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COMPANY REGISTRATION NUMBER: 06354966
Trendtec Limited
Filleted Unaudited Financial Statements
31 August 2023
Trendtec Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
1
74,082
Cash at bank and in hand
192,697
52,659
---------
---------
192,698
126,741
Creditors: amounts falling due within one year
5
20,110
19,281
---------
---------
Net current assets
172,588
107,460
---------
---------
Total assets less current liabilities
172,588
107,460
---------
---------
Net assets
172,588
107,460
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
172,587
107,459
---------
---------
Shareholders funds
172,588
107,460
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 April 2024 , and are signed on behalf of the board by:
R J Bauer
Director
Company registration number: 06354966
Trendtec Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Godalming Business Centre, Godalming, Surrey, GU71XW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2023
2022
£
£
Trade debtors
74,081
Other debtors
1
1
----
--------
1
74,082
----
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
16,510
15,681
Other creditors
3,600
3,600
--------
--------
20,110
19,281
--------
--------
6. Director's advances, credits and guarantees
As at the year end the shareholder and director owed the company £1 with regards to the issued share capital.