Transatlantic Thoroughbred Services Limited
Transatlantic Thoroughbred Services Limited
Registered number: 13589665
Unaudited Financial Statements
For The Year Ended 31 August 2023
Andrew Lillingston Limited
13 Hurlingham Studios
Ranelagh Gardens
London
SW6 3PA
Transatlantic Thoroughbred Services Limited
Contents
Contents
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
Transatlantic Thoroughbred Services Limited
Balance Sheet
As At
31 August 2023
Balance Sheet
Registered number:
13589665
For the year ending 31 August 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
( |
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
|
|||
| NET (LIABILITIES)/ASSETS |
( |
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
|
|
||
| Profit and Loss Account |
( |
|
|||
| SHAREHOLDERS' FUNDS | (4,500) | 339 | |||
On behalf of the board
|
Director
|
Director
|
|
|
The notes on pages 2 to 3 form part of these financial statements.
Transatlantic Thoroughbred Services Limited
Notes to the Financial Statements
For The Year Ended 31 August 2023
Notes to the Financial Statements
1.
General Information
Transatlantic Thoroughbred Services Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
13589665
. The registered office is 23b The Avenue, London, W4 1HA.
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 company's balance sheet reports negative reserves of £4,500 at the end of the reporting period. 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 to trade and therefore the going concern basis remains appropriate.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
4.
Debtors
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors |
|
|
|
| Corporation tax recoverable assets |
|
|
|
| Directors' loan accounts |
|
|
|
|
|
|
||
5.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Corporation tax | - |
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
Transatlantic Thoroughbred Services Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2023
7.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 September 2022 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 August 2023 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Mohammed Khan |
|
|
|
- |
|
| Mr Harry Wigan |
|
|
|
- |
|
The above loans are unsecured, interest is charged at 2% on balances over £10,000 and they are repayable on demand.