A transmission system having an input shaft for receiving/imparting rotation into the transmission system and an output shaft for delivering rotation from the transmission system, a flywheel component which has a ring gear portion and planet gear portion, wherein rotation of the input shaft causes rotation of the flywheel component, a first transmission shaft and a first transmission component, wherein rotation and/or orbital motion of the flywheel component is affected by the rotation or non-rotation of the first transmission shaft and by the rotation or non-rotation of the first transmission component, a second transmission shaft, wherein the first transmission component rotates if the second transmission shaft rotates, a second transmission component which rotates if the second transmission shaft rotates, wherein rotation or non-rotation of the second transmission component and rotation or non-rotation of the first transmission shaft affect the overall/net output shaft rotation, at least one modulator shaft the rotation or non-rotation of which is linked with the rotation or non-rotation of one of the transmission shafts, wherein a continuously variable accelerating or retarding torque can be applied to the modulator to accelerate or retard the rotation of the transmission shaft with which the modulator is linked, whereby this continuously variable acceleration or retarding of the rotation of the transmission shaft enables continuous variation of the speed and/or direction of the output rotation relative to the input rotation.