REGISTERED NUMBER: 06277731 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

TRACK IT NOW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

AC Tomalin

C D Simms

REGISTERED OFFICE:

Portland House

11-13 Station Road

Kettering

Northamptonshire

NN15 7HH

REGISTERED NUMBER:

06277731 (England and Wales)

ACCOUNTANTS:

Bewers Turner & Co LLP

Chartered Accountants

Portland House

11-13 Station Road

Kettering

Northamptonshire

NN15 7HH

FIXED ASSETS

Tangible assets

4

39,231

44,164

CURRENT ASSETS

Stocks

383,963

406,213

Debtors

5

2,966,220

2,665,172

Cash at bank

20,534

5,001

3,370,717

3,076,386

CREDITORS

Amounts falling due within one year

6

1,902,019

1,527,717

NET CURRENT ASSETS

1,468,698

1,548,669

TOTAL ASSETS LESS CURRENT LIABILITIES

1,507,929

1,592,833

CREDITORS

Amounts falling due after more than one year

7

78,174

98,276

NET ASSETS

1,429,755

1,494,557

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

1,427,755

1,492,557

SHAREHOLDERS' FUNDS

1,429,755

1,494,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th September 2025 and were signed on its behalf by:

C D Simms - Director

AC Tomalin - Director

1.	STATUTORY INFORMATION

Track It Now Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic cost basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2024

3,308

49,995

22,889

76,192

Additions

-

4,830

-

4,830

At 31st December 2024

3,308

54,825

22,889

81,022

DEPRECIATION

At 1st January 2024

2,458

7,499

22,071

32,028

Charge for year

126

9,385

252

9,763

At 31st December 2024

2,584

16,884

22,323

41,791

NET BOOK VALUE

At 31st December 2024

724

37,941

566

39,231

At 31st December 2023

850

42,496

818

44,164

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

10,938

26,347

Amounts owed by group undertakings

2,931,722

2,617,652

Other debtors

23,560

21,173

2,966,220

2,665,172

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

106,606

65,496

Hire purchase contracts (see note 8)

1,176

1,058

Trade creditors

80,553

62,386

Amounts owed to group undertakings

1,618,859

1,319,324

Taxation and social security

74,064

58,550

Other creditors

20,761

20,903

1,902,019

1,527,717

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

46,432

65,359

Hire purchase contracts (see note 8)

31,742

32,917

78,174

98,276

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

1,176

1,058

Between one and five years

31,742

32,917

32,918

33,975

At the year end the company had commitments totalling of £32,918 (2023: 33,975) in respect of hire purchase.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

153,038

130,855

Bank loans are secured under the UK government Coronavirus Business Interruption loan schemes providing a full guarantee on the outstanding amount, or by fixed and floating charges over the assets of the limited company.

10.	RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were all concluded under normal market conditions.