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REGISTERED NUMBER: 03714275 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

TRANSYS ELECTRONICS LIMITED

TRANSYS ELECTRONICS LIMITED (REGISTERED NUMBER: 03714275)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TRANSYS ELECTRONICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: S Holland
C A Holland





SECRETARY: C A Holland





REGISTERED OFFICE: Unit 3 Forge Mills Park Station Road
Coleshill
Birmingham
West Midlands
B46 1HE





REGISTERED NUMBER: 03714275 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

TRANSYS ELECTRONICS LIMITED (REGISTERED NUMBER: 03714275)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 474,690 246,231

CURRENT ASSETS
Stocks 227,762 293,775
Debtors 5 166,314 56,973
Prepayments and accrued income 18,205 7,153
Cash at bank 61,343 154,458
473,624 512,359
CREDITORS
Amounts falling due within one year 6 210,615 258,945
NET CURRENT ASSETS 263,009 253,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

737,699

499,645

CREDITORS
Amounts falling due after more than one
year

7

(51,607

)

(40,158

)

PROVISIONS FOR LIABILITIES 9 (99,158 ) (31,596 )
NET ASSETS 586,934 427,891

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 586,932 427,889
SHAREHOLDERS' FUNDS 586,934 427,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TRANSYS ELECTRONICS LIMITED (REGISTERED NUMBER: 03714275)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


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 Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





C A Holland - Director


TRANSYS ELECTRONICS LIMITED (REGISTERED NUMBER: 03714275)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Transys Electronics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

TRANSYS ELECTRONICS LIMITED (REGISTERED NUMBER: 03714275)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 665,105
Additions 355,684
Disposals (85,705 )
At 30 June 2023 935,084
DEPRECIATION
At 1 July 2022 418,874
Charge for year 91,068
Eliminated on disposal (49,548 )
At 30 June 2023 460,394
NET BOOK VALUE
At 30 June 2023 474,690
At 30 June 2022 246,231

TRANSYS ELECTRONICS LIMITED (REGISTERED NUMBER: 03714275)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022 85,705
Additions 62,027
Disposals (85,705 )
At 30 June 2023 62,027
DEPRECIATION
At 1 July 2022 49,548
Charge for year 15,507
Eliminated on disposal (49,548 )
At 30 June 2023 15,507
NET BOOK VALUE
At 30 June 2023 46,520
At 30 June 2022 36,157

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,932 7,031
Amounts owed by group undertakings 144,926 49,942
Other debtors 1,456 -
166,314 56,973

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 69,935
Hire purchase contracts 7,550 8,525
Trade creditors 175,866 30,589
Taxation and social security 16,523 133,347
Other creditors 10,676 16,549
210,615 258,945

TRANSYS ELECTRONICS LIMITED (REGISTERED NUMBER: 03714275)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 50,960 40,158
Other creditors 647 -
51,607 40,158

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 1,185
Bank loans - 68,750
Hire purchase contracts 58,510 48,683
58,510 118,618

Hire purchase contracts are secured on a motor vehicle.

The bank overdraft and loan is secured by a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant & machinery.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 99,158 31,596

Deferred
tax
£   
Balance at 1 July 2022 31,596
Provided during year 67,562
Balance at 30 June 2023 99,158