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REGISTERED NUMBER: 06467773 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Tractive Power Limited

Tractive Power Limited (Registered number: 06467773)






Contents of the Financial Statements
for the year ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tractive Power Limited

Company Information
for the year ended 31 January 2025







DIRECTOR: Mr B A Ratcliffe





SECRETARY: Mr B A Ratcliffe





REGISTERED OFFICE: Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL





REGISTERED NUMBER: 06467773 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL

Tractive Power Limited (Registered number: 06467773)

Balance Sheet
31 January 2025

2025 2024
Notes £ £
FIXED ASSETS
Intangible assets 4 3,065 -
Tangible assets 5 465,270 399,243
468,335 399,243

CURRENT ASSETS
Stocks 45,500 50,000
Debtors 6 185,751 81,264
Cash at bank - 49,390
231,251 180,654
CREDITORS
Amounts falling due within one year 7 (143,879 ) (123,709 )
NET CURRENT ASSETS 87,372 56,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

555,707

456,188

CREDITORS
Amounts falling due after more than one year 8 (404,537 ) (387,728 )

PROVISIONS FOR LIABILITIES (26,872 ) -
NET ASSETS 124,298 68,460

CAPITAL AND RESERVES
Called up share capital 8,250 8,250
Revaluation reserve 9 109,298 53,460
Capital redemption reserve 6,750 6,750
124,298 68,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

Tractive Power Limited (Registered number: 06467773)

Balance Sheet - continued
31 January 2025


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 17 April 2025 and were signed by:





Mr B A Ratcliffe - Director


Tractive Power Limited (Registered number: 06467773)

Notes to the Financial Statements
for the year ended 31 January 2025

1. STATUTORY INFORMATION

Tractive Power Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Patents and licences are being amortised evenly over their estimated useful life of 10 years

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 - 15% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - Straight line over the term of the lease
Computer equipment - 15% on reducing balance

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

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
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.

Tractive Power Limited (Registered number: 06467773)

Notes to the Financial Statements - continued
for the year ended 31 January 2025

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
Additions 3,405
At 31 January 2025 3,405
AMORTISATION
Charge for year 340
At 31 January 2025 340
NET BOOK VALUE
At 31 January 2025 3,065

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST OR VALUATION
At 1 February 2024 342,917 150,692 -
Additions - 4,580 1,220
Reclassification/transfer - (14,411 ) 3,142
At 31 January 2025 342,917 140,861 4,362
DEPRECIATION
At 1 February 2024 20,000 148,170 -
Charge for year - 697 375
Reclassification/transfer - (12,144 ) 2,098
At 31 January 2025 20,000 136,723 2,473
NET BOOK VALUE
At 31 January 2025 322,917 4,138 1,889
At 31 January 2024 322,917 2,522 -

Tractive Power Limited (Registered number: 06467773)

Notes to the Financial Statements - continued
for the year ended 31 January 2025

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£ £ £
COST OR VALUATION
At 1 February 2024 81,940 - 575,549
Additions 72,450 2,204 80,454
Reclassification/transfer - 11,108 (161 )
At 31 January 2025 154,390 13,312 655,842
DEPRECIATION
At 1 February 2024 8,136 - 176,306
Charge for year 12,204 990 14,266
Reclassification/transfer - 10,046 -
At 31 January 2025 20,340 11,036 190,572
NET BOOK VALUE
At 31 January 2025 134,050 2,276 465,270
At 31 January 2024 73,804 - 399,243

Cost or valuation at 31 January 2025 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Valuation in 2024 342,917 140,861 4,362

Motor Computer
vehicles equipment Totals
£ £ £
Valuation in 2024 154,390 13,312 655,842

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST OR VALUATION
At 1 February 2024 81,940
Additions 72,450
At 31 January 2025 154,390
DEPRECIATION
At 1 February 2024 8,136
Charge for year 12,204
At 31 January 2025 20,340
NET BOOK VALUE
At 31 January 2025 134,050
At 31 January 2024 73,804

Tractive Power Limited (Registered number: 06467773)

Notes to the Financial Statements - continued
for the year ended 31 January 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 162,008 73,306
Other debtors 23,743 7,958
185,751 81,264

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Bank loans and overdrafts 28,517 199
Hire purchase contracts 24,096 11,954
Trade creditors 66,525 95,592
Taxation and social security 15,903 10,566
Other creditors 8,838 5,398
143,879 123,709

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£ £
Bank loans 281,621 326,711
Hire purchase contracts 122,916 61,017
404,537 387,728

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 5,777

9. RESERVES
Revaluation
reserve
£
At 1 February 2024 53,460
Transfer 55,838

At 31 January 2025 109,298