andrew Kinghan
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Trinity Pharma Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Castlegate Pharmacy Cockermouth Community Hospital And Health Centre, Isel Road, Cockermouth, CA13 9HT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company has net liabilities at 31 March 2024 and meets its day to day working capital requirements through credit offered by its trade creditors, the largest of which is an entity where the directors hold an interest. On the basis that this support has been confirmed for the next 12 months, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
| Vehicles |
|
| Fixtures and fittings |
|
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.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Vehicles | Fixtures and fittings | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 April 2023 |
|
|
|
||
| Additions |
|
|
|
||
| Disposals | (
|
(
|
(
|
||
| At 31 March 2024 |
|
|
|
||
| Accumulated depreciation | |||||
| At 01 April 2023 |
|
|
|
||
| Charge for the financial year |
|
|
|
||
| Disposals | (
|
|
(
|
||
| At 31 March 2024 |
|
|
|
||
| Net book value | |||||
| At 31 March 2024 |
|
|
|
||
| At 31 March 2023 |
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
|
|
|
| Other taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
During last year we were made aware of some mismanagement and fraud within the company. Investigations are on-going and where possible estimates of amounts to be repaid have been included in the accounts. If any further figures come to light, following the investigations, we will amend the accounts via a prior year adjustment.