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Company Registration No. 07090358 (England and Wales)
TRACE Publicity Ltd Unaudited accounts for the year ended 31 December 2023
TRACE Publicity Ltd Unaudited accounts Contents
Page
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TRACE Publicity Ltd Company Information for the year ended 31 December 2023
Directors
Rob Davies Lian Hirst
Secretary
Paul Crabbie
Company Number
07090358 (England and Wales)
Registered Office
8-14 Vine Hill London EC1R 5DX
Accountants
Barnes & Scott 86-90 Paul Street Shoreditch London EC2A 4NE
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of TRACE Publicity Ltd for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TRACE Publicity Ltd for the year ended 31 December 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of TRACE Publicity Ltd , as a body, in accordance with the terms of our engagement letter dated 9 September 2020. Our work has been undertaken solely to prepare for your approval the accounts of TRACE Publicity Ltd and state those matters that we have agreed to state to the Board of Directors of TRACE Publicity Ltd , as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TRACE Publicity Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that TRACE Publicity Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of TRACE Publicity Ltd . You consider that TRACE Publicity Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of TRACE Publicity Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Barnes & Scott Chartered Accountants 86-90 Paul Street Shoreditch London EC2A 4NE 17 September 2024
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TRACE Publicity Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
43,272 
37,772 
Current assets
Debtors
1,145,899 
1,286,380 
Cash at bank and in hand
748,970 
1,020,091 
1,894,869 
2,306,471 
Creditors: amounts falling due within one year
(1,237,293)
(1,657,973)
Net current assets
657,576 
648,498 
Total assets less current liabilities
700,848 
686,270 
Provisions for liabilities
Deferred tax
(10,819)
(7,230)
Net assets
690,029 
679,040 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
690,028 
679,039 
Shareholders' funds
690,029 
679,040 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by
Lian Hirst Director Company Registration No. 07090358
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TRACE Publicity Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
TRACE Publicity Ltd is a private company, limited by shares, registered in England and Wales, registration number 07090358. The registered office is 8-14 Vine Hill, London, EC1R 5DX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Fixtures & fittings
20%
Computer equipment
20%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation has been provided at 20% straight line in order to write off the assets over their estimated useful lives.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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TRACE Publicity Ltd Notes to the Accounts for the year ended 31 December 2023
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
19,166 
At 31 December 2023
19,166 
Amortisation
At 1 January 2023
19,166 
At 31 December 2023
19,166 
Net book value
At 31 December 2023
- 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
523 
21,113 
95,453 
117,089 
Additions
- 
- 
20,303 
20,303 
At 31 December 2023
523 
21,113 
115,756 
137,392 
Depreciation
At 1 January 2023
523 
19,921 
58,873 
79,317 
Charge for the year
- 
402 
14,401 
14,803 
At 31 December 2023
523 
20,323 
73,274 
94,120 
Net book value
At 31 December 2023
- 
790 
42,482 
43,272 
At 31 December 2022
- 
1,192 
36,580 
37,772 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
882,789 
1,217,681 
Accrued income and prepayments
171,860 
67,449 
Other debtors
90,000 
- 
1,144,649 
1,285,130 
Amounts falling due after more than one year
Other debtors
1,250 
1,250 
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TRACE Publicity Ltd Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
78,891 
191,796 
Trade creditors
272,417 
167,069 
Taxes and social security
125,020 
81,998 
Other creditors
8,157 
42,550 
Loans from directors
45,196 
52,994 
Accruals
25,177 
8,925 
Deferred income
682,435 
1,112,641 
1,237,293 
1,657,973 
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
180,000 
- 
Later than one year and not later than five years
30,000 
- 
210,000 
- 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's Loan
1,445 
125,000 
125,000 
1,445 
Director's Loan
51,549 
274,061 
281,859 
43,751 
52,994 
399,061 
406,859 
45,196 
10
Average number of employees
During the year the average number of employees was 34 (2022: 32).
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