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Registered number: 05262759
Traxx Manufacturing & Distribution UK Ltd
Financial Statements
For The Year Ended 30 November 2024
Aspirations Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05262759
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72,729 96,972
Investments 5 271,430 271,430
344,159 368,402
CURRENT ASSETS
Debtors 6 98,780 154,044
Cash at bank and in hand 28,008 7,974
126,788 162,018
Creditors: Amounts Falling Due Within One Year 7 (277,534 ) (334,149 )
NET CURRENT ASSETS (LIABILITIES) (150,746 ) (172,131 )
TOTAL ASSETS LESS CURRENT LIABILITIES 193,413 196,271
Creditors: Amounts Falling Due After More Than One Year 8 (14,746 ) (18,775 )
NET ASSETS 178,667 177,496
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 178,567 177,396
SHAREHOLDERS' FUNDS 178,667 177,496
Page 1
Page 2
For the year ending 30 November 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 Ian Calderwood
Director
26/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Traxx Manufacturing & Distribution UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05262759 . The registered office is The 1921 Building, East Malling Business Centre, New Road, East Malling, Kent, ME19 6BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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:
Motor Vehicles @25% Depreciation, WDV Method
Fixtures & Fittings @25% Depreciation, WDV Method
Computer Equipment @25% Depreciation, WDV Method
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 165,409 11,973 983 178,365
As at 30 November 2024 165,409 11,973 983 178,365
Depreciation
As at 1 December 2023 77,696 3,451 246 81,393
Provided during the period 21,928 2,131 184 24,243
As at 30 November 2024 99,624 5,582 430 105,636
Net Book Value
As at 30 November 2024 65,785 6,391 553 72,729
As at 1 December 2023 87,713 8,522 737 96,972
5. Investments
Unlisted
£
Cost
As at 1 December 2023 271,430
As at 30 November 2024 271,430
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 271,430
As at 1 December 2023 271,430
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,524 57,806
Other debtors 74,256 84,144
VAT - 12,034
Other taxes and social security - 60
98,780 154,044
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,422 14,164
VAT 381 -
Other creditors - 1,296
Accruals and deferred income - 29,426
Director's loan account 5,810 16,495
Amounts owed to related parties 261,921 272,768
277,534 334,149
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,746 18,775
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5