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COMPANY REGISTRATION NUMBER: 08097595
T & N Trade Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2023
T & N Trade Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
52,558
48,004
Cash at bank and in hand
910
21,661
--------
--------
53,468
69,665
Creditors: amounts falling due within one year
5
52,081
65,812
--------
--------
Net current assets
1,387
3,853
-------
-------
Total assets less current liabilities
1,387
3,853
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,287
3,753
-------
-------
Shareholders funds
1,387
3,853
-------
-------
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 30 June 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:
C Casini
Director
Company registration number: 08097595
T & N Trade Limited
Notes to the Financial Statements
Year ended 30 June 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 11 Accommodation Road, London, NW11 8EP.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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.
4. Debtors
2023
2022
£
£
Trade debtors
52,458
42,051
Other debtors
100
5,953
--------
--------
52,558
48,004
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
48,428
63,799
Social security and other taxes
1,288
2,013
Other creditors
2,365
--------
--------
52,081
65,812
--------
--------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
C Casini
36
( 2,402)
( 2,366)
----
-------
-------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
C Casini
( 27,149)
27,185
36
--------
--------
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