Company registration number:
08210495
TROPHYME LTD
Unaudited filleted financial statements
31 December 2024
TROPHYME LTD
Contents
Statement of financial position
Notes to the financial statements
TROPHYME LTD
Statement of financial position
31 December 2024
|
|
|
2024 |
|
|
|
2023 |
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|
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Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
2,750 |
|
|
|
3,350 |
|
|
|
Tangible assets |
|
6 |
206,752 |
|
|
|
165,031 |
|
|
|
Investments |
|
7 |
1 |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
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209,503 |
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|
|
168,381 |
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|
|
|
|
|
|
|
|
|
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Current assets |
|
|
|
|
|
|
|
|
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Stocks |
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127,509 |
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65,000 |
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|
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Debtors |
|
8 |
556,883 |
|
|
|
129,975 |
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|
|
Cash at bank and in hand |
|
|
23,661 |
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|
|
114,795 |
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|
|
|
|
_______ |
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|
|
_______ |
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|
|
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708,053 |
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309,770 |
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Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
852,455) |
|
|
|
(
225,860) |
|
|
|
|
|
_______ |
|
|
|
_______ |
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|
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Net current (liabilities)/assets |
|
|
|
|
(
144,402) |
|
|
|
83,910 |
|
|
|
|
|
_______ |
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|
|
_______ |
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Total assets less current liabilities |
|
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65,101 |
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252,291 |
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|
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|
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Creditors: amounts falling due |
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|
|
|
|
|
|
|
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after more than one year |
|
10 |
|
|
(
29,108) |
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|
|
(
42,829) |
|
|
|
|
|
_______ |
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|
|
_______ |
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Net assets |
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|
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35,993 |
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|
|
209,462 |
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|
|
|
|
_______ |
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|
_______ |
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Capital and reserves |
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|
|
|
|
|
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|
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Called up share capital |
|
|
|
|
200 |
|
|
|
200 |
|
Share premium account |
|
|
|
|
249,900 |
|
|
|
249,900 |
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Revaluation reserve |
|
|
|
|
20,937 |
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|
|
20,937 |
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Profit and loss account |
|
|
|
|
(
235,044) |
|
|
|
(
61,575) |
|
|
|
|
|
_______ |
|
|
|
_______ |
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Shareholders funds |
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|
|
|
35,993 |
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209,462 |
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|
|
|
|
_______ |
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_______ |
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For the 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 financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
15 September 2025
, and are signed on behalf of the board by:
Mr M Stewart
Director
Company registration number:
08210495
TROPHYME LTD
Notes to the financial statements
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 12, Holbrook Park, Swallow Road, Coventry, West Midlands, CV6 4PU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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| Goodwill |
- |
10% per annum on a straight line basis |
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|
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Short leasehold property |
- |
Over the term of the lease
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Fittings fixtures and equipment |
- |
20% per annum on a straight line basis
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|
Motor vehicles |
- |
20% per annum on a straight line basis
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|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
18
(2023:
17
).
9.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
5,556 |
5,556 |
|
Trade creditors |
|
601,843 |
144,044 |
|
Social security and other taxes |
|
109,103 |
47,602 |
|
Other creditors |
|
135,953 |
28,658 |
|
|
|
_______ |
_______ |
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|
|
852,455 |
225,860 |
|
|
|
_______ |
_______ |
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|
10.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
25,358 |
30,913 |
|
Other creditors |
|
3,750 |
11,916 |
|
|
|
_______ |
_______ |
|
|
|
29,108 |
42,829 |
|
|
|
_______ |
_______ |
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12.
Controlling party
The company is controlled by Trophy Assets Live BV, a company registered in The Netherlands and the company director and his family, by virtue of their shareholdings.