Traffic Technology Ltd - Accounts to registrar (filleted) - small 22.3
Traffic Technology Ltd - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| For The Period 1 February 2021 to 31 March 2022 |
| for |
| TRAFFIC TECHNOLOGY LTD |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Contents of the Financial Statements |
| For The Period 1 February 2021 to 31 March 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TRAFFIC TECHNOLOGY LTD |
| Company Information |
| For The Period 1 February 2021 to 31 March 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1 Rushmills |
| Bedford Road |
| Northampton |
| Northamptonshire |
| NN4 7YB |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Balance Sheet |
| 31 March 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Balance Sheet - continued |
| 31 March 2022 |
| 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 |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Notes to the Financial Statements |
| For The Period 1 February 2021 to 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| Traffic Technology Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| Taxation |
| Taxation for the period 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. |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Notes to the Financial Statements - continued |
| For The Period 1 February 2021 to 31 March 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Government grants |
| Government grants relating to Coronavirus are recognised in income in the period in which it becomes receivable under the performance model. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Notes to the Financial Statements - continued |
| For The Period 1 February 2021 to 31 March 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 February 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 February 2021 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 January 2021 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2021 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 February 2021 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 January 2021 |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Notes to the Financial Statements - continued |
| For The Period 1 February 2021 to 31 March 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 February 2021 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 February 2021 |
| Charge for period |
| Eliminated on disposal | ( |
) |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 January 2021 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 February 2021 |
| and 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 January 2021 |
| Fair value at 31 March 2022 is represented by: |
| £ |
| Valuation in 2017 | 98,027 |
| Valuation in 2019 | 8,000 |
| Valuation in 2021 | 30,000 |
| Cost | 203,973 |
| 340,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 203,973 | 203,973 |
| The investment property was valued on an open market basis on 31 January 2020 by the director . |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Notes to the Financial Statements - continued |
| For The Period 1 February 2021 to 31 March 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| Other creditors is a mortgage secured on the investment property. |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Mortgage | 92,138 | 92,133 |
| All monies due or to become due from the company to the charge under the terms of the aforementioned instrument creating or evidencing the charge F/H 17 Whitehead Way, Buckingham including all buildings, fixtures and fittings, the related rights and the goodwill together with floating charge over all present and future assets of the company. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| TRAFFIC TECHNOLOGY LTD (REGISTERED NUMBER: 05257272) |
| Notes to the Financial Statements - continued |
| For The Period 1 February 2021 to 31 March 2022 |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 February 2021 |
| and 31 March 2022 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of the R Toomey who owns 100% of the share capital. |