Track Components Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04650681 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2013

FOR

TRACK COMPONENTS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTORS:

Mr C F Purchase

Mrs E M Purchase

SECRETARY:

Mr C F Purchase

REGISTERED OFFICE:

c/o Cox Costello

Langwood House

63-81 High Street

Rickmansworth

Hertfordshire

WD3 1EQ

REGISTERED NUMBER:

04650681 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne Limited

Chartered Accountants and Chartered Tax Advisers

Langwood House

63-81 High Street

Rickmansworth

Hertfordshire

WD3 1EQ

FIXED ASSETS

Tangible assets

2

1,148,571

334,225

CURRENT ASSETS

Stocks

17,401

19,565

Debtors

638,647

749,742

Cash at bank

901,646

676,913

1,557,694

1,446,220

CREDITORS

Amounts falling due within one year

591,802

636,763

NET CURRENT ASSETS

965,892

809,457

TOTAL ASSETS LESS CURRENT LIABILITIES

2,114,463

1,143,682

CREDITORS

Amounts falling due after more than one year

3

(555,180

)

-

PROVISIONS FOR LIABILITIES

(16,849

)

-

NET ASSETS

1,542,434

1,143,682

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

1,542,432

1,143,680

SHAREHOLDERS' FUNDS

1,542,434

1,143,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 August 2014 and were signed on its behalf by:

Mr C F Purchase - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Land and buildings

-

5% on cost

Plant and machinery etc

-

33% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2012

1,527,968

Additions

996,354

At 30 November 2013

2,524,322

DEPRECIATION

At 1 December 2012

1,193,743

Charge for year

182,008

At 30 November 2013

1,375,751

NET BOOK VALUE

At 30 November 2013

1,148,571

At 30 November 2012

334,225

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

30.11.13

30.11.12

£

£

Repayable by instalments

431,895

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.13

30.11.12

value:

£

£

2

Ordinary

£1

2

2

5.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Track Components Ltd for the year ended 30 November 2013 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to

its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Track Components Ltd, as a body, in accordance with our terms

of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Track

Components Ltd and state those matters that we have agreed to state to the Board of Directors of Track Components

Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Track Components Ltd has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Track

Components Ltd. You consider that Track Components Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Track Components Ltd. For

this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne Limited

Chartered Accountants and Chartered Tax Advisers

Langwood House

63-81 High Street

Rickmansworth

Hertfordshire

WD3 1EQ

Date: .............................................