REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
TRANS4RM CONSULTING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
TRANS4RM CONSULTING LIMITED |
TRANS4RM CONSULTING LIMITED (REGISTERED NUMBER: 11478876) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
TRANS4RM CONSULTING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Room 73 |
Wrest House |
Wrest Park |
Silsoe |
Bedfordshire |
MK45 4HR |
TRANS4RM CONSULTING LIMITED (REGISTERED NUMBER: 11478876) |
BALANCE SHEET |
31 JULY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
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 |
TRANS4RM CONSULTING LIMITED (REGISTERED NUMBER: 11478876) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
1. | STATUTORY INFORMATION |
Trans4rm Consulting Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents the amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax. |
Tangible fixed assets |
Fixtures, fittings and equipment | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
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. |
TRANS4RM CONSULTING LIMITED (REGISTERED NUMBER: 11478876) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
3. | ACCOUNTING POLICIES - continued |
Business bounce back loan scheme |
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings |
and | Motor | Computer |
equipment | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 August 2022 |
Additions |
At 31 July 2023 |
Depreciation |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
Fixed assets, included in the above, which are held under finance leases are as follows: |
Motor |
vehicles |
£ |
Cost |
Additions |
At 31 July 2023 |
Depreciation |
Charge for year |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
TRANS4RM CONSULTING LIMITED (REGISTERED NUMBER: 11478876) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 August 2022 |
and 31 July 2023 |
Provisions |
At 1 August 2022 |
and 31 July 2023 | 536 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Directors' loan account | 42,305 | 124,218 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Finance leases |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 51,106 | 69,440 |
Accrued expenses |
Obligations held under finance lease contracts are secured on the assets concerned. |
The company undertook a Business Bounce Back Loan with interest being charged at 2.5% per annum. The loan is unsecured, being guaranteed in full by the government under the Business Bounce Back Loan facility. |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Finance leases |
Obligations held under finance lease contracts are secured on the assets concerned. |
The company undertook a Business Bounce Back Loan with interest being charged at 2.5% per annum. The loan is unsecured, being guaranteed in full by the government under the Business Bounce Back Loan facility. |
TRANS4RM CONSULTING LIMITED (REGISTERED NUMBER: 11478876) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
10. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 12,682 | 1,021 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Capital allowances in excess |
of depreciation | 11,661 |
Balance at 31 July 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | £1 | 5 | 5 |
Ordinary B | £1 | 5 | 5 |
10 | 10 |
Both Ordinary A and Ordinary B shares rank pari passu in all respects. |
12. | RELATED PARTY DISCLOSURES |
Included within debtors is an amount of £42,305 (2022: £124,218) due to the company from J A Alli-Balogun, director. During the year advances of £264,369 and repayments of £223,691 were made in respect of this loan. During the year interest of £1,627 (2022: £5,915) at a rate of 4% (2022: 5%) was charged on this balance. This balance was cleared by way of post year dividend. |