Transition Participations Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02941722 (England and Wales)

Financial Statements for the Year Ended 31 May 2017

for

Transition Participations Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

6

DIRECTOR:

D J Ingall

SECRETARIES:

A Hussain

A L Mansell

REGISTERED OFFICE:

Hi-Temp Works

480 Penistone Road

Sheffield

S6 2FU

REGISTERED NUMBER:

02941722 (England and Wales)

ACCOUNTANTS:

A H Accountancy Services

61a Blagden Street

Sheffield

South Yorkshire

S2 5QS

CURRENT ASSETS

Debtors

4

238,801

190,408

Cash at bank

92

71

238,893

190,479

CREDITORS

Amounts falling due within one year

5

532,628

221,797

NET CURRENT LIABILITIES

(293,735

)

(31,318

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(293,735

)

(31,318

)

CAPITAL AND RESERVES

Called up share capital

6

1,000

1,000

Retained earnings

7

(294,735

)

(32,318

)

SHAREHOLDERS' FUNDS

(293,735

)

(31,318

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 25 May 2018 and were signed by:

D J Ingall - Director

1.	STATUTORY INFORMATION

Transition Participations Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' and the requirements of

the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure

requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to

show a true and fair view.

These financial statements are prepared in sterling, which is the functional currency of the company.

These financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 May 2017 are the first financial statements of Transition

Participations Limited prepared in accordance with FRS 102. The date of transition to FRS 102 was 1 April

2016. The reported financial position and financial performance for the previous period are not affected by the

transition to FRS 102.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the year 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Amounts owed by participating interests

238,801

171,292

Other debtors

-

19,116

238,801

190,408

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Amounts owed to participating interests

137,287

115,029

Taxation and social security

23,701

26,715

Other creditors

371,640

80,053

532,628

221,797

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

1,000

Ordinary

1

1,000

1,000

7.

RESERVES

Retained

earnings

£

At 1 June 2016

(32,318

)

Deficit for the year

(190,417

)

Dividends

(72,000

)

At 31 May 2017

(294,735

)

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2017 and

31 May 2016:

31.5.17

31.5.16

£

£

D J Ingall

Balance outstanding at start of year

19,116

21,191

Amounts advanced

10,334

17,965

Amounts repaid

(29,489

)

(20,040

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(39

)

19,116

9.	RELATED PARTY DISCLOSURES

D J Ingall

D J Ingall is a shareholder and director of Transition Participations Limited. During the year the company paid

dividends totalling £36,720 to D J Ingall.

M Ingall

M Ingall is a shareholder of Transition Participations Limited and the spouse of D J Ingall. During the year the

company paid dividends totalling £35,280 to M Ingall.

Transition International Limited

Transition Participations Limited has a 50% shareholding in Transition International Limited. During the year

the company made management charges of £60,456 (2016: £60,456) to Transition International Limited. At the

year end amounts totalling £137,287 (2016: £115,029) were due to Transition International Limited

Transition Metals Limited

Transition Participations Limited has a 50% shareholding in Transition Metals Limited. During the year the

company made management charges of £35,266 (2016: £60,456) to Transition Metals Limited. At the year end

amounts totalling £133,003 (2016: £90,684) were due from Transition Metals Limited

10.	POST BALANCE SHEET EVENTS

On 16 February 2018 Transition Participations Limited purchased shares from Fondel Commodities B.V.,

Transition Participations Limited became:

100% shareholder of Transition International Limited

100% shareholder of Transition Sheffield Limited

100% shareholder of Transition Metals Limited

100% shareholder of Alloy Analysis Limited

67% shareholder of Fluid Maintenance Solutions Limited

11.	ULTIMATE CONTROLLING PARTY

D J Ingall is the ultimate controlling party at the year end. D J Ingall holds 51% of the issued share capital and M

Ingall holds 49%.

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2017 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

A H Accountancy Services

61a Blagden Street

Sheffield

South Yorkshire

S2 5QS

25 May 2018