Trident Building Consultancy Limited - Accounts to registrar (filleted) - small 23.2.5
Trident Building Consultancy Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 March 2023 |
| for |
| Trident Building Consultancy Limited |
| Trident Building Consultancy Limited (Registered number: 03616946) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Trident Building Consultancy Limited |
| Company Information |
| for the Year Ended 31 March 2023 |
| Directors: |
| Registered office: |
| Registered number: |
| Auditors: |
| Market House |
| 10 Market Walk |
| Saffron Walden |
| England |
| CB10 1JZ |
| Trident Building Consultancy Limited (Registered number: 03616946) |
| Balance Sheet |
| 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 8 |
| Share premium | 9 |
| Capital redemption reserve | 9 |
| Retained earnings | 9 |
| Shareholders' funds |
| 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 |
| Trident Building Consultancy Limited (Registered number: 03616946) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2023 |
| 1. | Statutory information |
| Trident Building Consultancy Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. |
| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3). |
| The following principal accounting policies have been applied: |
| Leasing and hire purchase contracts |
| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are change to income statement on a straight line basis. |
| Turnover |
| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
| Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. |
| Depreciation is provided on the following basis: |
| Plant and machinery - 25% on cost |
| Fixtures and fittings - 15% on cost |
| Computer equipment - 33% on cost |
| Leasehold - 10 years |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of income statement. |
| Investments in subsidiaries |
| Investments in subsidiaries are measured at cost less accumulated impairment. |
| Trident Building Consultancy Limited (Registered number: 03616946) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 2. | Accounting policies - continued |
| Current and deferred taxation |
| Tax is recognised in the statement of income statement, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
| The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
| Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. |
| Pensions defined contribution pension plan |
| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. |
| The contributions are recognised as an expense in the statement of income statement when they fall due. At the reporting date, £50,644 remained payable (2022 - £25,449). The assets of the plan are held separately from the company in independently administered funds. |
| Foreign currencies |
| Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. |
| 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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Trident Building Consultancy Limited (Registered number: 03616946) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 4. | Tangible fixed assets |
| Fixtures |
| Leasehold | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 April 2022 |
| Additions |
| At 31 March 2023 |
| Depreciation |
| At 1 April 2022 |
| Charge for year |
| At 31 March 2023 |
| Net book value |
| At 31 March 2023 |
| At 31 March 2022 |
| 5. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 April 2022 |
| Disposals | ( |
) |
| At 31 March 2023 |
| Net book value |
| At 31 March 2023 |
| At 31 March 2022 |
| 6. | Debtors |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Other loans | 20,488 | - |
| Directors' current accounts | 4,925 | 160,469 |
| Accrued income |
| Prepayments |
| Trident Building Consultancy Limited (Registered number: 03616946) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 6. | Debtors - continued |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due after more than one year: |
| Other debtors |
| Loan to Trident Building |
| Surveying |
| and Project Management | - | 48,347 |
| Aggregate amounts |
| 7. | Creditors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 333,352 | 349,705 |
| Other creditors |
| Pension Fund | 50,644 | 25,449 |
| Accrued expenses |
| 8. | Called up share capital |
| Alloted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| Value: | £ | £ |
| 58,380 | Ordinary shares | 0.005 | 292 | 292 |
| 9. | Reserves |
| Share premium account |
| Share premium account represents the amount by which the consideration received by the company for shares issued exceeds its nominal value. |
| Retained earnings |
| Retained earnings represents cumulative profits or losses, net of dividends paid and other adjustments. |
| Contributions of £1,593,599 were transferred to the EOT during the year. |
| 10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| Trident Building Consultancy Limited (Registered number: 03616946) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 11. | Directors' advances, credits and guarantees |
| The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022: |
| 2023 | 2022 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest charged on director's loan account during the period as follows:- |
| Owen Pottle - £244 |
| The overdrawn balance in the director's loan accounts were all repaid within the year to the reporting period end, excluding O Pottle. A balance of £1,935.40 remains outstanding at the submission date of this report. |
| Trident Building Consultancy Limited (Registered number: 03616946) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 12. | Controlling party |
| During the year to the reporting period end, the company executed an EOT transaction with the Employee Ownership Trust acquiring 100% of the company. As a result of its 100% ownership of Trident Building Consultancy Limited, it is of the opinion of the directors that Employee Ownership Trust is the ultimate controlling party. |
| 13. | Related party transactions |
| Included within other loans is a loan to Trident Building Surveying and Project Management Limited, a 70% owned subsidiary of Trident Building Consultancy Limited. Trident Building Surveying and Project Management Limited was a subsidiary until 27 June 2022. |
| 14. | Other commitments |
| At 31 March 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those of £597,302 (2022 : 303,216) |