Trinity Funeral Services Limited 31/07/2020 iXBRL

Trinity Funeral Services Limited 31/07/2020 iXBRL

TRINITY FUNERAL SERVICES LIMITED - Company Information

Print Friendly Version

4 31/07/2020 2020-07-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2019-08-01 Sage Accounts Production 2020 Update 1 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 06232201 2019-08-01 2020-07-31 06232201 2020-07-31 06232201 2019-07-31 06232201 2018-08-01 2019-07-31 06232201 2019-07-31 06232201 core:LandBuildings core:OwnedOrFreeholdAssets 2019-08-01 2020-07-31 06232201 core:FurnitureFittingsToolsEquipment 2019-08-01 2020-07-31 06232201 core:MotorVehicles 2019-08-01 2020-07-31 06232201 bus:OrdinaryShareClass1 2019-08-01 2020-07-31 06232201 bus:Director1 2019-08-01 2020-07-31 06232201 core:LandBuildings core:LongLeaseholdAssets 2019-07-31 06232201 core:FurnitureFittingsToolsEquipment 2019-07-31 06232201 core:LandBuildings core:LongLeaseholdAssets 2020-07-31 06232201 core:FurnitureFittingsToolsEquipment 2020-07-31 06232201 core:WithinOneYear 2020-07-31 06232201 core:WithinOneYear 2019-07-31 06232201 core:AfterOneYear 2020-07-31 06232201 core:AfterOneYear 2019-07-31 06232201 core:ShareCapital 2020-07-31 06232201 core:ShareCapital 2019-07-31 06232201 core:RetainedEarningsAccumulatedLosses 2020-07-31 06232201 core:RetainedEarningsAccumulatedLosses 2019-07-31 06232201 bus:OrdinaryShareClass1 core:ShareCapital 2020-07-31 06232201 bus:OrdinaryShareClass1 core:ShareCapital 2019-07-31 06232201 core:FurnitureFittingsToolsEquipment 2019-07-31 06232201 bus:SmallEntities 2019-08-01 2020-07-31 06232201 bus:AuditExempt-NoAccountantsReport 2019-08-01 2020-07-31 06232201 bus:FullAccounts 2019-08-01 2020-07-31 06232201 bus:SmallCompaniesRegimeForAccounts 2019-08-01 2020-07-31 06232201 bus:PrivateLimitedCompanyLtd 2019-08-01 2020-07-31
REGISTRAR
Company registration number: 06232201
Trinity Funeral Services Limited
Unaudited filleted financial statements
31 July 2020
Trinity Funeral Services Limited
Contents
Statement of financial position
Notes to the financial statements
Trinity Funeral Services Limited
Statement of financial position
31 July 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 3,056 919
_______ _______
3,056 919
Current assets
Debtors 6 135,604 132,637
Cash at bank and in hand 106,846 27,077
_______ _______
242,450 159,714
Creditors: amounts falling due
within one year 7 ( 175,922) ( 89,135)
_______ _______
Net current assets 66,528 70,579
_______ _______
Total assets less current liabilities 69,584 71,498
Creditors: amounts falling due
after more than one year 8 ( 17,871) ( 20,956)
_______ _______
Net assets 51,713 50,542
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 51,613 50,442
_______ _______
Shareholders funds 51,713 50,542
_______ _______
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of 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.
These financial statements were approved by the board of directors and authorised for issue on 15 April 2021 , and are signed on behalf of the board by:
Mr A. Savell- Boss
Director
Company registration number: 06232201
Trinity Funeral Services Limited
Notes to the financial statements
Year ended 31 July 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.The accounts are rounded to the nearest £1.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Freehold property - 10 % straight line
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loan and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2019: 4 ).
5. Tangible assets
Long leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 August 2019 70,132 12,982 83,114
Additions - 2,794 2,794
_______ _______ _______
At 31 July 2020 70,132 15,776 85,908
_______ _______ _______
Depreciation
At 1 August 2019 70,132 12,063 82,195
Charge for the year - 657 657
_______ _______ _______
At 31 July 2020 70,132 12,720 82,852
_______ _______ _______
Carrying amount
At 31 July 2020 - 3,056 3,056
_______ _______ _______
At 31 July 2019 - 919 919
_______ _______ _______
6. Debtors
2020 2019
£ £
Trade debtors 32,128 61,270
Amounts owed by group undertakings and undertakings in which the company has a participating interest 102,928 71,367
Other debtors 548 -
_______ _______
135,604 132,637
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Bank loans and overdrafts 3,000 3,000
Trade creditors 45,885 24,457
Amounts owed to group undertakings and undertakings in which the company has a participating interest 116,235 45,752
Other creditors 10,802 15,926
_______ _______
175,922 89,135
_______ _______
8. Creditors: amounts falling due after more than one year
2020 2019
£ £
Bank loans and overdrafts 17,871 20,956
_______ _______
9. Called up share capital
Issued, called up and fully paid
2020 2019
No £ No £
Ordinary shares shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______