Track King Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08824456 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Track King Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A P Gibbons

A W Platt

D Perrins

S Hampson

REGISTERED OFFICE:

Unit 3 Turnstone Business Park

Mulberry Avenue

Widnes

Cheshire

WA8 0WN

REGISTERED NUMBER:

08824456 (England and Wales)

ACCOUNTANTS:

Holland & Co. Chartered Accountants

102/104 Widnes Road

Widnes

Cheshire

WA8 6AX

FIXED ASSETS

Tangible assets

4

1,060

1,913

CURRENT ASSETS

Debtors

5

51,233

29,400

Cash at bank

17,166

23,696

68,399

53,096

CREDITORS

Amounts falling due within one year

6

56,215

51,905

NET CURRENT ASSETS

12,184

1,191

TOTAL ASSETS LESS CURRENT LIABILITIES

13,244

3,104

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

13,243

3,103

13,244

3,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 26 September 2019 and were signed on its behalf by:

A P Gibbons - Director

1.	STATUTORY INFORMATION

Track King Ltd 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 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 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.

Taxation

Taxation for the year comprises current and deferred 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 or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

and 31 December 2018

3,415

DEPRECIATION

At 1 January 2018

1,502

Charge for year

853

At 31 December 2018

2,355

NET BOOK VALUE

At 31 December 2018

1,060

At 31 December 2017

1,913

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

46,174

20,965

Other debtors

5,059

8,435

51,233

29,400

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

33,041

31,754

Taxation and social security

10,722

7,700

Other creditors

12,452

12,451

56,215

51,905

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £34,411 (2017 - £29,603) were paid to the directors .