2023-06-01 NI065105 2024-05-31 NI065105 2023-06-01 2024-05-31 NI065105 2023-05-31 NI065105 2022-06-01 2023-05-31 NI065105 uk-core:WithinOneYear 2023-05-31 NI065105 uk-core:WithinOneYear 2024-05-31 NI065105 uk-core:ShareCapital 2024-05-31 NI065105 uk-core:ShareCapital 2023-05-31 NI065105 uk-core:InvestmentPropertiesRevaluationReserve 2024-05-31 NI065105 uk-core:InvestmentPropertiesRevaluationReserve 2023-05-31 NI065105 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI065105 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI065105 uk-bus:Director1 2023-06-01 2024-05-31 NI065105 uk-bus:Director2 2023-06-01 2024-05-31 NI065105 uk-core:OfficeEquipment 2023-06-01 2024-05-31 NI065105 uk-core:FurnitureFittings 2023-06-01 2024-05-31 NI065105 uk-core:LicencesFranchises 2023-05-31 NI065105 uk-core:LicencesFranchises 2024-05-31 NI065105 uk-core:OfficeEquipment 2023-05-31 NI065105 uk-core:FurnitureFittings 2023-05-31 NI065105 uk-core:MotorCars 2023-05-31 NI065105 uk-core:Buildings 2023-05-31 NI065105 uk-core:MotorCars 2023-06-01 2024-05-31 NI065105 uk-core:Buildings 2023-06-01 2024-05-31 NI065105 uk-core:MotorCars 2024-05-31 NI065105 uk-core:FurnitureFittings 2024-05-31 NI065105 uk-core:OfficeEquipment 2024-05-31 NI065105 uk-core:Buildings 2024-05-31 NI065105 uk-core:AfterOneYear 2024-05-31 NI065105 uk-core:AfterOneYear 2023-05-31 iso4217:GBP xbrli:pure NI065105 uk-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 NI065105 uk-bus:FRS102 2023-06-01 2024-05-31 NI065105 uk-bus:FilletedAccounts 2023-06-01 2024-05-31 NI065105 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31
Trace First Limited
Registered Number:NI065105
For the year ended 31 May 2024
Northern Ireland
Unaudited Financial Statements
2
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
3
Registered Number :
NI065105
As at 31 May 2024
Trace First Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
3,436,056
3,436,056
2
Property, plant and equipment
288,213
283,090
3
Financial assets
3,583,123
4,318,899
8,043,168
7,302,269
Current assets
Inventories
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
Capital and reserves
Called up share capital
52
52
Fair value reserve
2,900,000
2,796,213
Retained earnings
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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4
Registered Number :
NI065105
For the year ended 31 May 2024
Trace First Limited
Statement of Financial Position Continued
Mr Brian Morrow Director
Mrs Anne Morrow Director
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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5
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.
Registered address:
88A Main Street
Moira
County Down
BT67 0LH
The presentation currency is £ sterling.
1. Accounting policies
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:
25 Reducing balance
Computer Equipment
25 Reducing balance
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
Other
Intangible
Assets
Cost or valuation
£
At 01 June 2023
3,436,056
At 31 May 2024
3,436,056
Net book value
At 31 May 2024
3,436,056
At 31 May 2023
3,436,056
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6
For the year ended 31 May 2024
Trace First Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Motor
Vehicles
Land and
Buildings
£
£
£
£
£
Cost or
valuation
At 01 June 2023
345,733
64,345
1,941
49,447
230,000
24,527
16,698
7,829
-
-
Additions
At 31 May 2024
49,447
9,770
81,043
370,260
230,000
Provision for depreciation and impairment
At 01 June 2023
62,643
48,626
1,655
12,362
-
Charge for year
19,404
8,104
2,029
9,271
-
At 31 May 2024
82,047
56,730
3,684
21,633
-
At 31 May 2024
Net book value
230,000
27,814
6,086
24,313
288,213
At 31 May 2023
230,000
37,085
286
15,719
283,090
4. Inventories
2023
2024
£
£
Stocks
201,664
177,838
5. Trade and other receivables
2023
2024
£
£
Trade debtors
439
737
Amounts owed by group undertakings and participating interests
1,352,774
1,288,763
Other debtors
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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7
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
£
£
Trade creditors
1,835
-
Taxation and social security
187,348
170,453
Other creditors
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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