Trym Software Limited
Trym Software Limited
Registered number: 09961363
Financial Statements
For The Year Ended 31 March 2019
Trym Software Limited
Financial Statements
For The Year Ended 31 March 2019
Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Trym Software Limited
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
09961363
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 16,600 | 19,589 | |||
Page 1
Trym Software Limited
Balance Sheet (continued)
As at
31 March 2019
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Trym Software Limited
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover represents the revenue generated from the sale of goods and services. Revenue is measured at the fair value of the consideration received and receivable excluding value added tax.
Sales of goods are recognised when the company has delivered the products to the customer and the customer has accepted the products.
Revenue from services is recognised when services have been provided and the contractual right to the consideration has been earned. For incomplete contracts an assessment is made of the extent to which revenue has been earned.
1.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised to reflect the new expectations.
In the case of cryptocurrencies, where there is an active market, initial measurement is at cost with subsequent measurement being based on the revaluation model. Accordingly, following initial recognition the intangible is revalued at the end of each accounting reference period.
If the carrying amount is increased as a result of a revaluation, the increase shall be recognised in other comprehensive income unless it reverses a revaluation decrease of the same asset class previously recognised in the statement of income and retained earnings. A revaluation decrease which exceeds the accumulated revaluation gains recognised in other comprehensive income is charged in arriving at the company’s profit or loss for a year
1.4.
Financial Instruments
Financial liabilities and equity instruments are classified and accounted for according to the substance of contractual arrangements, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
1.5.
Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Trym Software Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
1.6.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.
3.
Average Number of Employees
The average number of employees during the year was 1 (2018: 1)
5.
Intangible Assets
| Other | |||
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| Cost | |||
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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Trym Software Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
6.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 1,469 | 7,382 | |
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Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Trade creditors |
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| Taxation and social security | 17,367 | 18,121 | |
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Trym Software Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
9.
Directors Advances, Credits and Guarantees
The following advances and credits to a director subsisted during the year ended 31 March 2019 :
| As at |
Amounts advanced | Amounts repaid | Amounts written off | As at |
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| £ | £ | £ | £ | £ | |
| Mr Luke Spencer |
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Other than movements on the directors' loan accounts with the company, there were no other advances, credits and guarantees with the directors during the accounting period.
The overdrawn directors' loan account balance as at 31 March 2019 was repaid on 3rd May 2019.
10.
Related Party Transactions
During the year, total dividends of £62,715 (2018: £42,400) were paid to the director.
The company's sole director is Mr L Spencer.
Mr L Spencer, director, holds 6 "A" ordinary shares and Mrs J Reay, holding 4 "B" ordinary shares. Together they ultimately control the company.
11.
General Information
Trym Software Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09961363 . The registered office is Atelier B1, 9-11 Lodway, Pill, Bristol, BS20 0DH.
The presentation currency of the financial statements is the Pound Sterling (£)
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