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Registered number: 02460094
Truck Transmissions Limited
Unaudited Financial Statements
For The Year Ended 30 April 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02460094
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,225 35,159
29,225 35,159
CURRENT ASSETS
Stocks 5 12,873 15,969
Debtors 6 94,538 52,685
Cash at bank and in hand 373,917 207,947
481,328 276,601
Creditors: Amounts Falling Due Within One Year 7 (217,962 ) (103,469 )
NET CURRENT ASSETS (LIABILITIES) 263,366 173,132
TOTAL ASSETS LESS CURRENT LIABILITIES 292,591 208,291
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,951 ) (2,298 )
NET ASSETS 290,640 205,993
CAPITAL AND RESERVES
Called up share capital 8 100 40,000
Capital redemption reserve 39,900 -
Profit and Loss Account 250,640 165,993
SHAREHOLDERS' FUNDS 290,640 205,993
Page 1
Page 2
For the year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 P Drugan
Director
22/09/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Truck Transmissions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02460094 . The registered office is Unit 1 Thwaites Close, Shadsworth Business Park, Blackburn, BB1 2QQ.
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.
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:
Freehold Straight Line over thirty three years
Leasehold Straight Line over five years
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 15% Straight Line
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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 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.
Basic financial liabilities
...CONTINUED
Page 3
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2.6. Financial Instruments - continued
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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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.
2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2025: 10)
8 10
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 May 2025 328,478 - 86,734 54,674
Additions - 13,037 5,148 -
Disposals (328,478 ) - (51,178 ) (8,075 )
As at 30 April 2026 - 13,037 40,704 46,599
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 May 2025 328,478 - 67,709 40,293
Provided during the period - 1,956 2,965 5,837
Disposals (328,478 ) - (37,911 ) (6,326 )
As at 30 April 2026 - 1,956 32,763 39,804
Net Book Value
As at 30 April 2026 - 11,081 7,941 6,795
As at 1 May 2025 - - 19,025 14,381
Fixtures & Fittings Total
£ £
Cost
As at 1 May 2025 21,970 491,856
Additions 2,200 20,385
Disposals - (387,731 )
As at 30 April 2026 24,170 124,510
Depreciation
As at 1 May 2025 20,217 456,697
Provided during the period 545 11,303
Disposals - (372,715 )
As at 30 April 2026 20,762 95,285
Net Book Value
As at 30 April 2026 3,408 29,225
As at 1 May 2025 1,753 35,159
5. Stocks
2026 2025
£ £
Stock 12,873 15,969
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 85,021 51,389
Other debtors 9,517 1,296
94,538 52,685
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Page 6
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 90,724 66,131
Other creditors 6,166 8,661
Taxation and social security 121,072 28,677
217,962 103,469
8. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 100 40,000
During the year, the Company purchased its own shares from two of its shareholders. On 8 October 2025, the Company purchased 19,950 ordinary shares of £1 each from Mrs J Drugan and 19,950 ordinary shares of £1 each from Mrs M Turner, for cash consideration of £428,333 each (£856,666 in total), representing their entire holdings in the Company. The shares purchased were cancelled immediately on completion, reducing the Company's issued share capital by £39,900. In accordance with section 733 of the Companies Act 2006, a transfer of £39,900, equal to the nominal value of the shares cancelled, has been made from retained earnings to a non-distributable capital redemption reserve.
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2026 2025
£ £
Not later than one year 21,555 4,962
Later than one year and not later than five years 65,980 1,828
87,535 6,790
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