Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01falseNo description of principal activity109truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10640926 2023-03-01 2024-02-29 10640926 2022-03-01 2023-02-28 10640926 2024-02-29 10640926 2023-02-28 10640926 c:Director1 2023-03-01 2024-02-29 10640926 c:Director2 2023-03-01 2024-02-29 10640926 c:RegisteredOffice 2023-03-01 2024-02-29 10640926 d:FurnitureFittings 2023-03-01 2024-02-29 10640926 d:FurnitureFittings 2024-02-29 10640926 d:FurnitureFittings 2023-02-28 10640926 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 10640926 d:OfficeEquipment 2023-03-01 2024-02-29 10640926 d:OfficeEquipment 2024-02-29 10640926 d:OfficeEquipment 2023-02-28 10640926 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 10640926 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 10640926 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-29 10640926 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 10640926 d:ComputerSoftware 2024-02-29 10640926 d:ComputerSoftware 2023-02-28 10640926 d:CurrentFinancialInstruments 2024-02-29 10640926 d:CurrentFinancialInstruments 2023-02-28 10640926 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 10640926 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 10640926 d:ShareCapital 2024-02-29 10640926 d:ShareCapital 2023-02-28 10640926 d:RetainedEarningsAccumulatedLosses 2024-02-29 10640926 d:RetainedEarningsAccumulatedLosses 2023-02-28 10640926 c:OrdinaryShareClass1 2023-03-01 2024-02-29 10640926 c:OrdinaryShareClass1 2024-02-29 10640926 c:OrdinaryShareClass2 2023-03-01 2024-02-29 10640926 c:OrdinaryShareClass2 2024-02-29 10640926 c:OrdinaryShareClass3 2023-03-01 2024-02-29 10640926 c:OrdinaryShareClass3 2024-02-29 10640926 c:FRS102 2023-03-01 2024-02-29 10640926 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10640926 c:FullAccounts 2023-03-01 2024-02-29 10640926 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10640926 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-01 2024-02-29 10640926 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-02-29 10640926 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 10640926 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2023-03-01 2024-02-29 10640926 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-03-01 2024-02-29 10640926 2 2023-03-01 2024-02-29 10640926 d:ExternallyAcquiredIntangibleAssets 2023-03-01 2024-02-29 10640926 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-03-01 2024-02-29 10640926 d:ComputerSoftware d:OwnedIntangibleAssets 2023-03-01 2024-02-29 10640926 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10640926










THE TRACING GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
THE TRACING GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
D C Higgins 
M A Higgins 




Registered number
10640926



Registered office
Unit 4d Wymondham Business Centre
Eleven Mile Lane

Wymondham

Norfolk

NR18 9JL




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
THE TRACING GROUP LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 10


 
THE TRACING GROUP LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE TRACING GROUP LIMITED
FOR THE YEAR ENDED 29 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Tracing Group Limited for the year ended 29 February 2024 which comprise  the Balance sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of The Tracing Group Limited, as a body, in accordance with the terms of our engagement letter dated 11 March 2022Our work has been undertaken solely to prepare for your approval the financial statements of The Tracing Group Limited and state those matters that we have agreed to state to the Board of directors of The Tracing Group Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Tracing Group Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that The Tracing Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Tracing Group Limited. You consider that The Tracing Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Tracing Group Limited. 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 financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
6 November 2024
Page 1

 
THE TRACING GROUP LIMITED
REGISTERED NUMBER: 10640926

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
29,020
4,300

Tangible assets
 5 
13,259
11,025

Investments
 6 
30,000
-

  
72,279
15,325

Current assets
  

Debtors: amounts falling due within one year
 7 
203,151
145,538

Cash at bank and in hand
  
582,176
437,441

  
785,327
582,979

Creditors: amounts falling due within one year
 8 
(183,858)
(105,102)

Net current assets
  
 
 
601,469
 
 
477,877

Total assets less current liabilities
  
673,748
493,202

Provisions for liabilities
  

Deferred tax
  
(3,275)
(2,791)

  
 
 
(3,275)
 
 
(2,791)

Net assets
  
670,473
490,411


Capital and reserves
  

Called up share capital 
 9 
1,000
1,000

Profit and loss account
  
669,473
489,411

  
670,473
490,411


Page 2

 
THE TRACING GROUP LIMITED
REGISTERED NUMBER: 10640926
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 November 2024.






D C Higgins
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
THE TRACING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Tracing Group Limited is a private limited company incorporated in England and Wales.  Its registered office is Unit 4d Wymondham Business Centre, Eleven Mile Lane, Wymondham, United Kingdom, NR18 9JL. 
The company's principal activity is tracing and data cleaning services for financial institutions for the purposes of asset reunification, and its activities are undertaken in Wymondham.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue 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. Revenue 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
THE TRACING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
THE TRACING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 9).

Page 6

 
THE TRACING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Trademarks
Computer software
Total

£
£
£



Cost


At 1 March 2023
4,300
-
4,300


Additions
-
30,900
30,900



At 29 February 2024

4,300
30,900
35,200



Amortisation


Charge for the year on owned assets
-
6,180
6,180



At 29 February 2024

-
6,180
6,180



Net book value



At 29 February 2024
4,300
24,720
29,020



At 28 February 2023
4,300
-
4,300



Page 7

 
THE TRACING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
6,060
18,110
24,170


Additions
857
5,214
6,071



At 29 February 2024

6,917
23,324
30,241



Depreciation


At 1 March 2023
2,544
10,601
13,145


Charge for the year on owned assets
656
3,181
3,837



At 29 February 2024

3,200
13,782
16,982



Net book value



At 29 February 2024
3,717
9,542
13,259



At 28 February 2023
3,516
7,509
11,025


6.


Fixed asset investments








Trade investments

£





Additions
30,000








 

Page 8

 
THE TRACING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
138,788
103,918

Other debtors
6,927
5,552

Prepayments and accrued income
57,436
36,068

203,151
145,538



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
15,054
7,540

Corporation tax
46,955
26,033

Other taxation and social security
107,835
50,302

Other creditors
216
135

Accruals and deferred income
13,798
21,092

183,858
105,102



9.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



750 A Ordinary shares of £1.00 each
750
750
150 B Ordinary shares of £1.00 each
150
150
100 C Ordinary shares of £1.00 each
100
100

1,000

1,000



10.


Pension commitments

Contributions totalling £nil (2023 - £135) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
THE TRACING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.Commitments, quarantees and contingencies

At 28 February 2024, the company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £38,576.


12.


Transactions with directors

As at 1 March 2023 the directors owed the company £689.  During the year the company made advances of £360 to the directors, and repayments of £1,216 were made.  As at the 29 February 2024 the company owed the directors £167, and this is included within other creditors on note 8 to the financial statements.

 
Page 10