Trident Investments (London) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06638315 (England and Wales)

TRIDENT INVESTMENTS (LONDON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

H Parmar

REGISTERED OFFICE:

100 Boldmere Road

Sutton Coldfield

West Midlands

B73 5UB

REGISTERED NUMBER:

06638315 (England and Wales)

ACCOUNTANTS:

Weatherer Bailey Bragg

Chartered Accountants

100 Boldmere Road

Sutton Coldfield

West Midlands

B73 5UB

FIXED ASSETS

Tangible assets

4

6,312

7,425

CURRENT ASSETS

Stocks

234,070

234,070

Debtors

5

1,214

-

Cash at bank

11,492

33,795

246,776

267,865

CREDITORS

Amounts falling due within one year

6

(106,599

)

(124,325

)

NET CURRENT ASSETS

140,177

143,540

TOTAL ASSETS LESS CURRENT LIABILITIES

146,489

150,965

PROVISIONS FOR LIABILITIES

(1,199

)

(1,411

)

NET ASSETS

145,290

149,554

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

145,289

149,553

SHAREHOLDERS' FUNDS

145,290

149,554

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 and authorised for issue on 16 February 2023 and were signed by:

H Parmar - Director

1.	STATUTORY INFORMATION

Trident Investments (London) 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.

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.

Turnover

Turnover represents commissions received and income from the sale of properties and is measured at the fair value of the consideration received or receivable net of trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of properties is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on completion.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from services provided is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Rental Income

Rental income is recognised in the income statement in the period to which it relates.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stock comprises of properties held for resale.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2021

and 31 July 2022

15,621

1,949

17,570

DEPRECIATION

At 1 August 2021

8,196

1,949

10,145

Charge for year

1,113

-

1,113

At 31 July 2022

9,309

1,949

11,258

NET BOOK VALUE

At 31 July 2022

6,312

-

6,312

At 31 July 2021

7,425

-

7,425

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/22

31/7/21

£

£

Corporation tax recoverable

756

-

Prepayments

458

-

1,214

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/22

31/7/21

£

£

Trade creditors

1,427

214

Corporation tax payable

-

3,654

Directors' loan accounts

100,041

119,167

Accrued expenses

5,131

1,290

106,599

124,325

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/7/22

31/7/21

value:

£

£

1

Ordinary

£1

1

1

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2022 and 31 July 2021:

31/7/22

31/7/21

£

£

H Parmar

Balance outstanding at start of year

(119,167

)

(15,277

)

Amounts advanced

39,696

219,393

Amounts repaid

(20,570

)

(323,283

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(100,041

)

(119,167

)

No interest is charged on directors loans. Amounts are repayable on demand.