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Registration number: NI613080

TTE Global Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

TTE Global Limited

(Registration number: NI613080)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

272

407

Current assets

 

Debtors

5

30,364

44,012

Cash at bank and in hand

 

81,571

29,511

 

111,935

73,523

Creditors: Amounts falling due within one year

6

(77,118)

(53,525)

Net current assets

 

34,817

19,998

Total assets less current liabilities

 

35,089

20,405

Provisions for liabilities

(52)

(77)

Net assets

 

35,037

20,328

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

34,937

20,228

Shareholders' funds

 

35,037

20,328

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

TTE Global Limited

(Registration number: NI613080)
Balance Sheet as at 30 June 2023

Approved and authorised by the Board on 6 March 2024 and signed on its behalf by:
 

.........................................
Ms Julia Fielden
Director

.........................................
Mr Ulf Elander
Director

 
     
 

TTE Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 83 Shore Road, Greenisland, Carrickfergus, County Antrim, BT38 8TZ.

These financial statements were authorised for issue by the Board on 6 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

TTE Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

TTE Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

677

677

At 30 June 2023

677

677

Depreciation

At 1 July 2022

270

270

Charge for the year

135

135

At 30 June 2023

405

405

Carrying amount

At 30 June 2023

272

272

At 30 June 2022

407

407

5

Debtors

Current

2023
£

2022
£

Trade debtors

29,875

43,920

Other debtors

489

92

 

30,364

44,012

6

Creditors: due within one year

2023
£

2022
£

Trade creditors

22,551

145

Directors current account

45,560

41,040

Other creditors

9,007

12,340

77,118

53,525

 

TTE Global Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100