General Information
Trinity Wiring Limited is a private company, limited by shares, registered in England and Wales, registration number 05058823, registration address 1a Mayflower Way, Harleston, IP20 9EB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Long -term leasehold property |
10 Years Straight Line |
| Plant and Machinery |
3 and 6 Years Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Commitments under operating leases
At 30 June 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
| Particulars |
|
2025
£ |
|
2024
£ |
| Not later than 1 year |
|
14,685 |
|
32,152 |
| Later than 1 year and not later than 5 years |
|
- |
|
17,096 |
|
|
14,685 |
|
49,248 |
|
| 3. |
Average number of employees
Average number of employees during the year was 41 (2024 : 42).
|
| 4. |
Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £32,211 (2024: £29,861). Contributions totalling £2,147 (2024 : £2,095) were payable to the fund at the reporting date and are included in creditors.
|
| 5. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 July 2024 |
97,250 |
|
97,250 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 30 June 2025 |
97,250 |
|
97,250 |
| Amortisation |
| At 01 July 2024 |
97,250 |
|
97,250 |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 30 June 2025 |
97,250 |
|
97,250 |
| Net book values |
| At 30 June 2025 |
- |
|
- |
| At 30 June 2024 |
- |
|
- |
|
| 6. |
Tangible fixed assets
| Cost or valuation |
Long -term leasehold property |
|
Plant and Machinery |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 July 2024 |
27,783 |
|
136,328 |
|
164,111 |
| Additions |
- |
|
19,984 |
|
19,984 |
| Disposals |
- |
|
(3,993) |
|
(3,993) |
| At 30 June 2025 |
27,783 |
|
152,319 |
|
180,102 |
| Depreciation |
| At 01 July 2024 |
18,394 |
|
120,789 |
|
139,183 |
| Charge for year |
3,071 |
|
14,303 |
|
17,374 |
| On disposals |
- |
|
(3,927) |
|
(3,927) |
| At 30 June 2025 |
21,465 |
|
131,165 |
|
152,630 |
| Net book values |
| Closing balance as at 30 June 2025 |
6,318 |
|
21,154 |
|
27,472 |
| Opening balance as at 01 July 2024 |
9,389 |
|
15,538 |
|
24,927 |
|
| 7. |
Events after Balance sheet date
|
|
New Lease
After 30 June 2025, the company entered into a new 10-year lease for its premises expiring 31 December 2035, with a break option at year 6 (1 February 2032).
Future minimum lease payments under this lease, assuming the break option is not exercised, are £192,951 for the first 6 years.
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2
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