Ontrack Engineering Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03458721 (England and Wales)

Financial Statements for the Year Ended 30 November 2018

for

Ontrack Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S Langford

REGISTERED OFFICE:

8th Floor

Elizabeth House

54 - 58 High Street

Edgware

Middlesex

HA8 7EJ

REGISTERED NUMBER:

03458721 (England and Wales)

ACCOUNTANTS:

Korklin & Company

Certified Practising Accountants

8th Floor

Elizabeth House

54 - 58 High Street

Edgware

Middlesex

HA8 7EJ

FIXED ASSETS

Tangible assets

4

13,822

2,958

CURRENT ASSETS

Debtors

5

2,400

2,838

Cash at bank

59,262

60,243

61,662

63,081

CREDITORS

Amounts falling due within one year

6

63,916

53,616

NET CURRENT (LIABILITIES)/ASSETS

(2,254

)

9,465

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,568

12,423

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

11,566

12,421

SHAREHOLDERS' FUNDS

11,568

12,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21 February 2019 and were signed by:

Mr S Langford - Director

1.	STATUTORY INFORMATION

Ontrack Engineering 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

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

Machinery & equipment

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Machinery

Office

Motor

& equipment

equipment

vehicles

Totals

£

COST

At 1 December 2017

16,486

10,729

3,055

30,270

Additions

-

15,490

Disposals

-

(3,055

)

(3,055

)

At 30 November 2018

16,486

10,729

15,490

42,705

DEPRECIATION

At 1 December 2017

15,104

9,170

3,038

27,312

Charge for year

346

390

3,873

4,609

Eliminated on disposal

-

(3,038

)

(3,038

)

At 30 November 2018

15,450

9,560

3,873

28,883

NET BOOK VALUE

At 30 November 2018

1,036

1,169

11,617

13,822

At 30 November 2017

1,382

1,559

17

2,958

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

Trade debtors

2,400

2,838

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

Corporation Tax

7,613

10,334

Social security and other taxes

1,468

2,063

Directors' current accounts

53,835

39,919

Accrued expenses

1,000

1,300

63,916

53,616

Ontrack Engineering Limited - Accounts to registrar (filleted) - small 18.2

Ontrack Engineering Limited - Accounts to registrar (filleted) - small 18.2