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Registration number: 07017427

Trainbits and More Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Trainbits and More Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Trainbits and More Limited

(Registration number: 07017427)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

308,701

203,651

Investments

5

25,080

25,080

 

333,781

228,731

Current assets

 

Stocks

6

152,887

186,511

Debtors

7

747,916

894,438

Cash at bank and in hand

 

363,880

172,243

 

1,264,683

1,253,192

Creditors: Amounts falling due within one year

8

(928,388)

(859,246)

Net current assets

 

336,295

393,946

Total assets less current liabilities

 

670,076

622,677

Creditors: Amounts falling due after more than one year

8

(216,623)

(228,999)

Provisions for liabilities

(65,160)

(33,275)

Net assets

 

388,293

360,403

Capital and reserves

 

Called up share capital

100

100

Retained earnings

388,193

360,303

Shareholders' funds

 

388,293

360,403

 

Trainbits and More Limited

(Registration number: 07017427)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

.........................................
Mr Andrew David Hawker
Director

 

Trainbits and More Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit B The Quantum
Marshfield Bank
Crewe
CW2 8UY
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Trainbits and More Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss,

The current 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Office equipment

15% reducing balance

Improvements to property

1% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Trainbits and More Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 11).

 

Trainbits and More Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

-

49,611

94,190

255,196

398,997

Additions

21,727

14,390

60,945

80,121

177,183

Disposals

-

(2,559)

(20,400)

-

(22,959)

At 31 March 2023

21,727

61,442

134,735

335,317

553,221

Depreciation

At 1 April 2022

-

26,537

45,554

123,255

195,346

Charge for the year

217

5,365

25,513

31,809

62,904

Eliminated on disposal

-

(861)

(12,869)

-

(13,730)

At 31 March 2023

217

31,041

58,198

155,064

244,520

Carrying amount

At 31 March 2023

21,510

30,401

76,537

180,253

308,701

At 31 March 2022

-

23,074

48,636

131,941

203,651

Included within the net book value of land and buildings above is £21,510 (2022 - £Nil) in respect of improvements to property.
 

 

Trainbits and More Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

25,080

25,080

Subsidiaries

£

Cost or valuation

At 1 April 2022

25,080

Provision

Carrying amount

At 31 March 2023

25,080

At 31 March 2022

25,080

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

TBM Servicing Limited

Unit B The Quantum, Marshfield Bank, Crewe, CW2 8UY

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

TBM Servicing Limited

The principal activity of TBM Servicing Limited is rail engineering.

6

Stocks

2023
£

2022
£

Other inventories

152,887

186,511

 

Trainbits and More Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

594,518

572,252

Amounts owed by related parties

128,051

228,051

Prepayments

17,135

6,774

Other debtors

8,212

87,361

 

747,916

894,438

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

562,657

516,067

Trade creditors

93,313

155,225

Amounts owed to group undertakings and undertakings in which the company has a participating interest

112,464

77,836

Taxation and social security

35,034

41,194

Accruals and deferred income

13,036

25,000

Other creditors

111,884

43,924

928,388

859,246

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

216,623

228,999

9

Loans and borrowings

The finance lease liabilities are secured up on the assets they relate to. The bank loans are guaranteed personally by the directors and the other borrowings are secured by a fixed and floating charge over the company.