Company registration number 01048352 (England and Wales)
TRACTION EQUIPMENT (STAFFORD) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
TRACTION EQUIPMENT (STAFFORD) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
TRACTION EQUIPMENT (STAFFORD) LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,266,125
2,415,738
Current assets
Stocks
28,813
34,022
Debtors
5
169,733
195,521
Cash at bank and in hand
179,154
95,527
377,700
325,070
Creditors: amounts falling due within one year
6
(269,587)
(279,339)
Net current assets
108,113
45,731
Total assets less current liabilities
2,374,238
2,461,469
Creditors: amounts falling due after more than one year
7
(123,176)
(123,856)
Provisions for liabilities
(308,925)
(313,933)
Net assets
1,942,137
2,023,680
Capital and reserves
Called up share capital
4,600
4,600
Share premium account
13,000
13,000
Non-distributable reserve
323,527
325,873
Profit and loss reserves
1,601,010
1,680,207
Total equity
1,942,137
2,023,680

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 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.

T he 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.

TRACTION EQUIPMENT (STAFFORD) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2025
31 May 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 February 2026 and are signed on its behalf by:
Mr M Bloomer
Director
Company Registration No. 01048352
TRACTION EQUIPMENT (STAFFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

Traction Equipment (Stafford) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Glover Street, Stafford, ST16 2NY.

1.1
Basis of preparation

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 a mounts 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
Going concern

At true the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently at deemed cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets, excluding freehold land, less their residual values over their useful lives on the following bases:

Freehold buildings
straight line over twenty five years
Plant and machinery
8% p. a. and 15% p. a. reducing balance
Fixtures, fittings & equipment
15% p.a. reducing balance and 25% p. a. straight line
Motor vehicles
25% p. a. reducing balance
TRACTION EQUIPMENT (STAFFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.7
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 balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

TRACTION EQUIPMENT (STAFFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.9
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 profit and loss account 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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TRACTION EQUIPMENT (STAFFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 6 -
1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are assessed annually. They are amended when necessary to reflect current estimates based on technological advancement, economic utilisation and the physical condition of the assets. See note 4 for the carrying amount of the property, plant and equipment, and note 1.4 for the useful economic lives of each asset.

TRACTION EQUIPMENT (STAFFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
11
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 June 2024
483,242
3,496,969
3,980,211
Additions
-
0
195,145
195,145
Disposals
-
0
(348,664)
(348,664)
At 31 May 2025
483,242
3,343,450
3,826,692
Depreciation and impairment
At 1 June 2024
69,408
1,495,065
1,564,473
Depreciation charged in the year
3,231
181,716
184,947
Eliminated in respect of disposals
-
0
(188,853)
(188,853)
At 31 May 2025
72,639
1,487,928
1,560,567
Carrying amount
At 31 May 2025
410,603
1,855,522
2,266,125
At 31 May 2024
413,834
2,001,904
2,415,738

If revalued assets were stated on an historical cost basis rather than at deemed cost, the total amounts included would have been as follows:

2025
2024
£
£
Cost
3,415,100
3,542,398
Accumulated depreciation
(1,490,015)
(1,468,625)
Carrying value
1,925,085
2,073,773
TRACTION EQUIPMENT (STAFFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
169,733
194,451
Other debtors
-
0
1,070
169,733
195,521
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
73,521
98,171
Taxation and social security
46,624
36,253
Other creditors
149,442
144,915
269,587
279,339

Total secured liabilities due within one year amounted to £142,477 (2024: £139,488), in respect of HP obligations which are secured on the assets concerned..

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
123,176
123,856

Total secured liabilities due after one year amounted to £123,176 (2024: £123,856), in respect of HP obligations which are secured on the assets concerned..

2025-05-31 2024-06-01 false false false 12 February 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr Matthew Bloomer Mrs D Cook Mr T Hayward 01048352 2024-06-01 2025-05-31 01048352 2025-05-31 01048352 2024-05-31 01048352 core:LandBuildings 2025-05-31 01048352 core:OtherPropertyPlantEquipment 2025-05-31 01048352 core:LandBuildings 2024-05-31 01048352 core:OtherPropertyPlantEquipment 2024-05-31 01048352 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 01048352 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 01048352 core:Non-currentFinancialInstruments core:AfterOneYear 2025-05-31 01048352 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 01048352 core:CurrentFinancialInstruments 2025-05-31 01048352 core:CurrentFinancialInstruments 2024-05-31 01048352 core:ShareCapital 2025-05-31 01048352 core:ShareCapital 2024-05-31 01048352 core:SharePremium 2025-05-31 01048352 core:SharePremium 2024-05-31 01048352 core:RevaluationReserve 2025-05-31 01048352 core:RevaluationReserve 2024-05-31 01048352 core:RetainedEarningsAccumulatedLosses 2025-05-31 01048352 core:RetainedEarningsAccumulatedLosses 2024-05-31 01048352 bus:Director1 2024-06-01 2025-05-31 01048352 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 01048352 core:PlantMachinery 2024-06-01 2025-05-31 01048352 core:FurnitureFittings 2024-06-01 2025-05-31 01048352 core:MotorVehicles 2024-06-01 2025-05-31 01048352 2023-06-01 2024-05-31 01048352 core:LandBuildings 2024-05-31 01048352 core:OtherPropertyPlantEquipment 2024-05-31 01048352 2024-05-31 01048352 core:LandBuildings 2024-06-01 2025-05-31 01048352 core:OtherPropertyPlantEquipment 2024-06-01 2025-05-31 01048352 core:Non-currentFinancialInstruments 2025-05-31 01048352 core:Non-currentFinancialInstruments 2024-05-31 01048352 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 01048352 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 01048352 bus:FRS102 2024-06-01 2025-05-31 01048352 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 01048352 bus:Director2 2024-06-01 2025-05-31 01048352 bus:Director3 2024-06-01 2025-05-31 01048352 bus:FullAccounts 2024-06-01 2025-05-31 xbrli:pure xbrli:shares iso4217:GBP