Registration number: 06741246

Total Triumph (Taunton) Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

Total Triumph (Taunton) Limited

(Registration number: 06741246)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	1,679	1,679
Tangible assets	5	90,542	103,768
		92,221	105,447
Current assets
Stocks	6	1,143,712	1,048,028
Debtors	7	877,664	719,046
Cash at bank and in hand		389,581	246,270
		2,410,957	2,013,344
Creditors: Amounts falling due within one year	8	(681,497)	(463,974)
Net current assets		1,729,460	1,549,370
Total assets less current liabilities		1,821,681	1,654,817
Provisions for liabilities		(17,073)	(17,433)
Net assets		1,804,608	1,637,384
Capital and reserves
Called up share capital		90	90
Profit and loss account		1,804,518	1,637,294
Total equity		1,804,608	1,637,384

Total Triumph (Taunton) Limited

(Registration number: 06741246)
Balance Sheet as at 31 December 2024

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 member has 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the director on 27 September 2025
 

Mr N A Mossman Director

Total Triumph (Taunton) Limited

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:
Three Bridges Garage
Wellington Road
Bradford On Tone
Taunton
Somerset
TA4 1ES

These financial statements were authorised for issue by the director on 27 September 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 company, and rounded to the nearest £.

Going concern

The director considers that the company has adequate resources in place to continue trading for the next twelve months, therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of motorcycles and ancillary goods and provision of motorcycle servicing 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.

Tax

The tax expense for the period comprises UK 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.

Total Triumph (Taunton) Limited

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

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the Balance Sheet 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.

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
Fixtures and fittings	25% straight line
Plant, machinery and computer equipment	25% reducing balance
Leasehold improvements	10% straight line
Motor vehicles	25% reducing balance

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.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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 years straight line

Total Triumph (Taunton) Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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 stocks 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Total Triumph (Taunton) Limited

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

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

A dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 11 (2023 - 13).

Total Triumph (Taunton) Limited

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

4	Intangible assets

	Goodwill  £	Trademarks, patents and licenses  £	Total £
Cost
At 1 January 2024	18,968	1,679	20,647
At 31 December 2024	18,968	1,679	20,647
Amortisation
At 1 January 2024	18,968	-	18,968
At 31 December 2024	18,968	-	18,968
Carrying amount
At 31 December 2024	-	1,679	1,679
At 31 December 2023	-	1,679	1,679

5	Tangible assets

	Leasehold improvements £	Fixtures and fittings £	Plant, machinery and computer equipment £	Motor vehicles  £
Cost or valuation
At 1 January 2024	57,237	98,182	150,527	76,684
Additions	-	10,424	3,056	-
At 31 December 2024	57,237	108,606	153,583	76,684
Depreciation
At 1 January 2024	22,209	92,498	122,848	41,307
Charge for the year	5,724	4,746	7,392	8,844
At 31 December 2024	27,933	97,244	130,240	50,151
Carrying amount
At 31 December 2024	29,304	11,362	23,343	26,533
At 31 December 2023	35,028	5,684	27,679	35,377

Total Triumph (Taunton) Limited

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

	Total £
Cost or valuation
At 1 January 2024	382,630
Additions	13,480
At 31 December 2024	396,110
Depreciation
At 1 January 2024	278,862
Charge for the year	26,706
At 31 December 2024	305,568
Carrying amount
At 31 December 2024	90,542
At 31 December 2023	103,768

Total Triumph (Taunton) Limited

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

6

Stocks

	2024 £	2023 £
Raw materials and consumables	163,897	179,937
Work in progress	9,446	10,325
Finished goods and goods for resale	970,369	857,766
	1,143,712	1,048,028

7

Debtors

	2024 £	2023 £
Other debtors	825,448	661,475
Prepayments	52,216	57,571
	877,664	719,046

8

Creditors

Due within one year	Note	2024 £	2023 £
Loans and borrowings	9	323,676	210,746
Trade creditors		118,234	69,540
Taxes and social security		189,643	99,666
Other creditors		28,876	21,340
Accruals and deferred income		21,068	62,682
		681,497	463,974