Trochilics Limited 31/10/2023 iXBRL

Trochilics Limited 31/10/2023 iXBRL

TROCHILICS LIMITED - Company Information

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0 31/10/2023 2023-10-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2022-11-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 02318958 2022-11-01 2023-10-31 02318958 2023-10-31 02318958 2022-10-31 02318958 2021-11-01 2022-10-31 02318958 2022-10-31 02318958 bus:Director1 2022-11-01 2023-10-31 02318958 core:WithinOneYear 2023-10-31 02318958 core:WithinOneYear 2022-10-31 02318958 core:ShareCapital 2023-10-31 02318958 core:ShareCapital 2022-10-31 02318958 core:RetainedEarningsAccumulatedLosses 2023-10-31 02318958 core:RetainedEarningsAccumulatedLosses 2022-10-31 02318958 bus:Director1 2022-10-31 02318958 bus:Director1 2023-10-31 02318958 bus:Director1 2021-10-31 02318958 bus:Director1 2022-10-31 02318958 bus:Director1 2021-11-01 2022-10-31 02318958 bus:SmallEntities 2022-11-01 2023-10-31 02318958 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 02318958 bus:FullAccounts 2022-11-01 2023-10-31 02318958 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 02318958 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31
Company registration number: 02318958
Trochilics Limited
Unaudited filleted financial statements
31 October 2023
Trochilics Limited
Contents
Statement of financial position
Notes to the financial statements
Trochilics Limited
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Current assets
Stocks 306,499 319,056
Debtors 5 136,837 173,694
Cash at bank and in hand 92,219 30,460
_______ _______
535,555 523,210
Creditors: amounts falling due
within one year 6 ( 53,295) ( 55,529)
_______ _______
Net current assets 482,260 467,681
_______ _______
Total assets less current liabilities 482,260 467,681
_______ _______
Net assets 482,260 467,681
_______ _______
Capital and reserves
Called up share capital 16,317 16,317
Profit and loss account 465,943 451,364
_______ _________
Shareholders funds 482,260 467,681
_______ _______
For the year ending 31 October 2023 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 20 March 2024 , and are signed on behalf of the board by:
J.L Innocent Howard Innocent
Director Director
Company registration number: 02318958
Trochilics Limited
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 169 New London Road, Chelmsford, Essex, CM2 0AE.
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'.
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.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Taxation
The taxation expense represents the aggregate amount of current 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.
Stocks
Stocks are measured 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 the stocks to their present location and condition.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other receivables and payables. Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
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.
4. Operating profit
Operating profit is stated after charging/(crediting):
2023 2022
£ £
Impairment of trade debtors 20,171 -
Foreign exchange differences 11,988 ( 4,026)
Fees payable for the audit of the financial statements - ( 2,765)
_______ _______
5. Debtors
2023 2022
£ £
Trade debtors 134,826 149,695
Other debtors 2,011 23,999
_______ _______
136,837 173,694
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 14,343 20,387
Corporation tax 15,914 31,875
Other creditors 23,038 3,267
_______ _______
53,295 55,529
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
J.L. Innocent 806 ( 3,972) - ( 3,166)
_______ _______ _______ _______
806 ( 3,972) - ( 3,166)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
J.L. Innocent ( 1,424) ( 15,526) 17,756 806
_______ _______ _______ _______
8. Controlling party
The company is controlled by its parent undertaking, Precision Balancing Limited, a company also incorporated in the United Kingdom.