Trisec Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02090415 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

TRISEC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M A Allen

SECRETARY:

Mrs N A Allen

REGISTERED OFFICE:

Unit 3

Richardson House

Sherwood Avenue

Newark

Nottinghamshire

NG24 1QF

REGISTERED NUMBER:

02090415 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

FIXED ASSETS

Tangible assets

4

39,586

32,892

CURRENT ASSETS

Stocks

4,118

4,494

Debtors

5

59,270

54,822

Cash at bank and in hand

230,569

242,705

293,957

302,021

CREDITORS

Amounts falling due within one year

6

132,026

135,233

NET CURRENT ASSETS

161,931

166,788

TOTAL ASSETS LESS CURRENT LIABILITIES

201,517

199,680

PROVISIONS FOR LIABILITIES

8

7,521

6,249

NET ASSETS

193,996

193,431

CAPITAL AND RESERVES

Called up share capital

9

56

56

Capital redemption reserve

44

44

Retained earnings

193,896

193,331

SHAREHOLDERS' FUNDS

193,996

193,431

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th September 2023 and were signed by:

M A Allen - Director

1.	STATUTORY INFORMATION

Trisec 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.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2022

6,595

9,297

50,892

14,586

81,370

Additions

365

-

19,611

-

19,976

Disposals

(1,283

)

(4,519

)

(11,795

)

(9,771

)

(27,368

)

At 31st March 2023

5,677

4,778

58,708

4,815

73,978

DEPRECIATION

At 1st April 2022

4,817

8,722

21,798

13,141

48,478

Charge for year

498

144

7,879

362

8,883

Eliminated on disposal

(1,235

)

(4,471

)

(7,770

)

(9,493

)

(22,969

)

At 31st March 2023

4,080

4,395

21,907

4,010

34,392

NET BOOK VALUE

At 31st March 2023

1,597

383

36,801

805

39,586

At 31st March 2022

1,778

575

29,094

1,445

32,892

5.

DEBTORS

31/3/23

31/3/22

£

£

Amounts falling due within one year:

Trade debtors

27,484

49,490

Loan

5,000

-

Prepayments

6,786

5,332

39,270

54,822

Amounts falling due after more than one year:

Loan

20,000

-

Aggregate amounts

59,270

54,822

The loan is to Physical Health & Performance Limited (company number 08394378) by an agreement dated 28th February 2023 and is repayable by annual amounts of £5,000 commencing on 28th February 2024 over five years. Interest at a rate of 4% is to be waivered provided that all repayments occur on their due dates. The loan is due to be repaid by 28th February 2028.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/23

31/3/22

£

£

Other loans

34,330

37,708

Hire purchase contracts

-

278

Trade creditors

25,020

25,077

Tax

11,529

7,863

Social security and other taxes

14,557

16,920

Other creditors

815

553

Receipts in advance

6,806

6,913

Directors' current accounts

34,538

37,916

Accrued expenses

4,431

2,005

132,026

135,233

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/23

31/3/22

£

£

Hire purchase contracts

-

278

8.	PROVISIONS FOR LIABILITIES

31/3/23

31/3/22

£

£

Deferred tax

7,521

6,249

Deferred

tax

£

Balance at 1st April 2022

6,249

Accelerated capital allowances

1,272

Balance at 31st March 2023

7,521

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/23

31/3/22

value:

£

£

100

Ordinary

1

56

56

10.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st March 2023 (2022 - nil).

11.	CAPITAL COMMITMENTS

31/3/23

31/3/22

£

£

Contracted but not provided for in the

financial statements

-

-

12.	ULTIMATE CONTROLLING PARTY

Mr M A Allen and Mrs N A Allen together own 100% of the issued share capital of the company.