Fast Track Rebates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10494162 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2021

FOR

FAST TRACK REBATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A P Deering

REGISTERED OFFICE:

2nd Floor

9 Hilton Avenue

Urmston

Manchester

M41 0TP

REGISTERED NUMBER:

10494162 (England and Wales)

ACCOUNTANTS:

KJG

1 City Road East

Manchester

M15 4PN

FIXED ASSETS

Tangible assets

4

53,774

71,699

CURRENT ASSETS

Debtors

5

549,997

523,074

Cash at bank

148

8,671

550,145

531,745

CREDITORS

Amounts falling due within one year

6

(302,660

)

(331,274

)

NET CURRENT ASSETS

247,485

200,471

TOTAL ASSETS LESS CURRENT LIABILITIES

301,259

272,170

CREDITORS

Amounts falling due after more than one year

7

(34,503

)

(49,500

)

NET ASSETS

266,756

222,670

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

266,755

222,669

SHAREHOLDERS' FUNDS

266,756

222,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2021 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th May 2022 and were signed by:

A P Deering - Director

1.	STATUTORY INFORMATION

Hanover Insolvency TD Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 10494162. The address of the principal place of business and the registered office is 2nd Floor, 9 Hilton Avenue, Urmston, Manchester, M41 0TP.

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 as the fair value of the consideration received or receivable, excluding value added tax. The following criteria must also be met before turnover is recognised:

- the amount of turnover 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

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Short Leasehold - 20% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents

Cash and cash equivalents comprise of cash at bank and in hand, and bank borrowings.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 1 ).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1st December 2020

and 30th November 2021

89,624

DEPRECIATION

At 1st December 2020

17,925

Charge for year

17,925

At 30th November 2021

35,850

NET BOOK VALUE

At 30th November 2021

53,774

At 30th November 2020

71,699

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts recoverable on contract

6,032

15,688

Other debtors

543,965

507,386

549,997

523,074

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

10,045

-

Trade creditors

20,419

5,256

Taxation and social security

77,050

80,998

Other creditors

195,146

245,020

302,660

331,274

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

34,503

49,500

8.	SECURED DEBTS

MDN Consultancy Limited holds fixed and floating charges dated 12/07/2018 over the assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£0.01

1

1

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date of 30/11/2020 the director owed the company £201,129 (2020: £195,404).