TRANSAX NETWORKS LTD

Company Registration Number:
11780954 (England and Wales)

Unaudited statutory accounts for the year ended 30 January 2023

Period of accounts

Start date: 31 January 2022

End date: 30 January 2023

TRANSAX NETWORKS LTD

Contents of the Financial Statements

for the Period Ended 30 January 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

TRANSAX NETWORKS LTD

Profit And Loss Account

for the Period Ended 30 January 2023

2023 2022


£

£
Turnover: 5,955,632 0
Cost of sales: ( 5,300,512 ) 0
Gross profit(or loss): 655,120 0
Distribution costs: ( 255,678 ) 0
Administrative expenses: ( 143,744 ) 0
Operating profit(or loss): 255,698 0
Profit(or loss) before tax: 255,698 0
Profit(or loss) for the financial year: 255,698 0

TRANSAX NETWORKS LTD

Balance sheet

As at 30 January 2023

Notes 2023 2022


£

£
Called up share capital not paid: 2,500 1
Fixed assets
Intangible assets: 3 125,000 0
Tangible assets: 4 223,678 0
Investments:   0 0
Total fixed assets: 348,678 0
Current assets
Stocks: 5 135,621 0
Debtors: 6 256,789 0
Cash at bank and in hand: 325,698 1
Investments:   0 0
Total current assets: 718,108 1
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 132,691 ) 0
Net current assets (liabilities): 585,417 1
Total assets less current liabilities: 936,595 2
Creditors: amounts falling due after more than one year: 8 ( 243,872 ) 0
Provision for liabilities: ( 175,788 ) 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 516,935 2
Capital and reserves
Called up share capital: 3,000 2
Share premium account: 0
Other reserves: 258,237
Profit and loss account: 255,698
Total Shareholders' funds: 516,935 2

The notes form part of these financial statements

TRANSAX NETWORKS LTD

Balance sheet statements

For the year ending 30 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 30 October 2023
and signed on behalf of the board by:

Name: Brian Mcgowan
Status: Director

The notes form part of these financial statements

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is Recognised When it is Probable that Its Economic Benefits associated with tranactions will flow to company and the amount of revenue and associated cost can reliably measured.

    Tangible fixed assets depreciation policy

    Assets Should be Depreciated at 20% Straight line Method.

    Other accounting policies

    Revenue is Recognised When it is Probable that Its Economic Benefits associated with tranactions will flow to company and the amount of revenue and associated cost can reliably measured.

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 9 0

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 31 January 2022 0 0 0
Additions 125,000 0 125,000
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 30 January 2023 125,000 0 125,000
Amortisation
At 31 January 2022 0 0 0
Charge for year 0 0 0
On disposals 0 0 0
Other adjustments 0 0 0
At 30 January 2023 0 0 0
Net book value
At 30 January 2023 125,000 0 125,000
At 30 January 2022 0 0 0

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 31 January 2022 0 0 0 0 0 0
Additions 115,678 35,678 16,287 45,691 10,344 223,678
Disposals
Revaluations
Transfers
At 30 January 2023 115,678 35,678 16,287 45,691 10,344 223,678
Depreciation
At 31 January 2022
Charge for year
On disposals
Other adjustments
At 30 January 2023
Net book value
At 30 January 2023 115,678 35,678 16,287 45,691 10,344 223,678
At 30 January 2022 0 0 0 0 0 0

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

5. Stocks

2023 2022
£ £
Stocks 135,621 0
Total 135,621 0

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

6. Debtors

2023 2022
£ £
Trade debtors 256,789 0
Total 256,789 0

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0
Trade creditors 132,691
Total 132,691 0

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2023

8. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 243,872 0
Total 243,872 0