Traction Motor Repairs Limited 07514531 false 2022-03-01 2023-07-31 2023-07-31 The principal activity of the company is that of electrical motor repairers Digita Accounts Production Advanced 6.30.9574.0 true 07514531 2022-03-01 2023-07-31 07514531 2023-07-31 07514531 core:RetainedEarningsAccumulatedLosses 2023-07-31 07514531 core:ShareCapital 2023-07-31 07514531 core:CurrentFinancialInstruments 2023-07-31 07514531 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07514531 core:FurnitureFittingsToolsEquipment 2023-07-31 07514531 core:MotorVehicles 2023-07-31 07514531 bus:SmallEntities 2022-03-01 2023-07-31 07514531 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-07-31 07514531 bus:FullAccounts 2022-03-01 2023-07-31 07514531 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-07-31 07514531 bus:RegisteredOffice 2022-03-01 2023-07-31 07514531 bus:Director1 2022-03-01 2023-07-31 07514531 bus:Director2 2022-03-01 2023-07-31 07514531 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-07-31 07514531 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-07-31 07514531 core:MotorVehicles 2022-03-01 2023-07-31 07514531 core:OfficeEquipment 2022-03-01 2023-07-31 07514531 core:PlantMachinery 2022-03-01 2023-07-31 07514531 countries:EnglandWales 2022-03-01 2023-07-31 07514531 2022-02-28 07514531 core:FurnitureFittingsToolsEquipment 2022-02-28 07514531 core:MotorVehicles 2022-02-28 07514531 2021-03-01 2022-02-28 07514531 2022-02-28 07514531 core:RetainedEarningsAccumulatedLosses 2022-02-28 07514531 core:ShareCapital 2022-02-28 07514531 core:CurrentFinancialInstruments 2022-02-28 07514531 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 07514531 core:FurnitureFittingsToolsEquipment 2022-02-28 07514531 core:MotorVehicles 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 07514531

Traction Motor Repairs Limited

Unaudited Financial Statements

for the Period from 1 March 2022 to 31 July 2023

 

Traction Motor Repairs Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Traction Motor Repairs Limited

(Registration number: 07514531)
Statement of Financial Position as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

201

Current assets

 

Stocks

5

-

50

Debtors

6

1,046

33,656

Cash at bank and in hand

 

24,704

27,597

 

25,750

61,303

Creditors: Amounts falling due within one year

7

(19,216)

(49,648)

Net current assets

 

6,534

11,655

Net assets

 

6,534

11,856

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

6,532

11,854

Shareholders Funds

 

6,534

11,856

 

Traction Motor Repairs Limited

(Registration number: 07514531)
Statement of Financial Position as at 31 July 2023

For the financial period ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The Directors acknowledge their 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 Income Statement.

Approved and authorised by the Board on 16 April 2024 and signed on its behalf by:
 

.........................................
S Lomas
Director

.........................................
J Lynch
Director

 

Traction Motor Repairs Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2022 to 31 July 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Finney Drive
Wilmslow
Cheshire
SK9 2ES

These financial statements were authorised for issue by the Board on 16 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

 

Traction Motor Repairs Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2022 to 31 July 2023

Tangible assets

Tangible assets are stated in the statement of financial position 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

Plant and Machinery

15% Reducing balance

Motor Vehicles

25% Reducing balance

Office Equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
 

 

Traction Motor Repairs Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2022 to 31 July 2023

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 2 (2022 - 2).

4

Tangible assets

Plant and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

737

700

1,437

Disposals

(737)

(700)

(1,437)

At 31 July 2023

-

-

-

Depreciation

At 1 March 2022

566

670

1,236

Eliminated on disposal

(566)

(670)

(1,236)

At 31 July 2023

-

-

-

Carrying amount

At 31 July 2023

-

-

-

At 28 February 2022

171

30

201

5

Stocks

2023
£

2022
£

Inventories

-

50

6

Debtors

2023
£

2022
£

Trade debtors

-

32,803

Other debtors

1,046

-

Prepayments

-

853

1,046

33,656

 

Traction Motor Repairs Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2022 to 31 July 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

7,943

Taxation and social security

256

16,014

Accruals and deferred income

2,450

3,916

Other creditors

16,510

21,775

19,216

49,648