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Registration number: SC281784

Transportation Management Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Transportation Management Ltd.

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

Accountants' Report

7

 

Transportation Management Ltd.

Company Information

Director

Mr David Ramsay

Registered office

11 Foxhall Gait
Kirkliston
Edinburgh
EH299GT

Accountants

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Transportation Management Ltd.

(Registration number: SC281784)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

127

169

Current assets

 

Stocks

5

3,250

4,875

Debtors

6

428

5,850

Cash at bank and in hand

 

140,561

108,142

 

144,239

118,867

Creditors: Amounts falling due within one year

7

(38,603)

(39,848)

Net current assets

 

105,636

79,019

Net assets

 

105,763

79,188

Capital and reserves

 

Called up share capital

4

4

Retained earnings

105,759

79,184

Shareholders' funds

 

105,763

79,188

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director on 10 August 2023
 

.........................................
Mr David Ramsay
Director

 

Transportation Management Ltd.

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

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.

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.

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

Office equipment

Straight line at 33%

Furniture and fittings

Reducing balance at 25%

 

Transportation Management Ltd.

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

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

 

Transportation Management Ltd.

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

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

401

7,937

8,338

At 31 March 2023

401

7,937

8,338

Depreciation

At 1 April 2022

232

7,937

8,169

Charge for the year

42

-

42

At 31 March 2023

274

7,937

8,211

Carrying amount

At 31 March 2023

127

-

127

At 31 March 2022

169

-

169

5

Stocks

2023
£

2022
£

Work in progress

3,250

4,875

6

Debtors

2023
£

2022
£

Trade debtors

-

5,850

Prepayments

428

-

428

5,850

 

Transportation Management Ltd.

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,091

-

Taxation and social security

37,447

35,131

Other creditors

65

4,717

38,603

39,848

8

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2023
 £

2022
 £

Mr David Ramsay

65

2,359

Mrs Caroline Anne Ramsay

-

2,358

 

65

4,717

The maximum balance outstanding during the year amounted to £4,717.

The director's current account is repayable on demand.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Transportation Management Ltd.
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Transportation Management Ltd. for the year ended 31 March 2023 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Transportation Management Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Transportation Management Ltd. and state those matters that we have agreed to state to the Board of Directors of Transportation Management Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Transportation Management Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Transportation Management Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Transportation Management Ltd.. You consider that Transportation Management Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Transportation Management Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

10 August 2023