Registered number |
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10ACT Limited trading as TrackBack | |
Report and accounts | |
Contents | |
Page | |
Company information | 1 |
Directors' report | 2 |
Profit and loss account | 3 |
Balance sheet | 4 |
Notes to the accounts | 5-8 |
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Company Information |
Directors |
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Registered office |
1st Floor, Epsilon House |
Enterprise Road |
Southampton Science Park |
Southampton |
SO16 7NS |
Registered number |
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Directors' Report | |||||||
The directors present their report and accounts for the year ended |
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Principal activities | |||||||
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Review of Business | |||||||
The company experienced a reduction in turnover in the last two years due to the loss of a major customer. However, the business was successful in winning important new clients in 2019 which, together with a restructuring completed at the beginning of 2020, enabled the company to begin the current year with a cost base more aligned with its revenue. The impact of COVID19 on the global economy in 2020 has been very significant. In the face of this crisis the directors have taken advantage of Government financial support to help the business through this period, as well as securing additional funding from its bank and shareholders. The directors continually review the company's plans and financial forecasts and whilst it remains difficult to determine with certainty the longer term impact of the economic situation on the company's customers, suppliers and employees, they believe, at the time of approving the financial statements, that the company has adequate resources to continue its operations for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
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Directors | |||||||
The following persons served as directors during the year: | |||||||
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Small company provisions | |||||||
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This report was approved by the board on |
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Mr G D Thomas | |||||||
Director | |||||||
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Registered number: 05617099 | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2019 | 2018 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 |
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Investments | 4 |
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Current assets | |||||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 6 | ( |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Creditors: amounts falling due after more than one year | 7 | ( |
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Provisions for liabilities - deferred tax | ( |
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Net liabilities | ( |
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Capital and reserves | |||||||
Called up share capital |
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Profit and loss account | ( |
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Shareholders' funds | ( |
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Mr G D Thomas | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
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Tangible fixed assets | ||||||||
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Office furniture & equipment | 20% straight line | |||||||
Computer equipment & software | 33.33% straight line | |||||||
Investments | ||||||||
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Foreign currency translation | ||||||||
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Leased assets | ||||||||
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Pensions | ||||||||
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2 | Employees | 2019 | 2018 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Tangible fixed assets | |||||||
Office furniture & equipment | Computer equipment & software | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 January 2019 |
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Additions | - |
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Disposals | - | ( |
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At 31 December 2019 |
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Depreciation | ||||||||
At 1 January 2019 |
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Charge for the year |
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On disposals | - | ( |
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At 31 December 2019 |
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Net book value | ||||||||
At 31 December 2019 |
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At 31 December 2018 |
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4 | Investments | |||||||
Investments in | ||||||||
subsidiary | ||||||||
undertakings | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 January 2019 | 24,349 | |||||||
Additions | 1 | |||||||
At 31 December 2019 | 24,350 | |||||||
5 | Debtors | 2019 | 2018 | |||||
£ | £ | |||||||
Trade debtors |
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Deferred tax asset | - |
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Other debtors |
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Amounts due after more than one year included above |
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6 | Creditors: amounts falling due within one year | 2019 | 2018 | |||||
£ | £ | |||||||
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other taxes and social security costs |
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Other creditors |
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The bank overdraft is secured by a fixed and floating charge over the assets of the company. | ||||||||
7 | Creditors: amounts falling due after one year | 2019 | 2018 | |||||
£ | £ | |||||||
Other creditors |
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8 | Other financial commitments | 2019 | 2018 | |||||
£ | £ | |||||||
Total future minimum payments under non-cancellable operating leases |
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9 | Related party transactions | |||||||
Mr J A Horwood provides long term finance to the Company. During the year, he provided the Company with loans of £6,000 (2018: £168,049) and the Company repaid amounts totalling £nil (2018: £50,000). The balance owing by the Company at 31 December 2019 was £124,049 (2018: £118,049). In addition, he has given a personal guarantee in relation to banking facilities provided to the Company. During the year, Mr J A Horwood received dividends from the Company of £nil (2018: £61,459). Mr W J H Murray - Director During the year, Mr W J H Murray received dividends from the Company of £nil (2018: £3,651). The balance owing by the Company at 31 December 2019 was £nil (2018: £3,651). Mrs P M Horwood - Director During the year, Mrs P M Horwood received dividends from the Company of £nil (2018: £56,590). |
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10 | Other information | |||||||
10ACT Limited trading as TrackBack is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
1st Floor, Epsilon House | ||||||||
Enterprise Road | ||||||||
Southampton Science Park | ||||||||
Southampton | ||||||||
SO16 7NS |