Registered Number:NI065105 |
For the year ended 31 May 2024
Northern Ireland
Unaudited Financial Statements
For the year ended 31 May 2024
Trace First Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Trace First Limited
Statement of Financial Position
2023
2024
3,436,056
3,436,056
2
Property, plant and equipment |
288,213
283,090
3
3,583,123
4,318,899
8,043,168
7,302,269
177,838
201,664
4
Trade and other receivables |
1,416,997
1,362,712
5
956,738
Cash and cash equivalents |
564,965
2,129,341
2,551,573
Trade and other payables: amounts falling due within one |
year |
(365,747)
(414,212)
6
2,185,826
1,715,129
Net current assets
Total assets less current liabilities |
9,758,297
9,488,095
(14,533)
(10,069)
Provisions for liabilities |
9,743,764
Net assets
9,478,026
52
52
2,900,000
2,796,213
6,843,712
6,681,761
9,743,764
9,478,026
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 May 2024
Trace First Limited
Statement of Financial Position Continued
These financial statements were approved and authorised for issue by the Board on 17 February 2025 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 May 2024
Trace First Limited
Notes to the Financial Statements
Statutory Information
Trace First Limited is a private limited company, limited by shares, domiciled in Northern Ireland, registration number |
NI065105. |
88A Main Street
Moira
County Down
BT67 0LH
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result. |
2. Intangible fixed assets |
3,436,056
3,436,056
3,436,056
3,436,056
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For the year ended 31 May 2024
Trace First Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment |
345,733
64,345
1,941
49,447
230,000
24,527
16,698
7,829
-
-
49,447
9,770
81,043
370,260
230,000
Provision for depreciation and impairment |
62,643
48,626
1,655
12,362
-
Charge for year
19,404
8,104
2,029
9,271
-
82,047
56,730
3,684
21,633
-
230,000
27,814
6,086
24,313
288,213
230,000
37,085
286
15,719
283,090
2023
2024
201,664
177,838
5. Trade and other receivables |
2023
2024
439
737
Amounts owed by group undertakings and participating interests |
1,352,774
1,288,763
9,499
127,497
1,416,997
1,362,712
The debtors above include the following amounts falling due after more than one year: |
Amounts owed by group undertakings and participating interests |
1,352,774
1,288,763
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For the year ended 31 May 2024
Trace First Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year |
2023
2024
1,835
-
Taxation and social security |
187,348
170,453
225,029
195,294
414,212
365,747
7. Average number of persons employed |
During the year the average number of employees was 20 (2023 : 15)
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