Company registration number 02704507 (England and Wales)
TRANSOMNIA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
TRANSOMNIA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
TRANSOMNIA LIMITED (REGISTERED NUMBER: 02704507)
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
31 July 2023
31 March 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
33,250
Current assets
Stocks
-
158,449
Debtors
83,309
482,893
Cash at bank and in hand
572,637
846,019
655,946
1,487,361
Creditors: amounts falling due within one year
(5,534)
(203,428)
Net current assets
650,412
1,283,933
Total assets less current liabilities
650,412
1,317,183
Provisions for liabilities
-
0
(6,033)
Net assets
650,412
1,311,150
Capital and reserves
Called up share capital
226,750
226,750
Profit and loss reserves
423,662
1,084,400
Total equity
650,412
1,311,150

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TRANSOMNIA LIMITED (REGISTERED NUMBER: 02704507)
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2023
31 July 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 September 2023 and are signed on its behalf by:
S A O'Mahony
Director
TRANSOMNIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

Transomnia Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stone Cross House, Lower High Street, Wadhurst, England, TN5 6LP.

1.1
Reporting period

The company ceased trading on 31 July 2023 and the directors have therefore decided to produce accounts representing the final 16 months from 1 April 2022 to 31 July 2023. The comparative amounts presented in the financial statements and related notes are therefore not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The company ceased trading on 31 July 2023, however, as the company has adequate resources to meets its remaining financial obligations, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover represents amounts receivable from customers from the sale of interior accessories, crafts and giftware net of VAT.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
50% on cost and 20% on cost
Motor vehicles
20% on cost and 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

TRANSOMNIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
10
12
TRANSOMNIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2023
- 5 -
3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2022
189,458
43,104
232,562
Disposals
(189,458)
(43,104)
(232,562)
At 31 July 2023
-
0
-
0
-
0
Depreciation and impairment
At 1 April 2022
186,208
13,104
199,312
Eliminated in respect of disposals
(186,208)
(13,104)
(199,312)
At 31 July 2023
-
0
-
0
-
0
Carrying amount
At 31 July 2023
-
0
-
0
-
0
At 31 March 2022
3,250
30,000
33,250
4
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
-
0
28,000
5
Directors' transactions

As at the balance sheet date, a director owed £nil (2022: £150,724) to Transomnia Limited. This balance is included within other debtors.

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