Company Registration No. 02380724 (England and Wales)
TRANS ONE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
Affinia
The Octagon Suite E2
2nd Floor Middleborough
Colchester
Essex
CO1 1TG
TRANS ONE LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
TRANS ONE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 MARCH 2025
30 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,532
4,756
Investment property
5
2,322,500
2,437,500
2,325,032
2,442,256
Current assets
Stocks
307,820
307,820
Debtors
6
39,749
96,398
Cash at bank and in hand
1,664
92,095
349,233
496,313
Creditors: amounts falling due within one year
7
(116,510)
(427,281)
Net current assets
232,723
69,032
Total assets less current liabilities
2,557,755
2,511,288
Provisions for liabilities
(497,937)
(492,246)
Net assets
2,059,818
2,019,042
TRANS ONE LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 MARCH 2025
30 March 2025
2025
2024
Notes
£
£
£
£
- 2 -
Capital and reserves
Called up share capital
100
100
Revaluation reserve
1,379,209
1,474,028
Profit and loss reserves
680,509
544,914
Total equity
2,059,818
2,019,042
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 July 2025 and are signed on its behalf by:
Mr A J Davis
Director
Company Registration No. 02380724
TRANS ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
- 3 -
1
Accounting policies
Company information
Trans One Limited is a private company limited by shares incorporated in England and Wales. The registered office is 33 Northgate, Tickhill, South Yorkshire, DN11 9HZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “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 than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Equipment
33.3% Straight Line
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.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
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.
TRANS ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.9
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
TRANS ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 March 2024
10,677
Additions
721
At 30 March 2025
11,398
Depreciation and impairment
At 31 March 2024
5,921
Depreciation charged in the year
2,945
At 30 March 2025
8,866
Carrying amount
At 30 March 2025
2,532
At 30 March 2024
4,756
5
Investment property
2025
£
Fair value
At 31 March 2024
2,437,500
Disposals
(115,000)
At 30 March 2025
2,322,500
Investment property comprises £2,322,500. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
TRANS ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
- 6 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,218
15
Other debtors
38,531
96,383
39,749
96,398
7
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
12,164
37,489
Other creditors
104,346
389,792
116,510
427,281
There are fixed and floating charges over all assets of the business dated 14 February 2002, 2 August 2001, 22 June 2001, 25 May 2001, 8 May 2001, 2 March 2001, 1 December 2000, 31 October 2000, 5 October 2000, 22 September 2000, 14 August 2000, 11 August 2000, 12 July 2000 and 20 June 2000.
8
Directors' transactions
No guarantees have been given or received during the year.