Registered number: 10610690 Charity number: 1174644
TRIPLE ONE TRUST LIMITED (A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 - 7 |
| Notes to the financial statements | 8 - 14 |
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2025
| Trustees | J Gluck, Director/Trustee (Chair) |
|---|---|
| SB Finkelstein, Director/Trustee | |
| AT Tauber, Director/Trustee | |
| Company registered number 10610690 Charity registered number 1174644 Registered office Side Entrance 123 Clapton Common London E5 9AB Accountants Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB Bankers Lloyds Bank London EC2R 8AU |
Page 1
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
The Trustees present their annual report together with the financial statements of the Company for the 1 March 2024 to 28 February 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
Policies and objectives
The charity was set up under a Memorandum and Articles of Association to advance the education of the public, religion, carers, to relieve poverty, to help refugees and the elderly, to promote social inclusion, to relieve sickness, to help young people and to preserve cemeteries. This is done by the provision of grants. These grants assisted those charities.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
Review of activities
Grants of £135,500 (2024 - 20,850) were paid to charities thought suitable.
Financial review
Reserves
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. The reserves of £937,208 (2024 - £1,012,226) represent the fixed assets and funds not yet distributed.
Principal funding
Rental income from two freehold properties aggregated £88,786, property expenses were £27,504, accountancy fees £800, charitable grants £135,500, resulting in a net deficit of £75,018.
Page 2
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
Structure, governance and management
Constitution
Triple One Trust Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 17 November 2025 and signed on their behalf by:
J Gluck Director/Trustee
Page 3
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
Independent examiner's report to the Trustees of Triple One Trust Limited ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 28 February 2025.
Responsibilities and basis of report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated: 17 November 2025
Daniel Wolffe FCCA
34 Braydon Road London N16 6QB
Page 4
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2025
| Note Income from: Charitable activities 3 Total income Expenditure on: Property expenses 4 Charitable expenses Administrative expenses 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 88,786 88,786 27,504 135,500 800 163,804 (75,018) 1,012,226 (75,018) 937,208 |
Total funds 2025 £ 88,786 88,786 27,504 135,500 800 163,804 (75,018) 1,012,226 (75,018) 937,208 |
Total funds 2024 £ 77,277 |
|---|---|---|---|
| 77,277 | |||
| 22,627 20,850 700 |
|||
| 44,177 | |||
| 33,100 | |||
| 979,126 33,100 |
|||
| 1,012,226 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 form part of these financial statements.
Page 5
TRIPLE ONE TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 10610690
BALANCE SHEET AS AT 28 FEBRUARY 2025
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
43,708 36,901 80,609 (900) |
28 February 2025 £ 857,500 857,500 79,709 937,209 937,209 937,209 - 937,209 937,209 |
38,066 117,460 155,526 (800) |
29 February 2024 £ 857,500 |
|---|---|---|---|---|
| 857,500 154,726 |
||||
| 1,012,226 | ||||
| 1,012,226 | ||||
| 1,012,226 | ||||
| - 1,012,226 |
||||
| 1,012,226 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 17 November 2025 and signed on their behalf by:
Page 6
TRIPLE ONE TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 10610690
BALANCE SHEET (CONTINUED) AS AT 28 FEBRUARY 2025
J Gluck
Director/Trustee
The notes on pages 8 to 14 form part of these financial statements.
Page 7
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1. General information
The charity was set up to advance the education of the public, religion, carers, to relieve poverty, to help refugees and the elderly, to promote social inclusion, to relieve sickness, to help young people and to preserve cemeteries.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Triple One Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
2.4 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Page 8
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
3. Income from charitable activities
| Unrestricted funds 2025 £ Rents receivable 88,786 Unrestricted funds 2024 £ Rents receivable 77,277 4. Property expenses Unrestricted funds 2025 £ Insurance payable 1,854 Repairs 8,567 Professional fees 3,468 Agents fees 10,281 Cleaning 1,200 Bank charges 183 Light & heat 72 Rates 1,071 Sundry expenses 808 27,504 |
Total funds 2025 £ 88,786 |
|---|---|
| Total funds 2024 £ 77,277 |
|
| Total funds 2025 £ 1,854 8,567 3,468 10,281 1,200 183 72 1,071 808 |
|
| 27,504 |
Page 9
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
4. Property expenses (continued)
| Insurance payable Repairs Professional fees Agents fees Cleaning Bank charges Light & heat Rates Sundry expenses |
Unrestricted funds 2024 £ 1,683 6,502 1,897 8,970 1,200 240 239 928 968 22,627 |
Total funds 2024 £ 1,683 6,502 1,897 8,970 1,200 240 239 928 968 |
|---|---|---|
| 22,627 |
5. Charitable expenses
| General charitable purposes Education and training The advancement of heath The relief of poverty Religious activities |
Grants to Institutions 2025 £ 15,000 45,500 5,000 50,000 20,000 135,500 |
Total funds 2025 £ 15,000 45,500 5,000 50,000 20,000 |
|---|---|---|
| 135,500 |
Page 10
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
5. Charitable expenses (continued)
| General charitable purposes Education and training The relief of poverty Religious activities |
Grants to Institutions 2024 £ 5,000 10,000 5,500 350 20,850 |
Total funds 2024 £ 5,000 10,000 5,500 350 |
|---|---|---|
| 20,850 |
6. Administrative expenses
| Unrestricted funds 2025 £ Accountancy fees 400 Independant examination fee 400 800 Unrestricted funds 2024 £ Accountancy fees 350 Independant examination fee 350 700 |
Total funds 2025 £ 400 400 |
|---|---|
| 800 | |
| Total funds 2024 £ 350 350 |
|
| 700 |
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 28 February 2025, no Trustee expenses have been incurred (2024 - £NIL) .
Page 11
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
8. Tangible fixed assets
| Cost or valuation At 1 March 2024 At 28 February 2025 Depreciation At 1 March 2024 At 28 February 2025 Net book value At 28 February 2025 At 29 February 2024 9. Debtors Due within one year Trade debtors Other debtors |
Freehold property £ 857,500 857,500 - - 857,500 857,500 |
Fixtures and fittings £ 167 167 167 167 - - 28 February 2025 £ 6,308 37,400 43,708 |
Total £ 857,667 |
|---|---|---|---|
| 857,667 | |||
| 167 | |||
| 167 | |||
| 857,500 | |||
| 857,500 | |||
| 29 February 2024 £ 3,697 34,369 38,066 |
Page 12
(A company limited by guarantee)
TRIPLE ONE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
10. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
28 February 2025 £ 100 800 900 |
29 February 2024 £ 100 700 |
|---|---|---|
| 800 |
11. Summary of funds
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 1 March 2024 £ 1,012,226 Balance at 1 March 2023 £ 979,126 |
Income £ 88,787 Income £ 77,277 |
Expenditure £ (163,804) Expenditure £ (44,177) |
Balance at 28 February 2025 £ 937,209 |
|---|---|---|---|---|
| Balance at 29 February 2024 £ 1,012,226 |
Page 13
TRIPLE ONE TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
12. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 28 February 2025 £ Tangible fixed assets 857,500 Current assets 80,610 Creditors due within one year (900) Total 937,210 |
Total funds 28 February 2025 £ 857,500 80,610 (900) 937,210 |
|---|---|
13. Related party transactions
The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 28 February 2025.
Page 14