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Registration number: 04264205

Traffic And Intelligent Systems Consultants Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Traffic And Intelligent Systems Consultants Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

Traffic And Intelligent Systems Consultants Limited

Company Information

Director

Mr AA Thompson

Company secretary

Mrs LM Thompson

Registered office

Willow End
Riverbank
Thames Ditton
Surrey
KT7 0QU

Accountants

Jordan Ludlow & Associates Limited
Accountants9 Limes Road
Beckenham
Kent
BR3 6NS

 

Traffic And Intelligent Systems Consultants Limited

Director's Report for the Year Ended 31 August 2024

The director presents his report and the financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

Mr AA Thompson

Principal activity

The principal activity of the company is that of property investment.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 January 2025
 

.........................................
Mr AA Thompson
Director

 

Traffic And Intelligent Systems Consultants Limited

(Registration number: 04264205)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

989

1,319

Investment property

5

441,962

441,962

Other financial assets

6

-

368

 

442,951

443,649

Current assets

 

Debtors

7

32,279

48,129

Cash at bank and in hand

 

5,920

18,681

 

38,199

66,810

Creditors: Amounts falling due within one year

8

(10,977)

(19,243)

Net current assets

 

27,222

47,567

Total assets less current liabilities

 

470,173

491,216

Creditors: Amounts falling due after more than one year

8

(352,063)

(352,058)

Net assets

 

118,110

139,158

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

118,010

139,058

Shareholders' funds

 

118,110

139,158

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Approved and authorised by the director on 24 January 2025
 

.........................................
Mr AA Thompson
Director

 

Traffic And Intelligent Systems Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Willow End
Riverbank
Thames Ditton
Surrey
KT7 0QU

These financial statements were authorised for issue by the director on 24 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Traffic And Intelligent Systems Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% per annum, reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Traffic And Intelligent Systems Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Traffic And Intelligent Systems Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

8,360

8,360

At 31 August 2024

8,360

8,360

Depreciation

At 1 September 2023

7,041

7,041

Charge for the year

330

330

At 31 August 2024

7,371

7,371

Carrying amount

At 31 August 2024

989

989

At 31 August 2023

1,319

1,319

5

Investment properties

2024
£

At 1 September

441,962

At 31 August

441,962

There has been no valuation of investment property by an independent valuer.

 

Traffic And Intelligent Systems Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

368

368

Disposals

(368)

(368)

At 31 August 2024

-

-

Impairment

Carrying amount

At 31 August 2024

-

-

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,271

913

Amounts owed by related parties

12

22,006

36,006

Other debtors

 

9,002

11,210

   

32,279

48,129

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

30

56

Trade creditors

 

5,325

5,325

Taxation and social security

 

1,542

9,902

Accruals and deferred income

 

4,080

3,960

 

10,977

19,243

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

352,063

352,058

 

Traffic And Intelligent Systems Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

352,063

352,058

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

37

Other borrowings

30

19

30

56

11

Dividends

2024

2023

£

£

Interim dividend of £274.00 (2023 - £267.40) per ordinary share

27,400

26,740

 

 

12

Related party transactions

Dividends paid to the director

2024
£

2023
£

Mr AA Thompson

Dividends declared

16,440

16,044

 

 

 

Traffic And Intelligent Systems Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Summary of transactions with other related parties

Loan to participator On the 15th February 2016, a Leasehold Property owned by the Company, 13 Hazelwell Road, Putney SW15 6LU, was sold to a Participator of the Company for £315,000. The Company advanced a loan of £44,840 to the Participator of the Company to assist in the Purchase.
This loan carries interest at the official HMRC 'Beneficial loan arrangement' rate and there are no terms of repayment. The Company is liable under section 419 ICTA 1988 to account to HMRC for Corporation Tax at 25% of the loan giving an original liability of £11,210 which was paid by the company. This loan has been partly repaid in the period and the Loan to Participator balance as at 31st August 2024 was £22,006 (2023 - £36,006).