TRACE COMMUNICATIONS UK LIMITED

Company Registration Number:
06540151 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

TRACE COMMUNICATIONS UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2021

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8

TRACE COMMUNICATIONS UK LIMITED

Company Information

for the Period Ended 31 December 2021




Director: Adrienne Conlon
Peter Hyland
Secretary: Adrienne Conlon
Registered office: 15
Swan Drive
Staverton
Trowbridge
Wiltshire
BA14 8UN
Company Registration Number: 06540151 (England and Wales)

TRACE COMMUNICATIONS UK LIMITED

Directors' Report Period Ended 31 December 2021

The directors present their report with the financial statements of the company for the period ended 31 December 2021

Principal Activities

The principal activity of the company is the Installation of Computer Systems and provision of ancilliary services.

Political and charitable donations

The company did not make any disclosable political donations in the current or prior year.

Additional information

Statement of directors' Responsibilities and Declaration on Unaudited Financial Statements General responsibilities The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: -select suitable accounting policies and apply them consistently; -make judgements and accounting estimates that are reasonable and prudent; -prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Directors' declaration on unaudited financial statements In relation to the financial statements comprising the Profit and Loss Account, the Balance Sheet, the Reconciliation of Shareholders' Funds and notes: The directors approve these financial statements and confirm that they are responsible for them, including selecting the appropriate accounting policies, applying them consistently and making, on a reasonable and prudent basis, the judgements underlying them. They have been prepared on the going concern basis on the grounds that the company will continue in business. The directors confirm that they have made available to David M Breen & Co. Ltd, (Chartered Accountants), all the company's accounting records and provided all the information, books and documents necessary for the compilation of the financial statements. Post Balance Sheet Events The UK government announced all trading restrictions that were placed on businesses over the period of the pandemic were no longer in effect and that normal pre-pandemic trading could resume. The directors are of the opinion that the company can return to full trading capacity as a result. There have been no significant events affecting the company since the financial year end. Future Developments The directors are not expecting to make any significant changes in the nature of the business in the near future. Special Provisions relating to small companies The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006

Directors

The directors shown below have held office during the whole of the period from 01 January 2021 to 31 December 2021
Adrienne Conlon
Peter Hyland

Secretary
Adrienne Conlon

This report was approved by the board of directors on 11 April 2022
And Signed On Behalf Of The Board By:

Name: Adrienne Conlon
Status: Director

Name: Peter Hyland
Status: Director

TRACE COMMUNICATIONS UK LIMITED

Profit and Loss Account

for the Period Ended 31 December 2021


Notes

2021
£

2020
£
Gross Profit or (Loss) 22,480 18,403
Distribution Costs ( 3,532 ) ( 3,880 )
Administrative Expenses ( 10,895 ) ( 9,091 )
Operating Profit or (Loss) 8,053 5,432
Profit or (Loss) Before Tax 8,053 5,432
Tax on Profit ( 1,530 ) ( 1,108 )
Profit or (Loss) for Period 6,523 4,324

The notes form part of these financial statements

TRACE COMMUNICATIONS UK LIMITED

Balance sheet

As at 31 December 2021


Notes

2021
£

2020
£
Fixed assets
Total fixed assets: - -
Current assets
Debtors: 41,903 7,603
Cash at bank and in hand: 676,577 706,765
Total current assets: 718,480 714,368
Creditors: amounts falling due within one year: ( 18,760 ) ( 21,171 )
Net current assets (liabilities): 699,720 693,197
Total assets less current liabilities: 699,720 693,197
Total net assets (liabilities): 699,720 693,197

The notes form part of these financial statements

TRACE COMMUNICATIONS UK LIMITED

Balance sheet continued

As at 31 December 2021


Notes

2021
£

2020
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 699,620 693,097
Shareholders funds: 699,720 693,197

For the year ending 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 11 April 2022
And Signed On Behalf Of The Board By:

Name: Adrienne Conlon
Status: Director

Name: Peter Hyland
Status: Director

The notes form part of these financial statements

TRACE COMMUNICATIONS UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Turnover comprises the invoice value of goods and services supplied by the company, exclusive of value added tax.

    Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Turnover from the provision of services is recognised in the accounting period in which the services are rendered and the outcome of the contract can be estimated reliably.

TRACE COMMUNICATIONS UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 1. Accounting policies (continued)

    Other accounting policies

    Related Party Transactions The company discloses transactions with related parties which are not wholly owned with the same group. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors. Trade and other creditors Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. Employee Benefits The company provides a range of benefits to employees as follows: (i)Short Term Benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. Taxation and deferred taxation Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Foreign Currencies Functional and Presentation Currency The financial statements are presented in Great British Pounds, which is the company's functional and presentional currency and is denoted by the symbol '£'. Transactions and Balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non- monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non- monetary items measured at fair value are measured using the exchange rate when fair value was determined. Ordinary Share Capital Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from proceeds.

TRACE COMMUNICATIONS UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 2. Employees


    2021

    2020
    Average number of employees during the period 1 1

TRACE COMMUNICATIONS UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 3. Off balance sheet disclosure

    No

TRACE COMMUNICATIONS UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 4. Financial Commitments

    The company had no material capital commitments at the year ended 31 December 2021.

TRACE COMMUNICATIONS UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

5.1.Related party disclosures

Name of related party: Trace Communications Ireland Limited
Description of relationship:
Trace Communications (Ireland) Limited is classed as a connected party by virtue of having common directors and shareholders and being under common control.
Description of the transaction:
During the year, the company issued management fees of £40,586 (2020: £43,465) to Trace Communications (Ireland) Limited for services rendered during the year. At the balance sheet date, Trace Communications (Ireland) Limited owed £32,563 to Trace Communications UK Limited (2020: (£8,592)).
Balance at 01 January 2021 0
Balance at 31 December 2021 32,563

In the opinion of the directors these amounts arise in the ordinary course of business and the terms of the amounts due are in accordance with the terms ordinarily offered by the company.

TRACE COMMUNICATIONS UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 6. Post balance sheet events

    The UK government announced all trading restrictions that were placed on businesses over the period of the pandemic were no longer in effect and that normal pre-pandemic trading could resume. The directors are of the opinion that the company can return to full trading capacity as a result. There have been no significant events affecting the company since the financial year end.