Company registration number 12319023 (England and Wales)
313 TRUST CORPORATION LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
313 TRUST CORPORATION LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
313 TRUST CORPORATION LTD
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
Fixed assets
Investment properties
4
220,000
215,000
Creditors: amounts falling due after more than one year
5
(333,165)
(333,165)
Net liabilities
(113,165)
(118,165)
Reserves
Income and expenditure account
(113,165)
(118,165)
Members' funds
(113,165)
(118,165)

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

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 financial statements were approved by the board of directors and authorised for issue on 8 September 2025 and are signed on its behalf by:
Mr A Walji
Director
Company Registration No. 12319023
313 TRUST CORPORATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

313 Trust Corporation Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Burton Street, Peterborough, PE1 5HD.

1.1
Basis of preparation

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 a mounts 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 investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of The Muslim Khoja Shia Ithna-Asheri Community of Peterborough. These consolidated financial statements are available from its registered office.

1.2
Going concern

The company had net liabilities at the end of the accounting period under review. This has arisen solely due to revaluation losses on investment property, which are recognised in the income and expenditure account. In the opinion of the Directors, the company will be supported by the charity on whose behalf it operates. A true t the time of approving the financial statements, the Directors have a reasonable expectation that the company has access to adequate resources to continue in operational existence for the foreseeable future. On the basis of recent market trends, the fair value of the investment property is expected to increase in the future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Income and expenditure

Income and expenses are recognised on an accruals basis when the company receives substantially all the risks and rewards of ownership. Expenses include VAT where applicable as the company cannot reclaim it.

313 TRUST CORPORATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised within the income statement and form part of the surplus or deficit for the financial year.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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.

Classification of financial liabilities

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

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 paymen ts 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. A m ounts 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.

1.7
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

313 TRUST CORPORATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The fair value of investment properties is subject to estimation uncertainty. All 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.

3
Employees

The average monthly number of persons employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Investment property
2025
£
Fair value
At 1 April 2024
215,000
Revaluations
5,000
At 31 March 2025
220,000
313 TRUST CORPORATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4
Investment property
(Continued)
- 5 -

Investment property comprises freehold property held for rental and capital appreciation on behalf of the Charity (The Muslim Khoja Shia Ithna-Asheri Community of Peterborough). The methodology used to determine fair value is to obtain market evidence from an independent valuer with recent experience in valuing investment property. The fair value at 31 March 2025 is based on an external RICS valuation made by an independent Chartered Surveyor as at 31 March 2025, on an open market value basis.

No tax charge is expected to crystallise if the investment property were sold due to the available tax exemptions and the nature of the company. Accordingly, there are no material timing differences between the treatment for accounts purposes and the treatment for tax purposes therefore no deferred taxation has been provided.

5
Creditors: amounts falling due after more than one year
2025
2024
£
£
Amounts owed to group undertakings
333,165
333,165
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
333,165
333,165
6
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its surplus for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Mohamedkazim Bhaloo
Statutory Auditor:
Deitch Cooper LLP
Date of audit report:
8 September 2025
313 TRUST CORPORATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
8
Related party transactions

Included within creditors due after more than one year are amounts payable of £333,165 (2023: £333,165) to The Muslim Khoja Shia Ithna-Asheri Community of Peterborough, a charity registered in the UK, whose trustees are also the directors of the Company.

9
Ultimate controlling party

The ultimate controlling party is considered to be The Muslim Khoja Shia Ithna-Asheri Community of Peterborough, a UK registered charity whose principal place of business is 4 Burton Street, Peterborough, PE1 5HD. The company is consolidated within the group accounts of this charity, which are available from the Charity Commission.

2025-03-31 2024-04-01 false false false 08 September 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr N Virji Mr A Walji S A Jaffer M A A Karim 12319023 2024-04-01 2025-03-31 12319023 2025-03-31 12319023 2024-03-31 12319023 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 12319023 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12319023 core:RetainedEarningsAccumulatedLosses 2025-03-31 12319023 core:RetainedEarningsAccumulatedLosses 2024-03-31 12319023 bus:Director2 2024-04-01 2025-03-31 12319023 2023-04-01 2024-03-31 12319023 2024-03-31 12319023 core:Non-currentFinancialInstruments 2025-03-31 12319023 core:Non-currentFinancialInstruments 2024-03-31 12319023 bus:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 12319023 bus:FRS102 2024-04-01 2025-03-31 12319023 bus:Audited 2024-04-01 2025-03-31 12319023 bus:Director1 2024-04-01 2025-03-31 12319023 bus:Director3 2024-04-01 2025-03-31 12319023 bus:Director4 2024-04-01 2025-03-31 12319023 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12319023 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP