Registered number
12174388
Transportify Limited
Filleted Accounts
31 December 2023
Transportify Limited
Registered number: 12174388
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 7,834 9,833
Tangible assets 4 3,940 3,227
11,774 13,060
Current assets
Debtors 5 897,637 724,934
Cash at bank and in hand 1,022,351 672,442
1,919,988 1,397,376
Creditors: amounts falling due within one year 6 (852,714) (633,014)
Net current assets 1,067,274 764,362
Net assets 1,079,048 777,422
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,078,948 777,322
Shareholders' funds 1,079,048 777,422
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jean-Philippe Charles-Henri Guerin
Director
Approved by the board on 16 July 2024
Transportify Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Intangible assets other than goodwill over 5 years
Plant and machinery over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets other than goodwill £
Software:
Cost
At 1 January 2023 10,000
At 31 December 2023 10,000
Amortisation
At 1 January 2023 167
Provided during the year 1,999
At 31 December 2023 2,166
Net book value
At 31 December 2023 7,834
At 31 December 2022 9,833
Goodwill is being written off in equal annual instalments over its estimated economic life.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 5,685
Additions 2,313
At 31 December 2023 7,998
Depreciation
At 1 January 2023 2,458
Charge for the year 1,600
At 31 December 2023 4,058
Net book value
At 31 December 2023 3,940
At 31 December 2022 3,227
5 Debtors 2023 2022
£ £
Trade debtors 875,070 711,124
Other debtors 22,567 13,810
897,637 724,934
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 450,706 298,868
Taxation and social security costs 140,519 194,562
Other creditors 261,489 139,584
852,714 633,014
7 Other information
Transportify Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Charter Building
Spaces
Uxbridge
England
UB8 1JG
Transportify Limited 12174388 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts October 2023 release 2 Jean-Philippe Charles-Henri Guerin No description of principal activity 12174388 2021-09-01 2022-12-31 12174388 core:WithinOneYear 2022-12-31 12174388 core:ShareCapital 2022-12-31 12174388 core:RetainedEarningsAccumulatedLosses 2022-12-31 12174388 2023-01-01 2023-12-31 12174388 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12174388 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12174388 bus:Director40 2023-01-01 2023-12-31 12174388 1 2023-01-01 2023-12-31 12174388 2 2023-01-01 2023-12-31 12174388 core:Goodwill 2023-01-01 2023-12-31 12174388 core:PlantMachinery 2023-01-01 2023-12-31 12174388 countries:England 2023-01-01 2023-12-31 12174388 bus:FRS102 2023-01-01 2023-12-31 12174388 bus:FullAccounts 2023-01-01 2023-12-31 12174388 2023-12-31 12174388 core:WithinOneYear 2023-12-31 12174388 core:ShareCapital 2023-12-31 12174388 core:RetainedEarningsAccumulatedLosses 2023-12-31 12174388 core:Goodwill 2023-12-31 12174388 core:PlantMachinery 2023-12-31 12174388 2022-12-31 12174388 core:Goodwill 2022-12-31 12174388 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure