TRANSAX NETWORKS LTD

Company Registration Number:
11780954 (England and Wales)

Unaudited statutory accounts for the year ended 30 January 2024

Period of accounts

Start date: 31 January 2023

End date: 30 January 2024

TRANSAX NETWORKS LTD

Contents of the Financial Statements

for the Period Ended 30 January 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

TRANSAX NETWORKS LTD

Profit And Loss Account

for the Period Ended 30 January 2024

2024 2023


£

£
Turnover: 18,078,238 5,955,632
Cost of sales: ( 15,148,939 ) ( 5,300,512 )
Gross profit(or loss): 2,929,299 655,120
Distribution costs: ( 321,578 ) ( 255,678 )
Administrative expenses: ( 171,267 ) ( 143,744 )
Operating profit(or loss): 2,436,454 255,698
Profit(or loss) before tax: 2,436,454 255,698
Profit(or loss) for the financial year: 2,436,454 255,698

TRANSAX NETWORKS LTD

Balance sheet

As at 30 January 2024

Notes 2024 2023


£

£
Called up share capital not paid: 4,000 2,500
Fixed assets
Intangible assets: 3 260,861 125,000
Tangible assets: 4 3,041,811 223,678
Investments: 5 225,467
Total fixed assets: 3,528,139 348,678
Current assets
Stocks: 6 345,628 135,621
Debtors: 7 468,289 256,789
Cash at bank and in hand: 598,223 325,698
Investments:   0
Total current assets: 1,412,140 718,108
Prepayments and accrued income: 67,891 0
Creditors: amounts falling due within one year: 8 ( 382,967 ) ( 132,691 )
Net current assets (liabilities): 1,097,064 585,417
Total assets less current liabilities: 4,629,203 936,595
Creditors: amounts falling due after more than one year: 9 ( 245,734 ) ( 243,872 )
Provision for liabilities: ( 218,534 ) ( 175,788 )
Accruals and deferred income: ( 27,267 )
Total net assets (liabilities): 4,137,668 516,935
Capital and reserves
Called up share capital: 4,500 3,000
Other reserves: 1,696,714 258,237
Profit and loss account: 2,436,454 255,698
Total Shareholders' funds: 4,137,668 516,935

The notes form part of these financial statements

TRANSAX NETWORKS LTD

Balance sheet statements

For the year ending 30 January 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 25 October 2024
and signed on behalf of the board by:

Name: Muhammad Saqlain Sajid
Status: Director

The notes form part of these financial statements

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is Recognised When it is Probable that Its Economic Benefits associated with tranactions will flow to company.

    Tangible fixed assets depreciation policy

    Assets Should be Depreciated at Reducing Balance Method at 15% Annually.

    Other accounting policies

    These financial statements have been prepared in accordance with the provisions of Section l A (Small Entities) of Financial Reporting Standards 102

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 22 9

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 31 January 2023 125,000 0 125,000
Additions 135,861 0 135,861
Disposals
Revaluations
Transfers
At 30 January 2024 260,861 0 260,861
Amortisation
At 31 January 2023 0 0 0
Charge for year 0 0 0
On disposals 0 0 0
Other adjustments
At 30 January 2024 0 0 0
Net book value
At 30 January 2024 260,861 0 260,861
At 30 January 2023 125,000 0 125,000

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 31 January 2023 115,678 35,678 16,287 45,691 10,344 223,678
Additions 1,845,389 455,783 355,871 35,367 125,723 2,818,133
Disposals
Revaluations
Transfers
At 30 January 2024 1,961,067 491,461 372,158 81,058 136,067 3,041,811
Depreciation
At 31 January 2023 0 0 0 0 0 0
Charge for year 0 0 0 0 0 0
On disposals 0 0 0 0 0 0
Other adjustments
At 30 January 2024 0 0 0 0 0 0
Net book value
At 30 January 2024 1,961,067 491,461 372,158 81,058 136,067 3,041,811
At 30 January 2023 115,678 35,678 16,287 45,691 10,344 223,678

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

5. Fixed assets investments note

Computers, Scanners, Printers, Mobiles, Furniture, Fans, Heater, Air Conditioner, Car, Soft Switches.

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

6. Stocks

2024 2023
£ £
Stocks 345,628 135,621
Total 345,628 135,621

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

7. Debtors

2024 2023
£ £
Trade debtors 468,289 256,789
Total 468,289 256,789

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

8. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 382,967 132,691
Total 382,967 132,691

TRANSAX NETWORKS LTD

Notes to the Financial Statements

for the Period Ended 30 January 2024

9. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 245,734 243,872
Total 245,734 243,872