17 June 2023 false No description of principal activity Taxfiler 2024.6 SC772980business:PrivateLimitedCompanyLtd2023-06-172024-06-30 SC7729802023-06-16 SC7729802023-06-172024-06-30 SC772980business:AuditExempt-NoAccountantsReport2023-06-172024-06-30 SC772980business:FilletedAccounts2023-06-172024-06-30 SC7729802024-06-30 SC772980business:Director12023-06-172024-06-30 SC772980business:RegisteredOffice2023-06-172024-06-30 SC772980core:WithinOneYear2024-06-30 SC772980core:ShareCapitalcore:PreviouslyStatedAmount2024-06-30 SC772980core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-06-30 SC772980core:PreviouslyStatedAmount2024-06-30 SC772980business:SmallEntities2023-06-172024-06-30 SC772980countries:Scotland2023-06-172024-06-30 SC772980core:MotorVehicles2023-06-16 SC772980core:MotorVehicles2023-06-172024-06-30 SC772980core:MotorVehicles2024-06-30 SC772980core:AfterOneYear2024-06-30 iso4217:GBP xbrli:pure
Company Registration No. SC772980 (Scotland)
Transit Innovations Ltd Unaudited accounts for the period from 17 June 2023 to 30 June 2024
Transit Innovations Ltd Unaudited accounts Contents
Page
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Transit Innovations Ltd Company Information for the period from 17 June 2023 to 30 June 2024
Director
Ibrar Hussain SAID
Company Number
SC772980 (Scotland)
Registered Office
5 South Charlotte Street Edinburgh Midlothian EH2 4AN Scotland
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Transit Innovations Ltd Statement of financial position as at 30 June 2024
2024 
Notes
£ 
Fixed assets
Tangible assets
1,561 
Current assets
Debtors
237 
Cash at bank and in hand
478 
715 
Creditors: amounts falling due within one year
(809)
Net current liabilities
(94)
Net assets
1,467 
Capital and reserves
Called up share capital
1 
Profit and loss account
1,466 
Shareholders' funds
1,467 
For the period ending 30 June 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 director acknowledges his 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 and authorised for issue on 5 March 2025 and were signed on its behalf by
Ibrar Hussain SAID Director Company Registration No. SC772980
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Transit Innovations Ltd Notes to the Accounts for the period from 17 June 2023 to 30 June 2024
1
Statutory information
Transit Innovations Ltd is a private company, limited by shares, registered in Scotland, registration number SC772980. The registered office is 5 South Charlotte Street, Edinburgh, Midlothian, EH2 4AN, Scotland.
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 been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 17 June 2023
- 
Additions
1,837 
At 30 June 2024
1,837 
Depreciation
Charge for the period
276 
At 30 June 2024
276 
Net book value
At 30 June 2024
1,561 
5
Debtors
2024 
£ 
Amounts falling due after more than one year
Other debtors
237 
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Transit Innovations Ltd Notes to the Accounts for the period from 17 June 2023 to 30 June 2024
6
Creditors: amounts falling due within one year
2024 
£ 
Taxes and social security
409 
Accruals
400 
809 
7
Average number of employees
During the period the average number of employees was 1.
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