Trimex Food & Wine Limited Filleted accounts for Companies House (small and micro)

Trimex Food & Wine Limited Filleted accounts for Companies House (small and micro)

TRIMEX FOOD & WINE LTD - Company Information

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false false false false false false false false false true false false false false false false false No description of principal activity 2018-04-01 Sage Accounts Production Advanced 2019 - FRS102_2014 38,001 11,400 3,800 15,200 22,801 26,601 11,391 2,820 14,211 9,793 884 10,677 3,534 1,598 xbrli:pure xbrli:shares iso4217:GBP 07985707 2018-04-01 2019-03-31 07985707 2019-03-31 07985707 2018-03-31 07985707 2017-04-01 2018-03-31 07985707 2018-03-31 07985707 core:NetGoodwill 2018-04-01 2019-03-31 07985707 core:PlantMachinery 2018-04-01 2019-03-31 07985707 bus:Director1 2018-04-01 2019-03-31 07985707 core:NetGoodwill 2018-03-31 07985707 core:NetGoodwill 2019-03-31 07985707 core:PlantMachinery 2018-03-31 07985707 core:PlantMachinery 2019-03-31 07985707 core:WithinOneYear 2019-03-31 07985707 core:WithinOneYear 2018-03-31 07985707 core:ShareCapital 2019-03-31 07985707 core:ShareCapital 2018-03-31 07985707 core:RetainedEarningsAccumulatedLosses 2019-03-31 07985707 core:RetainedEarningsAccumulatedLosses 2018-03-31 07985707 core:NetGoodwill 2018-03-31 07985707 core:PlantMachinery 2018-03-31 07985707 bus:SmallEntities 2018-04-01 2019-03-31 07985707 bus:AuditExempt-NoAccountantsReport 2018-04-01 2019-03-31 07985707 bus:FullAccounts 2018-04-01 2019-03-31 07985707 bus:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 07985707 bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31
COMPANY REGISTRATION NUMBER: 07985707
Trimex Food & Wine Limited
Filleted Unaudited Financial Statements
31 March 2019
Trimex Food & Wine Limited
Statement of Financial Position
31 March 2019
2019
2018
Note
£
£
£
Fixed assets
Intangible assets
5
22,801
26,601
Tangible assets
6
3,534
1,598
--------
--------
26,335
28,199
Current assets
Stocks
64,872
63,492
Debtors
7
10,584
12,869
Cash at bank and in hand
19,461
10,243
--------
--------
94,917
86,604
Creditors: amounts falling due within one year
8
87,288
84,078
--------
--------
Net current assets
7,629
2,526
--------
--------
Total assets less current liabilities
33,964
30,725
--------
--------
Net assets
33,964
30,725
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
33,864
30,625
--------
--------
Shareholders funds
33,964
30,725
--------
--------
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 statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Trimex Food & Wine Limited
Statement of Financial Position (continued)
31 March 2019
These financial statements were approved by the board of directors and authorised for issue on 9 December 2019 , and are signed on behalf of the board by:
Mr H S Bhatia
Director
Company registration number: 07985707
Trimex Food & Wine Limited
Notes to the Financial Statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 296-298 High Street, Harlington, Hayes, Middlesex, UB3 5DU.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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
-
20% reducing balance
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.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 4 (2018: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2018 and 31 March 2019
38,001
--------
Amortisation
At 1 April 2018
11,400
Charge for the year
3,800
--------
At 31 March 2019
15,200
--------
Carrying amount
At 31 March 2019
22,801
--------
At 31 March 2018
26,601
--------
6. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 April 2018
11,391
11,391
Additions
2,820
2,820
--------
--------
At 31 March 2019
14,211
14,211
--------
--------
Depreciation
At 1 April 2018
9,793
9,793
Charge for the year
884
884
--------
--------
At 31 March 2019
10,677
10,677
--------
--------
Carrying amount
At 31 March 2019
3,534
3,534
--------
--------
At 31 March 2018
1,598
1,598
--------
--------
7. Debtors
2019
2018
£
£
Other debtors
10,584
12,869
--------
--------
8. Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
2,562
581
Trade creditors
1,451
689
Corporation tax
928
1,408
Social security and other taxes
17,496
12,618
Other creditors
64,851
68,782
--------
--------
87,288
84,078
--------
--------