0 01/02/2023 31/01/2024 2024-01-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-02-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13139162 2023-02-01 2024-01-31 13139162 2024-01-31 13139162 2023-01-31 13139162 2022-02-01 2023-01-31 13139162 2023-01-31 13139162 2022-01-31 13139162 bus:RegisteredOffice 2023-02-01 2024-01-31 13139162 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 13139162 bus:Director1 2023-02-01 2024-01-31 13139162 bus:Director2 2023-02-01 2024-01-31 13139162 core:LandBuildings 2024-01-31 13139162 core:WithinOneYear 2024-01-31 13139162 core:WithinOneYear 2023-01-31 13139162 core:AfterOneYear 2023-01-31 13139162 core:ShareCapital 2024-01-31 13139162 core:ShareCapital 2023-01-31 13139162 core:RevaluationReserve 2024-01-31 13139162 core:RevaluationReserve 2023-01-31 13139162 core:RetainedEarningsAccumulatedLosses 2024-01-31 13139162 core:RetainedEarningsAccumulatedLosses 2023-01-31 13139162 core:LandBuildings 2023-01-31 13139162 bus:SmallEntities 2023-02-01 2024-01-31 13139162 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13139162 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13139162 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13139162 bus:FullAccounts 2023-02-01 2024-01-31
Company registration number: 13139162
Trackgate Properties Limited
Unaudited filleted financial statements
31 January 2024
Trackgate Properties Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Trackgate Properties Limited
Directors and other information
Directors Mr D M Poynting
Mrs S Carey Poynting
Company number 13139162
Registered office 35 Hove Park Way
Hove
East Sussex
BN3 6PW
Business address 35 Hove Park Road
Hove
East Sussex
BN3 6PW
Accountants Keith Bellenie & Co Ltd
3 Cecilian Court
Cecilian Avenue
Worthing
West Sussex
BN14 3AP
Bankers Virgin
Trackgate Properties Limited
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 939,000 939,000
_______ _______
939,000 939,000
Current assets
Debtors 6 6,974 6,900
Cash at bank and in hand 31,343 42,894
_______ _______
38,317 49,794
Creditors: amounts falling due
within one year 7 ( 940,015) ( 678,354)
_______ _______
Net current liabilities ( 901,698) ( 628,560)
_______ _______
Total assets less current liabilities 37,302 310,440
Creditors: amounts falling due
after more than one year 8 - ( 300,000)
_______ _______
Net assets 37,302 10,440
_______ _______
Capital and reserves
Called up share capital 202 201
Revaluation reserve ( 25,943) ( 25,943)
Profit and loss account 63,043 36,182
_______ _______
Shareholders funds 37,302 10,440
_______ _______
For the year ending 31 January 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Mr D M Poynting
Director
Company registration number: 13139162
Trackgate Properties Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Hove Park Way, Hove, East Sussex, BN3 6PW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 1 ).
5. Tangible assets
Freehold properties Total
£ £
Cost
At 1 February 2023 and 31 January 2024 939,000 939,000
_______ _______
Depreciation
At 1 February 2023 and 31 January 2024 - -
_______ _______
Carrying amount
At 31 January 2024 939,000 939,000
_______ _______
At 31 January 2023 939,000 939,000
_______ _______
Investment property
The properties have been valued by the directors to show their fair value at 31 January 2024. In the opinion of the directors there was no change in value during the year.
6. Debtors
2024 2023
£ £
Trade debtors 300 300
Other debtors 6,674 6,600
_______ _______
6,974 6,900
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Loan 700,000 -
Corporation tax 6,300 6,831
Other creditors 233,715 671,523
_______ _______
940,015 678,354
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors - 300,000
_______ _______
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
700,000 - 700,000 -
_______ _______ _______ _______
The loan was advanced by Planlogic Software Limited at an interest rate of 4%. The directors of Trackgate Properties Limited are also directors of the lending company but they do not have control of that company.