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 2018

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

SECRETARY:

Morton Fraser Secretaries Limited

REGISTERED OFFICE:

4 Petre Road

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

677,446

556,887

Investments

7

842,145

531,349

1,519,591

1,088,236

CURRENT ASSETS

Stocks

279,866

251,994

Debtors

8

1,266,365

1,662,469

Cash at bank

2,053,383

1,606,287

3,599,614

3,520,750

CREDITORS

Amounts falling due within one year

9

2,169,229

2,299,033

NET CURRENT ASSETS

1,430,385

1,221,717

TOTAL ASSETS LESS CURRENT LIABILITIES

2,949,976

2,309,953

CREDITORS

Amounts falling due after more than one year

10

(709,022

)

(490,000

)

PROVISIONS FOR LIABILITIES

(48,513

)

(19,685

)

NET ASSETS

2,192,441

1,800,268

CAPITAL AND RESERVES

Called up share capital

8,333

8,333

Share premium

13

2,917

2,917

Capital redemption reserve

13

243,750

243,750

Retained earnings

13

1,937,441

1,545,268

2,192,441

1,800,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 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 28 January 2019 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 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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to

prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group.

The financial statements present information about the company as an individual entity and not about its group.

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 amortised evenly

over its estimated useful life of ten years.

Tangible fixed assets

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

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

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

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 39 (2017 - 42 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2017

and 31 August 2018

487,616

AMORTISATION

At 1 September 2017

and 31 August 2018

487,616

NET BOOK VALUE

At 31 August 2018

-

At 31 August 2017

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

building

machinery

fittings

£

£

£

COST

At 1 September 2017

528,817

17,060

172,687

Additions

-

-

11,253

At 31 August 2018

528,817

17,060

183,940

DEPRECIATION

At 1 September 2017

63,633

17,368

165,018

Charge for year

10,520

(308

)

4,627

Eliminated on disposal

-

-

-

At 31 August 2018

74,153

17,060

169,645

NET BOOK VALUE

At 31 August 2018

454,664

-

14,295

At 31 August 2017

465,184

(308

)

7,669

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2017

264,097

86,797

1,069,458

Additions

161,139

36,310

208,702

Disposals

(26,610

)

-

(26,610

)

At 31 August 2018

398,626

123,107

1,251,550

DEPRECIATION

At 1 September 2017

189,339

77,213

512,571

Charge for year

57,690

9,239

81,768

Eliminated on disposal

(20,235

)

-

(20,235

)

At 31 August 2018

226,794

86,452

574,104

NET BOOK VALUE

At 31 August 2018

171,832

36,655

677,446

At 31 August 2017

74,758

9,584

556,887

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2017

531,349

Additions

310,796

At 31 August 2018

842,145

NET BOOK VALUE

At 31 August 2018

842,145

At 31 August 2017

531,349

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

504,149

580,596

Amounts owed by group undertakings

717,720

490,000

Other debtors

44,496

591,873

1,266,365

1,662,469

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts (see note 11)

31,770

-

Trade creditors

108,333

140,432

Amounts owed to group undertakings

466,358

234,299

Taxation and social security

165,327

258,417

Other creditors

1,397,441

1,665,885

2,169,229

2,299,033

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

709,022

490,000

11.	LEASING AGREEMENTS

At the balance sheet date the company had operating lease commitments of £2,070 (2017 - £20,824).

12.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

31,770

-

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

13.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 September 2017

1,545,268

2,917

243,750

1,791,935

Profit for the year

612,173

612,173

Dividends

(220,000

)

(220,000

)

At 31 August 2018

1,937,441

2,917

243,750

2,184,108

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2018 and

31 August 2017:

2018

2017

£

£

D J Lamont

Balance outstanding at start of year

550,000

550,000

Amounts advanced

643,000

-

Amounts repaid

(1,193,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

550,000

Interest was charged by the company on this loan at a market rate.

The loan was fully repaid in the year.