Tracware Limited |
Trial balance |
AutoHide is on |
Current year |
Comparative |
Enter debits as + and credits as - [assets and expenses are debits] |
£ |
£ |
|
PROFIT AND LOSS ACCOUNT |
Turnover |
Sales |
-1,039,718 |
|
-858,835 |
Cost of sales |
Purchases |
|
Decrease/increase in stocks |
|
Subcontractor costs |
|
Direct labour |
151,583 |
|
136,334 |
|
Carriage |
|
Discounts allowed |
|
Commissions payable |
|
Other direct costs |
2,088 |
|
8,892 |
Distribution costs |
Distribution costs |
Employee costs |
Wages and salaries |
357,619 |
|
215,570 |
|
Directors' salaries |
94,333 |
|
42,127 |
|
Pensions |
26,244 |
|
16,311 |
|
Chairmans expenses |
12,500 |
|
Employer's NI |
59,190 |
|
39,863 |
|
Temporary staff and recruitment |
|
Staff training and welfare |
2,694 |
|
Travel and subsistence |
49,142 |
|
24,397 |
|
Motor expenses |
19,118 |
|
1,250 |
|
Entertaining |
9,897 |
|
4,652 |
Premises costs |
Rent |
19,500 |
|
19,500 |
|
Rates |
1,040 |
|
-2,830 |
|
Service charges |
|
Light and heat |
2,337 |
|
1,965 |
|
Cleaning |
|
Use of home |
1,650 |
General admin |
Telephone and fax |
4,725 |
|
3,901 |
|
Postage |
|
Stationery and printing |
1,990 |
|
442 |
|
Courier services |
|
Website |
25,744 |
|
2,418 |
|
Subscriptions |
8,607 |
|
228 |
|
Bank charges |
1,040 |
|
1,554 |
|
Insurance |
3,472 |
|
1,988 |
|
Equipment expensed |
2,647 |
|
Website |
|
Software |
20,228 |
|
3,548 |
|
Repairs and maintenance |
6,070 |
|
17,193 |
|
Depreciation |
11,140 |
|
7,736 |
|
Exchange differences |
-2,645 |
|
6,250 |
|
Bad debts |
3,749 |
|
Sundry expenses |
623 |
|
1,800 |
Legal and professional costs |
Audit fees |
|
Accountancy fees |
5,506 |
|
5,435 |
|
Solicitors fees |
339 |
|
906 |
|
Management fees |
|
Subcontractor costs |
55,608 |
|
12,500 |
|
Advertising and PR |
29,739 |
|
1,809 |
|
Cosultancy |
34,949 |
|
45,058 |
Other operating income |
Loss 28 August to 31 December 2020 |
P/l on disposal |
Rent received |
-1,200 |
|
Plant & machinery |
|
Income from subsiduary |
-29,636 |
|
-40,613 |
Gain/loss on revaluation |
Fixed asset investments |
|
Current asset investments - listed |
|
Current asset investments - unlisted |
Income from investments |
Income from investments |
Interest receivable |
Interest receivable |
-499 |
|
-159 |
Interest payable |
Interest payable |
1,146 |
|
Non-equity dividends |
Taxation |
Corporation tax |
13,233 |
|
52,952 |
|
Corporation tax - prior year adjustments |
-23,618 |
|
Deferred tax |
|
|
|
|
Retained (profit)/loss |
-64,672 |
|
-219,012 |
|
BALANCE SHEET |
Intangible FA |
Cost - b/fwd |
0 |
|
Cost - additions |
0 |
|
Cost - disposals |
0 |
|
Amortisation - b/fwd |
0 |
|
Amortisation - provided in year |
0 |
|
Amortisation - disposals |
0 |
Land & buildings |
Cost - b/fwd |
27,466 |
|
27,466 |
|
Cost - additions |
|
Cost - revaluation |
0 |
|
Cost - disposals |
0 |
|
Depn - b/fwd |
-18,310 |
|
-12,817 |
|
Depn - charge for the year |
-5,492 |
|
-5,493 |
|
Depn - revaluation |
0 |
|
Depn - disposals |
0 |
Plant & machinery |
Cost - b/fwd |
73,433 |
|
66,939 |
