Track Components Ltd

	Page
Strategic Report	1
Directors' Report	2
Independent Auditor's Report	3—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11—18

The directors present their strategic report for the period ended 31 December 2025.

Principal Activity

The company's principal activity continues to be that of general mechanical engineering.

Principal Risks and Uncertainties

The directors regularly assess, review and evaluate the main risks to the company identified below. This is not an exhaustive list.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet operating needs of the business.

Economic risk

The company is mindful of both national and international economic risks and builds reserves in the company as much as possible to mitigate any potential issues.

Credit risk

Investments of cash surpluses are made through banks and companies that fulfil credit rating criteria.

Development and performance

The directors report an increase in turnover by 64% to £19,866,199 (2024: £12,129,459) and a profit before tax of £7,029,431 (2024: £3,217,266). This is largely due to the increased inter-group sales activity with Track Medical Limited.

Key performance indicators

The key performance indicators are as follows:

	2025	2024
	£	£
Turnover	19,866,199	12,129,459
Gross profit	10,121,421	5,872,225
Profit/(loss) before tax	7,029,431	3,217,266
Shareholder's funds	16,742,139	11,320,829

On behalf of the board

Mr M Drain

Director

17/09/2026

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Track Components Ltd

Company No. 04650681

Directors' Report For the Period 1 December 2024 to 31 December 2025

Directors' Report

The directors present their report and the financial statements for the period ended 31 December 2025.

Directors

The directors who held office during the period were as follows:

Mr C F Purchase	Resigned	02/03/2026
Mrs E M Purchase	Resigned	02/03/2026
Mr J M Purchase	Resigned	02/03/2026
Mr M Drain	Appointed	02/03/2026
Mr D Haynes	Appointed	02/03/2026

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Sterling Grove Accountants Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr M Drain

Director

17/09/2026

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Page 3

Independent Auditor's Report

to the Members of

Track Components Ltd

Independent Auditor's Report

Opinion

We have audited the financial statements of Track Components Ltd for the period ended 31 December 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit/(loss) for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Track Components Ltd

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Track Components Ltd

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the manufacturing sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

Track Components Ltd

Gino Paolo Amasanti FCCA (Senior Statutory Auditor)

for and on behalf of Sterling Grove Accountants Limited , Statutory Auditor

18/09/2026

Sterling Grove Accountants Limited

Fawley House

2 Regatta Place, Marlow Road

Bourne End

Buckinghamshire

SL8 5TD

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Track Components Ltd

Profit and Loss Account

For the Period 1 December 2024 to 31 December 2025

Profit and Loss Account

		31 December 2025	30 November 2024
	Notes	£	£
TURNOVER		19,866,199	12,129,459
Cost of sales		(9,744,778 )	(6,257,234 )

GROSS PROFIT		10,121,421	5,872,225

Distribution costs		(74,244 )	(67,186 )
Administrative expenses		(3,432,690 )	(2,890,174 )
Other operating income		300,983	233,904

OPERATING PROFIT	4	6,915,470	3,148,769
Loss on disposal of fixed assets		(2,500 )	-
Other interest receivable and similar income	9	130,923	68,497
Interest payable and similar charges	10	(14,462 )	-

PROFIT BEFORE TAXATION		7,029,431	3,217,266
Tax on Profit	11	(1,608,121 )	(841,273 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL PERIOD		5,421,310	2,375,993

The notes on pages 11 to 18 form part of these financial statements.

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Track Components Ltd

Statement of Comprehensive Income

For the Period 1 December 2024 to 31 December 2025

Statement of Comprehensive Income

	31 December 2025	30 November 2024
	£	£
PROFIT FOR THE FINANCIAL PERIOD	5,421,310	2,375,993
OTHER COMPREHENSIVE INCOME FOR THE PERIOD	-	-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	5,421,310	2,375,993

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Track Components Ltd

Balance Sheet

As At 31 December 2025

Balance Sheet

Registered number: 04650681

		31 December 2025		30 November 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		1,982,650		1,767,082

			1,982,650		1,767,082
CURRENT ASSETS
Stocks	13	937,607		174,016
Debtors	14	8,629,745		4,092,097
Cash at bank and in hand		6,982,316		7,108,724

		16,549,668		11,374,837
Creditors: Amounts Falling Due Within One Year	15	(1,400,759 )		(1,481,566 )

NET CURRENT ASSETS (LIABILITIES)			15,148,909		9,893,271

TOTAL ASSETS LESS CURRENT LIABILITIES			17,131,559		11,660,353

PROVISIONS FOR LIABILITIES
Deferred Taxation	16		(389,420 )		(339,524 )

NET ASSETS			16,742,139		11,320,829

CAPITAL AND RESERVES
Called up share capital	18		2		2
Profit and Loss Account			16,742,137		11,320,827

SHAREHOLDERS' FUNDS			16,742,139		11,320,829

On behalf of the board

Mr M Drain

Director

17/09/2026

The notes on pages 11 to 18 form part of these financial statements.

