IRIS Accounts Production v24.2.0.383 10156285 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 21.8.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh101562852023-03-31101562852024-03-31101562852023-04-012024-03-31101562852022-03-31101562852022-04-012023-03-31101562852023-03-3110156285ns15:EnglandWales2023-04-012024-03-3110156285ns14:PoundSterling2023-04-012024-03-3110156285ns10:Director12023-04-012024-03-3110156285ns10:Director22023-04-012024-03-3110156285ns10:CompanyLimitedByGuarantee2023-04-012024-03-3110156285ns10:SmallEntities2023-04-012024-03-3110156285ns10:Audited2023-04-012024-03-3110156285ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3110156285ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110156285ns10:FullAccounts2023-04-012024-03-3110156285ns10:Director32023-04-012024-03-3110156285ns10:Director42023-04-012024-03-3110156285ns10:Director52023-04-012024-03-3110156285ns10:RegisteredOffice2023-04-012024-03-3110156285ns5:CurrentFinancialInstruments2024-03-3110156285ns5:CurrentFinancialInstruments2023-03-3110156285ns5:RetainedEarningsAccumulatedLosses2024-03-3110156285ns5:RetainedEarningsAccumulatedLosses2023-03-3110156285ns5:LeaseholdImprovements2023-04-012024-03-3110156285ns5:PlantMachinery2023-04-012024-03-3110156285ns5:FurnitureFittings2023-04-012024-03-3110156285ns5:MotorVehicles2023-04-012024-03-3110156285ns5:ComputerEquipment2023-04-012024-03-3110156285ns5:LeaseholdImprovements2023-03-3110156285ns5:PlantMachinery2023-03-3110156285ns5:FurnitureFittings2023-03-3110156285ns5:LeaseholdImprovements2024-03-3110156285ns5:PlantMachinery2024-03-3110156285ns5:FurnitureFittings2024-03-3110156285ns5:LeaseholdImprovements2023-03-3110156285ns5:PlantMachinery2023-03-3110156285ns5:FurnitureFittings2023-03-3110156285ns5:MotorVehicles2023-03-3110156285ns5:ComputerEquipment2023-03-3110156285ns5:MotorVehicles2024-03-3110156285ns5:ComputerEquipment2024-03-3110156285ns5:MotorVehicles2023-03-3110156285ns5:ComputerEquipment2023-03-3110156285ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3110156285ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110156285ns5:WithinOneYear2024-03-3110156285ns5:WithinOneYear2023-03-3110156285ns5:BetweenOneFiveYears2024-03-3110156285ns5:BetweenOneFiveYears2023-03-3110156285ns5:AllPeriods2024-03-3110156285ns5:AllPeriods2023-03-31
REGISTERED NUMBER: 10156285 (England and Wales)






















Financial Statements

for the Year Ended 31 March 2024

for

Transportconnect Limited

Transportconnect Limited (Registered number: 10156285)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Transportconnect Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: H L Rowbotham
H Gannaway
N Hilton
J H McNamara
B Pinkett





REGISTERED OFFICE: C/o Lincolnshire County Council
Highways Depot, Sheepwash Lane
Barrowby
Grantham
Lincolnshire
NG31 8NX





REGISTERED NUMBER: 10156285 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Transportconnect Limited (Registered number: 10156285)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 348,458 498,103

CURRENT ASSETS
Debtors 5 517,347 542,460
Cash at bank 909,489 468,189
1,426,836 1,010,649
CREDITORS
Amounts falling due within one year 6 1,103,368 912,108
NET CURRENT ASSETS 323,468 98,541
TOTAL ASSETS LESS CURRENT
LIABILITIES

671,926

596,644

RESERVES
Income and expenditure account 671,926 596,644
671,926 596,644

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:




H L Rowbotham - Director



N Hilton - Director


Transportconnect Limited (Registered number: 10156285)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Transportconnect Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 139 (2023 - 137 ) .

Transportconnect Limited (Registered number: 10156285)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 23,832 254,292 22,051
Additions - 10,909 7,193
Disposals - (3,027 ) -
At 31 March 2024 23,832 262,174 29,244
DEPRECIATION
At 1 April 2023 4,551 108,891 17,943
Charge for year 2,383 48,129 3,315
Eliminated on disposal - (2,591 ) -
At 31 March 2024 6,934 154,429 21,258
NET BOOK VALUE
At 31 March 2024 16,898 107,745 7,986
At 31 March 2023 19,281 145,401 4,108

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 1,023,026 22,181 1,345,382
Additions 5,000 2,406 25,508
Disposals (180,477 ) - (183,504 )
At 31 March 2024 847,549 24,587 1,187,386
DEPRECIATION
At 1 April 2023 702,871 13,023 847,279
Charge for year 106,741 3,521 164,089
Eliminated on disposal (169,849 ) - (172,440 )
At 31 March 2024 639,763 16,544 838,928
NET BOOK VALUE
At 31 March 2024 207,786 8,043 348,458
At 31 March 2023 320,155 9,158 498,103

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,086 419,583
Other debtors 462,261 122,877
517,347 542,460

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 180,518 204,662
Taxation and social security 191,614 174,218
Other creditors 731,236 533,228
1,103,368 912,108

Transportconnect Limited (Registered number: 10156285)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 48,750 48,750
Between one and five years 114,750 163,500
163,500 212,250

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
LCC Rolling credit facility 150,000 -

The LCC Rolling credit facility and the LCC Loans are secured by way of first floating charge on all the undertaking property, assets, equipment and rights of the borrower at any time not effectively mortgaged, charged or assigned.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Shaw FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate parent is Lincolnshire County Council, County Offices, Newland, Lincoln, LN1 1YL.

11. SHARE CAPITAL

The company is limited by guarantee.