Registration number: 05229243

Transformer Systems Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Transformer Systems Limited

(Registration number: 05229243)
Balance Sheet as at 31 March 2025

	Note	2025 £		2024 £
Fixed assets
Tangible assets	5		6,399		3,825
Current assets
Stocks	6	108,542		120,223
Debtors	7	101,658		55,591
Cash at bank and in hand		411,826		419,955
		622,026		595,769
Creditors: Amounts falling due within one year	8	(237,012)		(249,411)
Net current assets			385,014		346,358
Total assets less current liabilities			391,413		350,183
Creditors: Amounts falling due after more than one year	8		-		(12,214)
Provisions for liabilities			(1,600)		(956)
Net assets			389,813		337,013
Capital and reserves
Called up share capital		100		100
Profit and loss account		389,713		336,913
Total equity			389,813		337,013

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2025 and signed on its behalf by:
 

......................................... Mr N.H. McLoughlin Director

Transformer Systems Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
38 Whitehouse Street
Leeds
LS10 1AD

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 , including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared using the historical cost convention.

The financial statements are presented in Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	25% Reducing Balance
Fixtures & Fittings	15% Reducing Balance
Computer Equipment	25% Straight Line

Transformer Systems Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 5).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	1,434	1,848

Transformer Systems Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2025

5	Tangible assets

	Fixtures and office equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	22,718	13,659	36,377
Additions	749	4,000	4,749
Disposals	-	(4,500)	(4,500)
At 31 March 2025	23,467	13,159	36,626
Depreciation
At 1 April 2024	21,766	10,786	32,552
Charge for the year	487	947	1,434
Eliminated on disposal	-	(3,759)	(3,759)
At 31 March 2025	22,253	7,974	30,227
Carrying amount
At 31 March 2025	1,214	5,185	6,399
At 31 March 2024	952	2,873	3,825

6

Stocks

	2025 £	2024 £
Other inventories	108,542	120,223

7

Debtors

Debtors: amounts falling due within one year	2025 £	2024 £
Trade debtors	76,533	35,380
Prepayments	16,392	7,565
Other debtors	8,733	12,646
	101,658	55,591

Transformer Systems Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Loans and borrowings	9	-	10,204
Trade creditors		138,318	142,773
Taxation and social security		56,531	52,294
Other creditors		42,163	44,140
		237,012	249,411
Creditors: amounts falling due after one year
Loans and borrowings	9	-	12,214

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	10,204

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	12,214