REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 NOVEMBER 2018 TO 30 NOVEMBER 2019 |
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ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 NOVEMBER 2018 TO 30 NOVEMBER 2019 |
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FOR |
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ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD |
ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD (REGISTERED NUMBER: SC519339) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2018 TO 30 NOVEMBER 2019 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD (REGISTERED NUMBER: SC519339) |
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BALANCE SHEET |
30 NOVEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD (REGISTERED NUMBER: SC519339) |
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BALANCE SHEET - continued |
30 NOVEMBER 2019 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account 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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ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD (REGISTERED NUMBER: SC519339) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2018 TO 30 NOVEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Active Traffic Management Solutions Ltd is a private company, limited by shares, registered in Scotland. The |
company's registered office address is Unit 9, Heatheryknowe Road, Baillieston, Glasgow, G69 6TZ. |
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The presentation currency of the financial statements is Sterling (£). |
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2. | ACCOUNTING POLICIES |
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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. There were no material departures from that standard. The financial statements have |
been prepared under the historical cost convention. |
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Judgements |
The company considers on an annual basis the judgements that are made by management when applying its |
significant accounting policies that would have the most significant effect on amounts that are recognised in the |
financial statement. |
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The director considers there to be no such significant judgements. |
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Provisions |
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of |
a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation |
can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the |
obligation at the reporting date. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Tangible fixed assets are included at cost less accumulated depreciation and impairment. |
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Impairment of tangible fixed assets |
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, |
are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of |
possible impairment, the recoverable amount which is the higher of value in use and fair value less cost to sell, is |
estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the |
asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss. |
ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD (REGISTERED NUMBER: SC519339) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2018 TO 30 NOVEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets |
and liabilities like trade and other accounts receivable and payable, loans from banks and investments in |
non-puttable ordinary shares. |
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Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the |
future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are |
payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and |
subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. |
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Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of |
impairment and if found, an impairment loss is recognised in profit or loss. |
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Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is |
discharged, cancelled or expires. |
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Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid |
investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, |
are shown within borrowings in current liabilities. |
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Taxation |
Taxation represents the sum of tax currently payable and deferred tax. 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. |
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The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of |
certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing |
differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are |
recognised only to the extent that the director considers that it is more likely than not that there will be suitable |
taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred |
taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the |
timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
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With the exception of changes arising on the initial recognition of a business combination, the tax expense is |
presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the |
transaction that resulted in the tax expense. |
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Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under |
hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are |
depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of |
the future payments is treated as a liability. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD (REGISTERED NUMBER: SC519339) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2018 TO 30 NOVEMBER 2019 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 November 2018 |
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Additions |
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At 30 November 2019 |
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DEPRECIATION |
At 1 November 2018 |
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Charge for period |
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At 30 November 2019 |
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NET BOOK VALUE |
At 30 November 2019 |
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At 31 October 2018 |
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Assets held under hire purchase contracts have a net book value of £24,048 (2018 £9,754). |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 8) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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ACTIVE TRAFFIC MANAGEMENT SOLUTIONS LTD (REGISTERED NUMBER: SC519339) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2018 TO 30 NOVEMBER 2019 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 8) |
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8. | LEASING AGREEMENTS |
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At the balance sheet date, the company had future operating lease commitments of £9,600 (2018: £Nil). |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Hire purchase contracts | 17,819 | 9,754 |
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Hire purchase liabilities are secured over the assets concerned. |
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10. | RELATED PARTY DISCLOSURES |
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At the balance sheet date, the amount owed to the director was £43,508 (2018: £60,670). This amount is interest |
free, unsecured and carries no fixed repayment terms. |