Track Group Holdings Limited
Track Group Holdings Limited
Registered number: 12998964
Unaudited Financial Statements
For the Period
5 November 2020
to
30 November 2021
Elco Accounting Limited
Track Group Holdings Limited
Unaudited Financial Statements
For the Period
5 November 2020
to
30 November 2021
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1 |
Notes to the Financial Statements | 2—3 |
Track Group Holdings Limited
Balance Sheet
As at
30 November 2021
Balance Sheet
Registered number:
12998964
For the period ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
30 November 2021 | |||
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Notes | £ | £ | |
FIXED ASSETS | |||
Investments | 3 |
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CURRENT ASSETS | |||
Debtors | 4 |
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Creditors: Amounts Falling Due Within One Year | 5 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||
Called up share capital | 6 |
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SHAREHOLDERS' FUNDS | 30 | ||
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Director
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The notes on pages 2 to 3 form part of these financial statements.
Track Group Holdings Limited
Notes to the Financial Statements
For the Period
5 November 2020
to
30 November 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
The purpose of the company is as a investment holding entity, therefore it is not trading and has no disclosable turnover for the period.
1.3.
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realised the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
1.4.
Investments
Unlisted investments comprise the investment in subsidiary entities. These are held at aquisition value, less any impairment provisions.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3
Track Group Holdings Limited
Notes to the Financial Statements (continued)
For the Period
5 November 2020
to
30 November 2021
3.
Investments
Unlisted | |
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£ | |
Cost | |
As at
|
- |
Additions | 12 |
As at
|
12 |
Provision | |
As at
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- |
As at
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- |
Net Book Value | |
As at
|
12 |
As at
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- |
4.
Debtors
30 November 2021 | |
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£ | |
Due within one year | |
Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
30 November 2021 | |
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£ | |
Amounts owed to subsidiaries |
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7.
General Information
Track Group Holdings Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
12998964
. The registered office is C/O Elco Accounting, 24 Church Street, Rickmansworth, Hertfordshire, WD3 1DD.
The presentational currency of the financial statements is the Pound Sterling (£).
The company has £12 on creditors owed to it's subsidiary undertakings, these amounts are interest free and repayable on demand.