REGISTERED NUMBER: 02970413 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

TRIDENT BUSINESS CENTRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms H E Butler

Mr D A Gordon

Mr O Olanrewaju

Ms A M Raja

Ms B Riemer

Mr W A M Sceats

Mr J R Wall

Mr S J Williams

Mr G Culverhouse

REGISTERED OFFICE:

89 Bickersteth Road

Tooting

London

SW17 9SH

REGISTERED NUMBER:

02970413 (England and Wales)

INDEPENDENT AUDITORS:

Barnes Roffe Audit Limited

Chartered Accountants & Statutory

Auditors

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford, DA2 6QA

FIXED ASSETS

Tangible assets

4

4,094,210

6,157,987

CURRENT ASSETS

Debtors

5

111,347

110,982

Cash at bank and in hand

428,076

307,247

539,423

418,229

CREDITORS

Amounts falling due within one year

6

1,191,114

1,008,065

NET CURRENT LIABILITIES

(651,691

)

(589,836

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,442,519

5,568,151

CREDITORS

Amounts falling due after more than one year

7

(478,288

)

(497,514

)

DEFERRED INCOME

9

(631,421

)

(674,165

)

NET ASSETS

2,332,810

4,396,472

CAPITAL AND RESERVES

Called up share capital

10

2

2

Revaluation reserve

1,800,862

3,790,862

Retained earnings

531,946

605,608

SHAREHOLDERS' FUNDS

2,332,810

4,396,472

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

Mr O Olanrewaju - Director

1.	STATUTORY INFORMATION

Trident Business Centre 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 as modified by the revaluation of certain assets.

The following principal accounting policies have been applied:

Significant judgements and estimates

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating the fair value of long leasehold property. A review of the value of long leasehold property is carried out by management regularly in addition to periodic external professional valuations, as discussed in note 5. Whilst every attempt is made to ensure that the value is as accurate as possible, there remains a risk that the value disclosed in the accounts does not match the actual fair value at the balance sheet date.

There is estimation uncertainty in calculating depreciation. A full line by review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculation bad debt provisions. A full line by line review of rent receivables is carried out at the year end. While every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be irrecoverable.

Revenue

Revenue comprises revenue recognised by the company in respect of rental income and ancillary income for services and utilities provided. Income is recognised on a straight line basis, and deferred when received in advance, in accordance with the below recognition policy.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

• the amount of revenue can be measured reliably;

• it is probable that the Company will receive the consideration due under the contract;

• the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

• the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Long-term leasehold property - Not depreciated

Plant and machinery - 33% straight line or 25% reducing balance

Leasehold improvements - 10% or 20% or 40% straight line

The company has invoked a true and fair override from the requirements of the Companies Act 2006 to charge depreciation on leasehold properties, that are included within tangible fixed assets, and so has not provided for depreciation on leasehold properties. It is the company's policy to maintain its properties in a sound state of repair and, accordingly, the directors consider that the economic lives of the properties and the life left on the lease are so long and the residual value at such a level that depreciation would be immaterial.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified

valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Government and local authority grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax has not been recognised on the revaluation of leasehold properties as in the event of a sale of the leasehold property any taxable profit would be offset by a charitable donation to the parent charitable company, and therefore the expectation is that no tax would be payable.

Hire purchase and leasing commitments

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

Defined contributions pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Interest income

Interest income is recognised in profit and loss using the effective interest method.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Long

Improvements

leasehold

to

Plant and

property

property

machinery

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

5,575,000

770,455

475,511

6,820,966

Additions

-

3,041

3,806

6,847

Revaluations

(1,990,000

)

-

-

(1,990,000

)

At 31 March 2025

3,585,000

773,496

479,317

4,837,813

DEPRECIATION

At 1 April 2024

-

209,628

453,351

662,979

Charge for year

-

67,649

12,975

80,624

At 31 March 2025

-

277,277

466,326

743,603

NET BOOK VALUE

At 31 March 2025

3,585,000

496,219

12,991

4,094,210

At 31 March 2024

5,575,000

560,827

22,160

6,157,987

Included in cost or valuation of land and buildings is freehold land of £ 3,585,000 (2024 - £ 5,575,000 ) which is not depreciated.

If the long leasehold had not been included at valuation it would have been included under the historical cost convention at £1,784,138 (2024 - £1,784,138).

The leasehold property has been independently valued at fair value by Crump Winter Limited, the Independent Valuer, an accredited external valuer with recognised and relevant professional qualifications and experience of the location and category of the leasehold property being valued.

The external valuation was carried out on 8th July 2025, and updated on 9th September 2025, giving a valuation of £3,585,000.

The valuation has been prepared in accordance with the RICS Valuation - Professional Standards, January 2022, Global and UK Editions (commonly known as the "Red Book").

The reduction in the fair value of the property is attributed to a headlease clause that was overlooked in prior year property valuations. Specifically, the valuation carried out in July 2025, and updated in September 2025, factored in a clause in the headlease that requires rent to be paid to the landlord based on the level of company profits. At present under the current structure no rent is due as a result of Trident Business Centre donating all profits up to the parent charity, Business Launchpad, each year. Given that fair value should be at open market value it was agreed with the valuers that this rent clause should be factored into the valuation.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

43,379

89,025

Other debtors

196

-

Prepayments

67,772

21,957

111,347

110,982

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

19,651

14,417

Trade creditors

65,133

49,941

Amounts owed to group undertakings

784,286

605,570

VAT

30,054

25,256

Tenants' deposits held

99,621

90,888

Deferred income

160,979

161,808

Accruals

31,390

60,185

1,191,114

1,008,065

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

478,288

497,514

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

426,018

441,250

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

19,651

14,417

Amounts falling due between one and two years:

Bank loans

16,707

19,188

Amounts falling due between two and five years:

Bank loans

35,563

37,076

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

426,018

441,250

Bank loans are secured by a fixed charge over long term leasehold property and a floating charge over the company's other assets.

The above represents loans from the Charity Bank at an interest rate of 3.25% per annum above the base rate of The Bank of England and is repayable over a period of 25 years. The balance outstanding is £481,098 (2024: £485,000). Also included is a bounce bank loan at an interest rate of 2.5% per annum and repayable over 5 years. The balance outstanding is £16,841 (2024: £26,931).

9.	DEFERRED INCOME

2025

2024

£

£

Deferred income

631,421

674,165

Grants

£

Balance at 1 April 2024

674,165

Credit to Income Statement during year

(42,744

)

Balance at 31 March 2025

631,421

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ben Bradley (Senior Statutory Auditor)

for and on behalf of Barnes Roffe Audit Limited

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party is Business Launchpad Limited, a charitable company, incorporated in England and Wales.