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Registration number: 04945414

TP Tracker Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

TP Tracker Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

TP Tracker Ltd

Company Information

Directors

Mr J Owen

Miss S Grange

Registered office

Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

Accountants

Perk Accounting Ltd
Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

 

TP Tracker Ltd

(Registration number: 04945414)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

7,946

8,939

Tangible assets

5

54,610

60,314

 

62,556

69,253

Current assets

 

Debtors

6

5,649

17,351

Cash at bank and in hand

 

16,809

12,784

 

22,458

30,135

Creditors: Amounts falling due within one year

7

(24,618)

(42,893)

Net current liabilities

 

(2,160)

(12,758)

Net assets

 

60,396

56,495

Capital and reserves

 

Called up share capital

8

68

68

Retained earnings

60,328

56,427

Shareholders' funds

 

60,396

56,495

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr J Owen
Director

.........................................
Miss S Grange
Director

 
     
 

TP Tracker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

These financial statements were authorised for issue by the Board on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

TP Tracker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Asset class

Depreciation method and rate

Plant and machinery

10% straight line

Office equipment

33% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years stright line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

TP Tracker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2022

9,932

9,932

At 31 October 2023

9,932

9,932

Amortisation

At 1 November 2022

993

993

Amortisation charge

993

993

At 31 October 2023

1,986

1,986

Carrying amount

At 31 October 2023

7,946

7,946

At 31 October 2022

8,939

8,939

 

TP Tracker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

4,929

75,000

79,929

Additions

2,453

-

2,453

At 31 October 2023

7,382

75,000

82,382

Depreciation

At 1 November 2022

4,615

15,000

19,615

Charge for the year

657

7,500

8,157

At 31 October 2023

5,272

22,500

27,772

Carrying amount

At 31 October 2023

2,110

52,500

54,610

At 31 October 2022

314

60,000

60,314

6

Debtors

Current

2023
£

2022
£

Trade debtors

4,417

14,312

Prepayments

-

670

Other debtors

1,232

2,369

 

5,649

17,351

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,057

1,854

Taxation and social security

17,136

9,432

Other creditors

5,425

31,607

24,618

42,893

 

TP Tracker Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

68

68

68

68