Steertrak (UK) Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Steertrak (UK) Ltd

Company Information

Director

J R M Krantz

Registered Office

Commercial House Station Road Tewkesbury Gloucester GL20 5DR

Registered Number

05445776

Accountants

Verinder Powell Associates Limited Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

Steertrak (UK) Ltd

(Registration number: 05445776)
Balance Sheet as at 31 May 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	108,141	132,833
Tangible assets	5	253,412	188,155
		361,553	320,988
Current assets
Stocks	6	620	715
Debtors	7	350,452	339,855
Cash at bank and in hand		592,238	219,221
		943,310	559,791
Creditors: Amounts falling due within one year	8	(399,293)	(333,984)
Net current assets		544,017	225,807
Total assets less current liabilities		905,570	546,795
Provisions for liabilities		(63,111)	(46,355)
Net assets		842,459	500,440
Capital and reserves
Called up share capital		8,227	8,227
Share premium reserve		180,826	180,826
Retained earnings		653,406	311,387
Shareholders' funds		842,459	500,440

Steertrak (UK) Ltd

(Registration number: 05445776)
Balance Sheet as at 31 May 2026

For the financial year ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 October 2026
 

......................................... J R M Krantz Director

Steertrak (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Commercial House
Station Road
Tewkesbury
Gloucester
GL20 5DR

These financial statements were authorised for issue by the director on 21 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). There have been no material departures from the Financial Reporting Standard 102 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with members of its group, on the grounds that it is a wholly owned subsidiary.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Steertrak (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

No amortisation is being charged on other intangible assets.

Goodwill

Goodwill, being the amount paid in connection with two business acquisitions, in 2007 and 2016, is being amortised evenly over its estimated useful life of 20 years.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% straight line
Fixtures and fittings	10% straight line
Motor vehicles	20% reducing balance
Computer equipment	33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Steertrak (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed 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.

Stocks

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

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 cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Hire purchase and leasing commitments

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Steertrak (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

Defined contribution pension obligation

The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2025 - 21).

4	Intangible fixed assets

	Goodwill  £	Other intangible assets  £	Total £
Cost or valuation
At 1 June 2025	493,831	14,775	508,606
At 31 May 2026	493,831	14,775	508,606
Amortisation
At 1 June 2025	375,773	-	375,773
Amortisation charge	24,692	-	24,692
At 31 May 2026	400,465	-	400,465
Carrying amount
At 31 May 2026	93,366	14,775	108,141
At 31 May 2025	118,058	14,775	132,833

Steertrak (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

5	Tangible assets

	Plant and machinery £	Fixtures and fittings £	Motor vehicles  £	Computer equipment £	Total £
Cost or valuation
At 1 June 2025	208,568	9,361	373,276	24,634	615,839
Additions	6,025	1,503	117,366	485	125,379
Disposals	-	-	(67,915)	-	(67,915)
At 31 May 2026	214,593	10,864	422,727	25,119	673,303
Depreciation
At 1 June 2025	189,315	7,188	210,537	20,644	427,684
Charge for the year	7,474	397	40,195	1,599	49,665
Eliminated on disposal	-	-	(57,458)	-	(57,458)
At 31 May 2026	196,789	7,585	193,274	22,243	419,891
Carrying amount
At 31 May 2026	17,804	3,279	229,453	2,876	253,412
At 31 May 2025	19,253	2,173	162,739	3,990	188,155

6

Stocks

	2026 £	2025 £
Stocks	620	715

7

Debtors

	2026 £	2025 £
Trade debtors	335,461	329,705
Amounts owed by related parties	3,540	1,560
Prepayments	5,734	5,543
Other debtors	5,717	3,047
	350,452	339,855

Steertrak (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

8

Creditors

Due within one year	2026 £	2025 £
Bank borrowings	-	502
Trade creditors	32,016	31,624
Taxation and social security	275,364	230,261
Accruals and deferred income	87,386	66,599
Other creditors	4,527	4,998
	399,293	333,984

9	Financial commitments, guarantees and contingencies

Pension commitments

The entity operates a defined contributions pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £2,298 (2025 - £2,023) were payable to the fund at the reporting date.

Off balance sheet commitments

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £36,000 (2025 - £5,378).

Steertrak (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

10	Related party transactions

Loans from related parties

2026	Key management £	Total £
Advanced	16,799	16,799
Repaid	(16,799)	(16,799)
At end of period	-	-

2025	Key management £	Total £
Advanced	12,867	12,867
Repaid	(12,867)	(12,867)
At end of period	-	-

Terms of loans from related parties

Loans from key management are interest free and repayable on demand.