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Company registration number: 12782924
THE RETRAC CORPORATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 March 2025
THE RETRAC CORPORATION LIMITED
Contents
Directors report
Accountant's report
Statement of financial position
Notes to the financial statements
THE RETRAC CORPORATION LIMITED
Directors report
Period ended 31 March 2025
The directors present their report and the unaudited financial statements of the company for the period ended 31 March 2025.
Directors
The directors who served the company during the period were as follows:
Mr P J Carter
Mrs L M Carter
Mr C Carter
Mr S P Carter
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 08 July 2025 and signed on behalf of the board by:
Mr P J Carter
Director
THE RETRAC CORPORATION LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of The Retrac Corporation Limited
Period ended 31 March 2025
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the period ended 31 March 2025 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
R M F Pola FCA
Jenemi Associates Limited
2 Low Road
Congham
Kings Lynn
Norfolk
PE32 1AE
8 July 2025
THE RETRAC CORPORATION LIMITED
Statement of financial position
31 March 2025
31/03/25 31/08/24
Note £ £ £ £
Fixed assets
Tangible assets 4 3,057,533 2,169,098
Investments 5 2,000 142,134
_______ _______
3,059,533 2,311,232
Current assets
Debtors 6 2,262,849 1,510,528
Cash at bank and in hand 4,346,973 4,361,209
_______ _______
6,609,822 5,871,737
Creditors: amounts falling due
within one year 7 ( 1,073,572) ( 982,589)
_______ _______
Net current assets 5,536,250 4,889,148
_______ _______
Total assets less current liabilities 8,595,783 7,200,380
_______ _______
Net assets 8,595,783 7,200,380
_______ _______
Capital and reserves
Called up share capital 8 1,000 1,000
Profit and loss account 8,594,783 7,199,380
_______ _______
Shareholders funds 8,595,783 7,200,380
_______ _______
For the period ending 31 March 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 July 2025 , and are signed on behalf of the board by:
Mr P J Carter
Director
Company registration number: 12782924
THE RETRAC CORPORATION LIMITED
Notes to the financial statements
Period ended 31 March 2025
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
3. Tax on profit
Major components of tax expense
Period Year
ended ended
31/03/25 31/08/24
£ £
Current tax:
UK current tax expense 76,137 80,270
_______ _______
Tax on profit 76,137 80,270
_______ _______
4. Tangible assets
Freehold property Total
£ £
Cost
At 1 September 2024 2,169,098 2,169,098
Additions 888,435 888,435
_______ _______
At 31 March 2025 3,057,533 3,057,533
_______ _______
Depreciation
At 1 September 2024 and 31 March 2025 - -
_______ _______
Carrying amount
At 31 March 2025 3,057,533 3,057,533
_______ _______
At 31 August 2024 2,169,098 2,169,098
_______ _______
5. Investments
Shares in group undertakings and participating interests Other investments other than loans Total
£ £ £
Cost
At 1 September 2024 2,000 140,134 142,134
Disposals - ( 140,134) ( 140,134)
_______ _______ _______
At 31 March 2025 2,000 - 2,000
_______ _______ _______
Impairment
At 1 September 2024 and 31 March 2025 - - -
_______ _______ _______
Carrying amount
At 31 March 2025 2,000 - 2,000
_______ _______ _______
At 31 August 2024 2,000 140,134 142,134
_______ _______ _______
6. Debtors
31/03/25 31/08/24
£ £
Trade debtors 65,190 23,885
Amounts owed by group undertakings 2,197,659 1,486,643
_______ _______
2,262,849 1,510,528
_______ _______
7. Creditors: amounts falling due within one year
31/03/25 31/08/24
£ £
Trade creditors 4,473 -
Amounts owed to group undertakings 888,336 888,336
Corporation tax 156,407 80,270
Social security and other taxes 24,356 13,983
_______ _______
1,073,572 982,589
_______ _______
8. Called up share capital
Authorised share capital
2025 2024
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
_______ _______ _______ _______
Issued, called up and fully paid
31/03/25 31/08/24
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
_______ _______ _______ _______