ACCOUNTS - Final Accounts preparation

Registered number: 12425552

TRUST ELECTRONICS LTD

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2025

TWP Accounting LLP

Chartered Accountants & Statutory Auditors

The Old Rectory

Church Street

Weybridge

Surrey

KT13 8DE

TRUST ELECTRONICS LTD

REGISTERED NUMBER: 12425552

BALANCE SHEET

AS AT 30 JUNE 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	150,253		209,078
Cash at bank and in hand	6	701,157		541,934
		851,410		751,012
Creditors: amounts falling due within one year	7	(226,274)		(228,363)
Net current assets			625,136		522,649
Total assets less current liabilities			625,136		522,649

Net assets			625,136		522,649

Capital and reserves
Called up share capital		1	1
Profit and loss account	9	625,135	522,648
		625,136	522,649

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2025.

M Vujovich

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

TRUST ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1.	General information

Trust Electronics Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Old Rectory, Church Street, Weybridge, England, KT13 8DE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Turnover

Turnover represents income generated within the terms of the cost-plus agreement with a fellow subsidiary.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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TRUST ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

				Plant and machinery	-	1	years
				Office equipment	-	5	years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

TRUST ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Operating leases: the Company as lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Employees

The average monthly number of employees, including directors, during the year was 8 (2024 - 6).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 July 2024	6,788
	At 30 June 2025	6,788
	Depreciation
	At 1 July 2024	6,788
	At 30 June 2025	6,788
	Net book value
	At 30 June 2025	-
	At 30 June 2024	-

Page 4

TRUST ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Debtors

					2025	2024
					£	£


Other debtors	11,734	9,582
Prepayments and accrued income	138,519	199,496
	150,253	209,078

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	701,157	541,934
	701,157	541,934

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	20,015	12,812
Amounts owed to group undertakings	95,371	12,898
Corporation tax	6,234	1,595
Other taxation and social security	15,663	19,766
Other creditors	548	4,297
Accruals and deferred income	88,443	176,995
	226,274	228,363

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary shares share of £1.00	1	1

Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of any adjustments.

Page 5

TRUST ELECTRONICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

10.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £38,860 (2024 - £25,380). Pension contibutions amounting to £548 (2024 - £4,297) were payable to the fund at the balance sheet date.

11.	Related party transactions
	The Company has taken advantage of the exemption available under paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertakings of the group.

12.	Controlling party

The immediate parent undertaking is Trust Holding BV, a company incorporated in Netherlands.
The parent company of the smallest group for which consolidated financial statements are drawn up is GXT Holding BV. The address of their office is Laan Van Barcelona 600 Dordrecht, 3317 DD Netherlands.
The ultimate parent undertaking is Egeria Group AG, a company incorporated in Switzerland. The address of their office is Baarerstrasse 53, 6300 Zug, Switzerland.
There is no ultimate controlling party.

13.	Auditor's information

The auditor's report on the financial statements for the year ended 30 June 2025 was unqualified.

The audit report was signed on 19 September 2025 by Philip Munk FCA FCCA (Senior Statutory Auditor) on behalf of TWP Accounting LLP.

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. The audit work has been undertaken so that Auditors' might state to the company’s members those matters the Auditors' are required to state in an auditor’s report and for no other purpose. To the fullest extent permitted by law, TWP Accounting LLP will not accept or assume responsibility to anyone other than the company and the company’s members as a body, for the audit work, for the Independent Auditors' Report, or for the opinions formed.

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