Transmission NQ Limited 13078291 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is property letting. Digita Accounts Production Advanced 6.30.9574.0 true true false 13078291 2022-04-01 2023-03-31 13078291 2023-03-31 13078291 core:RetainedEarningsAccumulatedLosses 2023-03-31 13078291 core:ShareCapital 2023-03-31 13078291 core:CurrentFinancialInstruments 2023-03-31 13078291 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13078291 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13078291 bus:SmallEntities 2022-04-01 2023-03-31 13078291 bus:Audited 2022-04-01 2023-03-31 13078291 bus:FullAccounts 2022-04-01 2023-03-31 13078291 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 13078291 bus:RegisteredOffice 2022-04-01 2023-03-31 13078291 bus:Director1 2022-04-01 2023-03-31 13078291 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13078291 1 2022-04-01 2023-03-31 13078291 1 2022-04-01 2023-03-31 13078291 countries:EnglandWales 2022-04-01 2023-03-31 13078291 2022-03-31 13078291 2020-12-11 2022-03-31 13078291 2022-03-31 13078291 core:RetainedEarningsAccumulatedLosses 2022-03-31 13078291 core:ShareCapital 2022-03-31 13078291 core:CurrentFinancialInstruments 2022-03-31 13078291 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 13078291 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 13078291

Transmission NQ Limited

Financial Statements

for the Year Ended 31 March 2023

 

Transmission NQ Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Transmission NQ Limited

(Registration number: 13078291)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

4,420,345

4,420,345

Current assets

 

Debtors

5

45,466

25,578

Cash at bank and in hand

 

47,247

35,030

 

92,713

60,608

Creditors: Amounts falling due within one year

6

(203,161)

(24,059)

Net current (liabilities)/assets

 

(110,448)

36,549

Total assets less current liabilities

 

4,309,897

4,456,894

Creditors: Amounts falling due after more than one year

6

(4,487,499)

(4,496,035)

Net liabilities

 

(177,602)

(39,141)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(177,603)

(39,142)

Shareholders' deficit

 

(177,602)

(39,141)

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 27 September 2023 and signed on its behalf by:
 

.........................................
Mr SA Ismail
Director

 

Transmission NQ Limited

Notes to the 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 3 Birchwood One Business Park Dewhurst Road
Birchwood
Warrington
WA3 7GB
England

These financial statements were authorised for issue by the Board on 27 September 2023.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 £.

Disclosure of long or short period

Due to the incorporation date, the comparative figures are for 475 days and therefore not directly comparable.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the parent company. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Audit report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 27 September 2023 was Matthew Geoffrey Price, who signed for and on behalf of Alextra Audit Limited.

 

Transmission NQ Limited

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

Judgements

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 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually using observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Any changes in fair value are recognised within the profit or loss account within the period it relates to.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Transmission NQ Limited

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

4

Investment property

2023
£

At 1 April

4,420,345

At 31 March

4,420,345

The Directors' have revalued the investment properties as at 31 March 2023 based on their experience in the property market, location and class of the investment property.

The historical cost of the investment property if it had not been revalued would have been £4,217,054.

5

Debtors

2023
£

2022
£

Prepayments and accrued income

12,150

4,961

Other debtors

33,316

20,617

45,466

25,578

 

Transmission NQ Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Trade creditors

 

23,213

2

Amounts owed to group undertakings

151,346

-

Accruals and deferred income

 

7,509

8,090

Other creditors

 

21,093

15,967

 

203,161

24,059

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Owed to related parties

4,487,499

4,496,035

7

Parent and ultimate parent undertaking

The immediate parent company is Salboy Real Estate Limited, a company incorporated in England and Wales, company number 13029478, registered office Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, England, WA3 7GB.

The ultimate parent company is Salboy Limited, a company incorporated in England and Wales, company number 09123542, registered office Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, England, WA3 7GB.

These financial statements are consolidated within the group financial statements of Salboy Limited. Copies of the consolidated financial statements are available on request from Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, England, WA3 7GB.

The directors of Salboy Limited are considered to be the controlling party.

The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.