|
Cost - additions |
10,212 |
|
5,658 |
|
Cost - disposals |
0 |
|
Depn - b/fwd |
-68,825 |
|
-66,581 |
|
Depn - provided in year |
-5,648 |
|
-2,243 |
|
Depn - disposals |
0 |
Motor vehicles |
Cost - b/fwd |
0 |
|
Cost - additions |
0 |
|
Cost - disposals |
0 |
|
0 |
|
Depn - b/fwd |
0 |
|
0 |
|
Depn - provided in year |
0 |
|
0 |
|
Depn - disposals |
0 |
|
0 |
Investments in subsidiaries |
B/fwd |
20,201 |
|
20,201 |
|
Additions |
|
Revaluation |
0 |
|
0 |
|
Disposals |
0 |
|
0 |
Other investments - listed |
B/fwd |
0 |
|
0 |
|
Additions |
0 |
|
0 |
|
Revaluation |
0 |
|
0 |
|
Disposals |
0 |
|
0 |
Other investments - unlisted |
B/fwd |
0 |
|
0 |
|
Additions |
0 |
|
0 |
|
Revaluation |
0 |
|
0 |
|
Disposals |
0 |
|
0 |
Stocks |
Stocks |
0 |
|
0 |
Debtors |
Trade debtors |
84,709 |
|
27,248 |
|
Due from group undertakings |
83,790 |
|
39,720 |
|
Other debtors |
4,270 |
|
5,691 |
Current asset investments |
Listed |
0 |
|
Unlisted |
0 |
Cash at bank |
Cash at bank |
209,305 |
|
296,252 |
Creditors less than 1yr |
Overdrafts |
0 |
|
Bank loans |
-40,000 |
|
0 |
|
Accruals |
-3,600 |
|
Trade creditors |
-66,707 |
|
-34,618 |
|
Due to group undertakings |
|
Corporation tax |
-24,650 |
|
-52,952 |
|
Other taxes and social security |
-7,206 |
|
6,773 |
|
Proposed dividends |
0 |
|
Accrued preference dividends |
0 |
|
0 |
|
Non-equity preference shares |
0 |
|
0 |
|
Other creditors |
Creditors greater than 1yr |
Bank loans |
195520-38854 |
-156,666 |
|
0 |
|
Finance lease and HP contracts |
0 |
|
0 |
|
Trade creditors |
0 |
|
0 |
|
Due to group undertakings |
0 |
|
0 |
|
Non-equity preference shares |
0 |
|
0 |
|
Other creditors |
0 |
|
0 |
Deferred tax |
B/fwd |
0 |
|
0 |
|
Charged to the p/l account |
0 |
|
0 |
|
Charged to other comprehensive income |
|
|
|
|
0 |
|
0 |
Share capital |
B/fwd |
-42,494 |
|
-42,494 |
|
Shares issued |
0 |
|
0 |
|
Shares redeemed |
0 |
|
0 |
Share premium |
B/fwd |
-114,735 |
|
-114,735 |
|
On shares issued |
0 |
|
0 |
|
Expenses of issue |
0 |
|
0 |
Revaluation reserve |
B/fwd |
0 |
|
0 |
|
Gain on revaluation of land and buildings |
|
|
|
|
0 |
|
0 |
|
Deferred taxation arising on the revaluation of land and buildings |
|
|
|
|
0 |
|
0 |
Profit and loss account |
B/fwd |
-100,063 |
|
18,601 |
|
Equity dividends |
200,000 |
|
40,000 |
|
|
|
|
|
|
0 |
|
0 |
|
|
|
|
|
|
0 |
|
0 |
|
|
|
|
|
|
0 |
|
0 |
|
|
|
|
|
|
0 |
|
0 |
|
Totals (all should be zero) |
-2,082 |
|
4 |
|
Tracware Limited |
Registered number: |
03750993 |
Balance Sheet |
as at 31 December 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
12,837 |
|
|
12,929 |
Investments |
4 |
|
|
20,201 |
|
|
20,201 |
|
|
|
|
33,038 |
|
|
33,130 |
|
Current assets |
Debtors |
5 |
|
172,766 |
|
|
72,654 |
Cash at bank and in hand |
|
|
209,305 |
|
|
296,253 |
|
|
|
382,071 |
|
|
368,907 |
|
Creditors: amounts falling due within one year |
6 |
|
(76,131) |
|
|
(84,397) |
|
Net current assets |
|
|
|
305,940 |
|
|
284,510 |
|
Total assets less current liabilities |
|
|
|
338,978 |
|
|
