Company No:
Contents
DIRECTORS | Jon Michael Morrell |
Adrian Paul Ryan | |
Anne Marie Ryan |
REGISTERED OFFICE | Browne Jacobson Llp (Cs) 15th Floor |
103 Colmore Row | |
Birmingham | |
B3 3AG | |
United Kingdom |
COMPANY NUMBER | 11796092 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Sigma House | |
Oak View Close | |
Edginswell Park | |
Torquay | |
Devon TQ2 7FF |
Note | 31.01.2023 | 31.01.2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
852,143 | 665,634 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
289,714 | 357,672 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current assets | 38,836 | 297,374 | ||
Total assets less current liabilities | 890,979 | 963,008 | ||
Provision for liabilities |
|
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 8 |
|
|
|
Share premium account |
|
|
||
Profit and loss account | (
|
(
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Trigen Limited (registered number:
Adrian Paul Ryan
Director |
Anne Marie Ryan
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Trigen Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Browne Jacobson Llp (Cs) 15th Floor, 103 Colmore Row, Birmingham, B3 3AG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Other intangible assets |
|
Plant and machinery etc. |
|
31.01.2023 | 31.01.2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 February 2022 |
|
|
|
Additions |
|
|
|
At 31 January 2023 |
|
|
|
Accumulated amortisation | |||
At 01 February 2022 |
|
|
|
Charge for the financial year |
|
|
|
At 31 January 2023 |
|
|
|
Net book value | |||
At 31 January 2023 |
|
|
|
At 31 January 2022 |
|
|
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 February 2022 |
|
|
|
At 31 January 2023 |
|
|
|
Accumulated depreciation | |||
At 01 February 2022 |
|
|
|
Charge for the financial year |
|
|
|
At 31 January 2023 |
|
|
|
Net book value | |||
At 31 January 2023 |
|
|
|
At 31 January 2022 |
|
|
31.01.2023 | 31.01.2022 | ||
£ | £ | ||
Trade debtors |
|
|
|
Corporation tax |
|
|
|
Other debtors |
|
|
|
|
|
31.01.2023 | 31.01.2022 | ||
£ | £ | ||
Trade creditors |
|
|
|
Convertible loan notes |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
The Company issued £200,000 of convertible loan notes on 26th August 2022. The convertible loan notes are convertible into ordinary shares of the Company at any time between the date of issue of the notes and their settlement date provided in the deed. On issue, the loan notes were convertible at a price per loan note equal to a price per share. If the notes have not been converted, they will be redeemed at a later date according to the terms of the deed. Interest of 8 per cent will be paid annually up until that settlement date.
The net proceeds received from the issue of the convertible loan notes are deemed to solely consist of a liability element on the basis that there is no minimum price per share or end date for conversion provided in the deed.
31.01.2023 | |
£ | |
Nominal value of convertible loan notes issued | (200,000) |
Equity component | 0 |
Liability components at date of issue | (200,000) |
Interest charged | (6,970) |
Interest paid | 0 |
Liability component at 31 January 2023 | (
|
The liability component has been classified as basic on the grounds that there is a potential conversion within 12 months and no guaranteed premium payable upon that conversion per the deed. It is consequently measured at amortised cost.
31.01.2023 | 31.01.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
151,865.20 | 151,617.20 |
During the year, the company issued:
- 248 Ordinary D share with a nominal value of £1 per share.