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REGISTERED NUMBER: 07991730 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MARITRACE LIMITED

MARITRACE LIMITED (REGISTERED NUMBER: 07991730)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARITRACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T J Owen
S Rathbone
M Goldsteen





REGISTERED OFFICE: Jamesons House
Compton Way
Witney
Oxfordshire
OX283AB





REGISTERED NUMBER: 07991730 (England and Wales)





ACCOUNTANTS: Jamesons Limited
Jamesons House
Compton Way
Witney
OX28 3AB

MARITRACE LIMITED (REGISTERED NUMBER: 07991730)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,341 8,503

CURRENT ASSETS
Debtors 5 194,762 197,255
Cash at bank 144,143 230,504
338,905 427,759
CREDITORS
Amounts falling due within one year 6 112,501 79,787
NET CURRENT ASSETS 226,404 347,972
TOTAL ASSETS LESS CURRENT LIABILITIES 243,745 356,475

CREDITORS
Amounts falling due after more than one
year

7

763,762

799,493
NET LIABILITIES (520,017 ) (443,018 )

CAPITAL AND RESERVES
Called up share capital 8 500 500
Retained earnings (520,517 ) (443,518 )
SHAREHOLDERS' FUNDS (520,017 ) (443,018 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MARITRACE LIMITED (REGISTERED NUMBER: 07991730)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:




T J Owen - Director



S Rathbone - Director


MARITRACE LIMITED (REGISTERED NUMBER: 07991730)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Maritrace 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 a going concern basis even though the company has net liabilities at 31 March 2024 of £520,017 (2023 : £443,018).

The validity of the going concern principle is dependent upon the continued support of the company's directors.

If the company was unable to continue trading adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, provide for further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 25% on reducing balance and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MARITRACE LIMITED (REGISTERED NUMBER: 07991730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 11,613
Additions 15,657
At 31 March 2024 27,270
DEPRECIATION
At 1 April 2023 3,110
Charge for year 6,819
At 31 March 2024 9,929
NET BOOK VALUE
At 31 March 2024 17,341
At 31 March 2023 8,503

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 173,729 174,775
Other debtors 21,033 22,480
194,762 197,255

MARITRACE LIMITED (REGISTERED NUMBER: 07991730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 22,665 15,245
Taxation and social security 12,952 12,969
Other creditors 76,884 51,573
112,501 79,787

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 763,762 799,493

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
250 A Ordinary £1 250 250
250 B Ordinary £1 250 250
500 500