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REGISTERED NUMBER: 07009825 (England and Wales)















Financial Statements

for the Year Ended 31 December 2023

for

ONTRACK GROUNDWORKS LIMITED

ONTRACK GROUNDWORKS LIMITED (REGISTERED NUMBER: 07009825)

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


ONTRACK GROUNDWORKS LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: R Davies





REGISTERED OFFICE: 2 South View
Sowood Green
Sowood
Halifax
HX4 9JJ





REGISTERED NUMBER: 07009825 (England and Wales)





ACCOUNTANTS: Rawse, Varley & Co
Chartered Accountants
Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ

ONTRACK GROUNDWORKS LIMITED (REGISTERED NUMBER: 07009825)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,000 10,500
Tangible assets 5 38,896 21,923
47,896 32,423

CURRENT ASSETS
Stock 250 250
Debtors 6 3,575 5,376
3,825 5,626
CREDITORS
Amounts falling due within one year 7 26,203 27,310
NET CURRENT LIABILITIES (22,378 ) (21,684 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,518

10,739

CREDITORS
Amounts falling due after more than one
year

8

(12,280

)

(5,632

)

PROVISIONS FOR LIABILITIES (7,390 ) (4,166 )
NET ASSETS 5,848 941

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,748 841
SHAREHOLDERS' FUNDS 5,848 941

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.

ONTRACK GROUNDWORKS LIMITED (REGISTERED NUMBER: 07009825)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





R Davies - Director


ONTRACK GROUNDWORKS LIMITED (REGISTERED NUMBER: 07009825)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Ontrack Groundworks 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.

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 represents the total invoice value of sales made during the year, excluding value added tax.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:

Plant and machinery -15% reducing balance
Fixtures fittings and equipment-15% reducing balance
Motor vehicles -25% 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.

Hire purchase and leasing commitments
Assets held under hire purchase, finance lease and similar agreements are capitalised as tangible fixed assets and the corresponding liability to pay rentals is shown net of finance charges as hire purchase and lease obligations. The finance charge element of rentals is allocated so as to produce a constant periodic rate of charge on the remaining balance of the obligation for each accounting period.

ONTRACK GROUNDWORKS LIMITED (REGISTERED NUMBER: 07009825)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023 19,500
Amortisation for year 1,500
At 31 December 2023 21,000
NET BOOK VALUE
At 31 December 2023 9,000
At 31 December 2022 10,500

5. TANGIBLE FIXED ASSETS
Plant,
equipment
and
vehicles
£   
COST
At 1 January 2023 62,126
Additions 32,538
Disposals (33,057 )
At 31 December 2023 61,607
DEPRECIATION
At 1 January 2023 40,203
Charge for year 8,317
Eliminated on disposal (25,809 )
At 31 December 2023 22,711
NET BOOK VALUE
At 31 December 2023 38,896
At 31 December 2022 21,923

Plant, equipment & vehicles include assets subject to hire purchase contracts with a net book value of £20,448 (2022 - £6,263). The depreciation charge for the year was £4,090 (2022 - £2,088).

ONTRACK GROUNDWORKS LIMITED (REGISTERED NUMBER: 07009825)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,040 780
Other debtors 535 4,596
3,575 5,376

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,973 16,472
Hire purchase contracts 3,210 2,929
Trade creditors 1,712 1,567
Taxation and social security 9,408 4,969
Other creditors 1,900 1,373
26,203 27,310

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 3,075 5,125
Hire purchase contracts 9,205 507
12,280 5,632

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director, R Davies, operates a current account with the company which was overdrawn at the beginning of the year and by a maximum amount of £14,776 for a period of 144 days during the year. The current account is interest free and was in credit at the end of the year.