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COMPANY REGISTRATION NUMBER: 05106945
Transform Architectural Visualisation Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Transform Architectural Visualisation Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
29,003
42,134
Current assets
Debtors
6
198,768
85,087
Cash at bank and in hand
224,280
730,342
----------
----------
423,048
815,429
Creditors: amounts falling due within one year
7
141,439
541,806
----------
----------
Net current assets
281,609
273,623
----------
----------
Total assets less current liabilities
310,612
315,757
Creditors: amounts falling due after more than one year
8
12,235
22,435
----------
----------
Net assets
298,377
293,322
----------
----------
Transform Architectural Visualisation Limited
Statement of Financial Position (continued)
30 April 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
150
150
Profit and loss account
298,227
293,172
----------
----------
Shareholders funds
298,377
293,322
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 November 2024 , and are signed on behalf of the board by:
Mr. M.N. Bell
Director
Company registration number: 05106945
Transform Architectural Visualisation Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Rushmead Court, Osset, Wakefield, West Yorkshire, WF5 0NZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the provision of services is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(d) Current & deferred tax
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
33% straight line
Motor Vehicles
-
33% straight line
Equipment
-
33% straight line
(g) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(h) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 7 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
17,497
51,962
86,259
155,718
Additions
433
2,210
2,643
--------
--------
--------
----------
At 30 April 2024
17,930
51,962
88,469
158,361
--------
--------
--------
----------
Depreciation
At 1 May 2023
11,523
20,208
81,853
113,584
Charge for the year
2,694
10,104
2,976
15,774
--------
--------
--------
----------
At 30 April 2024
14,217
30,312
84,829
129,358
--------
--------
--------
----------
Carrying amount
At 30 April 2024
3,713
21,650
3,640
29,003
--------
--------
--------
----------
At 30 April 2023
5,974
31,754
4,406
42,134
--------
--------
--------
----------
6. Debtors
2024
2023
£
£
Trade debtors
12,407
71,685
Amounts owed by group undertakings
173,369
Other debtors
12,992
13,402
----------
--------
198,768
85,087
----------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,204
9,952
Trade creditors
1,569
Accruals
1,970
2,157
Corporation tax
103,513
72,337
Social security and other taxes
25,752
23,857
Other creditors
431,934
----------
----------
141,439
541,806
----------
----------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,235
22,435
--------
--------
9. Related party transactions
The company has taken advantage of the exemptions provided in FRS 102 from reporting transactions between wholly owned members of the group. As at 30 April 2024 the company owed to the director s £nil (2023: £Nil) being the balance on their directors loan accounts . This amount is interest free and repayable on demand.
10. Controlling party
The company is a wholly owned subsidiary of Transform AV Holdings Ltd, a company registered in England and Wales.