Trinnovo Group Staffing Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11097394

Trinnovo Group Staffing Ltd

Filleted Unaudited Financial Statements

30 December 2024

Trinnovo Group Staffing Ltd

Statement of Financial Position

30 December 2024

	2024	2023
		(restated)
Note	£	£

Fixed assets

Investments	7	15,916	15,916

Current assets

Debtors	8	4,514,894	4,443,676
Cash at bank and in hand		1,657	28,078
		------------	------------
		4,516,551	4,471,754

Creditors: amounts falling due within one year	9	3,860,373	3,667,760
		------------	------------
Net current assets		656,178	803,994
		---------	---------
Total assets less current liabilities		672,094	819,910
		---------	---------

Capital and reserves

Called up share capital	3	3
Profit and loss account	672,091	819,907
	---------	---------
Shareholders funds	672,094	819,910
	---------	---------

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 comprehensive income has not been delivered.

For the period ending 30 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period 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 .

Trinnovo Group Staffing Ltd

Statement of Financial Position (continued)

30 December 2024

These financial statements were approved by the board of directors and authorised for issue on 26 June 2026 , and are signed on behalf of the board by:

Ashley Lawrence

Director

Company registration number: 11097394

Trinnovo Group Staffing Ltd

Notes to the Financial Statements

Period ended 30 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Westland Place, London, N1 7JR, England.

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.

Income statement

The company is dormant as defined by section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current period or prior year.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

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 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 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

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 2 (2023: 28 ).

5. Discontinued operations

On 3 November 2023, the company disposed of it's trade and assets. The disposal was effected in order to generate cash flow for the expansion of the group's other businesses.

A profit of £1,312,414 arose on the disposal, being the proceeds of the sale, less the carrying amount of the business assets and attributable goodwill.

6. Investments in subsidiaries

At 31st December 2024 the company had interests in the following subsidiaries:

Trinnovo Group GmbH

100% Ownership by ordinary shares

Registered in Switzerland

Grafenauweg 8 Zug, ZUG, 6300 Switzerland

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 as restated and 30 December 2024	15,916
	--------
Impairment
At 1 January 2024 as restated and 30 December 2024	–
	--------

Carrying amount
At 30 December 2024	15,916
	--------
At 31 December 2023	15,916
	--------

8. Debtors

	2024	2023
		(restated)
	£	£
Trade debtors	–	155,810
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,747,661	1,339,662
Other debtors	2,767,233	2,948,204
	------------	------------
	4,514,894	4,443,676
	------------	------------

9. Creditors: amounts falling due within one year

	2024	2023
		(restated)
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,772,966	3,554,356
Social security and other taxes	60,372	53,689
Other creditors	27,035	59,715
	------------	------------
	3,860,373	3,667,760
	------------	------------

At the year end, the company had secured borrowings totalling £27,035. Charge 1109 7394 0001 and 1109 7394 0002 secures liabilities with a fixed charge and floating charge over all property and assets held by the company.

10. Prior period errors

During the year, a prior period misstatement was identified in relation to the profit recognised on the disposal of the Company's trade and assets associated with the BioTalent brand, originally reported in the year ended 31 December 2023. A review of the Company's accounting records identified that two items had been incorrectly deducted from the calculation of the profit on disposal. The correction of this error has resulted in an increase in the gain on impairment or disposal of operations of £260,202, an increase in other debtors of £149,600, an increase in bad debts written off of £109,000, and an increase in interest expense of £1,602.

11. Directors' advances, credits and guarantees

Details of directors advances can be seen in the Related Party Disclosure Note 13.

12. Related party transactions

As at the balance sheet date, the directors owed the company £Nil (2023: £149,600). As at the balance sheet date, the company owed £19,845 to entities related by common control. The company has opted to use the small company exemption on the disclosure of related party disclosures with wholly owned companies within the group.

13. Controlling party

The ultimate parent undertaking is Trinnovo Group Holdings Ltd which prepares group financial statements, a company incorporated in England and Wales. Trinnovo Group Holding Ltds registered address is 20 Westland Place, London, England N1 7JR