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COMPANY REGISTRATION NUMBER: 12667350
Traframe Ltd
Filleted Unaudited Financial Statements
30 June 2023
Traframe Ltd
Financial Statements
Year ended 30 June 2023
Contents
Page
Officers and professional advisers
1
Report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Traframe Ltd
Officers and Professional Advisers
Director
S J Nicholls
Registered office
Units 9 & 10 Whiteknight Business Park
10 Hammonds Drive
Eastbourne
East Sussex
BN23 6PW
Accountant
Baulf-James Chartered Accountants
Chartered accountants
17-19 Station Road West
Oxted
Surrey
RH8 9EE
Traframe Ltd
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Traframe Ltd
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Traframe Ltd for the year ended 30 June 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Traframe Ltd in accordance with the terms of my engagement letter dated 3 August 2021. My work has been undertaken solely to prepare for your approval the financial statements of Traframe Ltd and state those matters that I have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Traframe Ltd and its director for my work or for this report.
It is your duty to ensure that Traframe Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Traframe Ltd. You consider that Traframe Ltd is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of Traframe Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Baulf-James Chartered Accountants Chartered accountants
17-19 Station Road West Oxted Surrey RH8 9EE
9 February 2024
Traframe Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
119,714
170,858
Current assets
Stocks
51,663
58,495
Debtors
6
83,140
81,823
Cash at bank and in hand
4,442
19,148
---------
---------
139,245
159,466
Creditors: amounts falling due within one year
7
545,425
461,677
---------
---------
Net current liabilities
406,180
302,211
---------
---------
Total assets less current liabilities
( 286,466)
( 131,353)
Creditors: amounts falling due after more than one year
8
14,169
22,243
---------
---------
Net liabilities
( 300,635)
( 153,596)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 300,735)
( 153,696)
---------
---------
Shareholders deficit
( 300,635)
( 153,596)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Traframe Ltd
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 9 February 2024 , and are signed on behalf of the board by:
S J Nicholls
Director
Company registration number: 12667350
Traframe Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 9 & 10 Whiteknight Business Park, 10 Hammonds Drive, Eastbourne, East Sussex, BN23 6PW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Director confirms that he will support the Company for the next 12 months and the accounts have therefore been completed on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Motor vehicles
-
25% reducing balance
Furniture and equipment
-
20 % straight line
Improvements to property
-
10 % straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 8 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Improvements to property
Total
£
£
£
£
£
Cost
At 1 July 2022
246,399
5,500
17,156
8,245
277,300
Additions
1,924
2,354
4,278
---------
-------
--------
-------
---------
At 30 June 2023
248,323
5,500
19,510
8,245
281,578
---------
-------
--------
-------
---------
Depreciation
At 1 July 2022
97,943
1,375
5,475
1,649
106,442
Charge for the year
49,664
1,031
3,902
825
55,422
---------
-------
--------
-------
---------
At 30 June 2023
147,607
2,406
9,377
2,474
161,864
---------
-------
--------
-------
---------
Carrying amount
At 30 June 2023
100,716
3,094
10,133
5,771
119,714
---------
-------
--------
-------
---------
At 30 June 2022
148,456
4,125
11,681
6,596
170,858
---------
-------
--------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
42,890
48,031
Other debtors
40,250
33,792
--------
--------
83,140
81,823
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,461
6,507
Trade creditors
51,009
36,533
Social security and other taxes
9,410
19,689
Company credit cards
37,249
1,560
Other creditors
440,296
397,388
---------
---------
545,425
461,677
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,169
22,243
--------
--------
9. Capital commitments
Capital expenditure contracted for but not provided for in the financial statements is as follows:
2023
2022
£
£
Tangible assets
306,648
347,648
---------
---------
The Company is contracted to pay £41,000 per annum for a term of 10 years to Westcott Leach Limited for rent of office and warehouse space. This year £41,000 (net of VAT) was paid to Westcott Leach Limited relating to this financial commitment.