Technotrack Engineering Limited Filleted Accounts Cover
Technotrack Engineering Limited
Company No. 08287273
Information for Filing with The Registrar
30 September 2024
Technotrack Engineering Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 30 September 2024.
Principal activities
The principal activity of the company during the year under review was . the supply of labour and services to the railway industry having obtained the appropriate railway safety accreditation.
Business Review
The improved results are considered satisfactory.
Directors
The Directors who served at any time during the year were as follows:
C. Finlayson
C. Stutter
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
C. Finlayson
Director
08 May 2025
Technotrack Engineering Limited Balance Sheet Registrar
at
30 September 2024
Company No.
08287273
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
188,625164,800
188,625164,800
Current assets
Stocks
5
-7,569
Debtors
6
492,210484,572
Cash at bank and in hand
17,7525,419
509,962497,560
Creditors: Amount falling due within one year
7
(322,492)
(366,557)
Net current assets
187,470131,003
Total assets less current liabilities
376,095295,803
Creditors: Amounts falling due after more than one year
8
(126,759)
(115,135)
Provisions for liabilities
Deferred taxation
(47,156)
(31,312)
Net assets
202,180149,356
Capital and reserves
Called up share capital
123123
Profit and loss account
10
202,057149,233
Total equity
202,180149,356
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 08 May 2025 and signed on its behalf by:
C. Finlayson
Director
08 May 2025
Technotrack Engineering Limited Notes to the Accounts Registrar
for the year ended 30 September 2024
1
General information
Technotrack Engineering Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 08287273
Its registered office is:
Unit 33
Maitland Rd. Lion Barn I.Est
Needham Market
Ipswich, Suffolk
IP6 8NZ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover includes revenue earned from the sale of goods and from the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods transferred to the buyer.

Turnover from the rendering of services is recognised by reference to the stage of completion of the
contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
20/33% straight line
Motor vehicles
25% written down value
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
2323
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost or revaluation
At 1 October 2023
25,791289,138314,929
Additions
1,67777,69579,372
Disposals
-
(35,045)
(35,045)
At 30 September 2024
27,468331,788359,256
Depreciation
At 1 October 2023
20,712129,417150,129
Charge for the year
4,57044,14448,714
Disposals
-
(28,212)
(28,212)
At 30 September 2024
25,282145,349170,631
Net book values
At 30 September 2024
2,186186,439188,625
At 30 September 2023
5,079
159,721
164,800
5
Stocks
2024
2023
£
£
Raw materials and consumables
-7,569
-7,569
6
Debtors
2024
2023
£
£
Trade debtors
305,959295,934
VAT recoverable
13,469-
Other debtors
30,66934,073
Prepayments and accrued income
142,113154,565
492,210484,572
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,00010,000
Other loans
69,672108,238
Obligations under finance lease and hire purchase contracts
65,24367,369
Trade creditors
81,70569,205
Taxes and social security
8,189
37,932
Loans from directors
18,8112,617
Other creditors
15,53719,544
Accruals and deferred income
53,33551,652
322,492366,557
The company has entered into a factoring agreement and the amounts owed are secured on the trade debtors of the company.
8
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,66716,667
Other loans
-499
Obligations under finance lease and hire purchase contracts
120,09297,969
126,759115,135
9
Share Capital
Share capital consists of ordinary £1 shares, each carrying rights to voting and dividends.
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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