Company registration number 09912553 (England and Wales)
TRADELINK (ILFORD) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
TRADELINK (ILFORD) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
TRADELINK (ILFORD) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
54,064
40,491
Cash at bank and in hand
45,541
90,006
99,605
130,497
Creditors: amounts falling due within one year
4
(58,144)
(97,169)
Net current assets
41,461
33,328
Creditors: amounts falling due after more than one year
5
(12,144)
Net assets
29,317
33,328
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
29,316
33,327
Total equity
29,317
33,328
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 13 March 2024
Mr G Bacheta
Director
Company Registration No. 09912553
TRADELINK (ILFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
Tradelink (Ilford) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Chester Warehouse, Chester Road, Seven Kings, Ilford, IG3 8PT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for sale of cars and is shown net of VAT where applicable.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction cost.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction cost.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
TRADELINK (ILFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
54,064
40,491
4
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
4,937
22,104
Trade creditors
301
Corporation tax
8,958
7,891
Other taxation and social security
325
Other creditors
43,948
66,849
58,144
97,169
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
12,144
6
Related party transactions
At the year end the company owed £37,768 (2021: £37,544) to the director, in the form of an interest free loan which is repayable on demand.
At the year end the company was owed £8,792 (2021: £40,412) by Rocky Worldwide Ltd, a company under common control, in the form of an interest free loan which is repayable on demand.
At the year end the company was owed £20,000 by Bacheta Racing Ltd, a company under common control, in the form of an interest free loan which is repayable on demand.
At the year end the company owed £3,680 (2021: £28,680) to B & G Properties (GB) Ltd, a company under common control, in the form of an interest free loan which is repayable on demand.