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Registered number: 11851286
Trax Land & Water Ltd
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11851286
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 190,179 150,889
190,179 150,889
CURRENT ASSETS
Debtors 5 11,169 8,247
Cash at bank and in hand 47,718 27,291
58,887 35,538
Creditors: Amounts Falling Due Within One Year 6 (84,663 ) (76,645 )
NET CURRENT ASSETS (LIABILITIES) (25,776 ) (41,107 )
TOTAL ASSETS LESS CURRENT LIABILITIES 164,403 109,782
Creditors: Amounts Falling Due After More Than One Year 7 (1,962 ) (9,687 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (30,226 ) (24,622 )
NET ASSETS 132,215 75,473
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 132,115 75,373
SHAREHOLDERS' FUNDS 132,215 75,473
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
George Mohan
Director
25 September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Trax Land & Water Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11851286 . The registered office is Little Oak Farm Timberscombe, Minehead, Somerset, TA24 7UF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are presented in Sterling (£) and have been prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% straight line
2.4. 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.
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 measurement 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.
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2.5. Cash and cash equivalents
Cash and cash equivalents comprise cash in 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.
2.6. Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.7. Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
During the period the average number of employees, excluding directors without an employment contract, was NIL (2024: NIL)
- -
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 1,155 96,594 215,902 1,319 314,970
Additions 20,000 103,032 - - 123,032
Disposals - (13,500 ) (69,500 ) - (83,000 )
As at 31 March 2025 21,155 186,126 146,402 1,319 355,002
Depreciation
As at 1 April 2024 - 46,998 116,576 507 164,081
Provided during the period 1,058 37,188 19,334 296 57,876
Disposals - (9,624 ) (47,510 ) - (57,134 )
As at 31 March 2025 1,058 74,562 88,400 803 164,823
Net Book Value
As at 31 March 2025 20,097 111,564 58,002 516 190,179
As at 1 April 2024 1,155 49,596 99,326 812 150,889
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 10,323 7,957
Prepayments and accrued income 290 290
Other debtors 556 -
11,169 8,247
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6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 6,292 11,387
Bank loans and overdrafts 7,725 7,534
Corporation tax 12,948 5,346
Other taxes and social security 8,511 2,375
Director's loan account 49,187 50,003
84,663 76,645
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,962 9,687
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
The director has provided the company with an interest-free loan, which is repayable on demand. At the balance sheet date the amount due to the director was £49,187 (2024 - £50,003).
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