TRS (Worldwide) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07538027 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

TRS (Worldwide) Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

B G Stevens

M J Westwood

D Westwood

E Fitzsimmons

K C Wybrow

P V Burns

REGISTERED OFFICE:

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

REGISTERED NUMBER:

07538027 (England and Wales)

ACCOUNTANTS:

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TRS (Worldwide) Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of TRS (Worldwide) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TRS (Worldwide) Limited and state those matters that we have agreed to state to the Board of Directors of TRS (Worldwide) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TRS (Worldwide) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that TRS (Worldwide) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TRS (Worldwide) Limited. You consider that TRS (Worldwide) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TRS (Worldwide) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

22 September 2025

FIXED ASSETS

Tangible assets

4

4,157

6,105

CURRENT ASSETS

Debtors

5

471,689

410,451

CREDITORS

Amounts falling due within one year

6

293,881

248,897

NET CURRENT ASSETS

177,808

161,554

TOTAL ASSETS LESS CURRENT
LIABILITIES

181,965

167,659

CREDITORS

Amounts falling due after more than one
year

7

159,344

174,930

NET ASSETS/(LIABILITIES)

22,621

(7,271

)

CAPITAL AND RESERVES

Called up share capital

101

Retained earnings

22,520

(7,372

)

SHAREHOLDERS' FUNDS

22,621

(7,271

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

M J Westwood - Director

1.	STATUTORY INFORMATION

TRS (Worldwide) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalized in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

and 31 December 2024

6,340

17,350

10,031

33,721

DEPRECIATION

At 1 January 2024

6,340

11,975

9,301

27,616

Charge for year

-

1,344

604

1,948

At 31 December 2024

6,340

13,319

9,905

29,564

NET BOOK VALUE

At 31 December 2024

-

4,031

126

4,157

At 31 December 2023

-

5,375

730

6,105

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

2,484

75,923

Other debtors

179,554

96,360

Property deposits

6,550

Directors' current accounts

164,741

144,923

Section 455 tax repayable

54,963

48,275

VAT

3,296

2,099

Deferred tax asset

1,471

1,246

Prepayments and accrued income

58,630

35,075

471,689

410,451

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

52,218

50,787

Other loans

10,593

Hire purchase contracts

-

2,631

Trade creditors

48,127

60,403

Tax

34,586

5,895

Social security and other taxes

51,630

23,369

Pension contributions payable

825

833

Other creditors

94,047

91,201

Accruals and deferred income

1,855

3,185

293,881

248,897

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans - 1-2 years

22,518

27,511

Other loans - 1-2 years

136,826

147,419

159,344

174,930

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank overdrafts

47,225

25,377

Bank loans

27,511

52,921

74,736

78,298

The bank overdrafts and bank loans are secured by a fixed and floating charge over all assets.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

M J Westwood

Balance outstanding at start of year

144,923

127,455

Amounts advanced

19,817

63,092

Amounts repaid

-

(45,624

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

164,740

144,923

The above balance has no fixed date for repayment, is repayable upon demand and is non-interest bearing.