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Registered number: 04142556
Tranect Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
MAR Kilshaw Limited
99 Stanley Road
Bootle
Liverpool
Merseyside
L20 7DA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04142556
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 44,601 44,602
Tangible Assets 5 449,212 400,398
493,813 445,000
CURRENT ASSETS
Stocks 6 342,953 346,451
Debtors 7 436,954 435,378
Cash at bank and in hand 82,579 131,950
862,486 913,779
Creditors: Amounts Falling Due Within One Year 8 (329,994 ) (444,969 )
NET CURRENT ASSETS (LIABILITIES) 532,492 468,810
TOTAL ASSETS LESS CURRENT LIABILITIES 1,026,305 913,810
Creditors: Amounts Falling Due After More Than One Year 9 (102,437 ) (110,819 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (117,944 ) (108,650 )
NET ASSETS 805,924 694,341
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 805,824 694,241
SHAREHOLDERS' FUNDS 805,924 694,341
Page 1
Page 2
For the year ending 31 January 2024 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms V R Smart
Director
18 October 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tranect Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04142556 . The registered office is 76 Forth Street, Liverpool, L20 8JW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are patents and licenes. These are amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold None
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 15% Reducing balance
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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Page 4
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 25)
25 25
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost or Valuation
As at 1 February 2023 23 135,079 135,102
Revaluations - 13,507 13,507
As at 31 January 2024 23 148,586 148,609
Amortisation
As at 1 February 2023 23 90,477 90,500
Provided during the period - 13,508 13,508
As at 31 January 2024 23 103,985 104,008
Net Book Value
As at 31 January 2024 - 44,601 44,601
As at 1 February 2023 - 44,602 44,602
Page 4
Page 5
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 February 2023 18,861 756,210 11,660 115,698 902,429
Additions - 120,060 2,033 3,334 125,427
As at 31 January 2024 18,861 876,270 13,693 119,032 1,027,856
Depreciation
As at 1 February 2023 - 429,084 7,971 64,976 502,031
Provided during the period - 67,076 1,430 8,107 76,613
As at 31 January 2024 - 496,160 9,401 73,083 578,644
Net Book Value
As at 31 January 2024 18,861 380,110 4,292 45,949 449,212
As at 1 February 2023 18,861 327,126 3,689 50,722 400,398
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 147,595 133,923
6. Stocks
2024 2023
£ £
Stock 287,453 346,451
Work in progress 55,500 -
342,953 346,451
Page 5
Page 6
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 407,273 390,321
Other debtors 14,424 9,707
421,697 400,028
Due after more than one year
Other debtors 15,257 35,350
436,954 435,378
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 61,689 47,816
Trade creditors 121,647 305,157
Bank loans and overdrafts 27,800 27,800
Other creditors 24,724 31,642
Taxation and social security 94,134 32,554
329,994 444,969
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 65,370 45,851
Bank loans 37,067 64,968
102,437 110,819
10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 64,867 92,768
Page 6
Page 7
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 61,689 47,816
Later than one year and not later than five years 65,370 45,851
127,059 93,667
127,059 93,667
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 7