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REGISTERED NUMBER: 13037566 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Trax Performance Ltd

Trax Performance Ltd (Registered number: 13037566)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Trax Performance Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr R S Matthews
Mr G B Rigg





REGISTERED OFFICE: 45 Lodge Causeway
Bristol
BS16 3JA





REGISTERED NUMBER: 13037566 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

Trax Performance Ltd (Registered number: 13037566)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,617 43,726

CURRENT ASSETS
Debtors 5 13,947 14,373
Cash at bank and in hand 15,094 4,437
29,041 18,810
CREDITORS
Amounts falling due within one year 6 74,353 74,014
NET CURRENT LIABILITIES (45,312 ) (55,204 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,695

)

(11,478

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (6,795 ) (11,578 )
(6,695 ) (11,478 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

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:





Mr G B Rigg - Director


Trax Performance Ltd (Registered number: 13037566)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Trax Performance Ltd 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.

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.
Fixtures, fittings & equipment - 15% on reducing balance basis
Computer equipment - 33.33% on reducing balance basis

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

Trax Performance Ltd (Registered number: 13037566)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings Computer
& equipment equipment Totals
£    £    £   
COST
At 1 December 2022 50,608 507 51,115
Additions 1,465 359 1,824
At 30 November 2023 52,073 866 52,939
DEPRECIATION
At 1 December 2022 7,274 115 7,389
Charge for year 6,718 215 6,933
At 30 November 2023 13,992 330 14,322
NET BOOK VALUE
At 30 November 2023 38,081 536 38,617
At 30 November 2022 43,334 392 43,726

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,168 2,018
Other debtors 9,000 7,665
Prepayments 2,779 4,690
13,947 14,373

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 17,500 17,500
Trade creditors 1,271 1,590
Social security and other taxes 312 -
VAT 915 1,447
Directors' loan accounts 52,851 52,184
Accrued expenses 1,504 1,293
74,353 74,014