Trinity Investment Management Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08147547 (England and Wales)

Trinity Investment Management Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

S M Hoad

R A O'Boyle

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

08147547 (England and Wales)

Accountants:

Cooper Parry

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

1,672

3,525

Investments

5

573,295

509,525

574,967

513,050

Current assets

Debtors

6

7,422,783

7,174,403

Cash at bank

611,109

356,477

8,033,892

7,530,880

Creditors

Amounts falling due within one year

7

1,158,938

700,780

Net current assets

6,874,954

6,830,100

Total assets less current liabilities

7,449,921

7,343,150

Capital and reserves

Called up share capital

8

100

100

Retained earnings

9

7,449,821

7,343,050

Shareholders' funds

7,449,921

7,343,150

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 June 2024 and were signed on its behalf by:

S M Hoad - Director

1.	Statutory information

Trinity Investment Management 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.

Going Concern

The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover

Turnover is stated net of value added tax and comprises of the following:

Asset Management Fee - for the supply of asset management services carried out in the period, recognised on an accruals basis.

Tangible fixed assets

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

Computer equipment - 4 years straight line basis

Fixtures and fittings - 7 years straight line basis

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement 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.

Fixed assets investments

Fixed assets investments listed as other investments not loans are carried at cost less any provision for impairment.

Fixed assets investments listed as other loans are carried at cost plus accumulated interest less any provision for impairment.

Financial instruments policy

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs

Key sources of estimation, uncertainty and judgements

Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments.

There is estimation uncertainty in calculating bad debt provisions. A review of trade debtors is carried out by the directors regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provision do not match the level of debts which ultimately prove to be uncollectable.

3.	Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 November 2022

and 31 October 2023

6,706

11,845

18,551

Depreciation

At 1 November 2022

4,883

10,143

15,026

Charge for year

958

895

1,853

At 31 October 2023

5,841

11,038

16,879

Net book value

At 31 October 2023

865

807

1,672

At 31 October 2022

1,823

1,702

3,525

5.	Fixed asset investments

2023

2022

£

£

Shares in group undertakings

1,750

1,750

Other investments not loans

42,489

37,899

Other loans

529,056

469,876

573,295

509,525

Additional information is as follows:

Shares in

group

Unlisted

undertakings

investments

Totals

£

£

£

Cost

At 1 November 2022

1,750

37,899

39,649

Additions

-

4,590

4,590

At 31 October 2023

1,750

42,489

44,239

Net book value

At 31 October 2023

1,750

42,489

44,239

At 31 October 2022

1,750

37,899

39,649

Other loans

£

At 1 November 2022

469,876

New in year

59,180

At 31 October 2023

529,056

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

41,821

535,271

Amounts owed by group undertakings

4,308,510

4,224,489

Other debtors

3,072,452

2,414,643

7,422,783

7,174,403

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

503,205

461,893

Taxation and social security

62,908

13,127

Other creditors

592,825

225,760

1,158,938

700,780

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

9.

Reserves

Retained

earnings

£

At 1 November 2022

7,343,050

Profit for the year

286,771

Dividends

(180,000

)

At 31 October 2023

7,449,821

10.	Related party disclosures

Included in other creditors is £32,732 (2022: £35,848) owed to the company directors.

Included in other debtors is £2,174,659 (2022 : £2,174,659) owed by entities under common control.

Included in other debtors is £4,308,510 (2022: £4,224,489) owed by a subsidiary company.

During the year, the company has cost of sales totalling £1,724,302 (2022: £1,124,825) from an entity under common control. At the balance sheet date the outstanding balance was £815,872 (2022: £451,880).