REGISTERED NUMBER: 01771626 (England and Wales)

Track Analysis Systems Limited

Financial Statements for the Year Ended 31 March 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Ms E L Alander

K P Nilsson

Mrs L R Pettersson

Dr M F Dugdale

REGISTERED OFFICE:

Unit 12 Market Industrial Estate

Yatton

BRISTOL

BS49 4RF

REGISTERED NUMBER:

01771626 (England and Wales)

AUDITORS:

T C Group

One Bell Lane

LEWES

East Sussex

BN7 1JU

BANKERS:

Barclays Bank plc

55 Broadmead

Bristol

BS1 3EA

FIXED ASSETS

Tangible assets

5

11,121

1

CURRENT ASSETS

Stocks

6

69,063

48,713

Debtors

7

397,708

274,989

Cash at bank and in hand

444,160

543,651

910,931

867,353

CREDITORS

Amounts falling due within one year

8

197,316

175,926

NET CURRENT ASSETS

713,615

691,427

TOTAL ASSETS LESS CURRENT LIABILITIES

724,736

691,428

PROVISIONS FOR LIABILITIES

10

2,780

-

NET ASSETS

721,956

691,428

CAPITAL AND RESERVES

Called up share capital

11

12

12

Capital redemption reserve

12

30

30

Retained earnings

12

721,914

691,386

SHAREHOLDERS' FUNDS

721,956

691,428

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2026 and were signed on its behalf by:

Mrs L R Pettersson - Director

1.	STATUTORY INFORMATION

Track Analysis Systems Limited 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.	STATEMENT OF COMPLIANCE

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements are prepared under the historical cost convention. The principal accounting policies adopted are set out below.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements are presented in the functional currency of the company,which is Pounds Sterling, and are rounded to the nearest pound.

Turnover

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

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on the dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from a contract to provide services is recognised in the period which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

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

-

Straight line over 3 years

Stocks

Stocks is 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. Stock is measured on a FIFO basis.

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

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2025 - 11 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

33,080

Additions

11,487

At 31 March 2026

44,567

DEPRECIATION

At 1 April 2025

33,079

Charge for year

367

At 31 March 2026

33,446

NET BOOK VALUE

At 31 March 2026

11,121

At 31 March 2025

1

6.

STOCKS

31.3.26

31.3.25

£

£

Stocks

69,063

48,713

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

375,897

274,989

Amounts owed by group undertakings

14,111

-

Prepayments and accrued income

7,700

-

397,708

274,989

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

101

13,945

Amounts owed to group undertakings

109,277

58,275

Corporation Tax

14,786

82,402

Social security and other taxes

8,770

5,304

Other creditors

246

-

Accruals and deferred income

64,136

16,000

197,316

175,926

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.26

31.3.25

£

£

Within one year

26,100

-

Between one and five years

82,650

-

108,750

-

10.	PROVISIONS FOR LIABILITIES

31.3.26

31.3.25

£

£

Deferred tax

2,780

-

Deferred

tax

£

Provided during year

2,780

Balance at 31 March 2026

2,780

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

12

Ordinary

£1

12

12

12.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2025

691,386

30

691,416

Profit for the year

380,528

380,528

Dividends

(350,000

)

(350,000

)

At 31 March 2026

721,914

30

721,944

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for opinion

We were unable to obtain sufficient appropriate audit evidence regarding the quantities and value of the opening stock position as at 1 April 2024, for which no balance of stock had been recognised. Due to not being appointed as auditors until after 31 March 2024, we could not observe the counting of physical stock as at 31 March 2024 and were unable to satisfy ourselves by alternative means concerning the stock quantities held as at 31 March 2024. Due to the lack of records available to support the stock held at 31 March 2024, we were unable to satisfy ourselves by alternative means concerning the stock value held as at 31 March 2024. As a result of this matter, we were unable to determine whether any adjustments might have been necessary in respect of the opening stock balance, with a potential material understatement of stock at 31 March 2024.

Jeff Fletcher FCCA (Senior Statutory Auditor)

for and on behalf of T C Group

14.	RELATED PARTY DISCLOSURES

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 wholly owned subsidiaries within the group.

15.	ULTIMATE CONTROLLING PARTY

Lagercrantz Group AB, a publicly listed company in Sweden, is regarded by the directors as being the company's ultimate parent company and ultimate controlling party.

Lagercrantz Group AB is the parent company of the smallest and largest group for which Track Analysis Systems Limited is a member and for which group consolidated financial statements are drawn up.

Copies of the consolidated financial statements may be obtained from the company's office at Torsgatan 2, Box 3508, SE-103 69, Stockholm, Sweden.