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Registered number: 13192773
Track Medical Limited
Financial Statements
For the Period 1 December 2024 to 31 December 2025
Elco Accounting Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 13192773
31 December 2025 30 November 2024
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 4,459,111 1,401,726
Debtors 5 6,089,363 2,452,165
Cash at bank and in hand 1,857,270 1,479,349
12,405,744 5,333,240
Creditors: Amounts Falling Due Within One Year 6 (7,544,390 ) (2,702,841 )
NET CURRENT ASSETS (LIABILITIES) 4,861,354 2,630,399
TOTAL ASSETS LESS CURRENT LIABILITIES 4,861,354 2,630,399
NET ASSETS 4,861,354 2,630,399
CAPITAL AND RESERVES
Called up share capital 7 10 10
Profit and Loss Account 4,861,344 2,630,389
SHAREHOLDERS' FUNDS 4,861,354 2,630,399
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 Profit and Loss Account.
On behalf of the board
Mr M Drain
Director
07/09/2026
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Track Medical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13192773 . The registered office is Ashville Business Park, Commerce Road, Gloucester, GL2 9SL.

The presentational currency of the financial statements is the Pound Sterling (£).

The ultimate controlling party is Track Group Holdings Limited, a company incorporated in England and Wales.
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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. 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 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.
2.4. 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.
2.5. Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and
other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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Page 3
2.6. 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.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 3 (2024: 3)
3 3
4. Stocks
31 December 2025 30 November 2024
£ £
Stock 4,459,111 1,401,726
5. Debtors
31 December 2025 30 November 2024
£ £
Due within one year
Trade debtors - 2,452,155
Amounts owed by participating interests 6,089,353 -
Other debtors 10 10
6,089,363 2,452,165
6. Creditors: Amounts Falling Due Within One Year
31 December 2025 30 November 2024
£ £
Trade creditors 7,078 -
Amounts owed to group undertakings 6,149,056 1,977,717
Other creditors 11,000 8,500
Taxation and social security 1,377,256 716,624
7,544,390 2,702,841
Page 3
Page 4
7. Share Capital
31 December 2025 30 November 2024
£ £
Allotted, Called up and fully paid 10 10
8. 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.
9. Related Party Transactions
The company is a wholly owned subsidiary of a group that prepares publically avaliable 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 made sales to Spectrum Medical Group Limited (a related, and controlling, party post year end) of £15,016,358. Included in debtors at the year end is £6,089,353 owed by Spectrum Medical Group Limited.
10. Ultimate Controlling Party
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.
11. Audit Information
The auditor's report on the accounts of Track Medical Limited for the period ended 31 December 2025 was unqualified.
The auditor's report was signed by Gino Paolo Amasanti FCCA (Senior Statutory Auditor) for and on behalf of Sterling Grove Accountants Limited , Statutory Auditor.
Sterling Grove Accountants Limited
Fawley House
2 Regatta Place, Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
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