Company registration number 07108291 (England and Wales)
DTRACKS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DTRACKS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DTRACKS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
514,609
506,273
Cash at bank and in hand
373,460
312,326
888,069
818,599
Creditors: amounts falling due within one year
5
(756,492)
(706,204)
Net current assets
131,577
112,395
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
131,576
112,394
Total equity
131,577
112,395
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 20 January 2025 and are signed on its behalf by:
Harish Kunthu Chandrasekaran
Director
Company Registration No. 07108291
DTRACKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
DTracks Limited is a private company limited by shares incorporated in England and Wales. The registered address is: Belgrave House, 39-43 Monument Hill, Weybridge, Surrey, KT13 8RN.
1.1
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. As part of making the above assessment the directors have considered the impact of the current economic conditions both on the company and its wider group and consider the going concern basis to be appropriate.
1.3
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 rendering of services. Turnover is reduced for estimated rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4
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 statement of comprehensive income because of items of income or expense that are taxable or deductible in other year 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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.
DTRACKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurment of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
1.5
Foreign Currency Accounting Policy
Foreign currency transactions are translated initially in sterling pounds using the rate on the date in which the transactions takes place. Foreign currency monetary items are subsequently translated into sterling pounds at the exchange rate applicable at the end of the reporting period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
3
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
8,000
7,700
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
511,341
505,485
Prepayments and accrued income
3,268
788
514,609
506,273
DTRACKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,183
347
Amounts owed to group undertakings
271,519
392,579
Corporation tax
43,061
33,754
VAT
308,647
223,964
Accruals and deferred income
121,082
55,560
756,492
706,204
6
Called up share capital
2024
2023
£
£
Allotted, Called up and fully paid
1
1
7
Ultimate Controlling Party
The company's ultimate controlling party is DataTracks Global Private Limited by virtue of its ownership of 100% of the issued share capital in the company.
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
The senior statutory auditor was Frank Harling and the auditor was Ward Williams.