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Registration number: 13891784

Retrace Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Retrace Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Retrace Ltd

Company Information

Directors

L A Carter

N P Carter

Registered office

Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

Accountants

Burton Sweet Limited
Chartered Accountants & Business Advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Retrace Ltd

(Registration number: 13891784)
Balance Sheet
28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

11,469

12,219

Other financial assets

5

56,245

56,245

 

67,714

68,464

Current assets

 

Debtors

6

148,937

224,304

Cash at bank and in hand

 

1,103,892

523,502

 

1,252,829

747,806

Creditors: Amounts falling due within one year

7

(803,143)

(199,522)

Net current assets

 

449,686

548,284

Net assets

 

517,400

616,748

Capital and reserves

 

Called up share capital

100

100

Retained earnings

517,300

616,648

Shareholders' funds

 

517,400

616,748

 

Retrace Ltd

(Registration number: 13891784)
Balance Sheet
28 February 2025

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 August 2025 and signed on its behalf by:
 

.........................................
N P Carter
Director

 

Retrace Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

These financial statements were authorised for issue by the Board on 5 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities and is shown net of value added tax.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Retrace Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% per annum straight line

Plant & Machinery

20% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business and are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Retrace Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are recorded at transaction price. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Retrace Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2024

-

16,296

16,296

Additions

3,669

520

4,189

At 28 February 2025

3,669

16,816

20,485

Depreciation

At 1 March 2024

-

4,077

4,077

Charge for the year

734

4,205

4,939

At 28 February 2025

734

8,282

9,016

Carrying amount

At 28 February 2025

2,935

8,534

11,469

At 29 February 2024

-

12,219

12,219

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 March 2024

56,245

56,245

At 28 February 2025

56,245

56,245

Impairment

Carrying amount

At 28 February 2025

56,245

56,245

 

Retrace Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

6

Debtors

2025
£

2024
£

Trade debtors

98,295

30,184

Other debtors

50,642

194,120

148,937

224,304

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

904

239

Taxation and social security

282,508

198,183

Accruals and deferred income

1,150

1,100

Other creditors

518,581

-

803,143

199,522

8

Related party transactions

Transactions with directors

2025

At 1 March 2024
£

Repayments by director
£

At 28 February 2025
£

Amount owing to the company

194,122

(194,122)

-