Company Registration No. 02953015 (England and Wales)
Trak Limited
Unaudited accounts
for the year ended 31 July 2024
Trak Limited
Unaudited accounts
Contents
Trak Limited
Company Information
for the year ended 31 July 2024
Directors
Scott Nicholson
Mark Nicholson
Company Number
02953015 (England and Wales)
Registered Office
Chamber Furniture
The Old Timber Yard
London Road, Halstead
Sevenoaks
Kent
TN14 7DZ
England
Trak Limited
Statement of financial position
as at 31 July 2024
Tangible assets
523,501
550,353
Inventories
474,138
437,437
Cash at bank and in hand
50,074
59,980
Creditors: amounts falling due within one year
(690,124)
(1,081,032)
Net current assets
774,658
464,393
Total assets less current liabilities
1,298,159
1,014,746
Creditors: amounts falling due after more than one year
(814,662)
(593,972)
Provisions for liabilities
Deferred tax
(12,630)
(28,520)
Net assets
470,867
392,254
Called up share capital
10,003
10,003
Profit and loss account
460,864
382,251
Shareholders' funds
470,867
392,254
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by
Scott Nicholson
Director
Company Registration No. 02953015
Trak Limited
Notes to the Accounts
for the year ended 31 July 2024
Trak Limited is a private company, limited by shares, registered in England and Wales, registration number 02953015. The registered office is Chamber Furniture, The Old Timber Yard, London Road, Halstead, Sevenoaks, Kent, TN14 7DZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 August 2023
273,249
560,539
334,560
277,963
304,414
1,750,725
Additions
-
9,233
-
-
13,390
22,623
At 31 July 2024
273,249
569,772
334,560
277,963
317,804
1,773,348
At 1 August 2023
-
479,123
194,275
270,473
256,501
1,200,372
Charge for the year
-
13,920
29,716
1,250
4,589
49,475
At 31 July 2024
-
493,043
223,991
271,723
261,090
1,249,847
At 31 July 2024
273,249
76,729
110,569
6,240
56,714
523,501
At 31 July 2023
273,249
81,416
140,285
7,490
47,913
550,353
Trak Limited
Notes to the Accounts
for the year ended 31 July 2024
Amounts falling due within one year
Trade debtors
199,528
266,299
Amounts due from group undertakings etc.
388,860
388,860
Accrued income and prepayments
78,112
118,779
Other debtors
274,070
274,070
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
242,584
131,587
Obligations under finance leases and hire purchase contracts
34,479
49,055
Trade creditors
249,703
270,013
Taxes and social security
82,242
145,497
7
Creditors: amounts falling due after more than one year
2024
2023
Deferred income
814,662
593,429
8
Average number of employees
During the year the average number of employees was 38 (2023: 38).