Company registration number 03661262 (England and Wales)
NOTRACE SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
NOTRACE SERVICES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
NOTRACE SERVICES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. G Alexander
Mr. W Harris
Mr. J Sprack
Secretary
Mr. G Alexander
Company number
03661262
Registered office
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
NOTRACE SERVICES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
275,000
275,000
Investments
4
15,000
15,000
290,000
290,000
Current assets
Debtors
5
-
0
95,006
Cash at bank and in hand
413,045
678,864
413,045
773,870
Creditors: amounts falling due within one year
6
(75,140)
(586,185)
Net current assets
337,905
187,685
Total assets less current liabilities
627,905
477,685
Provisions for liabilities
(13,190)
(13,190)
Net assets
614,715
464,495
Capital and reserves
Called up share capital
7
15,000
15,000
Capital redemption reserve
3,750
3,750
Profit and loss reserves
595,965
445,745
Total equity
614,715
464,495
NOTRACE SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2023
30 April 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 17 November 2023 and are signed on its behalf by:
Mr. G Alexander
Director
Company Registration No. 03661262
The notes on pages 4 to 7 form part of these financial statements
NOTRACE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
1
Accounting policies
Company information

Notrace Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth, Hampshire, PO6 3TH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NOTRACE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
NOTRACE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
3
Investment property
2023
£
Fair value
At 1 May 2022 and 30 April 2023
275,000
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
15,000
15,000
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
0
95,006
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,877
1,655
Amounts owed to group undertakings
-
0
460,279
Taxation and social security
70,132
83,694
Other creditors
331
38,757
Accruals and deferred income
1,800
1,800
75,140
586,185
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary B shares of £1 each
3,750
3,750
3,750
3,750
Ordinary C shares of £1 each
3,750
3,750
3,750
3,750
Ordinary D shares of £1 each
3,750
3,750
3,750
3,750
Ordinary E shares of £1 each
3,750
3,750
3,750
3,750
15,000
15,000
15,000
15,000
NOTRACE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 7 -
8
Financial commitments, guarantees and contingent liabilities

Notrace Services Limited has provided a cross company guarantee against a bank loan of £500,000 taken out in its subsidiary company.

9
Related party transactions

The company has taken advantage of FRS 102 para 33.1A to not disclose transactions in relation to group companies.

2023-04-302022-05-01false20 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr. G AlexanderMr. W HarrisMr. J SprackMr. J SprackMr. G Alexanderfalse036612622022-05-012023-04-3003661262bus:CompanySecretaryDirector12022-05-012023-04-3003661262bus:Director22022-05-012023-04-3003661262bus:Director32022-05-012023-04-3003661262bus:Director12022-05-012023-04-3003661262bus:Director42022-05-012023-04-3003661262bus:CompanySecretary12022-05-012023-04-3003661262bus:RegisteredOffice2022-05-012023-04-30036612622023-04-30036612622022-04-3003661262core:CurrentFinancialInstruments2023-04-3003661262core:CurrentFinancialInstruments2022-04-3003661262core:ShareCapital2023-04-3003661262core:ShareCapital2022-04-3003661262core:CapitalRedemptionReserve2023-04-3003661262core:CapitalRedemptionReserve2022-04-3003661262core:RetainedEarningsAccumulatedLosses2023-04-3003661262core:RetainedEarningsAccumulatedLosses2022-04-3003661262core:ShareCapitalOrdinaryShares2023-04-3003661262core:ShareCapitalOrdinaryShares2022-04-30036612622021-05-012022-04-30036612622022-04-3003661262bus:PrivateLimitedCompanyLtd2022-05-012023-04-3003661262bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-3003661262bus:FRS1022022-05-012023-04-3003661262bus:AuditExemptWithAccountantsReport2022-05-012023-04-3003661262bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP