| Registered Number:NI065105 |
For the year ended 31 May 2025
Northern Ireland
Unaudited Financial Statements
For the year ended 31 May 2025
Trace First Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Trace First Limited
Statement of Financial Position
2024
2025
3,436,056
3,436,056
2
| Property, plant and equipment |
292,732
288,213
3
4,318,899
7,497,040
11,225,828
8,043,168
201,664
220,944
4
| Trade and other receivables |
1,362,712
1,626,201
5
564,965
| Cash and cash equivalents |
37,129
1,884,274
2,129,341
| Trade and other payables: amounts falling due within one |
| year |
(414,212)
(656,317)
6
1,715,129
1,227,957
Net current assets
| Total assets less current liabilities |
12,453,785
9,758,297
| Trade and other payables: amounts falling due after more |
| than one year |
-
(5,205)
7
(15,667)
(14,533)
| Provisions for liabilities |
12,432,913
Net assets
9,743,764
92
52
5,450,000
2,900,000
6,982,821
6,843,712
12,432,913
9,743,764
Shareholders' funds
| For the year ended 31 May 2025 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006 |
| The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 May 2025
Trace First Limited
Statement of Financial Position Continued
| These financial statements were approved and authorised for issue by the Board on 05 December 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 May 2025
Trace First Limited
Notes to the Financial Statements
Statutory Information
| Trace First Limited is a private limited company, limited by shares, domiciled in Northern Ireland, registration number |
| NI065105. |
88A Main Street
Moira
County Down
BT67 0LH
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A 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 historical costs convention as |
| modified by the revaluation of certain assets. |
Property, plant and equipment
| Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Furniture and Fittings
Government grants
| Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
| Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 at the date of transaction. Exchange rate 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 straightline basis over the period of the lease.
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For the year ended 31 May 2025
Trace First Limited
Notes to the Financial Statements Continued
| 2. Intangible fixed assets |
3,436,056
3,436,056
3,436,056
3,436,056
| 3. Property, plant and equipment |
370,260
81,043
9,770
49,447
230,000
53,244
11,954
3,798
37,492
-
-
-
(49,447)
-
(49,447)
37,492
13,568
92,997
374,057
230,000
| Provision for depreciation and impairment |
82,047
56,730
3,684
21,633
-
Charge for year
20,911
9,067
2,471
9,373
-
(21,633)
-
-
(21,633)
-
81,325
65,797
6,155
9,373
-
230,000
28,119
7,413
27,200
292,732
230,000
27,814
6,086
24,313
288,213
2024
2025
220,944
201,664
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For the year ended 31 May 2025
Trace First Limited
Notes to the Financial Statements Continued
| 5. Trade and other receivables |
2024
2025
322,443
439
| Amounts owed by group undertakings and participating interests |
1,303,579
1,352,774
179
9,499
1,362,712
1,626,201
| The debtors above include the following amounts falling due after more than one year: |
| Amounts owed by group undertakings and participating interests |
1,303,579
1,352,774
| 6. Trade and other payables: amounts falling due within one year |
2024
2025
-
1,835
| Taxation and social security |
400,868
187,348
255,449
225,029
656,317
414,212
| 7. Trade and other payables: amounts falling due after more than one year |
2024
2025
5,205
-
| 8. Average number of persons employed |
During the year the average number of employees was 22 (2024 : 20)
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