Triple E Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 02319026

Triple E Limited

Filleted Unaudited Financial Statements

31 December 2018

Triple E Limited

Financial Statements

Period from 1 April 2018 to 31 December 2018

Contents	Page

Directors' report	1

Report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Triple E Limited

Directors' Report

Period from 1 April 2018 to 31 December 2018

The directors present their report and the unaudited financial statements of the company for the Period ended 31 December 2018 .

Directors

The directors who served the company during the Period were as follows:

Mrs B Edelstein
Mr D Edelstein

The following directors were appointed after the period end: Miss LRA Edelstein (Appointed 9 April 2019 )

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 19 September 2019 and signed on behalf of the board by:

Mr D Edelstein

Director

Registered office:

Bourne House

475 Godstone Road

Whyteleafe

Surrey

England

CR3 0BL

Triple E Limited

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Triple E Limited

Period from 1 April 2018 to 31 December 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Triple E Limited for the Period ended 31 December 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

BAILHACHE LINTON LLP Accountants

Bourne House 475 Godstone Road Whyteleafe Surrey CR3 0BL

19 September 2019

Triple E Limited

Statement of Financial Position

31 December 2018

	31 Dec 18	31 Mar 18
Note	£	£

Fixed assets

Tangible assets	5	192,315	10,822
Investments	6	100	–
		---------	--------
		192,415	10,822

Current assets

Stocks		482,208	317,205
Debtors	7	413,847	516,041
Cash at bank and in hand		152,334	244,186
		------------	------------
		1,048,389	1,077,432

Creditors: amounts falling due within one year	8	731,599	655,857
		------------	------------
Net current assets		316,790	421,575
		---------	---------
Total assets less current liabilities		509,205	432,397

Creditors: amounts falling due after more than one year	9	130,070	–

Provisions	10,277	760
	---------	---------
Net assets	368,858	431,637
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	368,758	431,537
	---------	---------
Shareholders funds	368,858	431,637
	---------	---------

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 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 income statement has not been delivered.

For the Period ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 .

Triple E Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 19 September 2019 , and are signed on behalf of the board by:

Mr D Edelstein

Director

Company registration number: 02319026

Triple E Limited

Notes to the Financial Statements

Period from 1 April 2018 to 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bourne House, 475 Godstone Road, Whyteleafe, Surrey, CR3 0BL, 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.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Leasehold Improvements	-	Over 5 years, being the term of the lease

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.

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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.

4. Employee numbers

The average number of persons employed by the company during the Period amounted to 13 (2018: 11 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Leasehold Improve- ments	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2018	–	13,356	24,085	–	37,441
Additions	50,970	28,692	–	95,528	175,190
Revaluations	27,755	–	–	–	27,755
	--------	--------	--------	--------	---------
At 31 December 2018	78,725	42,048	24,085	95,528	240,386
	--------	--------	--------	--------	---------
Depreciation
At 1 April 2018	–	3,535	23,084	–	26,619
Charge for the period	8,538	4,765	188	7,961	21,452
	--------	--------	--------	--------	---------
At 31 December 2018	8,538	8,300	23,272	7,961	48,071
	--------	--------	--------	--------	---------
Carrying amount
At 31 December 2018	70,187	33,748	813	87,567	192,315
	--------	--------	--------	--------	---------
At 31 March 2018	–	9,821	1,001	–	10,822
	--------	--------	--------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Leasehold Improve- ments	Total
	£	£	£
At 31 December 2018	17,355	69,845	87,200
	--------	--------	--------
At 31 March 2018	–	–	–
	--------	--------	--------

6. Investments

	Investment in group undertaking
	£
Cost
At 1 April 2018	–
Additions	140,000
	---------
At 31 December 2018	140,000
	---------
Impairment
At 1 April 2018	–
Impairment losses	139,900
	---------
At 31 December 2018	139,900
	---------

Carrying amount
At 31 December 2018	100
	---------
At 31 March 2018	–
	---------

7. Debtors

	31 Dec 18	31 Mar 18
	£	£
Trade debtors	370,435	492,149
Other debtors	43,412	23,892
	---------	---------
	413,847	516,041
	---------	---------

8. Creditors: amounts falling due within one year

	31 Dec 18	31 Mar 18
	£	£
Bank loans and overdrafts	21,556	47,827
Trade creditors	291,449	279,047
Corporation tax	20,062	45,641
Social security and other taxes	10,616	25,948
Factoring accounts	153,170	99,367
Other creditors	234,746	158,027
	---------	---------
	731,599	655,857
	---------	---------

9. Creditors: amounts falling due after more than one year

	31 Dec 18	31 Mar 18
	£	£
Bank loans and overdrafts	10,863	–
Other creditors	119,207	–
	---------	----
	130,070	–
	---------	----

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	31 Dec 18	31 Mar 18
	£	£
Not later than 1 year	82,944	6,229
Later than 1 year and not later than 5 years	268,248	3,946
	---------	--------
	351,192	10,175
	---------	--------

11. Directors' advances, credits and guarantees

During the Period the directors entered into the following advances and credits with the company:

	31 Dec 18
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs B Edelstein	( 6,732)	( 20,605)	( 27,337)
Mr D Edelstein	( 23,276)	6,467	( 16,809)
	--------	--------	--------
	( 30,008)	( 14,138)	( 44,146)
	--------	--------	--------

	31 Mar 18
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs B Edelstein	11,084	( 17,816)	( 6,732)
Mr D Edelstein	( 19,214)	( 4,062)	( 23,276)
	--------	--------	--------
	( 8,130)	( 21,878)	( 30,008)
	--------	--------	--------