Transaction Translators Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03741242 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Transaction Translators Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr B D Collis

REGISTERED OFFICE:

10 Fentonville Street

Sheffield

South Yorkshire

S11 8BB

REGISTERED NUMBER:

03741242 (England and Wales)

ACCOUNTANTS:

Hawson Jefferies

Suite 4

164-170 Queens Road

Sheffield

South Yorkshire

S2 4DH

FIXED ASSETS

Tangible assets

4

3,893

4,237

CURRENT ASSETS

Stocks

18,377

11,507

Debtors

5

7,576

30,254

Cash at bank and in hand

19,141

10,744

45,094

52,505

CREDITORS

Amounts falling due within one year

6

11,488

16,030

NET CURRENT ASSETS

33,606

36,475

TOTAL ASSETS LESS CURRENT LIABILITIES

37,499

40,712

PROVISIONS FOR LIABILITIES

7

740

805

NET ASSETS

36,759

39,907

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

36,757

39,905

SHAREHOLDERS' FUNDS

36,759

39,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 September 2020 and were signed by:

Mr B D Collis - Director

1.	STATUTORY INFORMATION

Transaction Translators Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Office equipment & fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

Computer

& fittings

equipment

Totals

£

£

£

COST

At 1 April 2019

21,043

26,075

47,118

Additions

366

350

716

At 31 March 2020

21,409

26,425

47,834

DEPRECIATION

At 1 April 2019

18,218

24,663

42,881

Charge for year

480

580

1,060

At 31 March 2020

18,698

25,243

43,941

NET BOOK VALUE

At 31 March 2020

2,711

1,182

3,893

At 31 March 2019

2,825

1,412

4,237

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

7,282

12,629

Other debtors

-

923

Directors' current accounts

-

16,326

Prepayments

294

376

7,576

30,254

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

104

30

Trade creditors

4,847

5,449

Tax

2,610

1,420

Social security and other taxes

115

205

VAT

1,380

4,021

Directors' current accounts

857

-

Accrued expenses

1,575

4,905

11,488

16,030

7.	PROVISIONS FOR LIABILITIES

31.3.20

31.3.19

£

£

Deferred tax

740

805

Deferred

tax

£

Balance at 1 April 2019

805

Credit to Income Statement during year

(65

)

Balance at 31 March 2020

740