REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Expotrak Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Expotrak Limited |
Expotrak Limited (Registered number: 01016283) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Expotrak Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 1 |
The Riverside Building |
Hessle |
East Yorkshire |
HU13 0DZ |
Expotrak Limited (Registered number: 01016283) |
Balance Sheet |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Expotrak Limited (Registered number: 01016283) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Expotrak Limited (Registered number: 01016283) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Expotrak Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include: |
Estimation uncertainty on useful lives of depreciable assets |
The carrying value of depreciable assets, £1,653,150, requires the directors to make an estimate |
of the assets' useful economic lives and undertake an annual review for impairment. The estimated lives applied are detailed in the accounting policy note. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes. |
The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; it is probable that future economic benefits will flow to the entity and when the specific criteria relating to each of the company's sales channels have been met, as described below. |
The company provides goods and services to other organisations, these services are provided on a time and material basis or as a fixed price contract. |
Tangible fixed assets |
Freehold property | - |
Winestead | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Station Hotel | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value. |
Expotrak Limited (Registered number: 01016283) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Impairment of assets |
At each reporting date non-financial assets, such as tangible fixed assets, are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared to the carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in the profit and loss account. |
Financial instruments |
Financial Instruments which meet the criteria of a basic financial instrument as defined in Section 11 of FRS102 are accounted for under the amortised historic cost model. |
Non-basic financial instruments are recognised at fair value using a valuation technique with any gains or losses reported in surplus or deficit. At each year end, the instruments are revalued to fair value, with the movements posted to the income and expenditure account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Expotrak Limited (Registered number: 01016283) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | Winestead | property | machinery |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Fixtures |
and | Motor | Station |
fittings | vehicles | Hotel | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Expotrak Limited (Registered number: 01016283) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2024 is represented by: |
Improvements |
Freehold | to | Plant and |
property | Winestead | property | machinery |
£ | £ | £ | £ |
Valuation in 1994 | 143,530 | - | - | - |
Valuation in 1996 | 170,000 | - | - | - |
Valuation in 2008 | (145,000 | ) | - | - | - |
Valuation in 2019 | 299,938 | 182,595 | 23,688 | 1,210,055 |
Valuation in 2020 | - | - | - | 111,190 |
Valuation in 2021 | - | - | - | 207,418 |
Valuation in 2022 | - | - | - | 328,334 |
Valuation in 2023 | - | - | - | 37,324 |
Valuation in 2024 | - | - | - | 60,865 |
468,468 | 182,595 | 23,688 | 1,955,186 |
Fixtures |
and | Motor | Station |
fittings | vehicles | Hotel | Totals |
£ | £ | £ | £ |
Valuation in 1994 | - | - | - | 143,530 |
Valuation in 1996 | - | - | - | 170,000 |
Valuation in 2008 | - | - | - | (145,000 | ) |
Valuation in 2019 | 38,460 | 286,532 | 629,460 | 2,670,728 |
Valuation in 2020 | - | 124,960 | - | 236,150 |
Valuation in 2021 | - | 88,265 | - | 295,683 |
Valuation in 2022 | - | 51,250 | - | 379,584 |
Valuation in 2023 | - | 6,852 | - | 44,176 |
Valuation in 2024 | - | 63,890 | - | 124,755 |
38,460 | 621,749 | 629,460 | 3,919,606 |
If Freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 299,938 | 299,938 |
Freehold property (Patrington) was valued on an open market value basis on 2 April 1996 by Penrose Pearce Hodges, surveyors. . |
Valuation in 1994 includes a valuation in 1989 of £88,530. |
Expotrak Limited (Registered number: 01016283) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | STOCKS |
2024 | 2023 |
£ | £ |
Goods for resale |
Work-in-progress |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2024 |
and 31 December 2024 |
9. | RELATED PARTY DISCLOSURES |
Included in other creditors is a credit amount of £20,091 (2023: £22,897) due to Seathorn Construction Services Limited a company in which A Hupper is a director and shareholder. |
Also included in debtors is an amount owed to the director A Hupper of £50,120 (2023: £15,277). |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr A Hupper. |