Traqa Limited 03440555 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of a sales agency for medical consumables. Digita Accounts Production Advanced 6.30.9574.0 true true 03440555 2023-03-01 2024-02-29 03440555 2024-02-29 03440555 core:CurrentFinancialInstruments 2024-02-29 03440555 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 03440555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 03440555 bus:SmallEntities 2023-03-01 2024-02-29 03440555 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 03440555 bus:FilletedAccounts 2023-03-01 2024-02-29 03440555 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 03440555 bus:RegisteredOffice 2023-03-01 2024-02-29 03440555 bus:Director1 2023-03-01 2024-02-29 03440555 bus:Director2 2023-03-01 2024-02-29 03440555 bus:Director5 2023-03-01 2024-02-29 03440555 bus:Director6 2023-03-01 2024-02-29 03440555 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03440555 1 2023-03-01 2024-02-29 03440555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 03440555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 1 2023-03-01 2024-02-29 03440555 core:IntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 03440555 countries:EnglandWales 2023-03-01 2024-02-29 03440555 2023-02-28 03440555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 03440555 2022-03-01 2023-02-28 03440555 2023-02-28 03440555 core:CurrentFinancialInstruments 2023-02-28 03440555 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 03440555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 03440555

Traqa Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Traqa Limited

Contents

Company Information

1

Directors' Report

2

Statement of Financial Position

3 to 4

Notes to the Financial Statements

5 to 8

 

Traqa Limited

Company Information

Directors

R A Pegna

C N Pegna

J S Pegna

L Faley

Registered office

2 Arlington Court
Whittle Way
Arlington Business Park
Stevenage
Hertfordshire
SG1 2FS

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Traqa Limited

Directors' Report for the Year Ended 29 February 2024

The directors present their report and the financial statements for the year ended 29 February 2024.

Directors of the company

The directors who held office during the year were as follows:

R A Pegna

C N Pegna

J S Pegna

L Faley

Small companies provision statement

This report has 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.

Approved by the Board on 4 September 2024 and signed on its behalf by:




 

.........................................
R A Pegna
Director

.........................................
C N Pegna
Director

 

Traqa Limited

Statement of Financial Position as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

272,065

298,049

Current assets

 

Debtors

6

270,816

263,803

Cash at bank and in hand

 

16,787

3,809

 

287,603

267,612

Creditors: Amounts falling due within one year

7

(11,752)

(3,074)

Net current assets

 

275,851

264,538

Total assets less current liabilities

 

547,916

562,587

Provisions for liabilities

-

(2,856)

Net assets

 

547,916

559,731

Capital and reserves

 

Called up share capital

230,000

230,000

Retained earnings

317,916

329,731

Shareholders' funds

 

547,916

559,731

For the financial year ending 29 February 2024 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Traqa Limited

Statement of Financial Position as at 29 February 2024

Approved and authorised by the Board on 4 September 2024 and signed on its behalf by:
 

.........................................

R A Pegna

Director

.........................................

C N Pegna

Director

Company registration number: 03440555

 

Traqa Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

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:
2 Arlington Court
Whittle Way
Arlington Business Park
Stevenage
Hertfordshire
SG1 2FS

The principal activity of the company is that of a sales agency for medical consumables.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a loss for the year ended 29 February 2024 but had net assets of £547,916 at that date.

The company operates in the health care sector and the company's software development is now complete and available to produce economic benefit.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax, returns, rebates and discounts.

The company recognises revenue from the sale of goods at the point of despatch when it is probable that economic benefit will flow to the company.

 

Traqa Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are stated in the statement of financial position at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

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

Research and development

Research expenditure is written off in the period in which it is incurred.

Software development costs are recognised as an intangible asset when all of the following criteria are demonstrated:

- The technical feasibility of completing the software so that it will be available for use or sale.
- The intention to complete the software and use or sell it.
- The ability to use the software or to sell it
- How the software will generate probable future economic benefits.
- The availability of adequate technical, financial and other resources to complete the development and to use or sell the software.
- The ability to measure reliably the expenditure attributable to the software during its development.

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

Software development

10 years straight 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.

 

Traqa Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Amortisation expense

38,796

30,198

5

Intangible assets

Software development
£

Total
£

Cost or valuation

At 1 March 2023

405,559

405,559

Additions

12,812

12,812

At 29 February 2024

418,371

418,371

Amortisation

At 1 March 2023

107,510

107,510

Amortisation charge

38,796

38,796

At 29 February 2024

146,306

146,306

Carrying amount

At 29 February 2024

272,065

272,065

At 28 February 2023

298,049

298,049

6

Debtors

2024
£

2023
£

Amounts owed by group undertakings

239,827

250,416

Other debtors

30,989

13,387

270,816

263,803

 

Traqa Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

-

768

Taxation and social security

2,608

-

Other creditors

9,144

2,306

11,752

3,074

8

Financial commitments, guarantees and contingencies

The company has guaranteed the parent undertaking's financial commitments under operating leases which amounted to £48,833 (2023 - £89,667).

9

Related party transactions

In accordance with FRS 102 paragraph 1AC.35 exemption is taken not to disclose transactions in the year or amounts falling due between undertakings where 100% of voting rights are controlled within the group.