Trax Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04920679 (England and Wales)

Abridged Financial Statements for the Year Ended 29 February 2020

for

Trax Services Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J E Pheasey

SECRETARY:

Carrington-may Limited

REGISTERED OFFICE:

31 Walker Avenue

Wolverton Mill East

Wolverton

Milton Keynes

Buckinghamshire

MK12 5QT

REGISTERED NUMBER:

04920679 (England and Wales)

ACCOUNTANTS:

Carrington-May

Chartered Certified Accountants

31 Walker Avenue

Wolverton Mill East

Milton Keynes

Buckinghamshire

MK12 5TW

FIXED ASSETS

Tangible assets

4

619

838

CURRENT ASSETS

Debtors

-

172

Cash at bank

34

420

34

592

CREDITORS

Amounts falling due within one year

1,119

1,253

NET CURRENT LIABILITIES

(1,085

)

(661

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(466

)

177

PROVISIONS FOR LIABILITIES

37

159

NET (LIABILITIES)/ASSETS

(503

)

18

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(505

)

16

SHAREHOLDERS' FUNDS

(503

)

18

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 29 February 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 28 January 2021 and were signed by:

J E Pheasey - Director

1.	STATUTORY INFORMATION

Trax Services 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.

The director has considered the future trading of the business. On the basis that the business meets all of its obligations as they fall due and has the continued support of its director, the director considers the going concern basis of preparation to be appropriate.

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.

Computer equipment

-

25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2019

and 29 February 2020

874

DEPRECIATION

At 1 March 2019

36

Charge for year

219

At 29 February 2020

255

NET BOOK VALUE

At 29 February 2020

619

At 28 February 2019

838

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2020 and 28 February 2019:

2020

2019

£

£

J E Pheasey

Balance outstanding at start of year

172

-

Amounts advanced

-

172

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

172

172

At the balance sheet date the sum of £578 is owed to the director by the company (2019 - £172 was owed by the director to the company). £578 was the maximum amount outstanding during the year. No interest has been paid or accrued on the amount outstanding.