Transwave Limited - Limited company - abbreviated - 11.6

Transwave Limited

Abbreviated Accounts for the Year Ended 30 September 2014

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Transwave Limited for the year ended

30 September 2014 which comprise the Profit and Loss Account, the Balance Sheet and the

related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales

(ICAEW), we are subject to its ethical and other professional requirements which are detailed at

icaew.com/membershandbook.

This report is made solely to the Board of Directors of Transwave Limited, as a body, in

accordance with our terms of engagement. Our work has been undertaken solely to prepare for

your approval the financial statements of Transwave Limited and state those matters that we have

agreed to state to the Board of Directors of Transwave Limited, as a body, in this report in

accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by

law, we do not accept or assume responsibility to anyone other than the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Transwave Limited has kept adequate accounting records and to

prepare statutory financial statements that give a true and fair view of the assets, liabilities,

financial position and profit of Transwave Limited. You consider that Transwave Limited is exempt

from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of

Transwave Limited. For this reason, we have not verified the accuracy or completeness of the

accounting records or information and explanations you have given to us and we do not, therefore,

express any opinion on the statutory financial statements.

BPU Limited

Chartered Accountants

5 March 2015

FIXED ASSETS

Tangible assets

2

85,295

68,727

CURRENT ASSETS

Debtors

321,750

339,502

Cash at bank

60,418

60,376

382,168

399,878

CREDITORS

Amounts falling due within one year

186,155

247,649

NET CURRENT ASSETS

196,013

152,229

TOTAL ASSETS LESS CURRENT LIABILITIES

281,308

220,956

CREDITORS

Amounts falling due after more than one year

(192,410

)

(143,846

)

PROVISIONS FOR LIABILITIES

(17,000

)

(14,000

)

NET ASSETS

71,898

63,110

CAPITAL AND RESERVES

Called up share capital

3

3,000

3,000

Profit and loss account

68,898

60,110

SHAREHOLDERS' FUNDS

71,898

63,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 February 2015 and were signed on its behalf by:

D Penny - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales in relation to the provision of haulage services, net of

value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% reducing balance

Motor vehicles

-

15% reducing balance

Deferred tax

Full provision is made for deferred taxation resulting from material timing differences

between the recognition of gains and losses in the accounts and their recognition for tax

purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which

are expected to apply in the periods when the timing differences will reverse.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

115,635

Additions

46,900

Disposals

(22,725

)

At 30 September 2014

139,810

DEPRECIATION

At 1 October 2013

46,908

Charge for year

11,283

Eliminated on disposal

(3,676

)

At 30 September 2014

54,515

NET BOOK VALUE

At 30 September 2014

85,295

At 30 September 2013

68,727

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

3,000

Ordinary

£1

3,000

3,000