Trinity Event Solutions Limited - Period Ending 2019-09-30
Trinity Event Solutions Limited - Period Ending 2019-09-30
Registration number:
Trinity Event Solutions Limited
for the Year Ended 30 September 2019
Trinity Event Solutions Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Trinity Event Solutions Limited
(Registration number: 05896771)
Balance Sheet as at 30 September 2019
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2019 |
2018 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Trinity Event Solutions Limited
(Registration number: 05896771)
Balance Sheet as at 30 September 2019
Mrs J Kavanagh-Wade
Director
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Trinity Event Solutions Limited
Notes to the Financial Statements for the Year Ended 30 September 2019
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor vehciles |
25% straight line basis |
Computer and office equipment |
20% straight line basis |
Fixtures and fittings |
15% reducing balance basis |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Intangible Software Development |
Straight line basis over 5 years on completion of project |
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Trinity Event Solutions Limited
Notes to the Financial Statements for the Year Ended 30 September 2019
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Trinity Event Solutions Limited
Notes to the Financial Statements for the Year Ended 30 September 2019
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Intangible assets |
Internally generated software development costs |
Total |
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Cost or valuation |
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At 1 October 2018 |
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Additions internally developed |
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Additions acquired separately |
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At 30 September 2019 |
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Amortisation |
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Amortisation charge |
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At 30 September 2019 |
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Carrying amount |
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At 30 September 2019 |
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At 30 September 2018 |
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Trinity Event Solutions Limited
Notes to the Financial Statements for the Year Ended 30 September 2019
Tangible assets |
Furniture, fittings and equipment |
Computer software development and equipment |
Total |
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Cost or valuation |
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At 1 October 2018 |
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Additions |
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At 30 September 2019 |
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Depreciation |
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At 1 October 2018 |
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Charge for the year |
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At 30 September 2019 |
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Carrying amount |
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At 30 September 2019 |
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At 30 September 2018 |
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Debtors |
2019 |
2018 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Trinity Event Solutions Limited
Notes to the Financial Statements for the Year Ended 30 September 2019
Creditors |
Note |
2019 |
2018 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2019 |
2018 |
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Non-current loans and borrowings |
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Bank borrowings |
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2019 |
2018 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
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Bank borrowings
The director, Mrs J Kavanagh-Wade has pledged a personal guarantee in respect of the company borrowings in favour of The Royal Bank of Scotland plc for £225,000.
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Trinity Event Solutions Limited
Notes to the Financial Statements for the Year Ended 30 September 2019
Other borrowings
Funding Circle with a carrying amount of £330,310 (2018 - £239,167) is denominated in Sterling with a nominal interest rate of 4.6%. The final instalment is due on 12 December 2023.
The director, Mrs J Kavanagh-Wade, has pledged a personal guarantee in support of the loan borrowings up to the amount of maximum borrowings of £360,000.
Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £
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