16 March 2022 false No description of principal activity Taxfiler 2023.9 03840134business:CompanyLimitedByGuarantee2022-03-162023-03-15 038401342022-03-15 038401342022-03-162023-03-15 03840134business:AuditExempt-NoAccountantsReport2022-03-162023-03-15 03840134business:FilletedAccounts2022-03-162023-03-15 038401342023-03-15 038401342022-03-15 03840134core:WithinOneYear2023-03-15 03840134core:WithinOneYear2022-03-15 03840134core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-15 03840134core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-15 03840134core:PreviouslyStatedAmount2023-03-15 03840134core:PreviouslyStatedAmount2022-03-15 03840134business:SmallEntities2022-03-162023-03-15 03840134business:Director12022-03-162023-03-15 03840134countries:EnglandWales2022-03-162023-03-15 03840134business:RegisteredOffice2022-03-162023-03-15 03840134core:PlantMachinery2022-03-162023-03-15 03840134core:PlantMachinery2022-03-15 03840134core:PlantMachinery2023-03-15 038401342021-01-012022-03-15 iso4217:GBP xbrli:pure
Company Registration No. 03840134 (England and Wales)
THE TRANSEUROPEAN CENTRE OF COMMERCE & FINANCE LIMITED Unaudited accounts for the year ended 15 March 2023
THE TRANSEUROPEAN CENTRE OF COMMERCE & FINANCE LIMITED Unaudited accounts Contents
Page
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THE TRANSEUROPEAN CENTRE OF COMMERCE & FINANCE LIMITED Statement of financial position as at 15 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
85 
Current assets
Debtors
3,450 
788 
Cash at bank and in hand
- 
7,401 
3,450 
8,189 
Creditors: amounts falling due within one year
(15,785)
(18,418)
Net current liabilities
(12,335)
(10,229)
Net liabilities
(12,335)
(10,144)
Reserves
Profit and loss account
(12,335)
(10,144)
Members' funds
(12,335)
(10,144)
For the year ending 15 March 2023 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by
Natalia Kirsanova Director Company Registration No. 03840134
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THE TRANSEUROPEAN CENTRE OF COMMERCE & FINANCE LIMITED Notes to the Accounts for the year ended 15 March 2023
1
Statutory information
THE TRANSEUROPEAN CENTRE OF COMMERCE & FINANCE LIMITED is a private company, limited by guarantee, registered in England and Wales, registration number 03840134. The registered office is 167-169 GREAT PORTLAND STREET, 5TH FLOOR, LONDON, W1W 5PF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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 statement of financial position date.
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THE TRANSEUROPEAN CENTRE OF COMMERCE & FINANCE LIMITED Notes to the Accounts for the year ended 15 March 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 16 March 2022
13,920 
At 15 March 2023
13,920 
Depreciation
At 16 March 2022
13,835 
Charge for the year
85 
At 15 March 2023
13,920 
Net book value
At 15 March 2023
- 
At 15 March 2022
85 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
637 
Other debtors
3,450 
151 
3,450 
788 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
15,385 
Taxes and social security
- 
8 
Other creditors
15,435 
- 
Loans from directors
- 
2,500 
Accruals
350 
525 
15,785 
18,418 
7
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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THE TRANSEUROPEAN CENTRE OF COMMERCE & FINANCE LIMITED Notes to the Accounts for the year ended 15 March 2023
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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