REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 March 2024 |
for |
CAPITAL TRAFFIC MANAGEMENT LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 March 2024 |
for |
CAPITAL TRAFFIC MANAGEMENT LIMITED |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Contents of the Financial Statements |
for the year ended 30 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CAPITAL TRAFFIC MANAGEMENT LIMITED |
Company Information |
for the year ended 30 March 2024 |
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 2024 |
2024 | 2023 |
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 year ended 30 March 2024 |
1. | Statutory information |
Capital Traffic Management Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The Directors have a reasonable expectation that the Company has adequate resources for a period of at least 12 months from the date of approval of the financial statements. |
In assessing the appropriateness of the going concern basis of accounting, the Board have taken into account a number of factors including current operating performance, cash liquidity, approved budgets forecasts covering the going concern period and forecast banking compliance ratios. |
Management has prepared, and the Directors have reviewed and approved, budgets for the year ending 30 March 2025. These budgets include profit projections and cash flow forecasts. Longer term 5 year plans out to March 2028 have also been prepared and reviewed by the Board. An element of uncertainty is inherent in forecasting and key sensitivities have been considered when budgets are prepared and approved. |
Consequently, the Directors are satisfied that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. |
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. |
Turnover in the current year represents the recharge of the depreciation expense to another group company. |
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. |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Notes to the Financial Statements - continued |
for the year ended 30 March 2024 |
3. | Accounting policies - continued |
Taxation |
Taxation for the year 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. |
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 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 year was NIL (2023 - NIL). |
5. | Tangible fixed assets |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 31 March 2023 |
and 30 March 2024 |
Depreciation |
At 31 March 2023 |
Charge for year |
At 30 March 2024 |
Net book value |
At 30 March 2024 |
At 30 March 2023 |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Notes to the Financial Statements - continued |
for the year ended 30 March 2024 |
5. | Tangible fixed assets - continued |
Included within the net book value of tangible fixed assets is £65,644 (2023 - £153,698) in respect of assets held under finance lease arrangements. Depreciation for the year on these assets was £88,054 (2023 - £106,111). |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Hire purchase contracts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
VAT | 44,537 | 3,257 |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Hire purchase contracts (see note 9) |
9. | Leasing agreements |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
CAPITAL TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 05703611) |
Notes to the Financial Statements - continued |
for the year ended 30 March 2024 |
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. Copies of the group accounts are available from Chaddock Lane, Worsley, Greater Manchester M28 1XW. |
OMERS Administration Corporation is the ultimate controlling party of Nyetimber Finco Limited. |