Trans-Tom UK Ltd - Period Ending 2020-05-31

Trans-Tom UK Ltd - Period Ending 2020-05-31


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Registration number: 11339615

Trans-Tom UK Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2020

 

Trans-Tom UK Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6 to 8

 

Trans-Tom UK Ltd

Company Information

Directors

Mr Tomasz Jerzy Lis

Registered office

116 River Leys
Cheltenham
GL519SA

Accountants

KNBC Accounting Ltd
7th Floor
3 London Wall Buildings
London
EC2M 5PD

 

Trans-Tom UK Ltd

Director's Report for the Year Ended 31 May 2020

The Director presents his report and the financial statements for the year ended 31 May 2020.

Directors of the Company

The director who held office during the year was as follows:

Mr Tomasz Jerzy Lis

Principal activity

The principal activity of the company is transportation.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 19 February 2021 and signed on its behalf by:

.........................................
Mr Tomasz Jerzy Lis
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Trans-Tom UK Ltd
for the Year Ended 31 May 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Trans-Tom UK Ltd for the year ended 31 May 2020 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Accounting Techincians (MAAT) we are subject to its ethical and other professional requirements which are detailed at
https://www.aat.org.uk/sites/default/files/assets/AAT_Code_of_Professional_Ethics.pdf

This report is made solely to the Board of Directors of Trans-Tom UK Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Trans-Tom UK Ltd and state those matters that we have agreed to state to the Board of Directors of Trans-Tom UK Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trans-Tom UK Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Trans-Tom UK Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Trans-Tom UK Ltd . You consider that Trans-Tom UK Ltd is exempt from the statutory audit requirement for the year.

......................................

KNBC Accounting Ltd
7th Floor
3 London Wall Buildings
London
EC2M 5PD

19 February 2021

 

Trans-Tom UK Ltd

(Registration number: 11339615)
Balance Sheet as at 31 May 2020

Note

2020
 £

2019
 £

Current assets

 

Debtors

4

969

3,065

Cash at bank and in hand

 

2,944

999

 

3,913

4,064

Creditors: Amounts falling due within one year

5

(3,801)

(3,677)

Net assets

 

112

387

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

12

287

Total equity

 

112

387

For the financial year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 19 February 2021
 

.........................................

Mr Tomasz Jerzy Lis

Director

 

Trans-Tom UK Ltd

Statement of Changes in Equity for the Year Ended 31 May 2020

Share capital
£

Profit and loss account
£

Total
£

At 1 June 2019

100

287

387

Profit for the year

-

6,525

6,525

Total comprehensive income

-

6,525

6,525

Dividends

-

(6,800)

(6,800)

At 31 May 2020

100

12

112

Share capital
£

Profit and loss account
£

Total
£

Profit for the year

-

10,987

10,987

Total comprehensive income

-

10,987

10,987

Dividends

-

(10,700)

(10,700)

New share capital subscribed

100

-

100

At 31 May 2019

100

287

387

 

Trans-Tom UK Ltd

Notes to the Financial Statements for the Year Ended 31 May 2020

1

General information

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

The address of its registered office is:
116 River Leys
Cheltenham
GL519SA

These financial statements were authorised for issue by the director on 19 February 2021.

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 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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 sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

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 income 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.

 

Trans-Tom UK Ltd

Notes to the Financial Statements for the Year Ended 31 May 2020

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2019 - 1).

4

Debtors

2020
 £

2019
 £

Other debtors

969

3,065

Total current trade and other debtors

969

3,065

 

Trans-Tom UK Ltd

Notes to the Financial Statements for the Year Ended 31 May 2020

5

Creditors

Note

2020
 £

2019
 £

Due within one year

 

Trade creditors

 

2,184

918

Taxation and social security

 

87

182

Other creditors

 

1,530

2,577

 

3,801

3,677