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Company Registration No. 07332827 (England and Wales)
Transact Solutions Limited Unaudited accounts for the year ended 31 August 2023
Transact Solutions Limited Unaudited accounts Contents
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Transact Solutions Limited Company Information for the year ended 31 August 2023
Directors
Arif Shaikh Ambareen Shaikh
Company Number
07332827 (England and Wales)
Registered Office
34 Pointers Close London E14 3AP
Accountants
Capital Accounting Solutions Limited 1st Floor 277-279 Bethnal Green Road London E2 6AH
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Transact Solutions Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
805 
1,783 
Current assets
Cash at bank and in hand
30,699 
156,581 
Creditors: amounts falling due within one year
(8,132)
(125,772)
Net current assets
22,567 
30,809 
Net assets
23,372 
32,592 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
23,370 
32,590 
Shareholders' funds
23,372 
32,592 
For the year ending 31 August 2023 the company was entitled to exemption from audit 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by
Ambareen Shaikh Director Company Registration No. 07332827
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Transact Solutions Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Transact Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 07332827. The registered office is 34 Pointers Close, London, E14 3AP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% Straight Line
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 September 2022
4,541 
At 31 August 2023
4,541 
Depreciation
At 1 September 2022
2,758 
Charge for the year
978 
At 31 August 2023
3,736 
Net book value
At 31 August 2023
805 
At 31 August 2022
1,783 
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Transact Solutions Limited Notes to the Accounts for the year ended 31 August 2023
5
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
6
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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