Trident (Scotland) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC390680 (Scotland)

Financial Statements for the Year Ended 31 March 2019

for

Trident (Scotland) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Bakhsh

REGISTERED OFFICE:

Trident House

175 Renfrew Road

PAISLEY

Renfrewshire

PA3 4EF

REGISTERED NUMBER:

SC390680 (Scotland)

FIXED ASSETS

Tangible assets

4

34,231

44,321

Investment property

5

4,000,000

1,821,749

4,034,231

1,866,070

CURRENT ASSETS

Debtors

6

87,061

152,256

Cash at bank and in hand

6,816

12,055

93,877

164,311

CREDITORS

Amounts falling due within one year

7

1,366,160

1,182,911

NET CURRENT LIABILITIES

(1,272,283

)

(1,018,600

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,761,948

847,470

CREDITORS

Amounts falling due after more than one year

8

(1,577,938

)

(1,540,000

)

PROVISIONS FOR LIABILITIES

(265,279

)

-

NET ASSETS/(LIABILITIES)

918,731

(692,530

)

CAPITAL AND RESERVES

Called up share capital

11

200

200

Fair value reserve

12

1,798,301

-

Retained earnings

(879,770

)

(692,730

)

SHAREHOLDERS' FUNDS

918,731

(692,530

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 23 December 2019 and were signed by:

S Bakhsh - Director

1.	STATUTORY INFORMATION

Trident (Scotland) Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company has a net surplus on the balance sheet at 31 March 2019 of £918,731 and net current liabilities of

£1,272,283 (31.03.18 £1,018,600). The financial statements have been prepared on a going concern basis which

assumes that the company will continue in operational existence in the foreseeable future. The directors

consider this to be the appropriate basis to use based on their knowledge of the business.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on cost and 10% on cost

Investment property

Investment property is included at fair value. Gains are recognised to the profit and loss account. Deferred

taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to or from related parties and investments in non-puttable ordinary shares.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

56,109

Additions

8,805

At 31 March 2019

64,914

DEPRECIATION

At 1 April 2018

11,788

Charge for year

18,895

At 31 March 2019

30,683

NET BOOK VALUE

At 31 March 2019

34,231

At 31 March 2018

44,321

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

1,821,749

Additions

116,588

Revaluations

2,061,663

At 31 March 2019

4,000,000

NET BOOK VALUE

At 31 March 2019

4,000,000

At 31 March 2018

1,821,749

Fair value at 31 March 2019 is represented by:

£

Valuation in 2019

4,000,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.3.19

31.3.18

£

£

Cost

1,938,337

1,821,769

The Investment property was valued on an open market basis on 4 March 2019 by Jones Lang LaSalle .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

20,370

12,598

Other debtors

66,691

139,658

87,061

152,256

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

19,283

21,000

Trade creditors

99,882

84,230

Taxation and social security

454

6,546

Other creditors

1,246,541

1,071,135

1,366,160

1,182,911

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

1,393,202

1,400,000

Other creditors

184,736

140,000

1,577,938

1,540,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,296,613

1,316,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

Within one year

666

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

1,412,485

1,421,000

Aldermore Bank Plc hold a standard security over the company's property and a floating charge over the whole

undertaking and property (including uncalled capital).

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

200

Ordinary

£1

200

200

12.

RESERVES

Fair

value

reserve

£

Fair Value Reserve

2,061,663

Deferred Tax on Revaluation

(263,362

)

At 31 March 2019

1,798,301

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year Shazad Bakhsh introduced funds of £310,822 and was repaid £53,968. The opening balance was

a debit figure of £72,118, thus leaving a balance owed to him of £184,736.

14.	RELATED PARTY DISCLOSURES

Scotsbridge Commercial Ltd

A company in which Shazad Bakhsh is a director and shareholder. Trident (Scotland) Ltd loaned

Scotsbridge Commercial Ltd loaned the company £79,762 in the year. The balance owing at the year end is

£22,824 (2018 - £10,823).

Poseidon Holdings Ltd

A company in which Shazad Bakhsh is a director and shareholder. There is an outstanding balance owed by

Poseidon Holdings Ltd of £3,900 (2018 - £3,900).

Caerus Periousia Ltd

The company loaned Caerus Periousia Ltd £5,000 in the year which is still outstanding at the year end, (Nil -

2018).

Newton Mearns Projects Ltd

Newton Mearns Properties Ltd loaned the company £31,000 in the year and were repaid £319. There is an

outstanding balance owed by the company of £150,664 (2018 - £119,983).

Bakhsh Group Ltd

A company in which Shazad Bakhsh is a director and shareholder. Trident (Scotland) Ltd loaned Bakhsh Group

Ltd £70,000 in the year and was repaid prior to the year end. The balance owed to Bakhsh Group Ltd on 31

March 2019 is the £16,000 brought forward from the prior year.

Etimon Ltd

A company in which Shazad Bakhsh's wife is the director and shareholder. There is a balance outstanding at the

year end of £18,520 (2018 - £18,520).

Sauchiehall Commercial Investments Ltd

A company in which Shazad Bakhsh is a director and shareholder. Trident (Scotland) Ltd repaid £150 in the

year leaving an outstanding balance owed of £12,550 (2018-£12,700).

Peninsula Ventures Ltd

A company in which Shazad Bakhsh is a director and shareholder. Peninsula Ventures loaned the company

£100,000 in the year, leaving a balance at the year end of £71,095 (2018 - 28,905).