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 2020

for

Track King Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

206

CURRENT ASSETS

Debtors

5

128,841

53,878

Cash at bank and in hand

31,358

16,987

160,199

70,865

CREDITORS

Amounts falling due within one year

6

89,508

49,695

NET CURRENT ASSETS

70,691

21,170

TOTAL ASSETS LESS CURRENT LIABILITIES

70,692

21,376

CREDITORS

Amounts falling due after more than one year

7

50,000

-

NET ASSETS

20,692

21,376

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

20,691

21,375

20,692

21,376

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 16 July 2021 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 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

3,415

DEPRECIATION

At 1 January 2020

3,209

Charge for year

205

At 31 December 2020

3,414

NET BOOK VALUE

At 31 December 2020

1

At 31 December 2019

206

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

128,841

53,878

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

46,451

17,543

Taxation and social security

33,937

23,154

Other creditors

9,120

8,998

89,508

49,695

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

50,000

-