Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-08-01No description of principal activity22truetrue 11843929 2022-08-01 2023-07-31 11843929 2021-08-01 2022-07-31 11843929 2023-07-31 11843929 2022-07-31 11843929 c:Director1 2022-08-01 2023-07-31 11843929 c:Director2 2022-08-01 2023-07-31 11843929 d:OfficeEquipment 2022-08-01 2023-07-31 11843929 d:OfficeEquipment 2023-07-31 11843929 d:OfficeEquipment 2022-07-31 11843929 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 11843929 d:CurrentFinancialInstruments 2023-07-31 11843929 d:CurrentFinancialInstruments 2022-07-31 11843929 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 11843929 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 11843929 d:ShareCapital 2023-07-31 11843929 d:ShareCapital 2022-07-31 11843929 d:RetainedEarningsAccumulatedLosses 2023-07-31 11843929 d:RetainedEarningsAccumulatedLosses 2022-07-31 11843929 c:FRS102 2022-08-01 2023-07-31 11843929 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 11843929 c:FullAccounts 2022-08-01 2023-07-31 11843929 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11843929 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Registered number: 11843929






ONE CENT TRADING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










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ONE CENT TRADING LIMITED
REGISTERED NUMBER:11843929

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
103
145

  
103
145

Current assets
  

Debtors: amounts falling due within one year
 5 
33
33

Cash at bank and in hand
 6 
576
2,030

  
609
2,063

Creditors: amounts falling due within one year
 7 
(7,850)
(7,850)

Net current liabilities
  
 
 
(7,241)
 
 
(5,787)

Total assets less current liabilities
  
(7,138)
(5,642)

  

Net liabilities
  
(7,138)
(5,642)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(7,238)
(5,742)

  
(7,138)
(5,642)


Page 1

 
ONE CENT TRADING LIMITED
REGISTERED NUMBER:11843929
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 October 2023.




G Deninski
L V Pelov
Director
Director

Page 2

 
ONE CENT TRADING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

One Cent Trading Limited is a private company limited by shares, incorporated in England and Wales.  Its registered office is C/O Venthams Ltd, Unit 8, Phoenix House, Redhill Aerodrome, Kings Mill Lane, Redhill, Surrey, RH1 5JY.
The principal activity is the provision of a securities and commodity dealing platform.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

Although the company has net liabilities, the financial statements have been prepared on the going concern basis due to continued support of the directors.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
ONE CENT TRADING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022: 2).

Page 4

 
ONE CENT TRADING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 August 2022
170



At 31 July 2023

170



Depreciation


At 1 August 2022
25


Charge for the year on owned assets
42



At 31 July 2023

67



Net book value



At 31 July 2023
103



At 31 July 2022
145


5.


Debtors

2023
2022
£
£


Other debtors
33
33

33
33


Included within other debtors due within one year is a loan to Lyudmil Pelov, a director, amounting to £33 (2022 -£33). No interest is due and this balance is repayable on demand.




6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
576
2,030

576
2,030


Page 5

 
ONE CENT TRADING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
6,950
6,950

Accruals and deferred income
900
900

7,850
7,850


 
Page 6