Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 07533593 Mr Shah Qureshi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07533593 2023-02-28 07533593 2024-02-29 07533593 2023-03-01 2024-02-29 07533593 frs-core:CurrentFinancialInstruments 2024-02-29 07533593 frs-core:Non-currentFinancialInstruments 2024-02-29 07533593 frs-core:ShareCapital 2024-02-29 07533593 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07533593 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07533593 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07533593 frs-bus:SmallEntities 2023-03-01 2024-02-29 07533593 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07533593 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07533593 frs-bus:Director1 2023-03-01 2024-02-29 07533593 frs-countries:EnglandWales 2023-03-01 2024-02-29 07533593 2022-02-28 07533593 2023-02-28 07533593 2022-03-01 2023-02-28 07533593 frs-core:CurrentFinancialInstruments 2023-02-28 07533593 frs-core:Non-currentFinancialInstruments 2023-02-28 07533593 frs-core:ShareCapital 2023-02-28 07533593 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 07533593
GLOBAL TRACK LIMITED
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07533593
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 15,250 -
Debtors 5 5,197 6,089
Cash at bank and in hand 5,785 26,350
26,232 32,439
Creditors: Amounts Falling Due Within One Year 6 (26,875 ) (28,858 )
NET CURRENT ASSETS (LIABILITIES) (643 ) 3,581
TOTAL ASSETS LESS CURRENT LIABILITIES (643 ) 3,581
Creditors: Amounts Falling Due After More Than One Year 7 (19,693 ) (21,909 )
NET LIABILITIES (20,336 ) (18,328 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account (21,336 ) (19,328 )
SHAREHOLDERS' FUNDS (20,336) (18,328)
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Shah Qureshi
Director
28/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GLOBAL TRACK LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07533593 . The registered office is 193,Bow Common Lane, London, E3 4JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 2 1
3 2
4. Stocks
2024 2023
£ £
Work in progress 15,250 -
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,936 1,936
VAT 33 -
Director's loan account 3,228 4,153
5,197 6,089
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,887 19,618
Bank loans and overdrafts 6,369 6,226
Corporation tax 111 111
Other taxes and social security 1,251 1,243
Net wages - 1,082
Other creditors (297 ) 24
Accruals and deferred income 554 554
26,875 28,858
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 19,693 21,909
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4