REGISTERED NUMBER: 06782184 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2025

for

Ontrack Agm Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr RD Carter

REGISTERED OFFICE:

Swinza Butts Farm

Lower Lane

Freckleton

Preston

Lancashire

PR4 1TS

REGISTERED NUMBER:

06782184 (England and Wales)

ACCOUNTANTS:

Towers + Gornall Ltd

Chartered Certified Accountants

River View

96 High Street

Garstang

Preston

Lancashire

PR3 1WZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,154,906

1,186,332

1,154,906

1,186,332

CURRENT ASSETS

Stocks

5,000

5,300

Debtors

6

139,276

78,433

Cash at bank

77,983

27,109

222,259

110,842

CREDITORS

Amounts falling due within one year

7

296,788

243,326

NET CURRENT LIABILITIES

(74,529

)

(132,484

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,080,377

1,053,848

CREDITORS

Amounts falling due after more than one year

8

(267,479

)

(349,432

)

PROVISIONS FOR LIABILITIES

(111,143

)

(106,817

)

NET ASSETS

701,755

597,599

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

701,655

597,499

SHAREHOLDERS' FUNDS

701,755

597,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21st October 2025 and were signed by:

Mr RD Carter - Director

1.	STATUTORY INFORMATION

Ontrack Agm Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 13 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

20,000

AMORTISATION

At 1st April 2024

and 31st March 2025

20,000

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2024

706,391

824,744

1,531,135

Additions

-

61,510

61,510

Disposals

-

(31,970

)

(31,970

)

At 31st March 2025

706,391

854,284

1,560,675

DEPRECIATION

At 1st April 2024

-

344,803

344,803

Charge for year

-

79,517

79,517

Eliminated on disposal

-

(18,551

)

(18,551

)

At 31st March 2025

-

405,769

405,769

NET BOOK VALUE

At 31st March 2025

706,391

448,515

1,154,906

At 31st March 2024

706,391

479,941

1,186,332

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

118,156

65,902

Other debtors

21,120

12,531

139,276

78,433

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

36,374

15,336

Hire purchase contracts

18,417

14,250

Trade creditors

52,241

54,675

Taxation and social security

81,354

42,062

Other creditors

108,402

117,003

296,788

243,326

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

247,291

314,994

Hire purchase contracts

20,188

34,438

267,479

349,432

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Mortgage

274,807

311,181

10.	RELATED PARTY DISCLOSURES

As at 31/03/2025 the company owed £105,359 to a director (31/03/2024 - £112,681). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.