UKTram Limited
UKTram Limited
Registered number: 05554196
Directors' Report and
Unaudited Financial Statements
For The Year Ended
31 March 2023
UKTram Limited
Directors' Report and Unaudited Financial Statements
For The Year Ended
31 March 2023
Directors' Report and Unaudited Financial Statements
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| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6—8 |
UKTram Limited
Company Information
For The Year Ended
31 March 2023
Company Information
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| Company Number |
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| Registered Office | 16 Summer Lane |
| Birmingham | |
| B19 3SD | |
| Accountants |
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| 9 Mill Street | |
| Sutton Coldfield | |
| B72 1TJ | |
UKTram Limited
Company No. 05554196
Directors' Report For The Year Ended
31 March 2023
Directors' Report
The directors present their report and the financial statements for the year ended
31 March 2023
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Directors
The directors who held office during the year were as follows:
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Appointed |
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Resigned |
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Resigned |
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Appointed |
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Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Director
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UKTram Limited
Accountant's Report
For The Year Ended
31 March 2023
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of
UKTram Limited
for the year ended 31 March 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of
UKTram Limited
which comprise the Income and Expenditure 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 of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of
UKTram Limited
, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of
UKTram Limited
and state those matters that we have agreed to state to the directors of
UKTram Limited
, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
UKTram Limited
and its directors as a body for our work or for this report.
It is your duty to ensure that
UKTram Limited
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
UKTram Limited
. You consider that
UKTram 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 accounts of
UKTram 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 financial statements.
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Masonic Building
9 Mill Street
Sutton Coldfield
B72 1TJ
UKTram Limited
Income and Expenditure Account
For The Year Ended
31 March 2023
Income and Expenditure Account
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| Notes | £ | £ | ||
| TURNOVER |
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| Cost of sales |
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| GROSS SURPLUS |
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| Administrative expenses |
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| OPERATING SURPLUS |
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| Deficit on disposal of fixed assets |
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| Other interest receivable and similar income |
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| SURPLUS BEFORE TAXATION |
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| Tax on Surplus |
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| SURPLUS AFTER TAXATION BEING SURPLUS FOR THE FINANCIAL YEAR |
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The notes on pages 6 to 8 form part of these financial statements.
UKTram Limited
Balance Sheet
As At
31 March 2023
Balance Sheet
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| Income and Expenditure Account |
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| MEMBERS' FUNDS | 306,722 | 208,251 | |||
On behalf of the board
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Director
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The notes on pages 6 to 8 form part of these financial statements.
UKTram Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
UKTram Limited
is a private company, limited by guarantee, incorporated in England & Wales, registered number
05554196
. The registered office is 16 Summer Lane, Birmingham, B19 3SD.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises membership subscriptions and grant funding, both of which are received on an annual basis. UKTram Limited transfers a proportion of its revenue to Light Rail SSB Limited, a company limited by guarantee, for which UKTram Limited is the sole guarantor. Only the revenue retained by UKTram Limited is recognised within these accounts.
2.4.
Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
The estimated useful lives range as follows:
Development expenditure - 3 years
2.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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| Fixtures & Fittings |
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| Computer Equipment |
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2.6.
Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 7)
UKTram Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
4.
Intangible Assets
| Other | Development Costs | Total | |
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| Cost | |||
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| Disposals |
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5.
Tangible Assets
| Land & Property | |||
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| Leasehold | Fixtures & Fittings | Total | |
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| Disposals |
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| Depreciation | |||
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Debtors
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| Trade debtors |
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| Other debtors |
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| Corporation tax recoverable assets |
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| VAT |
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UKTram Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
7.
Creditors: Amounts Falling Due Within One Year
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| Trade creditors |
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| Corporation tax |
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| Other creditors |
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| Accruals and deferred income |
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| Amounts owed to group undertakings |
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8.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9.
Fixed asset investments
The company is the guarantor of the Light Rail SSB Limited, a company limited by guarantee. The addresss of the registered office is 16 Summer Lane, Birmingham, B19 3SD.