Tristan Cockerill Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Tristan Cockerill Ltd

(Registration number: 10173840)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	49,583	84,583
Tangible assets	5	29,205	33,003
		78,788	117,586
Current assets
Stocks		84,020	48,813
Debtors	6	32,024	38,096
Cash at bank and in hand		32,913	73,015
		148,957	159,924
Creditors: Amounts falling due within one year	7	(24,314)	(31,603)
Net current assets		124,643	128,321
Total assets less current liabilities		203,431	245,907
Provisions for liabilities		(2,723)	(3,249)
Net assets		200,708	242,658
Capital and reserves
Called up share capital		10	10
Share premium reserve		34,900	34,900
Profit and loss account		165,798	207,748
Shareholders' funds		200,708	242,658

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 26 September 2025
 

Tristan Cockerill Ltd

(Registration number: 10173840)
Statement of Financial Position as at 31 December 2024 (continued)

Mr Tristan Cockerill Director

Tristan Cockerill Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Smythacott
Frithelstockstone
Torrington
Devon
EX38 8JY

Principal activity

The principal activity of the company is the manufacture of furniture.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Tristan Cockerill Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Tristan Cockerill Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold improvements	5% straight line
Plant and machinery	25% reducing balance
Fittings fixtures and equipment	25% reducing balance
Motor vehicles	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Tristan Cockerill Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	350,000	350,000
At 31 December 2024	350,000	350,000
Amortisation
At 1 January 2024	265,417	265,417
Amortisation charge	35,000	35,000
At 31 December 2024	300,417	300,417
Carrying amount
At 31 December 2024	49,583	49,583
At 31 December 2023	84,583	84,583

Tristan Cockerill Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5	Tangible assets

	Freehold property £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	20,556	15,471	28,099	36,442	100,568
Additions	-	1,483	528	-	2,011
Disposals	-	-	(210)	-	(210)
At 31 December 2024	20,556	16,954	28,417	36,442	102,369
Depreciation
At 1 January 2024	4,654	9,331	22,217	31,363	67,565
Charge for the year	1,027	1,906	1,606	1,270	5,809
Eliminated on disposal	-	-	(210)	-	(210)
At 31 December 2024	5,681	11,237	23,613	32,633	73,164
Carrying amount
At 31 December 2024	14,875	5,717	4,804	3,809	29,205
At 31 December 2023	15,902	6,140	5,882	5,079	33,003

6

Debtors

	2024 £	2023 £
Trade debtors	5,070	25,509
Other debtors	25,257	10,851
Prepayments	1,697	1,736
	32,024	38,096

Tristan Cockerill Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	11,724	13,132
Taxation and social security	6,175	12,694
Accruals and deferred income	2,770	2,285
Other creditors	3,645	3,492
	24,314	31,603

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Tristan Cockerill Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9	Related party transactions

Transactions with the director

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Director	10,851	58,383	(45,273)	23,961

2023	At 1 January 2023 £	Advances to director £	Repayments by director £	At 31 December 2023 £
Director	25,618	45,514	(60,281)	10,851

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.