COMPANY REGISTRATION NUMBER:
SC425699
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Entrust Resource Solutions Limited |
|
|
Filleted Unaudited Financial Statements |
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Entrust Resource Solutions Limited |
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Statement of Financial Position |
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31 March 2025
Fixed Assets
|
Investments |
5 |
|
729,737 |
729,737 |
|
|
|
|
|
Current Assets
|
Debtors |
6 |
568,730 |
|
529,877 |
|
Cash at bank and in hand |
16,709 |
|
41,608 |
|
--------- |
|
--------- |
|
585,439 |
|
571,485 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
1,017,213 |
|
938,259 |
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------------ |
|
--------- |
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Net Current Liabilities |
|
431,774 |
366,774 |
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|
--------- |
--------- |
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Total Assets Less Current Liabilities |
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297,963 |
362,963 |
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--------- |
--------- |
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Net Assets |
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297,963 |
362,963 |
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--------- |
--------- |
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|
|
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Capital and Reserves
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Called up share capital |
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25 |
25 |
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Share premium account |
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78,467 |
78,467 |
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Profit and loss account |
|
219,471 |
284,471 |
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|
--------- |
--------- |
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Shareholders Funds |
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297,963 |
362,963 |
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--------- |
--------- |
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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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Entrust Resource Solutions Limited |
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Statement of Financial Position (continued) |
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31 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
2 October 2025
, and are signed on behalf of the board by:
Company registration number:
SC425699
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Entrust Resource Solutions Limited |
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Notes to the Financial Statements |
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Year Ended 31 March 2025
1.
General Information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Dundee One, River Court, 5 West Victoria Dock Road, Dundee, DD1 3JT, Scotland.
2.
Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
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.
Investments in Associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in Joint Ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of Fixed Assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
4.
Employee Numbers
The average number of persons employed by the company during the year amounted to Nil
(2024:
2
).
5.
Investments
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Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 April 2024 and 31 March 2025 |
729,737 |
|
--------- |
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Impairment |
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At 1 April 2024 and 31 March 2025 |
– |
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--------- |
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Carrying amount |
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At 31 March 2025 |
729,737 |
|
--------- |
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At 31 March 2024 |
729,737 |
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--------- |
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The company has invested in the ordinary share capital of a subsidiary and its details are as follows:
Name of subsidiary
Percentage owned
Country of incorporation
Entrust People Limited
100%
Scotland
|
|
2025 |
2024 |
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|
£ |
£ |
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Aggregate capital and reserves |
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|
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Entrust People Limited |
(77,023) |
274,372 |
|
|
|
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Profit and (loss) for the year |
|
|
|
Entrust People Limited |
(272,395) |
(15,608) |
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Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
49,372 |
68,554 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
515,702 |
455,943 |
|
Other debtors |
3,656 |
5,380 |
|
--------- |
--------- |
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568,730 |
529,877 |
|
--------- |
--------- |
|
|
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7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
18,386 |
3,504 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
834,138 |
778,721 |
|
Corporation tax |
6,008 |
6,008 |
|
Social security and other taxes |
18,812 |
10,157 |
|
Other creditors |
139,869 |
139,869 |
|
------------ |
--------- |
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1,017,213 |
938,259 |
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------------ |
--------- |
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8.
Related Party Transactions
The company was under the control of
Mr R Watson
and Mr A Clark throughout the current and previous period. During the year the company received £79,000 (2024 - £98,000) in dividends from Entrust People Limited, a company which is 100% owed by Entrust Resource Solutions Limited
. At the year-end, Entrust Resource Solutions Limited
was due to pay an amount of £829,566 included in other creditors (2024 - £778,721) from wholly owned subsidiary company Entrust People Limited. There is no set repayment term or interest accruing on this loan.