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REGISTERED NUMBER: 08326087 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Trackline Ltd

Trackline Ltd (Registered number: 08326087)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Trackline Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: B P O'Connell





REGISTERED OFFICE: 20-21 Burlington House
369 Wellingborough Road
Northampton
NN1 4EU





REGISTERED NUMBER: 08326087 (England and Wales)





ACCOUNTANTS: Harris & Co
Chartered Accountants
2 Pavilion Court
600 Pavilion Drive
Northampton
NN4 7SL

Trackline Ltd (Registered number: 08326087)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 24,844 34,148

CURRENT ASSETS
Stocks 5 992,312 1,019,021
Debtors 6 432,078 592,140
Cash at bank 3,564 603
1,427,954 1,611,764
CREDITORS
Amounts falling due within one year 7 (1,028,571 ) (1,246,154 )
NET CURRENT ASSETS 399,383 365,610
TOTAL ASSETS LESS CURRENT LIABILITIES 424,227 399,758

CREDITORS
Amounts falling due after more than one
year

8

(12,450

)

(22,373

)
NET ASSETS 411,777 377,385

CAPITAL AND RESERVES
Called up share capital 50,100 50,100
Retained earnings 361,677 327,285
SHAREHOLDERS' FUNDS 411,777 377,385

Trackline Ltd (Registered number: 08326087)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2025 and were signed by:





B P O'Connell - Director


Trackline Ltd (Registered number: 08326087)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Trackline 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.

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.

Turnover is recognised when the goods have been received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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

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.

Trackline Ltd (Registered number: 08326087)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Invoice discounting
The company operates an invoice discounting facility with RBS Invoice Finance Limited. Under the terms of the agreement, the company has adopted the treatment of separate presentation as this best reflects the terms of the agreement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 1,989 84,087 6,300 92,376
Additions - 1,907 - 1,907
At 30 April 2024 1,989 85,994 6,300 94,283
DEPRECIATION
At 1 May 2023 1,550 50,378 6,300 58,228
Charge for year 156 11,055 - 11,211
At 30 April 2024 1,706 61,433 6,300 69,439
NET BOOK VALUE
At 30 April 2024 283 24,561 - 24,844
At 30 April 2023 439 33,709 - 34,148

5. STOCKS
2024 2023
£    £   
Stocks 992,312 1,019,021

Trackline Ltd (Registered number: 08326087)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 344,658 511,199
Amounts owed by connected companies 87,082 74,697
Prepayments and accrued income 338 6,244
432,078 592,140

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Other loans (see note 9) - 21,875
Factoring 228,431 382,200
Trade creditors 280,758 297,218
Amounts owed to connected companies 126,332 122,832
Social security and other taxes 10,897 6,419
VAT 227,306 229,070
Other creditors (3,343 ) (7,322 )
Directors' current accounts 147,440 183,487
Accrued expenses 750 375
1,028,571 1,246,154

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 12,450 22,373

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Other loans - 21,875
10,000 31,875

Amounts falling due between two and five years:
Bank loans - 2-5 years 12,450 22,373

Trackline Ltd (Registered number: 08326087)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Factoring 228,431 382,200

The 'factoring' shown above is secured by a fixed and floating charge dated 23 April 2013 in respect of RBS Invoice Finance Limited.

11. ULTIMATE CONTROLLING PARTY

The controlling party is B P O'Connell.