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REGISTERED NUMBER: 09351692 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Momentum Trading Ltd

Momentum Trading Ltd (Registered number: 09351692)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Momentum Trading Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTOR: Abdelatif Lachab





REGISTERED OFFICE: 207 Regent Street 3rd Floor
London
W1B 3HH





REGISTERED NUMBER: 09351692 (England and Wales)

Momentum Trading Ltd (Registered number: 09351692)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,700 2,167

CURRENT ASSETS
Stocks 664,878 519,836
Debtors 5 39,268 69,759
Investments 6 1,825,435 2,293,661
Cash at bank 3,090 4,641
2,532,671 2,887,897
CREDITORS
Amounts falling due within one year 7 39,186 1,284,570
NET CURRENT ASSETS 2,493,485 1,603,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,496,185

1,605,494

PENSION LIABILITY (880,000 ) (366,000 )
NET ASSETS 1,616,185 1,239,494

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,616,184 1,239,493
1,616,185 1,239,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Momentum Trading Ltd (Registered number: 09351692)

Balance Sheet - continued
31 December 2022


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

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

The financial statements were approved by the director and authorised for issue on 14 November 2023 and were signed by:





Abdelatif Lachab - Director


Momentum Trading Ltd (Registered number: 09351692)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Momentum Trading Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pensions

For a defined benefit scheme, the liability recorded in the balance sheet is the present value of the defined obligation at that date. The defined benefit obligation is calculated on an annual basis by independent actuaries.
Actuarial gains and losses are recognised in full in the period in which they occur and are shown in Other Comprehensive Income.
Current and past service costs, along with settlements or curtailments, are charged to the Income Statement. Interest on pension plan liabilities are recognised within finance expense.

Momentum Trading Ltd (Registered number: 09351692)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Pension cost
Employer Pension Obligations
The Company has agreed to fund a defined benefit pension scheme in respect of key employees. The most recent actuarial valuation of the obligations of £880,000 (2021 - £366,000) was on 31/12/2022. During the year the expense incurred was £30,000 (2021 - £5,000).
The principal assumptions used are:
- Discount rate – 4.6%
- Inflation RPI – 3.1%
- Inflation CPI – 2.2%
- Pre and Post Retirement mortality – S3PMA tables with improvements in the CMI 2020 model and a long term rate of improvement of 1.00%

2022 2021
Present value of defined benefit obligations £880,000 £366,000
Fair Value of schemes assets £0 £0
Liability recognised in the balance sheet £880,000 £366,000

Movements in the present value of the defined benefit obligations were as follows:
2022
At the beginning of the year £366,000
Current Service Cost £1,235,000
Interest Cost £30,000
Actuarial gain (£751,000)
At the end of year £880,000

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 4,141
Additions 1,256
At 31 December 2022 5,397
DEPRECIATION
At 1 January 2022 1,974
Charge for year 723
At 31 December 2022 2,697
NET BOOK VALUE
At 31 December 2022 2,700
At 31 December 2021 2,167

Momentum Trading Ltd (Registered number: 09351692)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors 39,268 69,759

6. CURRENT ASSET INVESTMENTS
31.12.22 31.12.21
£    £   
Investments 1,825,435 2,293,661

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors - 2,692
Taxation and social security 36,853 44,056
Other creditors 2,333 1,237,822
39,186 1,284,570

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £5,391 (2021 - £26,000) were paid to the director .