Transwave Limited - Accounts to registrar - small 16.3d

Transwave Limited - Accounts to registrar - small 16.3d

TRANSWAVE LIMITED - Company Information

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Transwave Limited

Financial Statements for the Year Ended 30 September 2016













Transwave Limited

Company Information
for the Year Ended 30 September 2016







DIRECTORS: D Penny
S M Penny
J G Meredith





SECRETARY: D Penny





REGISTERED OFFICE: Unit G
Cwmdraw Industrial Estate
Newtown
Ebbw Vale
NP23 5AE





REGISTERED NUMBER: 02167569 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Transwave Limited


The following reproduces the text of the report prepared for the directors and members in
respect of the company's annual unaudited financial statements. In accordance with the
Companies Act 2006, the company is only required to file a Balance Sheet. Readers are
cautioned that the Income Statement and certain other primary statements and the Report
of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for
your approval the financial statements of Transwave Limited for the year ended
30 September 2016 which comprise the Profit & Loss Account, 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 firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Transwave Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Transwave Limited and state those matters that we have agreed to state to the Board of Directors of Transwave Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Transwave Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Transwave Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Transwave Limited. You consider that Transwave 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 financial statements of Transwave 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 statutory financial statements.






BPU Limited
Chartered Accountants


5 April 2017

This page does not form part of the statutory financial statements

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Transwave Limited (Registered number: 02167569)

Balance Sheet
30 September 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 693 85,148

CURRENT ASSETS
Debtors 4 213,844 357,312
Cash at bank 696 13,958
214,540 371,270
CREDITORS
Amounts falling due within one year 5 210,165 363,205
NET CURRENT ASSETS 4,375 8,065
TOTAL ASSETS LESS CURRENT
LIABILITIES
5,068
93,213

PROVISIONS FOR LIABILITIES - 15,000
NET ASSETS 5,068 78,213

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 2,068 75,213
SHAREHOLDERS' FUNDS 5,068 78,213

The notes form part of these financial statements

3
Transwave Limited (Registered number: 02167569)

Balance Sheet - continued
30 September 2016


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 5 April 2017 and were signed
on its behalf by:





D Penny - Director


The notes form part of these financial statements

4
Transwave Limited (Registered number: 02167569)

Notes to the Financial Statements
for the Year Ended 30 September 2016


1. 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 represents net invoiced sales in relation to the provision of haulage services, net of
value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance
Motor vehicles - 15% reducing balance

Deferred tax
Full provision is made for deferred taxation resulting from material timing differences
between the recognition of gains and losses in the accounts and their recognition for tax
purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which
are expected to apply in the periods when the timing differences will reverse.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 .

5
Transwave Limited (Registered number: 02167569)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2016


3. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2015 44,523 96,753 141,276
Additions 136 - 136
Disposals (41,212 ) (96,753 ) (137,965 )
At 30 September 2016 3,447 - 3,447
DEPRECIATION
At 1 October 2015 31,608 24,520 56,128
Charge for year 106 - 106
Eliminated on disposal (28,960 ) (24,520 ) (53,480 )
At 30 September 2016 2,754 - 2,754
NET BOOK VALUE
At 30 September 2016 693 - 693
At 30 September 2015 12,915 72,233 85,148

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 190,202 268,517
Prepayments & accrued income 23,642 19,686
Due from related undertakings - 69,109
213,844 357,312

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 20,583 23,344
Social security & other taxes 23,743 32,208
Other creditors & accruals 26,856 37,078
Invoice discounting facility 137,168 155,334
No description 1,815 -
Directors' loan accounts - 115,241
210,165 363,205

6
Transwave Limited (Registered number: 02167569)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2016


6. SECURED DEBTS

The following secured debts are included within creditors:

2016 2015
£    £   
Invoice discounting facility 137,168 155,334

7