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REGISTERED NUMBER: 06467773 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Tractive Power Limited

Tractive Power Limited (Registered number: 06467773)






Contents of the Financial Statements
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Tractive Power Limited

Company Information
for the year ended 31 January 2023







DIRECTORS: S A Greveson
B A Ratcliffe





SECRETARY: B A Ratcliffe





REGISTERED OFFICE: Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL





REGISTERED NUMBER: 06467773 (England and Wales)





ACCOUNTANTS: Bennett Brooks (Leek) Ltd
Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL

Tractive Power Limited (Registered number: 06467773)

Balance Sheet
31 January 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 135,099 151,379

CURRENT ASSETS
Stocks 50,000 30,000
Debtors 5 156,497 155,929
Cash at bank 36,045 17,424
242,542 203,353
CREDITORS
Amounts falling due within one year 6 (188,047 ) (166,558 )
NET CURRENT ASSETS 54,495 36,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,594

188,174

CREDITORS
Amounts falling due after more than one year 7 (82,824 ) (99,344 )

PROVISIONS FOR LIABILITIES (1,175 ) (3,900 )
NET ASSETS 105,595 84,930

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Retained earnings 90,595 69,930
105,595 84,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2023 and were signed on its behalf by:





B A Ratcliffe - Director


Tractive Power Limited (Registered number: 06467773)

Notes to the Financial Statements
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Tractive Power Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 5 ) .

Tractive Power Limited (Registered number: 06467773)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£ £ £
COST
At 1 February 2022 148,917 149,030 297,947
Additions - 458 458
At 31 January 2023 148,917 149,488 298,405
DEPRECIATION
At 1 February 2022 18,000 128,568 146,568
Charge for year 2,000 14,738 16,738
At 31 January 2023 20,000 143,306 163,306
NET BOOK VALUE
At 31 January 2023 128,917 6,182 135,099
At 31 January 2022 130,917 20,462 151,379

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 115,256 115,665
Other debtors 41,241 40,264
156,497 155,929

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 15,972 14,401
Trade creditors 64,855 67,080
Taxation and social security 101,842 75,917
Other creditors 5,378 9,160
188,047 166,558

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 82,824 99,344

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 30,609 99,344