IRIS Accounts Production v24.3.2.46 05137591 director 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh051375912023-05-31051375912024-05-31051375912023-06-012024-05-31051375912022-05-31051375912022-06-012023-05-31051375912023-05-3105137591ns15:EnglandWales2023-06-012024-05-3105137591ns14:PoundSterling2023-06-012024-05-3105137591ns10:Director12023-06-012024-05-3105137591ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3105137591ns10:SmallEntities2023-06-012024-05-3105137591ns10:AuditExemptWithAccountantsReport2023-06-012024-05-3105137591ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3105137591ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3105137591ns10:FullAccounts2023-06-012024-05-3105137591ns10:OrdinaryShareClass12023-06-012024-05-3105137591ns10:CompanySecretary12023-06-012024-05-3105137591ns10:RegisteredOffice2023-06-012024-05-3105137591ns5:CurrentFinancialInstruments2024-05-3105137591ns5:CurrentFinancialInstruments2023-05-3105137591ns5:Non-currentFinancialInstruments2024-05-3105137591ns5:Non-currentFinancialInstruments2023-05-3105137591ns5:ShareCapital2024-05-3105137591ns5:ShareCapital2023-05-3105137591ns5:RetainedEarningsAccumulatedLosses2024-05-3105137591ns5:RetainedEarningsAccumulatedLosses2023-05-3105137591ns5:PlantMachinery2023-06-012024-05-3105137591ns5:PlantMachinery2023-05-3105137591ns5:PlantMachinery2024-05-3105137591ns5:PlantMachinery2023-05-3105137591ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3105137591ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3105137591ns5:WithinOneYearns5:HirePurchaseContracts2024-05-3105137591ns5:WithinOneYearns5:HirePurchaseContracts2023-05-3105137591ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-05-3105137591ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-05-3105137591ns5:HirePurchaseContracts2024-05-3105137591ns5:HirePurchaseContracts2023-05-3105137591ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-05-3105137591ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-05-3105137591ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 05137591 (England and Wales)















TRACTECH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






TRACTECH LIMITED (REGISTERED NUMBER: 05137591)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5

Accountants' Report 6

TRACTECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: C R Wright





SECRETARY: Mrs T W Chance





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: 7 Westover Road
Kettering
Northamptonshire
NN15 7LB





REGISTERED NUMBER: 05137591 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

TRACTECH LIMITED (REGISTERED NUMBER: 05137591)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,738 53,190

CURRENT ASSETS
Stocks 15,000 23,400
Debtors 5 192,616 128,081
Cash at bank 315 -
207,931 151,481
CREDITORS
Amounts falling due within one year 6 214,551 166,078
NET CURRENT LIABILITIES (6,620 ) (14,597 )
TOTAL ASSETS LESS CURRENT LIABILITIES 54,118 38,593

CREDITORS
Amounts falling due after more than one year 7 (21,601 ) (23,120 )

PROVISIONS FOR LIABILITIES (8,337 ) (8,783 )
NET ASSETS 24,180 6,690

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 24,080 6,590
SHAREHOLDERS' FUNDS 24,180 6,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

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 director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2025 and were signed by:





C R Wright - Director


TRACTECH LIMITED (REGISTERED NUMBER: 05137591)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Tractech 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

TRACTECH LIMITED (REGISTERED NUMBER: 05137591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 252,906
Additions 23,890
At 31 May 2024 276,796
DEPRECIATION
At 1 June 2023 199,716
Charge for year 16,342
At 31 May 2024 216,058
NET BOOK VALUE
At 31 May 2024 60,738
At 31 May 2023 53,190

The net book value of tangible fixed assets includes £ 35,460 (2023 - £ 21,031 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 138,622 73,035
Other debtors 53,994 55,046
192,616 128,081

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 2,270
Hire purchase contracts (see note 8) 15,124 14,440
Trade creditors 9,539 6,888
Taxation and social security 51,913 75,500
Other creditors 137,975 66,980
214,551 166,078

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 11,601 3,120
Other creditors 10,000 20,000
21,601 23,120

TRACTECH LIMITED (REGISTERED NUMBER: 05137591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 17,287 15,578
Between one and five years 12,816 3,193
30,103 18,771

Finance charges repayable:
Within one year 2,163 1,138
Between one and five years 1,215 73
3,378 1,211

Net obligations repayable:
Within one year 15,124 14,440
Between one and five years 11,601 3,120
26,725 17,560

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 26,725 17,560

The hire purchase liabilities are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

At the year end date, the company owed C Wright £24,508 (2023: £28,094).

The loans made from the directors are unsecured, interest free and repayable on demand.

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TRACTECH LIMITED

The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Tractech Limited for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Tractech Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tractech Limited and state those matters that we have agreed to state to the director of Tractech Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Tractech 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 Tractech Limited. You consider that Tractech 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 Tractech 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.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


Date: .............................................