Silverfin false false 31/12/2024 01/11/2023 31/12/2024 Katsue Ikeda 01/05/2022 Dr Robert Steven Ogden 17/10/2006 28 July 2025 The principal activity of the Company in the year was that of promoting the use of forensic science in wildlife law enforcement. 05969048 2024-12-31 05969048 bus:Director1 2024-12-31 05969048 bus:Director2 2024-12-31 05969048 2023-10-31 05969048 core:CurrentFinancialInstruments 2024-12-31 05969048 core:CurrentFinancialInstruments 2023-10-31 05969048 core:RetainedEarningsAccumulatedLosses 2024-12-31 05969048 core:RetainedEarningsAccumulatedLosses 2023-10-31 05969048 core:OtherPropertyPlantEquipment 2023-10-31 05969048 core:OtherPropertyPlantEquipment 2024-12-31 05969048 2023-11-01 2024-12-31 05969048 bus:FilletedAccounts 2023-11-01 2024-12-31 05969048 bus:SmallEntities 2023-11-01 2024-12-31 05969048 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-12-31 05969048 bus:CompanyLimitedByGuarantee 2023-11-01 2024-12-31 05969048 bus:Director1 2023-11-01 2024-12-31 05969048 bus:Director2 2023-11-01 2024-12-31 05969048 core:OtherPropertyPlantEquipment 2023-11-01 2024-12-31 05969048 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Company No: 05969048 (England and Wales)

TRACE WILDLIFE FORENSICS NETWORK LTD

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 NOVEMBER 2023 TO 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

TRACE WILDLIFE FORENSICS NETWORK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 NOVEMBER 2023 TO 31 DECEMBER 2024

Contents

TRACE WILDLIFE FORENSICS NETWORK LTD

BALANCE SHEET

AS AT 31 DECEMBER 2024
TRACE WILDLIFE FORENSICS NETWORK LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 31.12.2024 31.10.2023
£ £
Fixed assets
Tangible assets 3 1,935 2,524
1,935 2,524
Current assets
Debtors 4 258,823 386,716
Cash at bank and in hand 656,637 688,513
915,460 1,075,229
Creditors: amounts falling due within one year 5 ( 178,003) ( 208,186)
Net current assets 737,457 867,043
Total assets less current liabilities 739,392 869,567
Provision for liabilities 0 3,892
Net assets 739,392 873,459
Reserves
Retained earnings 739,392 873,459
Total reserves 739,392 873,459

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Trace Wildlife Forensics Network Ltd (registered number: 05969048) were approved and authorised for issue by the Board of Directors on 28 July 2025. They were signed on its behalf by:

Dr Robert Steven Ogden
Director
TRACE WILDLIFE FORENSICS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 NOVEMBER 2023 TO 31 DECEMBER 2024
TRACE WILDLIFE FORENSICS NETWORK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 NOVEMBER 2023 TO 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Trace Wildlife Forensics Network Ltd (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Johnston Carmichael Birchin Court, 20 Birchin Lane, London, EC3V 9DU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

Despite the loss incurred in the year, the company has maintained a positive net assets position.

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length of these financial statements is 14 months compared to the prior period which covered 12 months. The reason for this is to bring the financial year end in line with the reporting period for grant funders. The comparative amounts presented in the financial statements are therefore not entirely comparable.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for wildlife forensic science services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

Period from
01.11.2023 to
31.12.2024
Year ended
31.10.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 15 18

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 4,407 4,407
At 31 December 2024 4,407 4,407
Accumulated depreciation
At 01 November 2023 1,883 1,883
Charge for the financial period 589 589
At 31 December 2024 2,472 2,472
Net book value
At 31 December 2024 1,935 1,935
At 31 October 2023 2,524 2,524

4. Debtors

31.12.2024 31.10.2023
£ £
Deferred tax asset 7,567 0
Corporation tax 29,519 0
Other debtors 221,737 386,716
258,823 386,716

5. Creditors: amounts falling due within one year

31.12.2024 31.10.2023
£ £
Trade creditors 0 24,854
Taxation and social security 0 102,197
Other creditors 178,003 81,135
178,003 208,186

6. Liability of members

The members of the Trace Wildlife Forensics Network Ltd have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.