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Financial Statements for the Year Ended 31 May 2017 |
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Transition Participations Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 May 2017 |
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for |
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Transition Participations Limited |
Transition Participations Limited (Registered number: 02941722) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2017 |
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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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Report of the Accountants | 6 |
Transition Participations Limited |
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Company Information |
for the Year Ended 31 May 2017 |
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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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ACCOUNTANTS: |
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61a Blagden Street |
Sheffield |
South Yorkshire |
S2 5QS |
Transition Participations Limited (Registered number: 02941722) |
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Balance Sheet |
31 May 2017 |
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31.5.17 | 31.5.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | 7 | ( |
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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. |
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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 by the director on
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Transition Participations Limited (Registered number: 02941722) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2017 |
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1. | STATUTORY INFORMATION |
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Transition Participations Limited is a
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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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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. |
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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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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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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. |
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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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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 |
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Transition Participations Limited (Registered number: 02941722) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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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 |
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Other creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.17 | 31.5.16 |
value: | £ | £ |
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Ordinary | 1 | 1,000 | 1,000 |
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7. | RESERVES |
Retained |
earnings |
£ |
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At 1 June 2016 | ( |
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Deficit for the year | ( |
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Dividends | ( |
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At 31 May 2017 | ( |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 May 2017 and |
31 May 2016: |
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31.5.17 | 31.5.16 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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9. | RELATED PARTY DISCLOSURES |
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D J Ingall |
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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. |
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M Ingall |
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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 Participations Limited (Registered number: 02941722) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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9. | RELATED PARTY DISCLOSURES - continued |
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Transition International Limited |
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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 |
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Transition Metals Limited |
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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 |
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10. | POST BALANCE SHEET EVENTS |
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On 16 February 2018 Transition Participations Limited purchased shares from Fondel Commodities B.V., |
Transition Participations Limited became: |
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100% shareholder of Transition International Limited |
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100% shareholder of Transition Sheffield Limited |
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100% shareholder of Transition Metals Limited |
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100% shareholder of Alloy Analysis Limited |
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67% shareholder of Fluid Maintenance Solutions Limited |
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11. | ULTIMATE CONTROLLING PARTY |
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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%. |
Transition Participations Limited |
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Report of the Accountants to the Director of |
Transition Participations 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 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. |
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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. |
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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. |
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61a Blagden Street |
Sheffield |
South Yorkshire |
S2 5QS |
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