Registration number:
Transmission NQ Limited
for the Year Ended 31 March 2025
Transmission NQ Limited
(Registration number: 13078291)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
- |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
Approved and authorised by the
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Transmission NQ Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the parent company. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.
Audit report
Transmission NQ Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Judgements
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 revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
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;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current 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.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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.
Investment property
Transmission NQ Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Investment property |
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2025 |
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At 1 April |
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At 31 March |
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The Directors' revalued the investment properties as at 31 March 2025 based on their experience in the property market, location and class of the investment property.
The historical cost of the investment property if it had not been revalued would have been £4,217,054 (2024: £4,217,054).
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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Other debtors |
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Transmission NQ Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Included within loans and borrowings due after one year is an amount of £1,801,803 (2024 £1,806,288) in relation to a loan which is secured by three charges created on 15 December 2023.
The charges were created by Cynergy Bank Limited and created a fixed and floating charge over all the property or undertaking of the company as well as a charge over all the leasehold interest in the land and property known as apartment 103, plot number 3, third floor, Transmission House, Tib street, Manchester M4 along with all other interests and estates in freehold, leasehold and commonhold property together with all buildings and fixtures (including trade fixtures) and fixed plant and machinery at any time thereon.
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Parent and ultimate parent undertaking |
The immediate parent company is Salboy Real Estate Limited, a company incorporated in England and Wales, company number 13029478, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.
The ultimate parent company is Salboy Limited, a company incorporated in England and Wales, company number 09123542, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.
The shareholders of Salboy Limited are considered to be the controlling party.
The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.