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REGISTERED NUMBER: 08047125 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

TRACE DESIGN CONSULTANTS LTD

TRACE DESIGN CONSULTANTS LTD (REGISTERED NUMBER: 08047125)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRACE DESIGN CONSULTANTS LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M J Brady





REGISTERED OFFICE: Ground Floor, 3 Silverdown Office Park
Fair Oak Close
Clyst Honiton
Exeter
Devon
EX5 2UX





REGISTERED NUMBER: 08047125 (England and Wales)





ACCOUNTANTS: Gravita Western Limited
3 Southernhay West
Exeter
Devon
EX1 1JG

TRACE DESIGN CONSULTANTS LTD (REGISTERED NUMBER: 08047125)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 2,077 2,596

CURRENT ASSETS
Stocks 246,799 343,363
Debtors 6 364,439 405,749
Cash at bank 1 -
611,239 749,112
CREDITORS
Amounts falling due within one year 7 (584,820 ) (527,283 )
NET CURRENT ASSETS 26,419 221,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,496

224,425

CREDITORS
Amounts falling due after more than one
year

8

(30,624

)

(41,521

)

PROVISIONS FOR LIABILITIES (520 ) (649 )
NET (LIABILITIES)/ASSETS (2,648 ) 182,255

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,748 ) 182,155
(2,648 ) 182,255

TRACE DESIGN CONSULTANTS LTD (REGISTERED NUMBER: 08047125)

Balance Sheet - continued
31 MARCH 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2025 and were signed by:





M J Brady - Director


TRACE DESIGN CONSULTANTS LTD (REGISTERED NUMBER: 08047125)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. COMPANY INFORMATION

Trace Design Consultants Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost convention.

Going concern
At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. It also has the continued support of the director. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents amounts chargeable in respect of the sale of services to customers net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office furniture and equipment - 20% on reducing balance

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


TRACE DESIGN CONSULTANTS LTD (REGISTERED NUMBER: 08047125)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Office
furniture
and
equipment
£   
COST
At 1 April 2023
and 31 March 2024 5,714
DEPRECIATION
At 1 April 2023 3,118
Charge for year 519
At 31 March 2024 3,637
NET BOOK VALUE
At 31 March 2024 2,077
At 31 March 2023 2,596

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,115 52,891
Other debtors 337,324 352,858
364,439 405,749

TRACE DESIGN CONSULTANTS LTD (REGISTERED NUMBER: 08047125)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 27,248 23,400
Trade creditors 97,502 46,806
Taxation and social security 269,178 301,434
Other creditors 190,892 155,643
584,820 527,283

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 9,042 16,580
Other creditors 21,582 24,941
30,624 41,521

9. LOANS

Included within Creditors: Amounts falling due within one year are various loans totalling £68,240, of which amounts totalling £63,909 are personally guaranteed by the director.

Included within Creditors: Amounts falling due after one year are various loans totalling £21,582, all of which are personally guaranteed by the director.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M J Brady
Balance outstanding at start of year 268,788 (255 )
Amounts advanced 61,974 293,394
Amounts repaid (83,052 ) (24,351 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 247,710 268,788

Interest has been charged on the loan at the official rate. The loan is repayable on demand.

TRACE DESIGN CONSULTANTS LTD (REGISTERED NUMBER: 08047125)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. RELATED PARTY DISCLOSURES

Related company (under common control)

Included in Creditors: Amounts falling due within one year is a loan in favour of a related company amounting to £118,332 (2023: £119,987). The loan is interest free and repayable on demand.

Related party (close relative to Director)

Included within Debtors: Amounts falling due within one year is a loan in favour of the company amounting to £4,113 (2023: £3,863). The loan is interest free and repayable on demand.