Tricorbraun Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08154351 (England and Wales)

TRICORBRAUN LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K J Strope

N E Tzinberg

D McCarthy

C W Kibler

Ms B K Mathews

SECRETARY:

EBS Corporate Services Limited

REGISTERED OFFICE:

Innovation Centre

Warwick Technology Park

Warwick

Warwickshire

CV34 6UW

REGISTERED NUMBER:

08154351 (England and Wales)

AUDITORS:

Murphy Salisbury Limited

Chartered Accountants and Statutory Auditors

15 Warwick Road

Stratford upon Avon

Warwickshire

CV37 6YW

FIXED ASSETS

Tangible assets

4

6,318

73

CURRENT ASSETS

Stocks

70,695

345,843

Debtors

5

1,177,266

1,363,347

Cash at bank

2,245,218

942,213

3,493,179

2,651,403

CREDITORS

Amounts falling due within one year

6

1,429,556

1,405,499

NET CURRENT ASSETS

2,063,623

1,245,904

TOTAL ASSETS LESS CURRENT LIABILITIES

2,069,941

1,245,977

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,069,841

1,245,877

SHAREHOLDERS' FUNDS

2,069,941

1,245,977

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 Board of Directors and authorised for issue on 16 December 2022 and were signed on its behalf by:

Ms B K Mathews - Director

1.	STATUTORY INFORMATION

Tricorbraun Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

25% straight line basis

Plant and machinery

-

33% straight line basis

Computer equipment

-

33% straight line basis

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 5 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2021

1,221

4,978

6,249

12,448

Additions

6,318

-

-

6,318

Disposals

-

-

(5,085

)

(5,085

)

At 31 December 2021

7,539

4,978

1,164

13,681

DEPRECIATION

At 1 January 2021

1,148

4,978

6,249

12,375

Charge for year

73

-

-

73

Eliminated on disposal

-

-

(5,085

)

(5,085

)

At 31 December 2021

1,221

4,978

1,164

7,363

NET BOOK VALUE

At 31 December 2021

6,318

-

-

6,318

At 31 December 2020

73

-

-

73

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,009,680

1,192,777

Amounts owed by group undertakings

85,789

40,836

Other debtors

81,797

129,734

1,177,266

1,363,347

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

455,060

375,616

Amounts owed to group undertakings

792,194

826,932

Taxation and social security

159,451

116,656

Other creditors

22,851

86,295

1,429,556

1,405,499

7.	LEASING AGREEMENTS

At 31 December 2021 the company had total commitments under non-cancellable operating leases of £93,500 (2020: £30,118).

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Bullock FCA (Senior Statutory Auditor)

for and on behalf of Murphy Salisbury Limited

9.	ULTIMATE CONTROLLING PARTY

The controlling party is The Packaging Design Group LLC, a company registered in the USA.

The ultimate controlling party is AOT Packaging Products, L.P., a company registered in the USA.

Both the controlling party and ultimate controlling party are non-public companies in the territory they are incorporated and as such accounts are not made publicly available.