Trace First Limited,Ltd - AccountsLtd - Accounts

TRACE FIRST LIMITED - Company Information

Print Friendly Version

Trace First Limited

Registered Number:NI065105

For the year ended 31 May 2018

Northern Ireland

Unaudited Financial Statements

For the year ended 31 May 2018

Trace First Limited

Contents Page

Statement of Financial Position

2 to 4

Notes to the Financial Statements

As at 31 May 2018

Trace First Limited

Statement of Financial Position

Registered Number :

NI065105

2017

2018

Notes

Fixed assets

Property, plant and equipment

240,339

243,785

Financial assets

3,236,056

3,476,395

3,479,841

Current assets

Inventories

444,298

195,908

Trade and other receivables

314,164

21,468

673,832

Cash and cash equivalents

921,666

1,139,042

1,432,294

Trade and other payables: amounts falling due within one

year

(1,076,626)

(313,670)

355,668

825,372

Net current assets

Total assets less current liabilities

4,301,767

3,835,509

4,301,767

Net assets

3,835,509

Capital and reserves

Called up share capital

Retained earnings

4,301,715

3,835,457

4,301,767

3,835,509

Shareholders' funds

For the year ended 31 May 2018 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 of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Mrs Anne Morrow Director

Mr Brian Morrow Director

These financial statements were approved and authorised for issue by the Board on 12 February 2018 and were signed by:

The notes form part of these financial statements

1 of 4

For the year ended 31 May 2018

Trace First Limited

Notes to the Financial Statements

Statutory Information

Trace First Limited is a private limited company, limited by shares, domiciled in Northern Ireland, registration number

NI065105.

Registered address:

88A Main Street

Moira

County Down

BT67 0LH

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

25 Reducing balance

Computer Equipment

25 Reducing balance

Furniture and Fittings

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Inventories

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.

2 of 4

For the year ended 31 May 2018

Trace First Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

Equipment

Furniture and

Fittings

Land and

Buildings

Cost or

valuation

At 01 June 2017

268,988

37,177

1,811

230,000

At 31 May 2018

230,000

1,811

37,177

268,988

Provision for depreciation and impairment

At 01 June 2017

25,203

24,455

748

Charge for year

3,446

3,180

266

At 31 May 2018

28,649

27,635

1,014

At 31 May 2018

Net book value

230,000

797

9,542

240,339

At 31 May 2017

230,000

1,063

12,722

243,785

3. Investments held as fixed assets

Other investments

Total

At 01 June 2017

3,236,056

Cost

At 31 May 2018

3,236,056

At 31 May 2018

Net book value

3,236,056

At 01 June 2017

3,236,056

4. Inventories

2017

2018

Stocks

195,908

444,298

3 of 4

For the year ended 31 May 2018

Trace First Limited

Notes to the Financial Statements Continued

5. Trade and other receivables

2017

2018

Trade debtors

17,981

40,760

Other debtors

3,487

273,404

314,164

21,468

6. Trade and other payables: amounts falling due within one year

2017

2018

Trade creditors

412,200

Taxation and social security

67,228

208,075

Other creditors

246,442

456,351

313,670

1,076,626

4 of 4