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Unaudited Financial Statements |
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for the Year Ended 30 April 2021 |
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for |
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TransFlor Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2021 |
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for |
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TransFlor Limited |
TransFlor Limited (Registered number: 06503327) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2021 |
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Page |
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Company information | 1 |
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Chartered accountants' report | 2 |
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Statement of financial position | 3 | to | 4 |
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Notes to the financial statements | 5 | to | 8 |
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TransFlor Limited |
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Company Information |
for the Year Ended 30 April 2021 |
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Director: |
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Registered office: |
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Registered number: |
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Accountants: |
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Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
TransFlor Limited |
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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 Statement of financial position. 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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TransFlor Limited for the year ended 30 April 2021 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. |
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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. |
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This report is made solely to the director of TransFlor Limited in accordance with the terms of our engagement letter dated 23 October 2018. Our work has been undertaken solely to prepare for your approval the financial statements of TransFlor Limited and state those matters that we have agreed to state to the director of TransFlor Limited 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 TransFlor Limited and its director for our work or for this report. |
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It is your duty to ensure that TransFlor 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 profit of TransFlor Limited. You consider that TransFlor Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of TransFlor 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. |
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Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
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TransFlor Limited (Registered number: 06503327) |
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Statement of Financial Position |
30 April 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
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Current assets |
Stocks |
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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 |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
8 |
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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves |
Called up share capital | 9 |
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Other reserves | ( |
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Retained earnings |
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Shareholders' funds |
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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. |
TransFlor Limited (Registered number: 06503327) |
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Statement of Financial Position - continued |
30 April 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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TransFlor Limited (Registered number: 06503327) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2021 |
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1. | Statutory information |
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TransFlor Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Statement of compliance |
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3. | Accounting policies |
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Basis of preparing the financial statements |
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Equipment | - |
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Government grants |
Government grants are recongised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model. |
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Stocks |
Stocks are measured at the lower cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
TransFlor Limited (Registered number: 06503327) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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3. | Accounting policies - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. |
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Pension costs and other post-retirement benefits |
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepared contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. |
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When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises. |
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Impairment of fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
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Debtors and creditors receivable/ payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recongised in the profit and loss account in other administrative expenses. |
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Derivatives |
Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss. |
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The methods and significant assumptions used to ascertain the fair value of £3,129 and fair value movement of £2,289 included in the profit for the year are only a usual interest rage of 5%. |
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4. | Employees and directors |
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The average number of employees during the year was
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TransFlor Limited (Registered number: 06503327) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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5. | Tangible fixed assets |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 May 2020 |
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Additions |
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Disposals |
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At 30 April 2021 |
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Depreciation |
At 1 May 2020 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2021 |
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Net book value |
At 30 April 2021 |
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At 30 April 2020 |
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6. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtor |
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Corporation tax repayable |
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Prepayments and accrued income |
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7. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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VAT |
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Pension creditor |
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Other creditor |
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Directors' current accounts |
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Accruals and deferred income |
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Loans are secured on company assets via a fixed and floating charge. Also included in bank loans £18,081 is relating to a Coronavirus Business Interruption loan. Repayment and interest is payable after 12 months of loan drawn down. |
TransFlor Limited (Registered number: 06503327) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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8. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
Bank loans |
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Loans are secured on company assets via a fixed and floating charge. Also included in bank loans £85,962 is relating to a Cononavirus Business Interruption loan and is payable over 6 years. Included in this amount £1,680 is payable after 5 years. Repayment and interest is payable after 12 months of loan drawn down. |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary share | £1 | 1 | 1 |