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Registered number: 06265714
Transylvania Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
E Johnson & Associates Ltd
637 Green Lanes
London
N8 0RE
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 06265714
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,695 4,763
1,695 4,763
CURRENT ASSETS
Debtors 5 - 45,474
- 45,474
Creditors: Amounts Falling Due Within One Year 6 (224,226 ) (244,864 )
NET CURRENT ASSETS (LIABILITIES) (224,226 ) (199,390 )
TOTAL ASSETS LESS CURRENT LIABILITIES (222,531 ) (194,627 )
NET LIABILITIES (222,531 ) (194,627 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (222,631 ) (194,727 )
SHAREHOLDERS' FUNDS (222,531) (194,627)
For the year 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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G D Daraban
Director
14th March 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Transylvania Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06265714 . The registered office is 8 Osborne Road, London, N4 3SF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the going concern basis. This assumes that the company will continue in operational existence for the foreseeable future.
At the balance sheet date, the company's liabilities for the period from 1 July 2023 to 30 June 2024 exceed its assets.
The director of the company has sought assurance from the creditors that their debts will not be called in within the next twelve months.
The director has been therefore deemed it appropriate that the financial statements be prepared on the going concern basis.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Computer Equipment 25% on reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 5)
1 5
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 22,696 10,948 33,644
Disposals (22,696 ) (5,589 ) (28,285 )
As at 30 June 2024 - 5,359 5,359
Depreciation
As at 1 July 2023 21,185 7,696 28,881
Provided during the period - 565 565
Disposals (21,185 ) (4,597 ) (25,782 )
As at 30 June 2024 - 3,664 3,664
Net Book Value
As at 30 June 2024 - 1,695 1,695
As at 1 July 2023 1,511 3,252 4,763
Page 2
Page 3
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 32,286
Other debtors - 13,188
- 45,474
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (2 ) -
Bank loans and overdrafts 22,925 20,240
Other creditors 195,312 181,323
Taxation and social security 5,991 43,301
224,226 244,864
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
8. Related Party Transactions
During the year, no dividend was paid to the director.
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr G D Daraban by virtue of his ownership of 100% of the issued share capital in the company.
Page 3