Itrac Computing Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 7844236

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		14,685		17,839

			14,685		17,839
CURRENT ASSETS
Debtors	5	99		977
Cash at bank and in hand		287		33

		386		1,010
Creditors: Amounts Falling Due Within One Year	6	(19,974 )		(1,722 )

NET CURRENT ASSETS (LIABILITIES)			(19,588 )		(712 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(4,903 )		17,127

Creditors: Amounts Falling Due After More Than One Year	7		(37,083 )		(35,365 )

NET LIABILITIES			(41,986 )		(18,238 )

Income and Expenditure Account			(41,986 )		(18,238 )

MEMBERS' FUNDS			(41,986)		(18,238)

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Itrac Computing Limited

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 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 Income and Expenditure Account.

On behalf of the board

Mr Mark May

Director

20 October 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Itrac Computing Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 7844236 . The registered office is c/o Maze Computers, 1 Wellington Way, Waterlooville, Hants, PO7 7DR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

2.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. 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:

Plant & Machinery	20%
Motor Vehicles	20%

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income and expenditure account as incurred.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2025	2024
Office and administration	1	1

	1	1

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Itrac Computing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 February 2024	3,369	21,895	25,264
Additions	80	-	80

As at 31 January 2025	3,449	21,895	25,344

Depreciation
As at 1 February 2024	2,998	4,427	7,425
Provided during the period	90	3,144	3,234

As at 31 January 2025	3,088	7,571	10,659

Net Book Value
As at 31 January 2025	361	14,324	14,685

As at 1 February 2024	371	17,468	17,839

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	99	977

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	183	34
Other taxes and social security	17	17
Accruals and deferred income	34	180
Director's loan account	19,740	1,491

	19,974	1,722

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	35,899	30,132
Bank loans	1,184	5,233

	37,083	35,365

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Itrac Computing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Later than one year and not later than five years	35,899	30,132

9. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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