TRANSPORTA 1 LTD - Filleted accounts

TRANSPORTA 1 LTD - Filleted accounts

TRANSPORTA 1 LTD - Company Information

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Registered number
08275272
TRANSPORTA 1 LTD
Filleted Accounts
31 October 2018
TRANSPORTA 1 LTD
Registered number: 08275272
Balance Sheet
as at 31 October 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 1,024 1,366
Current assets
Cash at bank and in hand 1,402 558
Creditors: amounts falling due within one year 3 (1,789) (1,434)
Net current liabilities (387) (876)
Net assets 637 490
Capital and reserves
Called up share capital 100 100
Profit and loss account 537 390
Shareholders' funds 637 490
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
V Paschalis
Director
Approved by the board on 27 August 2019
TRANSPORTA 1 LTD
Notes to the Accounts
for the year ended 31 October 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Redundancy Balance
Fixtures, fittings, tools and equipment 25% Redundancy Balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Tangible fixed assets
Motor vehicles
£
Cost
At 1 November 2017 5,760
At 31 October 2018 5,760
Depreciation
At 1 November 2017 4,394
Charge for the year 342
At 31 October 2018 4,736
Net book value
At 31 October 2018 1,024
At 31 October 2017 1,366
3 Creditors: amounts falling due within one year 2018 2017
£ £
Taxation and social security costs 433 33
Accruals 528 528
Directors Current Account 828 873
1,789 1,434
4 Other information
TRANSPORTA 1 LTD is a private company limited by shares and incorporated in England. Its registered office is:
Raydean House
15 Western Parade
Barnet
Herts
EN5 1AH
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