2022-08-012023-07-312023-07-31false03333329TRACK PROPERTIES 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TRACK PROPERTIES LIMITED

Registered Number
03333329
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

TRACK PROPERTIES LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

WILLSHER, Matthew Stephen
WILLSHER, Paul Mark

Registered Address

Higher Trewince House
St Columb Minor
Newquay
TR8 4HR

Registered Number

03333329 (England and Wales)
TRACK PROPERTIES LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6262,969263,476
262,969263,476
Current assets
Debtors82,8483,131
Cash at bank and on hand1,9543,255
4,8026,386
Creditors amounts falling due within one year9(221,360)(239,338)
Net current assets (liabilities)(216,558)(232,952)
Total assets less current liabilities46,41130,524
Net assets46,41130,524
Capital and reserves
Called up share capital100100
Other reserves63,04963,049
Profit and loss account(16,738)(32,625)
Shareholders' funds46,41130,524
The financial statements were approved and authorised for issue by the Board of Directors on 5 March 2024, and are signed on its behalf by:
WILLSHER, Paul Mark
Director
Registered Company No. 03333329
TRACK PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company was the provision of haulage services and holding of investments.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year33
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 August 22271,291
At 31 July 23271,291
Depreciation and impairment
At 01 August 227,815
Charge for year507
At 31 July 238,321
Net book value
At 31 July 23262,969
At 31 July 22263,476
7.Stocks
8.Debtors

2023

2022

££
Trade debtors / trade receivables1,6001,600
Other debtors1,2481,531
Total2,8483,131
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables101518
Amounts owed to related parties218,281234,988
Taxation and social security3701,225
Other creditors29156
Accrued liabilities and deferred income2,5792,451
Total221,360239,338
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.