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REGISTERED NUMBER: 08463013 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

3RD RAIL LIMITED

3RD RAIL LIMITED (REGISTERED NUMBER: 08463013)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


3RD RAIL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: R J Burgess





REGISTERED OFFICE: 107 Bell Street
London
NW1 6TL





REGISTERED NUMBER: 08463013 (England and Wales)





ACCOUNTANTS: Butters Gates & Company
Chartered Accountants
107 Bell Street
London
NW1 6TL

3RD RAIL LIMITED (REGISTERED NUMBER: 08463013)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,721 15,538
Tangible assets 5 47,991 38,619
80,712 54,157

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 6 99,750 50,448
Cash at bank and in hand 173,249 142,390
287,999 207,838
CREDITORS
Amounts falling due within one year 7 229,581 229,314
NET CURRENT ASSETS/(LIABILITIES) 58,418 (21,476 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,130

32,681

CREDITORS
Amounts falling due after more than one
year

8

32,500

51,118
NET ASSETS/(LIABILITIES) 106,630 (18,437 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 106,530 (18,537 )
SHAREHOLDERS' FUNDS 106,630 (18,437 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

3RD RAIL LIMITED (REGISTERED NUMBER: 08463013)

BALANCE SHEET - continued
31 MARCH 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 September 2022 and were signed by:





R J Burgess - Director


3RD RAIL LIMITED (REGISTERED NUMBER: 08463013)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

3rd Rail 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. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Other intangible assets
The cost of the intangible asset is being amortised over evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance

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 Statement of Income and Retained Earnings, 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.


3RD RAIL LIMITED (REGISTERED NUMBER: 08463013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2021 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2021 44,000 18,284 62,284
Additions - 31,146 31,146
At 31 March 2022 44,000 49,430 93,430
AMORTISATION
At 1 April 2021 35,200 11,546 46,746
Charge for year 4,400 9,563 13,963
At 31 March 2022 39,600 21,109 60,709
NET BOOK VALUE
At 31 March 2022 4,400 28,321 32,721
At 31 March 2021 8,800 6,738 15,538

3RD RAIL LIMITED (REGISTERED NUMBER: 08463013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2021 100,212 17,163 117,375
Additions 24,177 679 24,856
At 31 March 2022 124,389 17,842 142,231
DEPRECIATION
At 1 April 2021 67,887 10,869 78,756
Charge for year 13,942 1,542 15,484
At 31 March 2022 81,829 12,411 94,240
NET BOOK VALUE
At 31 March 2022 42,560 5,431 47,991
At 31 March 2021 32,325 6,294 38,619

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 52,924 19,169
Other debtors 29,775 29,775
Prepayments 17,051 1,504
99,750 50,448

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 10,000 18,516
Trade creditors 40,749 34,532
Tax 27,029 12,259
Social security and other taxes 3,760 5,118
VAT 38,415 50,737
Other creditors 97,065 90,452
Directors' current accounts 9,263 14,700
Accrued expenses 3,300 3,000
229,581 229,314

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans - 1-2 years - 18,618
Bank loans - 2-5 years 32,500 32,500
32,500 51,118

3RD RAIL LIMITED (REGISTERED NUMBER: 08463013)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.3.21
£    £   
Bank loans 42,500 69,634

Included in bank loans is the Government bounce back loan of £42,500 that is unsecured.