Tricorbraun Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08154351 (England and Wales)

TRICORBRAUN LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Pfister

K J Strope

N E Tzinberg

SECRETARY:

EBS Corporate Services Limited

REGISTERED OFFICE:

Innovation Centre

Gallows Hill

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

8,290

4,944

CURRENT ASSETS

Stocks

121,941

405,609

Debtors

5

649,181

235,069

Cash at bank

613,927

347,289

1,385,049

987,967

CREDITORS

Amounts falling due within one year

6

1,493,037

1,296,522

NET CURRENT LIABILITIES

(107,988

)

(308,555

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(99,698

)

(303,611

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(99,798

)

(303,711

)

SHAREHOLDERS' FUNDS

(99,698

)

(303,611

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 October 2018 and were signed on its behalf by:

N E Tzinberg - 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Plant and machinery etc

-

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.

Going concern

The financial statements have been prepared on a going concern basis despite the company having net liabilities of

£99,698 at the balance sheet date. This includes liabilities to Tricorbraun Inc, the company's parent company of

£1,112,059 (2016: £1,257,783) and the directors have received assurances from Tricorbraun Inc that it will

continue to support the company and not make any call for repayment of the loan that would prevent the company

being able to meet its debts as they fall due.

The directors are projecting the profitability reflected in these 2017 account to continue into 2018.

Under these circumstances the directors are of the opinion that the company is a going concern and will continue to

be so for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

5,085

Additions

7,363

At 31 December 2017

12,448

DEPRECIATION

At 1 January 2017

141

Charge for year

4,017

At 31 December 2017

4,158

NET BOOK VALUE

At 31 December 2017

8,290

At 31 December 2016

4,944

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

627,484

162,066

Other debtors

21,697

73,003

649,181

235,069

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

282,851

25,450

Amounts owed to group undertakings

1,112,059

1,257,783

Taxation and social security

37,574

6,783

Other creditors

60,553

6,506

1,493,037

1,296,522

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

The Report of the Auditors was unqualified.

Emphasis of matter

We draw attention to note 2 in the financial statements, which indicates that although the company has made profits

in the year to 31st December 2017, there were prior losses and the company has net liabilities of £99,698. The

company is dependent upon the continuing support of its holding company. These conditions indicate the existence

of a material uncertainty which may cast significant doubt about the company's ability to continue as a going

concern.

Mark Bullock FCA (Senior Statutory Auditor)

for and on behalf of Murphy Salisbury Limited

8.	OTHER FINANCIAL COMMITMENTS

The company is committed to rent under a lease of £nil (2016: £12,265).

9.	ULTIMATE CONTROLLING PARTY

The controlling party is TricorBraun Inc, a company registered in the USA.

The ultimate controlling party is AEA TCB Holdings LP, a company registered in the USA.

Copies of the group financial statements are available from 6 City Place Drive, Suite 1000, Saint Louis, MO 63141,

United States.