1 January 2022 v2023.21.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00xbrli:purexbrli:sharesiso4217:GBP109578702022-01-012022-12-31109578702022-12-3110957870bus:Director12022-01-012022-12-3110957870bus:Director22022-01-012022-12-3110957870bus:Director32022-01-012022-12-3110957870bus:Director32022-12-3110957870bus:RegisteredOffice2022-01-012022-12-31109578702021-01-012021-12-31109578702021-12-3110957870core:WithinOneYear2022-12-3110957870core:WithinOneYear2021-12-3110957870core:AfterOneYear2022-12-3110957870core:AfterOneYear2021-12-3110957870core:ShareCapital2022-12-3110957870core:ShareCapital2021-12-3110957870core:RetainedEarningsAccumulatedLosses2022-12-3110957870core:RetainedEarningsAccumulatedLosses2021-12-311095787012022-01-012022-12-3110957870countries:EnglandWales2022-01-012022-12-3110957870bus:AuditExempt-NoAccountantsReport2022-01-012022-12-3110957870bus:PrivateLimitedCompanyLtd2022-01-012022-12-3110957870bus:SmallEntities2022-01-012022-12-3110957870bus:AbridgedAccounts2022-01-012022-12-31
Company registration number:
10957870
Longtail Trading Solutions Limited
Unaudited Abridged Financial Statements for the year ended
31 December 2022
Longtail Trading Solutions Limited
Officers and Professional Advisers
Year ended
31 December 2022
Directors
G Melamet
I Zanger
HMSA Corporate Services (Uk) Limited
(resigned
28 March 2023
)
Registered office
Milner House
14 Manchester Square
London
W1U 3PP
England
Longtail Trading Solutions Limited
Directors' Report
Year ended
31 December 2022
The directors present their report and the unaudited
abridged financial statements
of the company for the year ended 31 December 2022.

Directors

The directors who served the company during the year were as follows:
G Melamet
I Zanger
HMSA Corporate Services (Uk) Limited
(resigned
28 March 2023
)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
26 September 2023
and signed on behalf of the board by:
G Melamet
Director
Longtail Trading Solutions Limited
Abridged Income Statement
Year ended
31 December 2022
20222021
££
Gross profit
282,050
 
201,672
 
Distribution costs
(105,435
)
(129,187
)
Administrative expenses
(139,879
)
(86,981
)
Operating profit/(loss)
36,736
 
(14,496
)
Profit/(loss) before tax
36,736
 
(14,496
)
Tax on profit/(loss)
(6,980
) -  
Profit/(loss) for the financial year
29,756
 
(14,496
)
The company has no other recognised items of income or expense other than the results for the year as set out above.
Longtail Trading Solutions Limited
Abridged Statement of Financial Position
31 December 2022
20222021
££
Current assets    
Stocks
207,571
 
27,241
 
Debtors
64,323
 
1,094
 
Cash at bank and in hand
117,251
 
75,610
 
389,145
 
103,945
 
Creditors: amounts falling due within one year
(106,031
)
(69,076
)
Net current assets
283,114
 
34,869
 
Total assets less current liabilities 283,114   34,869  
Creditors: amounts falling due after more than one year
(305,400
)
(86,911
)
Net liabilities
(22,286
)
(52,042
)
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(22,287
)
(52,043
)
Shareholders deficit
(22,286
)
(52,042
)
For the year ending
31 December 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended
31 December 2022
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
26 September 2023
, and are signed on behalf of the board by:
G Melamet
Director
Company registration number:
10957870
Longtail Trading Solutions Limited
Notes to the Abridged Financial Statements
Year ended
31 December 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Milner House
,
14 Manchester Square
,
London
,
W1U 3PP
, England.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2021: Nil).