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REGISTERED NUMBER: 12110047 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

On Track Group Ltd

On Track Group Ltd (Registered number: 12110047)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


On Track Group Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: S T Austin





REGISTERED OFFICE: 4th Floor 14 Museum Place
City Centre
Cardiff
CF10 3BH





REGISTERED NUMBER: 12110047 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
SE19 3RW

On Track Group Ltd (Registered number: 12110047)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 155,841 60,795
Investments 5 20,051 10,051
Investment property 6 21,729 21,729
197,621 92,575

CURRENT ASSETS
Stocks 1,519,584 941,334
Debtors 7 1,270,726 987,612
Cash at bank 610,392 693,397
3,400,702 2,622,343
CREDITORS
Amounts falling due within one year 8 (1,304,467 ) (1,278,016 )
NET CURRENT ASSETS 2,096,235 1,344,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,293,856

1,436,902

CREDITORS
Amounts falling due after more than one
year

9

(20,918

)

(23,339

)
NET ASSETS 2,272,938 1,413,563

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,272,937 1,413,562
2,272,938 1,413,563

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

On Track Group Ltd (Registered number: 12110047)

Balance Sheet - continued
31 July 2024


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 7 April 2025 and were signed by:





S T Austin - Director


On Track Group Ltd (Registered number: 12110047)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

On Track Group 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. 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, fixtures and fittings and motor vehicles are all depreciated using 25% reducing balance method.

Computer equipment is depreciated over 3 years straight line.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


On Track Group Ltd (Registered number: 12110047)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. 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.

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.

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.

Group financial statements
Exemption has been taken from preparing group financial statements on the grounds that the group qualifies as a small group. The financial statements present information about the company as an individual undertaking and not about its group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

On Track Group Ltd (Registered number: 12110047)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 89,043
Additions 139,209
Disposals (27,075 )
At 31 July 2024 201,177
DEPRECIATION
At 1 August 2023 28,248
Charge for year 29,273
Eliminated on disposal (12,185 )
At 31 July 2024 45,336
NET BOOK VALUE
At 31 July 2024 155,841
At 31 July 2023 60,795

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023 38,704
Additions 59,850
At 31 July 2024 98,554
DEPRECIATION
At 1 August 2023 12,269
Charge for year 18,786
At 31 July 2024 31,055
NET BOOK VALUE
At 31 July 2024 67,499
At 31 July 2023 26,435

On Track Group Ltd (Registered number: 12110047)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023 10,051
Additions 10,000
At 31 July 2024 20,051
NET BOOK VALUE
At 31 July 2024 20,051
At 31 July 2023 10,051

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 21,729
NET BOOK VALUE
At 31 July 2024 21,729
At 31 July 2023 21,729

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 1,109,422 707,837
Amounts owed by group undertakings 18,000 -
Other debtors 143,304 279,775
1,270,726 987,612

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 21,667 31,667
Hire purchase contracts 38,054 9,260
Trade creditors 286,392 177,540
Taxation and social security 488,160 524,577
Other creditors 470,194 534,972
1,304,467 1,278,016

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 20,918 23,339

On Track Group Ltd (Registered number: 12110047)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Hire purchase contracts 58,972 32,599

Amounts owing on hire purchase contracts are secured on the individual assets to which they relate.