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Registration number: 07115461

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

for
 

Traversum Limited

 

Traversum Limited

Contents of the Financial Statements
for the Year Ended 31 January 2023

Company Information

1

Directors' Report

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Traversum Limited

Company Information
for the Year Ended 31 January 2023

Directors:

Mr Gregory Wilkinson

Mrs Emma Nicola Wilkinson

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

07115461

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Traversum Limited

Directors' Report
for the Year Ended 31 January 2023

The directors present their report and the financial statements for the year ended 31 January 2023.

Principal activity

The principal activity of the company is management consultancy.

Directors of the company

The directors who held office during the year were as follows:

Mr Gregory Wilkinson

Mrs Emma Nicola Wilkinson

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 27 October 2023 and signed on its behalf by:
 

.........................................
Mr Gregory Wilkinson
Director

 

Traversum Limited

(Registration number: 07115461)
Balance Sheet as at 31 January 2023

Note

31.01.23

31.01.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

784

 

-

CURRENT ASSETS

   

 

Debtors

5

79,101

 

105,646

 

Cash at bank and in hand

 

9,614

 

29,079

 

 

88,715

 

134,725

 

CREDITORS

   

 

Creditors within 1yr

6

34,264

 

35,391

 

Net current assets

   

54,451

 

99,334

Total assets less current liabilities

   

55,235

 

99,334

Creditors
Amounts falling due after more than one year

6

 

24,002

 

34,022

Net assets

   

31,233

 

65,312

CAPITAL AND RESERVES

   

 

Called up share capital

 

4

 

4

Profit and loss account

 

31,229

 

65,308

Shareholders' funds

   

31,233

 

65,312

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

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.

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 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 October 2023 and signed on its behalf by:
 

.........................................
Mr Gregory Wilkinson
Director

 

Traversum Limited

Statement of Changes in Equity for the Year Ended 31 January 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 February 2021

4

103,870

103,874

Changes in equity

Total comprehensive income

-

42,838

42,838

Dividends

-

(81,400)

(81,400)

At 31 January 2022

4

65,308

65,312

Share capital
£

Profit and loss account
£

Total
£

At 1 February 2022

4

65,308

65,312

Changes in equity

Total comprehensive income

-

39,921

39,921

Dividends

-

(74,000)

(74,000)

At 31 January 2023

4

31,229

31,233

 

Traversum Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 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:
Savoy House
Savoy Circus
London
W3 7DA
England

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

The presentational currency is Pound Sterling (£).

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.

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 income 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.

 

Traversum Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023 (continued)

2

Accounting policies (continued)

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.

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 etc

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.



 

 

Traversum Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3.

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Traversum Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023 (continued)

4.

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2022

719

7,251

7,970

Additions

-

1,045

1,045

Disposals

(719)

(7,251)

(7,970)

At 31 January 2023

-

1,045

1,045

Depreciation

At 1 February 2022

719

7,251

7,970

Charge for the year

-

261

261

Eliminated on disposal

(719)

(7,251)

(7,970)

At 31 January 2023

-

261

261

Carrying amount

At 31 January 2023

-

784

784

5.

Debtors

31.01.23
£

31.01.22
£

Trade debtors

-

36,388

Other debtors

55,811

69,258

Accrued income

23,290

-

79,101

105,646

Included in other debtors is loans to directors repayable on demand with interest at the official rate as follows: opening balance £ 69,258 repaid during the year £ 63,258 and further advnaces of £ 55,811 outstanding at the year end which was repaid within nine months on the year end.

 

Traversum Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023 (continued)

6.

Creditors

Creditors: amounts falling due within one year

Note

31.01.23
£

31.01.22
£

Due within one year

 

Loans and borrowings

8

9,914

9,666

Trade creditors

 

2,090

1,199

Taxation and social security

 

16,118

17,573

Accruals and deferred income

 

4,700

2,200

Other creditors

 

1,442

4,753

 

34,264

35,391

Creditors: amounts falling due after more than one year.

31.01.23
£

31.01.22
£

Due after one year

Other non-current financial liabilities

24,002

34,022

7.

Related party transactions

8.

Loans and borrowings

31.01.23
£

31.01.22
£

Current loans and borrowings

Bank borrowings

9,914

9,666