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REGISTERED NUMBER: 08345815 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

TRANSITION COMMERCE LIMITED

TRANSITION COMMERCE LIMITED (REGISTERED NUMBER: 08345815)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TRANSITION COMMERCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: D Mckee





REGISTERED OFFICE: 1 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US





REGISTERED NUMBER: 08345815 (England and Wales)





ACCOUNTANTS: Total Back Office Solutions Ltd
1 Waterside, Station Road
Harpenden
Hertfordshire
AL5 4US

TRANSITION COMMERCE LIMITED (REGISTERED NUMBER: 08345815)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,087 260

CURRENT ASSETS
Debtors 5 284,008 485,166
Cash at bank 4,793 29,971
288,801 515,137
CREDITORS
Amounts falling due within one year 6 239,268 432,919
NET CURRENT ASSETS 49,533 82,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,620

82,478

PROVISIONS FOR LIABILITIES 1,347 49
NET ASSETS 55,273 82,429

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 55,272 82,428
SHAREHOLDERS' FUNDS 55,273 82,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2023 and were signed by:





D Mckee - Director


TRANSITION COMMERCE LIMITED (REGISTERED NUMBER: 08345815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Transition Commerce 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.

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

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

TRANSITION COMMERCE LIMITED (REGISTERED NUMBER: 08345815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 3,068
Additions 9,209
At 31 January 2023 12,277
DEPRECIATION
At 1 February 2022 2,808
Charge for year 2,382
At 31 January 2023 5,190
NET BOOK VALUE
At 31 January 2023 7,087
At 31 January 2022 260

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 283,419 475,938
Other debtors 589 9,228
284,008 485,166

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 258
Trade creditors 119,940 114,452
Taxation and social security 64,319 88,704
Other creditors 55,009 229,505
239,268 432,919

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Mckee.