2 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06469626 2022-01-01 2022-12-31 06469626 2022-12-31 06469626 2021-12-31 06469626 2021-01-01 2021-12-31 06469626 2021-12-31 06469626 core:FurnitureFittings 2022-01-01 2022-12-31 06469626 core:MotorVehicles 2022-01-01 2022-12-31 06469626 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 06469626 bus:Director4 2022-01-01 2022-12-31 06469626 core:FurnitureFittings 2021-12-31 06469626 core:MotorVehicles 2021-12-31 06469626 core:FurnitureFittings 2022-12-31 06469626 core:MotorVehicles 2022-12-31 06469626 core:WithinOneYear 2022-12-31 06469626 core:WithinOneYear 2021-12-31 06469626 core:ShareCapital 2022-12-31 06469626 core:ShareCapital 2021-12-31 06469626 core:RevaluationReserve 2022-12-31 06469626 core:RevaluationReserve 2021-12-31 06469626 core:RetainedEarningsAccumulatedLosses 2022-12-31 06469626 core:RetainedEarningsAccumulatedLosses 2021-12-31 06469626 core:FurnitureFittings 2021-12-31 06469626 core:MotorVehicles 2021-12-31 06469626 bus:SmallEntities 2022-01-01 2022-12-31 06469626 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 06469626 bus:FullAccounts 2022-01-01 2022-12-31 06469626 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 06469626 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 06469626 bus:OrdinaryShareClass1 2022-12-31 06469626 bus:OrdinaryShareClass1 2021-12-31 06469626 core:OfficeEquipment 2022-01-01 2022-12-31 06469626 core:OfficeEquipment 2021-12-31 06469626 core:InvestmentPropertyIncludedWithinPPE 2021-12-31 06469626 core:InvestmentPropertyIncludedWithinPPE 2022-01-01 2022-12-31 06469626 core:OfficeEquipment 2022-12-31 06469626 core:InvestmentPropertyIncludedWithinPPE 2022-12-31
COMPANY REGISTRATION NUMBER: 06469626
Ontrax Ltd
Filleted Unaudited Financial Statements
31 December 2022
Ontrax Ltd
Financial Statements
Year ended 31 December 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Ontrax Ltd
Statement of Financial Position
31 December 2022
2022
2021
Note
£
£
£
£
Fixed assets
Tangible assets
5
932,763
876,259
Current assets
Debtors
6
5,234
244,792
Cash at bank and in hand
560,001
271,074
---------
---------
565,235
515,866
Creditors: amounts falling due within one year
7
137,728
265,275
---------
---------
Net current assets
427,507
250,591
------------
------------
Total assets less current liabilities
1,360,270
1,126,850
Provisions
Taxation including deferred tax
11,234
( 1,021)
------------
------------
Net assets
1,349,036
1,127,871
------------
------------
Ontrax Ltd
Statement of Financial Position (continued)
31 December 2022
2022
2021
Note
£
£
£
£
Capital and reserves
Called up share capital
8
40,000
40,000
Revaluation reserve
( 29,432)
( 29,432)
Profit and loss account
1,338,468
1,117,303
------------
------------
Shareholders funds
1,349,036
1,127,871
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 October 2023 , and are signed on behalf of the board by:
P J Rose Director
Company registration number: 06469626
Ontrax Ltd
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Church Green East, Redditch, Worcestershire, B98 8BT. The place of business is 4 Drift Close, Blackfordby, Swadlincote, Derbyshire, DE11 8BE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents sales of goods and services and is recognised when goods and services are physically supplied to the customer.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term.
Tangible assets
Tangible assets other than investment properties are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Investment properties
Investment properties are revalued to their fair value at each reporting date by the directors and any changes in fair value are recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Tangible assets
Office
Motor vehicles
Equipment
Investment property
Total
£
£
£
£
£
Cost
At 1 January 2022
3,279
600
9,416
872,338
885,633
Additions
649
53,548
334
16,620
71,151
Disposals
( 600)
( 600)
-------
--------
-------
---------
---------
At 31 December 2022
3,928
53,548
9,750
888,958
956,184
-------
--------
-------
---------
---------
Depreciation
At 1 January 2022
2,379
554
6,441
9,374
Charge for the year
387
13,387
828
14,602
Disposals
( 555)
( 555)
-------
--------
-------
---------
---------
At 31 December 2022
2,766
13,386
7,269
23,421
-------
--------
-------
---------
---------
Carrying amount
At 31 December 2022
1,162
40,162
2,481
888,958
932,763
-------
--------
-------
---------
---------
At 31 December 2021
900
46
2,975
872,338
876,259
-------
--------
-------
---------
---------
6. Debtors
2022
2021
£
£
Trade debtors
1,800
224,579
Other debtors
3,434
20,213
-------
---------
5,234
244,792
-------
---------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
34,841
44,487
Trade creditors
2,831
52,407
Social security and other taxes
50,442
71,782
Other creditors
49,614
96,599
---------
---------
137,728
265,275
---------
---------
8. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
40,000
40,000
40,000
40,000
--------
--------
--------
--------