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REGISTERED NUMBER: 03195162 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

TEKRAC LIMITED

TEKRAC LIMITED (REGISTERED NUMBER: 03195162)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TEKRAC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTOR: Mr R Carkett





SECRETARY: Mrs J Carkett





REGISTERED OFFICE: 39 The Metro Centre
Tolpits Lane
Watford
Hertfordshire
WD18 9SB





REGISTERED NUMBER: 03195162 (England and Wales)





ACCOUNTANTS: Meades Group Limited
39 The Metro Centre
Tolpits Lane
Watford
Hertfordshire
WD18 9SB

TEKRAC LIMITED (REGISTERED NUMBER: 03195162)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,593 4,453

CURRENT ASSETS
Stocks 4,000 12,750
Debtors 5 39,871 46,885
Cash at bank and in hand 19,001 2,385
62,872 62,020
CREDITORS
Amounts falling due within one year 6 117,817 120,764
NET CURRENT LIABILITIES (54,945 ) (58,744 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(52,352

)

(54,291

)

PROVISIONS FOR LIABILITIES 463 816
NET LIABILITIES (52,815 ) (55,107 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (52,817 ) (55,109 )
SHAREHOLDERS' FUNDS (52,815 ) (55,107 )

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

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

The director acknowledges his 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.

TEKRAC LIMITED (REGISTERED NUMBER: 03195162)

BALANCE SHEET - continued
31ST MAY 2023


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 director and authorised for issue on 21st February 2024 and were signed by:





Mr R Carkett - Director


TEKRAC LIMITED (REGISTERED NUMBER: 03195162)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Tekrac 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.

The financial statements have been prepared on the going concern basis, on the assumption that the company will continue to trade for the foreseeable future, despite it having net current liabilities of £54,945 (2022 - £58,744) as at the balance sheet date.

The director considers the going concern basis to be appropriate as, in his opinion, the company will be able to secure sufficient funding to enable it to pay its debts as they fall due.

Turnover
Turnover represents the value of goods and services sold from supplying equipment, net of value added tax. Income is recognised when an invoice is raised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

TEKRAC LIMITED (REGISTERED NUMBER: 03195162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st June 2022
and 31st May 2023 8,294 727 1,466 10,487
DEPRECIATION
At 1st June 2022 4,147 704 1,183 6,034
Charge for year 1,659 6 195 1,860
At 31st May 2023 5,806 710 1,378 7,894
NET BOOK VALUE
At 31st May 2023 2,488 17 88 2,593
At 31st May 2022 4,147 23 283 4,453

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 39,871 42,045
VAT - 4,840
39,871 46,885

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 2,092
Trade creditors 52,552 62,093
VAT 4,653 -
Other creditors 11,279 3,965
Director's current account 49,333 52,614
117,817 120,764

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 2,092

TEKRAC LIMITED (REGISTERED NUMBER: 03195162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

8. RELATED PARTY DISCLOSURES

The director's current account balance of £49,333 (2022 - £52,614) has no fixed date for
repayment, is repayable upon demand and is non-interest bearing.