ONETRACE LTD


Directors	BIRD, Lewis Nicholas
	MCCLELLAND, Gregory


Registered Address	30 Churchill Place
	London
	E14 5RE


Registered Number	12337461 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	4		11,623		13,076
Tangible assets	5		22,064		16,190
			33,687		29,266
Current assets
Debtors		132,557		116,339
Cash at bank and on hand		572,200		179,985
		704,757		296,324
Creditors amounts falling due within one year	6	(286,861)		(130,041)
Net current assets (liabilities)			417,896		166,283
Total assets less current liabilities			451,583		195,549
Creditors amounts falling due after one year	7		(28,546)		(33,944)
Net assets			423,037		161,605
Capital and reserves
Called up share capital			100		100
Profit and loss account			422,937		161,505
Shareholders' funds			423,037		161,605

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 26 September 2025, and are signed on its behalf by:

MCCLELLAND, Gregory
Director
Registered Company No. 12337461

ONETRACE LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from sales is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from sales is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

2.	Average number of employees


		2024		2023
	Average number of employees during the year	23		15

3.	Prior period adjustment
	The comparative figures for the prior period have been restated to correct for an error in the original presentation of equity. The restatement has resulted in an increase in the opening retained earnings of the prior year by £31,625.

4.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 24	14,529	14,529
At 31 December 24	14,529	14,529
Amortisation and impairment
At 01 January 24	1,453	1,453
Charge for year	1,453	1,453
At 31 December 24	2,906	2,906
Net book value
At 31 December 24	11,623	11,623
At 31 December 23	13,076	13,076

5.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 24	-	22,711	22,711
Additions	-	12,629	12,629
At 31 December 24	-	35,340	35,340
Depreciation and impairment
At 01 January 24	-	6,521	6,521
Charge for year	6,755	-	6,755
At 31 December 24	6,755	6,521	13,276
Net book value
At 31 December 24	(6,755)	28,819	22,064
At 31 December 23	-	16,190	16,190

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	52,995	3,759
Taxation and social security	158,038	61,360
Other creditors	11,143	34,995
Accrued liabilities and deferred income	64,685	29,927
Total	286,861	130,041

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	28,546	33,944
Total	28,546	33,944