REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
LIGHT RAIL SSB LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
LIGHT RAIL SSB LIMITED |
LIGHT RAIL SSB LIMITED (REGISTERED NUMBER: 11516814) |
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 |
LIGHT RAIL SSB LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Black Country House |
Rounds Green Road |
Oldbury |
West Midlands |
B69 2DG |
LIGHT RAIL SSB LIMITED (REGISTERED NUMBER: 11516814) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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 |
LIGHT RAIL SSB LIMITED (REGISTERED NUMBER: 11516814) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Light Rail SSB Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Government grants |
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. |
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure. |
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. |
LIGHT RAIL SSB LIMITED (REGISTERED NUMBER: 11516814) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Corporation tax |
VAT | - | 40,552 |
Other creditors |
Accruals and deferred income |
6. | RELATED PARTY DISCLOSURES |
During the year; £1,650 exclusive of VAT, was paid to Byrne-Bright Solutions Limited in respect of consultancy charges, a company in which Ms S Byrne is the controlling entity (2023: £6,792). |
£NIL exclusive of VAT, was paid to SmartTrams Limited in respect of consultancy charges, a company in which Mr James Hammett has the controlling interest. Mr Hammett is a director of the Company's parent, UKTrams Limited (2023: £3,000). |
£13,200 exclusive of VAT, was paid to Scotia Light Rail Services Limited in respect of consultancy charges, a company in which Mr Colin Kerr has the controlling interest. Mr Kerr is a director of Scotia Light Rail Services Limited (2023: £NIL). |
7. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |