TRANCHE LIMITED


Director	PYCROFT, Stephen Gerard


Registered Address	Winston Court
	Llanvetherine
	Abergavenny
	NP7 8RG


Registered Number	09479129 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		286		974
			286		974
Current assets
Debtors		35,083,175		35,160,132
Cash at bank and on hand		215,954		14,179
		35,299,129		35,174,311
Creditors amounts falling due within one year	4	(697,609)		(632,079)
Net current assets (liabilities)			34,601,520		34,542,232
Total assets less current liabilities			34,601,806		34,543,206
Creditors amounts falling due after one year	5		(17,256,796)		(16,744,489)
Provisions for liabilities	6		(72)		(350)
Net assets			17,344,938		17,798,367
Capital and reserves
Called up share capital			926		926
Share premium			9,256,056		9,256,056
Profit and loss account			8,087,956		8,541,385
Shareholders' funds			17,344,938		17,798,367

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 30 December 2025, and are signed on its behalf by:

PYCROFT, Stephen Gerard
Director
Registered Company No. 09479129

TRANCHE LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	3
	Fixtures and fittings	3
	Vehicles	3
	Office Equipment	3

2.	Average number of employees


		2025		2024
	Average number of employees during the year	3		3

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 April 24	17,044	17,044
At 31 March 25	17,044	17,044
Depreciation and impairment
At 01 April 24	16,070	16,070
Charge for year	688	688
At 31 March 25	16,758	16,758
Net book value
At 31 March 25	286	286
At 31 March 24	974	974

4.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	168,712	4,164
Amounts owed to related parties	445,051	545,051
Taxation and social security	82,405	82,864
Other creditors	1,441	-
Total	697,609	632,079


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

5.	Creditors: amounts due after one year

	2025	2024
	£	£
Amounts owed to related parties	428,694	429,081
Other creditors	16,828,102	16,315,408
Total	17,256,796	16,744,489

6.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	72	350
Total	72	350