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Financial Statements for the Year Ended 29 May 2019 |
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Transition Sheffield Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 29 May 2019 |
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for |
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Transition Sheffield Limited |
Transition Sheffield Limited (Registered number: 05961492) |
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Contents of the Financial Statements |
for the Year Ended 29 May 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Transition Sheffield Limited |
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Company Information |
for the Year Ended 29 May 2019 |
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DIRECTOR: |
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SECRETARIES: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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2 Rutland Park |
Sheffield |
S10 2PD |
Transition Sheffield Limited (Registered number: 05961492) |
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Balance Sheet |
29 May 2019 |
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29.5.19 | 29.5.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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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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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved and authorised for issue by the director on
by: |
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Transition Sheffield Limited (Registered number: 05961492) |
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Notes to the Financial Statements |
for the Year Ended 29 May 2019 |
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1. | STATUTORY INFORMATION |
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Transition Sheffield Limited is a private company, limited by shares, registered and incorporated in England and |
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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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 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. |
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These financial statements are prepared in sterling, which is the functional currency of the company. |
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These financial statements have been prepared under the historical cost convention. |
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Changes in accounting policies |
The company is not to depreciate Freehold Land and instead will carry out an impairment review every three |
years and any diminution in value to be adjusted accordingly. |
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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 taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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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. |
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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 balance sheet date. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Transition Sheffield Limited (Registered number: 05961492) |
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Notes to the Financial Statements - continued |
for the Year Ended 29 May 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 30 May 2018 |
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Additions |
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At 29 May 2019 |
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DEPRECIATION |
At 30 May 2018 |
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Charge for year |
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At 29 May 2019 |
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NET BOOK VALUE |
At 29 May 2019 |
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At 29 May 2018 |
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Included above are assets held under finance leases of hire purchase contracts as follows: |
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Plant and
Machinery |
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NET BOOK VALUE |
At 29 May 2018 | 170,337 |
At 29 May 2019 | nil |
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DEPRECIATION |
At 29 May 2018 | 20,008 |
At 29 May 2019 | nil |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.5.19 | 29.5.18 |
£ | £ |
Amounts owed by participating interests | 29,787 | 29,787 |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.5.19 | 29.5.18 |
£ | £ |
Trade creditors |
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Amounts owed to participating interests | 1,536,623 | 1,834,091 |
Taxation and social security |
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Other creditors |
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Transition Sheffield Limited (Registered number: 05961492) |
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Notes to the Financial Statements - continued |
for the Year Ended 29 May 2019 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
29.5.19 | 29.5.18 |
£ | £ |
Bank loans |
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Creditors include an amount of £502,407 which is secured on the freehold property of the company, of which |
£32,344 is included in creditors due within one year. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.5.19 | 29.5.18 |
value: | £ | £ |
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Ordinary | 1 | 500 | 500 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 30 May 2018 |
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Profit for the year |
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At 29 May 2019 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | CONTINGENT LIABILITIES |
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The company has given it bankers an unlimited intercompany guarantee in favour of the following related |
parties; Transition International Limited, Alloy Analysis Limited and Transition Metals Limited. |
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12. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Fondel Alloys Limited |
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D J Ingall is a director of Fondel Alloys Limited. During the year the company made sales to Fondel Alloys Ltd |
totalling £nil (2018: £148,937). At the year end £29,787 (2018: £29,787) was due from Fondel Alloys Limited. |
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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Transition Participations Limited, a company incorporated in England and |
Wales. |