Triscan Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06369088 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2020

for

TRISCAN SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Lamont

A L Whittaker

J E Black

REGISTERED OFFICE:

Unit 4 Petre Court

Clayton Business Park

Clayton-le-Moors

Accrington

Lancashire

BB5 5HY

REGISTERED NUMBER:

06369088 (England and Wales)

ACCOUNTANTS:

Haworths Limited

Chartered Accountants

The Old Tannery

Eastgate

Accrington

Lancashire

BB5 6PW

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

617,843

663,206

Investments

7

903,401

903,401

1,521,244

1,566,607

CURRENT ASSETS

Stocks

416,546

249,103

Debtors

8

1,267,599

1,243,163

Cash at bank

2,510,182

2,425,492

4,194,327

3,917,758

CREDITORS

Amounts falling due within one year

9

2,673,414

2,486,024

NET CURRENT ASSETS

1,520,913

1,431,734

TOTAL ASSETS LESS CURRENT LIABILITIES

3,042,157

2,998,341

CREDITORS

Amounts falling due after more than one year

10

(565,148

)

(676,441

)

PROVISIONS FOR LIABILITIES

(38,765

)

(51,276

)

NET ASSETS

2,438,244

2,270,624

CAPITAL AND RESERVES

Called up share capital

8,333

8,333

Share premium

12

2,917

2,917

Capital redemption reserve

12

243,750

243,750

Retained earnings

12

2,183,244

2,015,624

SHAREHOLDERS' FUNDS

2,438,244

2,270,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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 12 April 2021 and were signed on its behalf by:

D J Lamont - Director

1.	STATUTORY INFORMATION

Triscan Systems 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Triscan Systems Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents amounts receivable for goods and services net of value added tax and trade discounts.

Amounts received in advance in respect of maintenance contracts and software licences are recognised as a liability, income is then recognised when right to the consideration occurs over the period of the contract.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, has been fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and building

-

10% on cost and 2% on cost

Plant and machinery

-

33% on cost and 20% on cost

Fixtures and fittings

-

33% on cost and 20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost and 20% on cost

Government grants

Grants are accounted under the accruals model. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in profit or loss in the same period as the related expenditure. Grants of a revenue nature for which there are no future performance-related conditions and costs are recognised as income in the period in which they become receivable.

Investments in subsidiaries

Interest in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recoginsed immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain from its activities.

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 material 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease terms, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Impairment of fixed assets

At each reporting date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2019 - 39 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2019

and 31 August 2020

487,616

AMORTISATION

At 1 September 2019

and 31 August 2020

487,616

NET BOOK VALUE

At 31 August 2020

-

At 31 August 2019

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

building

machinery

fittings

£

£

£

COST

At 1 September 2019

528,817

19,763

201,641

Additions

-

726

1,188

Disposals

-

-

-

At 31 August 2020

528,817

20,489

202,829

DEPRECIATION

At 1 September 2019

84,674

17,600

178,448

Charge for year

10,521

661

7,456

Eliminated on disposal

-

-

-

At 31 August 2020

95,195

18,261

185,904

NET BOOK VALUE

At 31 August 2020

433,622

2,228

16,925

At 31 August 2019

444,143

2,163

23,193

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2019

380,763

132,395

1,263,379

Additions

57,378

6,827

66,119

Disposals

(143,681

)

-

(143,681

)

At 31 August 2020

294,460

139,222

1,185,817

DEPRECIATION

At 1 September 2019

223,813

95,638

600,173

Charge for year

68,952

7,691

95,281

Eliminated on disposal

(127,480

)

-

(127,480

)

At 31 August 2020

165,285

103,329

567,974

NET BOOK VALUE

At 31 August 2020

129,175

35,893

617,843

At 31 August 2019

156,950

36,757

663,206

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 September 2019

35,390

Transfer to ownership

(35,390

)

At 31 August 2020

-

DEPRECIATION

At 1 September 2019

17,696

Transfer to ownership

(17,696

)

At 31 August 2020

-

NET BOOK VALUE

At 31 August 2020

-

At 31 August 2019

17,694

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2019

and 31 August 2020

903,401

NET BOOK VALUE

At 31 August 2020

903,401

At 31 August 2019

903,401

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

652,603

739,194

Amounts owed by group undertakings

458,329

458,645

Other debtors

156,667

45,324

1,267,599

1,243,163

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

-

417

Trade creditors

167,554

189,287

Amounts owed to group undertakings

798,660

841,230

Taxation and social security

174,271

223,146

Other creditors

1,532,929

1,231,944

2,673,414

2,486,024

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

565,148

676,441

11.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

-

417

The hire purchase contracts are secured on the assets to which they relate.

12.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 September 2019

2,015,624

2,917

243,750

2,262,291

Profit for the year

427,620

427,620

Dividends

(260,000

)

(260,000

)

At 31 August 2020

2,183,244

2,917

243,750

2,429,911

13.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had operating lease commitments of £7,920 (2019 - £8,673).

14.	RELATED PARTY DISCLOSURES

At the year end the company was owed £458,329 (2019 - £458,329) from the holding company and £nil (2019 - £315) from various subsidiaries.

Also at the year end the company owed £798,659 (2019 - £841,231) to various subsidiaries.

These loans are interest free and there are no fixed repayment terms.