Company registration number 07691759 (England and Wales)
TRITURN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 14 MAY 2025
PAGES FOR FILING WITH REGISTRAR
TRITURN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
TRITURN LIMITED
BALANCE SHEET
AS AT 14 MAY 2025
14 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
6
59,300
277,568
Cash at bank and in hand
131,796
-
0
191,096
277,568
Creditors: amounts falling due within one year
7
(539,173)
(551,115)
Net current liabilities
(348,077)
(273,547)
Capital and reserves
Called up share capital
30
30
Profit and loss reserves
(348,107)
(273,577)
Total equity
(348,077)
(273,547)

For the financial year ended 14 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 May 2026 and are signed on its behalf by:
Mr T Stone
Mr J Priestley
Director
Director
Mrs L A Handley
Director
Company registration number 07691759 (England and Wales)
TRITURN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 14 MAY 2025
- 2 -
1
Accounting policies
Company information

Triturn Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Pkf Littlejohn Advisory Limited, 4th Floor, 12 King Street, Leeds, LS1 2HL.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These accounts have been prepared on a break-up basis as the company ceased trading on 30th June 2023. Management commenced winding up procedures on 15th May 2024 when they entered into a company voluntary arrangement. true

1.3
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is five years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

TRITURN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 14 MAY 2025
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
20% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TRITURN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 14 MAY 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Intangible fixed assets
Goodwill
£
Cost
At 15 May 2024 and 14 May 2025
1,000,000
Amortisation and impairment
At 15 May 2024 and 14 May 2025
1,000,000
Carrying amount
At 14 May 2025
-
0
At 14 May 2024
-
0
5
Tangible fixed assets
Leasehold land and buildings
£
Cost
At 15 May 2024 and 14 May 2025
46,042
Depreciation and impairment
At 15 May 2024 and 14 May 2025
46,042
Carrying amount
At 14 May 2025
-
0
At 14 May 2024
-
0
TRITURN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 14 MAY 2025
- 5 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,300
25,599
Corporation tax recoverable
58,000
58,000
Other debtors
-
0
193,969
59,300
277,568
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
94,283
94,145
Trade creditors
393,728
393,728
Taxation and social security
46,162
48,242
Other creditors
5,000
15,000
539,173
551,115

The bank overdrafts and loan facility is secured by a debenture creating a fixed and floating charge over the assets of the company.

8
Related party transactions

The company was under the control of the directors throughout the current and previous period.

9
Directors' transactions

During the period loans were made to the Directors of £nil (2024 - £nil), repayments received from the Directors of £123,182 (2024 - £71,909) and the remaining balance was reduced to nil. The repayments and reduction of the remaining balance, was approved by the creditors under the terms of the CVA. The CVA terms provided for a review by an appointed solicitor of claims submitted from the directors against the Company for unclaimed expenses and entitlements that they would have ordinarily been permitted to deduct. This independent review confirmed these items were validly deductible. The directors consider that the balances have been appropriately settled in accordance with the terms of the CVA.

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