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REGISTERED NUMBER: 06959329 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Trackit247 Limited

Trackit247 Limited (Registered number: 06959329)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Trackit247 Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S Mistry
H Mistry





REGISTERED OFFICE: Unit 7 Marchmont Gate
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7BF





REGISTERED NUMBER: 06959329 (England and Wales)





ACCOUNTANTS: Stewarts Accountants Limited
271 High Street
Berkhamsted
Hertfordshire
HP4 1AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Trackit247 Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trackit247 Limited for the year ended 30 June 2024 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Trackit247 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Trackit247 Limited and state those matters that we have agreed to state to the Board of Directors of Trackit247 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trackit247 Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Trackit247 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 Trackit247 Limited. You consider that Trackit247 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Trackit247 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.






Stewarts Accountants Limited
271 High Street
Berkhamsted
Hertfordshire
HP4 1AA


30 November 2024

Trackit247 Limited (Registered number: 06959329)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 258,233 125,900

CURRENT ASSETS
Stocks 33,911 21,662
Debtors 5 159,689 127,972
Cash at bank 871,840 1,022,794
1,065,440 1,172,428
CREDITORS
Amounts falling due within one year 6 317,628 322,293
NET CURRENT ASSETS 747,812 850,135
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,006,045

976,035

PROVISIONS FOR LIABILITIES 57,640 31,475
NET ASSETS 948,405 944,560

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 948,305 944,460
SHAREHOLDERS' FUNDS 948,405 944,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Trackit247 Limited (Registered number: 06959329)

Balance Sheet - continued
30 June 2024


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 Board of Directors and authorised for issue on 30 November 2024 and were signed on its behalf by:





S Mistry - Director


Trackit247 Limited (Registered number: 06959329)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Trackit247 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 is measured at the fair value of the consideration received or receivable from the provision of tracking solution services and sale of tracking devices, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the lease term
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trackit247 Limited (Registered number: 06959329)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 114,165 - 56,132
Additions - 14,440 -
At 30 June 2024 114,165 14,440 56,132
DEPRECIATION
At 1 July 2023 10,589 - 40,448
Charge for year 11,416 48 3,137
At 30 June 2024 22,005 48 43,585
NET BOOK VALUE
At 30 June 2024 92,160 14,392 12,547
At 30 June 2023 103,576 - 15,684

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 - 17,661 187,958
Additions 162,750 2,844 180,034
At 30 June 2024 162,750 20,505 367,992
DEPRECIATION
At 1 July 2023 - 11,021 62,058
Charge for year 28,713 4,387 47,701
At 30 June 2024 28,713 15,408 109,759
NET BOOK VALUE
At 30 June 2024 134,037 5,097 258,233
At 30 June 2023 - 6,640 125,900

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 124,681 108,972
Other debtors 19,000 19,000
Prepayments and accrued income 16,008 -
159,689 127,972

Trackit247 Limited (Registered number: 06959329)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 94 95
Trade creditors 40,499 30,639
Tax 178,245 201,693
Social security and other taxes 2,126 2,088
Pension contributions payable 990 534
VAT 78,927 80,612
Other creditors 14,961 6,469
Directors' current accounts 787 163
Accrued expenses 999 -
317,628 322,293

7. CAPITAL COMMITMENTS
30.6.24 30.6.23
£    £   
Contracted but not provided for in the
financial statements 123,120 -