TRAKTION TECHNOLOGIES LTD


2020-05-012021-04-302021-04-30false12137927TRAKTION TECHNOLOGIES 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TRAKTION TECHNOLOGIES LTD

Registered Number
12137927
(England and Wales)

Unaudited Financial Statements for the Year Ended
30 April 2021

TRAKTION TECHNOLOGIES LTD
Company Information
for the year from 1 May 2020 to 30 April 2021

Directors

SHODHAN, Saher Saurin

Registered Address

10 Mount Carmel Chambers
Dukes Lane
London
W8 4JW

Registered Number

12137927 (England and Wales)
TRAKTION TECHNOLOGIES LTD
Balance Sheet as at
30 April 2021

Notes

2021

2020

£

£

£

£

Current assets
Debtors62,9295,529
Cash at bank and on hand234,71817,786
297,64723,315
Creditors amounts falling due within one year(45,864)(1,086)
Net current assets (liabilities)251,78322,229
Total assets less current liabilities251,78322,229
Creditors amounts falling due after one year(17,500)-
Net assets234,28322,229
Capital and reserves
Called up share capital138113
Share premium489,963119,988
Profit and loss account(255,818)(97,872)
Shareholders' funds234,28322,229
  • The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
  • The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved and authorised for issue by the Board of Directors on 14 September 2021, and are signed on its behalf by:
SHODHAN, Saher Saurin
Director
Registered Company No. 12137927
TRAKTION TECHNOLOGIES LTD
Notes to the Financial Statements
for the year ended 30 April 2021

1.STATUTORY INFORMATION
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.ACCOUNTING POLICIES
Revenue recognition policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.EMPLOYEE INFORMATION




2021



2020

Average number of employees during the year53