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Track Components Ltd

Statement of Changes in Equity

For the Period 1 December 2024 to 31 December 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 December 2023	2	9,544,834	9,544,836
Profit for the year and total comprehensive income	-	2,375,993	2,375,993

Dividends paid	-	(600,000)	(600,000)

As at 30 November 2024 and 1 December 2024	2	11,320,827	11,320,829


Profit for the period and total comprehensive income	-	5,421,310	5,421,310

As at 31 December 2025	2	16,742,137	16,742,139

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Track Components Ltd

Notes to the Financial Statements

For the Period 1 December 2024 to 31 December 2025

Notes to the Financial Statements

1. General Information

Track Components Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04650681 . The registered office is Ashville Business Park, Commerce Road, Gloucester, GL2 9SL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30;
the requirements of Section 26 Share-based Payment paragraphs 26.18 (b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:

Freehold	straight line over 20 years
Plant & Machinery	20% on cost
Fixtures & Fittings	33% on cost
Computer Equipment	33% on cost

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Track Components Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 December 2025

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Trade debtors

Trade debtors are amounts due from customers for goods sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

2.9. Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised costs using the effective interest method.

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Track Components Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 December 2025

3. Other Operating Income

	31 December 2025	30 November 2024
	£	£
Royalties and similar income	7,334	-
Rental income	2,000	1,800
Other operating income	291,649	232,104

	300,983	233,904

4. Operating Profit

The operating profit is stated after charging:

	31 December 2025	30 November 2024
	£	£
Bad debts	-	52,329
Depreciation of tangible fixed assets	899,253	780,178

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the period was as follows:

	31 December 2025	30 November 2024
	£	£
Audit Services
Audit of the company's financial statements	10,500	8,500

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	31 December 2025	30 November 2024
	£	£
Wages and salaries	1,986,259	1,582,739
Social security costs	236,033	173,723
Other pension costs	198,719	191,725

	2,421,011	1,948,187

7. Average Number of Employees

Average number of employees, including directors, during the period was: 47 (2024: 42)

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Track Components Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 December 2025

8. Directors' remuneration

	31 December 2025	30 November 2024
	£	£
Emoluments	212,708	175,000
Company contributions to money purchase pension schemes	160,000	161,321

	372,708	336,321

The number of directors to whom retirement benefits were accruing was as follows:

	31 December 2025		30 November 2024
Money purchase pension schemes	3		3

Information regarding the highest paid director was as follows:

	31 December 2025	30 November 2024
	£	£
Emoluments	106,666	100,000
Company contributions to money purchase pension schemes	40,000	41,321

	146,666	141,321

9. Interest Receivable and Similar Income

	31 December 2025	30 November 2024
	£	£
Bank interest receivable	122,313	67,909
HMRC interest receivable	8,610	588

	130,923	68,497

10. Interest Payable and Similar Charges

	31 December 2025	30 November 2024
	£	£
Other finance charges	14,462	-

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Track Components Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 December 2025

11. Tax on Profit

The tax charge on the profit for the period was as follows:

	Tax Rate		31 December 2025	30 November 2024
	31 December 2025	30 November 2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	1,558,225	714,907
Deferred Tax
Deferred taxation			49,896	126,366


Total tax charge for the period			1,608,121	841,273

The actual charge for the period can be reconciled to the expected charge for the period based on the profit and the standard rate of corporation tax as follows:

	31 December 2025	30 November 2024
	£	£
Profit before tax	7,029,431	3,217,266

Tax on profit at 25% (UK standard rate)	1,757,357	804,317
Goodwill/depreciation not allowed for tax	224,814	195,045
Expenses not deductible for tax purposes	2,009	1,746
Capital allowances	(275,335 )	(221,211 )
Research and Development tax credit	(150,620 )	(64,990 )
Difference in tax rates	49,896	126,366

