1 April 2023 false Taxfiler 2024.7 09375096business:PrivateLimitedCompanyLtd2023-04-012024-03-31 093750962023-03-31 093750962023-04-012024-03-31 09375096business:AuditExemptWithAccountantsReport2023-04-012024-03-31 09375096business:FilletedAccounts2023-04-012024-03-31 093750962024-03-31 09375096business:Director12023-04-012024-03-31 09375096business:Director22023-04-012024-03-31 09375096business:Director32023-04-012024-03-31 09375096business:RegisteredOffice2023-04-012024-03-31 093750962023-03-31 09375096core:WithinOneYear2024-03-31 09375096core:WithinOneYear2023-03-31 09375096core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 09375096core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 09375096core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 09375096core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 09375096core:PreviouslyStatedAmount2024-03-31 09375096core:PreviouslyStatedAmount2023-03-31 09375096business:SmallEntities2023-04-012024-03-31 09375096countries:EnglandWales2023-04-012024-03-31 09375096core:ComputerEquipment2023-04-012024-03-31 09375096core:ComputerEquipment2023-03-31 09375096core:ComputerEquipment2024-03-31 09375096business:OrdinaryShareClass12023-04-012024-03-31 09375096business:OrdinaryShareClass12022-04-012023-03-31 093750962022-04-012023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 09375096 (England and Wales)
Tranxactor UK PTE Ltd Unaudited accounts for the year ended 31 March 2024
Tranxactor UK PTE Ltd Unaudited accounts Contents
Page
- 2 -
Tranxactor UK PTE Ltd Company Information for the year ended 31 March 2024
Directors
F Lim J A Norrie R J Northcott
Company Number
09375096 (England and Wales)
Registered Office
167-169 Great Portland Street 5th Floor London W1W 5PF
Accountants
Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ
- 3 -
Tranxactor UK PTE Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,104 
1,707 
Current assets
Debtors
1,702,495 
1,128,490 
Cash at bank and in hand
121,551 
273,717 
1,824,046 
1,402,207 
Creditors: amounts falling due within one year
(434,798)
(325,886)
Net current assets
1,389,248 
1,076,321 
Net assets
1,390,352 
1,078,028 
Capital and reserves
Called up share capital
500 
500 
Profit and loss account
1,389,852 
1,077,528 
Shareholders' funds
1,390,352 
1,078,028 
For the year ending 31 March 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by
F Lim Director Company Registration No. 09375096
- 4 -
Tranxactor UK PTE Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Tranxactor UK PTE Ltd is a private company, limited by shares, registered in England and Wales, registration number 09375096. The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other then where additional disclosure is required to show a true and fair view.
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of Services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably. Turnover represents amounts receivable for provision of analytical sales and marketing services.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% straight line
- 5 -
Tranxactor UK PTE Ltd Notes to the Accounts for the year ended 31 March 2024
Impairment of fixed assets
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 6 -
Tranxactor UK PTE Ltd Notes to the Accounts for the year ended 31 March 2024
Financial instruments
Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Impairment of financial assets Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Taxation
The tax expense represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
- 7 -
Tranxactor UK PTE Ltd Notes to the Accounts for the year ended 31 March 2024
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
3,858 
Additions
480 
Disposals
(441)
At 31 March 2024
3,897 
Depreciation
At 1 April 2023
2,151 
Charge for the year
1,083 
On disposals
(441)
At 31 March 2024
2,793 
Net book value
At 31 March 2024
1,104 
At 31 March 2023
1,707 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
13,542 
4,367 
Trade debtors
212,235 
206,964 
Amounts due from group undertakings etc.
1,453,711 
908,128 
Accrued income and prepayments
23,007 
7,081 
Other debtors
- 
1,950 
1,702,495 
1,128,490 
- 8 -
Tranxactor UK PTE Ltd Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
54,242 
2,973 
Amounts owed to group undertakings and other participating interests
262,907 
200,140 
Taxes and social security
114,154 
117,958 
Other creditors
1,210 
1,540 
Accruals
2,285 
3,275 
434,798 
325,886 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
500 Ordinary shares of £1 each
500 
500 
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
12,393 
9
Transactions with related parties
The Company has taken the advantage of Section 33 paragraph 1A not to disclose transactions with wholly owned group members.
10
Controlling party
The company is controlled by Tranxactor New Zealand Limited (previously known as Transactor Technologies Limited) , a company registered in New Zealand, by virtue of its ownership of 100% of the issued ordinary share capital in the company.
11
Average number of employees
During the year the average number of employees was 12 (2023: 11).
- 9 -