Company Registration No. 09127931 (England and Wales)
Trivirtual Ltd
Unaudited accounts
for the year ended 31 July 2019
Trivirtual Ltd
Unaudited accounts
Contents
Trivirtual Ltd
Company Information
for the year ended 31 July 2019
Company Number
09127931 (England and Wales)
Registered Office
61 GREEN LANE
BRAUGHING
WARE
SG11 2QW
Accountants
WRENSFIELD LTD
SUITE 60, 17 HOLYWELL HILL
ST ALBANS
HERTS
AL1 1DT
Trivirtual Ltd
Statement of financial position
as at 31 July 2019
Tangible assets
17,977
21,526
Cash at bank and in hand
2,139
14,760
Creditors: amounts falling due within one year
(113,413)
(62,366)
Net current liabilities
(34,541)
(26,618)
Total assets less current liabilities
(16,564)
(5,092)
Creditors: amounts falling due after more than one year
(52,333)
(64,817)
Net liabilities
(68,897)
(69,909)
Called up share capital
120
120
Profit and loss account
(69,017)
(70,029)
Shareholders' funds
(68,897)
(69,909)
For the year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 March 2020.
I Cox
Director
Company Registration No. 09127931
Trivirtual Ltd
Notes to the Accounts
for the year ended 31 July 2019
Trivirtual Ltd is a private company, limited by shares, registered in England and Wales, registration number 09127931. The registered office is 61 GREEN LANE, BRAUGHING, WARE, SG11 2QW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Fixtures & fittings
8 Years Straight Line
Computer equipment
33% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence of the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Trivirtual Ltd
Notes to the Accounts
for the year ended 31 July 2019
4
Tangible fixed assets
Total
Allotted, called up and fully paid:
120 Ordinary shares of £1 each
120
120
6
Operating lease commitments
2019
2018
At 31 July 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
45,014
41,030
7
Transactions with related parties
During the year, the company received loans amounting to £69,151 (2018: £48,901) from members of key management personnel. The loans will not be withdrawn until the company has sufficient funds to pay without affecting the cashflow of the company. The loans are interest free and repayable on demand. At the balance sheet date, the loans were still outstanding and are presented within creditors: amounts falling due within one year.
During the year, the company provided loans amounting to £1,208 (2018: £0) to Vire (Aylesbury) Ltd, £3,624 (2018: £0) to Aylesburyescaperooms Ltd and £61,933 (2018: £0) to Escapebishopstortford Ltd. The loans are interest free and repayable on demand. All of these companies are under common control.
The Ultimate Controlling Party is the director I Cox and M Harris by virtue of their shareholding in Trivirtual Ltd.
9
Average number of employees
During the year the average number of employees was 4 (2018: 7).
