Track King Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08824456 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

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

1

CURRENT ASSETS

Stocks

-

107,085

Debtors

5

31,916

83,507

Cash at bank and in hand

193,712

162,420

225,628

353,012

CREDITORS

Amounts falling due within one year

6

82,403

298,023

NET CURRENT ASSETS

143,225

54,989

TOTAL ASSETS LESS CURRENT LIABILITIES

143,226

54,990

CREDITORS

Amounts falling due after more than one year

7

37,264

46,839

NET ASSETS

105,962

8,151

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

105,961

8,150

105,962

8,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 2 June 2023 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.

Stocks

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

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 1 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

and 31 December 2022

3,415

DEPRECIATION

At 1 January 2022

and 31 December 2022

3,414

NET BOOK VALUE

At 31 December 2022

1

At 31 December 2021

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

31,916

58,425

Other debtors

-

25,082

31,916

83,507

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

29,727

282,222

Taxation and social security

47,631

11,300

Other creditors

5,045

4,501

82,403

298,023

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans

37,264

46,839

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £42,438 (2021 - £60,957) were paid to the directors .

Dividends paid to directors was £42,438 (£60,957 2021)

Included within other creditors is a loan from DCS 2 Way Radio Ltd of £4,000 (£4,000 2021)