Total tax charge for the period	1,608,121	841,273

12. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 December 2024	8,202,175	211,910	93,484	8,507,569
Additions	1,076,381	25,612	15,328	1,117,321
Disposals	(332,522 )	(449 )	-	(332,971 )

As at 31 December 2025	8,946,034	237,073	108,812	9,291,919

Depreciation
As at 1 December 2024	6,459,833	188,553	92,101	6,740,487
Provided during the period	870,721	26,022	2,510	899,253
Disposals	(330,022 )	(449 )	-	(330,471 )

As at 31 December 2025	7,000,532	214,126	94,611	7,309,269

...CONTINUED

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Track Components Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 December 2025

Net Book Value
As at 31 December 2025	1,945,502	22,947	14,201	1,982,650

As at 1 December 2024	1,742,342	23,357	1,383	1,767,082

13. Stocks

	31 December 2025	30 November 2024
	£	£
Stock	297,261	174,016
Work in progress	640,346	-

	937,607	174,016

14. Debtors

	31 December 2025	30 November 2024
	£	£
Due within one year
Trade debtors	614,523	1,182,886
Amounts owed by group undertakings	7,271,247	2,440,789
Amounts owed by participating interests	447,621	-
Other debtors	296,354	468,422

	8,629,745	4,092,097

15. Creditors: Amounts Falling Due Within One Year

	31 December 2025	30 November 2024
	£	£
Trade creditors	575,287	940,898
Amounts owed to participating interests	67,436	-
Other creditors	10,508	9,233
Corporation tax	424,028	464,319
Taxation and social security	54,778	53,236
Accruals and deferred income	268,722	13,880

	1,400,759	1,481,566

16. Deferred Taxation

The provision for deferred tax is made up as follows:

	31 December 2025	30 November 2024
	£	£
Other timing differences	389,420	339,524

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Track Components Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 December 2025

The deferred tax provision relates to differences between accumulated depreciation and capital allowances. The net deferred tax liability expected to reverse in 2026 is £179,130, relating to the reversal of existing timing differences on capital allowances.

17. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 December 2024	339,524	339,524
Deferred taxation	49,896	49,896

Balance at 31 December 2025	389,420	389,420

18. Share Capital

	31 December 2025	30 November 2024
Allotted, called up and fully paid	£	£
2 Ordinary Shares of £ 1.00 each	2	2

19. Capital Commitments

	31 December 2025	30 November 2024
	£	£
At the end of the period	-	358,146

At the end of the period, the company had capital commitments contracted for but not provided in these financial statements

20. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the period the charge to the profit and loss account in respect of defined contribution schemes was £198,719 (2024: £191,725).

At the balance sheet date contributions of £7,514 (2024: £6,453) were due to the fund and are included in creditors.

21. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 December 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mr Clive Purchase	-	500	-	-	500

The above loan is unsecured, interest free and repayable on demand.

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Track Components Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2024 to 31 December 2025

22. Dividends

	31 December 2025	30 November 2024
	£	£
On equity shares:
Interim dividend paid	-	600,000

23. Post Balance Sheet Events

Sale of group

On 2nd March 2026, the shareholders of Track Group Holdings Limited (the parent company) entered into an agreement to sell their entire investment in the company to a third party, Spectrum Medical Group Limited. The disposal will be finalised based on financial figures to that date, based on interim management accounts post year end.

At the reporting date of 31st December 2025, the disposal post year end does not impact the figures reported.

24. Related Party Disclosures

The company is a wholly owned subsidiary of a group that prepares publically available consolidated financial statements, namely the group head by Track Group Holdings Limited, so it has taken advantage of the exemption avaliable under Section 33.7 of the Financial Reporting Standard 102 to not disclose transactions with wholly owned group entities.

During the year the company sold goods to Track Distribution Limited (a related party due to common ownership of the group at the year end). Included in debtors are amounts due from them totalling £147,622. These amounts are interest free and repayable on demand. All transactions are undertaken on an arms length basis.

During the year the company purchased goods from Spectrum Medical Group Limited (post year end related, and controlling, part). At the year end, the company owed Spectrum Medical Group Limited £67,436.

25. Controlling Parties

The ultimate parent company is Track Group Holdings Limited, which is incorporated in England. The registered office address of Track Group Holdings Limited is Ashville Business Park, Commerce Road, Gloucester, GL2 9SL.

The ultimate controlling party are the directors who are the majority shareholders in the ultimate parent company.

The largest group financial statements that consolidate this company is Track Group Holdings Limited. Copies of the group accounts are available to the public from the company at the registered office.

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