317,640 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(156,666) |
|
|
- |
Net assets |
|
|
|
182,312 |
|
|
317,640 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
42,494 |
|
|
42,494 |
Share premium |
|
|
|
114,735 |
|
|
114,735 |
Profit and loss account |
|
|
|
25,083 |
|
|
160,411 |
|
Shareholders' funds |
|
|
|
182,312 |
|
|
317,640 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
A G Maley |
Director |
Approved by the board on 10 July 2024 |
|
Tracware Limited |
Notes to the Accounts |
for the year ended 31 December 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
The company is the parentundertaking of a small group and as such is not required by the Companies Act 2006 to prepare group financial statements. These financial statements therefore represent informationabout the company as an individual undertaking and not about its group. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold improvements buildings |
over 5 years straight-line |
|
Plant and machinery |
|
Computers and office equipment |
over 3 years straight-line |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. |
|
|
Work in progress |
|
Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
|
|
|
|
|
|
|
£ |
|
Corporation tax on profits |
12926 |
|
R &D expenditure claim for 2022 |
|
|
|
|
|
|
(23618) |
|
|
|
|
|
|
|
|
(10692) |
|
|
|
|
|
|
|
|
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
10 |
|
6 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2023 |
27,466 |
|
73,433 |
|
100,899 |
|
Additions |
- |
|
10,212 |
|
10,212 |
|
At 31 December 2023 |
27,466 |
|
83,645 |
|
111,111 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2023 |
18,310 |
|
68,824 |
|
87,134 |
|
Charge for the year |
5,492 |
|
5,648 |
|
11,140 |
|
At 31 December 2023 |
23,802 |
|
74,472 |
|
98,274 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2023 |
3,664 |
|
9,173 |
|
12,837 |
|
At 31 December 2022 |
9,156 |
|
3,773 |
|
12,929 |
|
|
4 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
|
Cost |
|
At 1 January 2023 |
20,201 |
|
|
At 31 December 2023 |
20,201 |
|
|
5 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
Trade debtors |
84,708 |
|
27,247 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
83,789 |
|
39,720 |
|
Other debtors |
4,269 |
|
5,687 |
|
|
|
|
|
|
172,766 |
|
72,654 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
|
Bank loans and overdrafts |
40,000 |
|
- |
|
Accruals and deferred income |
- |
|
3,600 |
|
Trade creditors |
6,357 |
|
34,618 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
- |
|
Corporation tax |
22,568 |
|
24,766 |
|
Other taxation and social security |
7,206 |
|
21,413 |
|
|
|
|
|
|
76,131 |
|
84,397 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
Bank loans |
156,666 |
|
- |
|
|
|
|
|
|
156,666 |
|
- |
|
|
|
|
|
|
|
|
|
|
8 |
Loans |
|
The bank loan was taken out in November 2023 and is repayable over 5 years. |
|
|
|
|
9 |
Other information |
|
Tracware Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Flat 2 , 52 West Hill Road |
|
Ryde |
|
I.W. |
|
PO33 1LN |