REGISTERED NUMBER: |
Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
for |
CAPITAL TRAFFIC MANAGEMENT LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
for |
CAPITAL TRAFFIC MANAGEMENT LIMITED |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Contents of the Financial Statements |
for the period 1 April 2022 to 30 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CAPITAL TRAFFIC MANAGEMENT LIMITED |
Company Information |
for the period 1 April 2022 to 30 March 2023 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Balance Sheet |
30 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Notes to the Financial Statements |
for the period 1 April 2022 to 30 March 2023 |
1. | Statutory information |
Capital Traffic Management Limited is a |
The prior period end date was changed to 31 March 2022 to bring it in line with its holding company. This resulted in the previous period length being 10 months. Therefore, comparatives are not entirely comparable. |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The company ceased trading in June 2022. The financial statements are, therefore, prepared on a basis other than going concern. However, no adjustments are required to the figures in the financial statements as a result of ceasing to trade. |
Turnover |
Turnover is the total amount receivable by the company in the ordinary course of business with customers for goods supplied and services provided excluding value added tax. |
Turnover is recognised to the extent it is probable that economic benefit will flow to the Company. Turnover is recognised as the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: |
The amount of turnover can be measured reliably; |
It is probable that the Company will receive the consideration due under the contract; and |
Where applicable, the costs incurred and the costs to complete the contract can be measured reliably. |
Turnover in respect of variations to contracts and incentive payments is recognised when it is probable it will be agreed by the customer. Where turnover recognised exceeds billing, the balance is shown as due from customers within debtors. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Notes to the Financial Statements - continued |
for the period 1 April 2022 to 30 March 2023 |
3. | Accounting policies - continued |
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 period 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Work-in-progress |
Work-in-progress relates to costs incurred on a projects, either if the project is competed or reached a certain stage, it will then be transferred to the Profit and Loss. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over |
the period of the lease on a straight line basis. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding. |
4. | Employees and directors |
The average number of employees during the period was NIL (2022 - |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Notes to the Financial Statements - continued |
for the period 1 April 2022 to 30 March 2023 |
5. | Tangible fixed assets |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 March 2023 |
Depreciation |
At 1 April 2022 |
Charge for period |
At 30 March 2023 |
Net book value |
At 30 March 2023 |
At 31 March 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contract |
Other debtors |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
VAT | 3,257 | 180,911 |
Other creditors | ( |
) |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 9) |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Notes to the Financial Statements - continued |
for the period 1 April 2022 to 30 March 2023 |
9. | Leasing agreements |
Minimum lease payments under hire purchase fall due as follows: |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | Related party disclosures |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
13. | Ultimate controlling party |
The immediate parent company, by virtue of its 100% shareholding, is Go Traffic Management Limited, a company registered in the United Kingdom. |
Nyetimber Finco Limited, a company registered in the United Kingdom, is the parent undertaking of the smallest group of undertakings to consolidate these financial statements. OMERS Administration Corporation is the beneficial owner of Nyetimber Finco Limited. |