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REGISTERED NUMBER: 03803403 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TRACKS PUBLISHING LTD

TRACKS PUBLISHING LTD (REGISTERED NUMBER: 03803403)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRACKS PUBLISHING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: L K Field





REGISTERED OFFICE: Unit 1, A1 Parkway
Southgate Way
Orton Southgate
Peterborough
Cambridgeshire
PE2 6YN





REGISTERED NUMBER: 03803403 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde & Partners
Chartered Certified Accountants
Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY

TRACKS PUBLISHING LTD (REGISTERED NUMBER: 03803403)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,904 20,483

CURRENT ASSETS
Stocks 5 165,481 169,680
Debtors 6 405,070 386,052
Prepayments and accrued income 37,831 35,709
Cash at bank and in hand 662,416 967,560
1,270,798 1,559,001
CREDITORS
Amounts falling due within one year 7 358,592 276,898
NET CURRENT ASSETS 912,206 1,282,103
TOTAL ASSETS LESS CURRENT LIABILITIES 964,110 1,302,586

PROVISIONS FOR LIABILITIES (5,283 ) (1,527 )

ACCRUALS AND DEFERRED INCOME (4,150 ) (4,000 )
NET ASSETS 954,677 1,297,059

CAPITAL AND RESERVES
Called up share capital 5,438 5,438
Capital redemption reserve 4,062 4,062
Retained earnings 945,177 1,287,559
954,677 1,297,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TRACKS PUBLISHING LTD (REGISTERED NUMBER: 03803403)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 August 2024 and were signed by:





L K Field - Director


TRACKS PUBLISHING LTD (REGISTERED NUMBER: 03803403)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Tracks Publishing 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.

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.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on cost
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss.

TRACKS PUBLISHING LTD (REGISTERED NUMBER: 03803403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets or financial liabilities.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss in other administrative expenses.

Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

Creditors and provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably measured. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Loans and borrowings are initially recognised at the transaction price including costs. Subsequently, they are measured at amortised cost using the effective interest method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. The present value of a financial asset or financial liability that is repayable on demand is equal to the undiscounted cash amount expect to be pair or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

TRACKS PUBLISHING LTD (REGISTERED NUMBER: 03803403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 11,921 218 40,898
Additions - 658 -
Disposals - - -
At 31 December 2023 11,921 876 40,898
DEPRECIATION
At 1 January 2023 11,921 201 31,132
Charge for year - 46 2,442
Eliminated on disposal - - -
At 31 December 2023 11,921 247 33,574
NET BOOK VALUE
At 31 December 2023 - 629 7,324
At 31 December 2022 - 17 9,766

TRACKS PUBLISHING LTD (REGISTERED NUMBER: 03803403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 42,572 95,378 190,987
Additions 44,491 - 45,149
Disposals (26,302 ) - (26,302 )
At 31 December 2023 60,761 95,378 209,834
DEPRECIATION
At 1 January 2023 42,572 84,678 170,504
Charge for year 8,565 2,675 13,728
Eliminated on disposal (26,302 ) - (26,302 )
At 31 December 2023 24,835 87,353 157,930
NET BOOK VALUE
At 31 December 2023 35,926 8,025 51,904
At 31 December 2022 - 10,700 20,483

5. STOCKS
31.12.23 31.12.22
£    £   
Stocks 165,481 169,680

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 387,270 368,085
Other debtors 17,550 17,967
Directors' current accounts 250 -
405,070 386,052

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 296,791 158,643
Tax 44,174 62,709
Social security and other taxes 5,927 11,157
VAT 9,372 40,360
Other creditors 2,328 2,080
Directors' current accounts - 1,949
358,592 276,898

TRACKS PUBLISHING LTD (REGISTERED NUMBER: 03803403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 58,500 58,500
Between one and five years 68,250 126,750
126,750 185,250

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
L K Field
Balance outstanding at start of year - -
Amounts advanced 250 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 250 -

The director's current account is interest free, unsecured and repayable on demand. There have been various transactions with the director during the year in the form of a director's current account. Information disclosed is therefore given in an aggregated form. The loan was repaid within 9 months of the year end.