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Registered number: 03248356










TRADENET TECHNOLOGY ASSOCIATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TRADENET TECHNOLOGY ASSOCIATES LIMITED
 

COMPANY INFORMATION


DIRECTOR
DARIO P. DONOGHUE 




COMPANY SECRETARY 
DENISE P. DONOGHUE



REGISTERED NUMBER
03248356



REGISTERED OFFICE
930 HIGH ROAD

LONDON

N12 9RT




ACCOUNTANTS
BAGINSKY COHEN
CHARTERED ACCOUNTANTS

930 HIGH ROAD

LONDON

N12 9RT





 
TRADENET TECHNOLOGY ASSOCIATES LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2
Notes to the Financial Statements
 
 
3 - 5


 
TRADENET TECHNOLOGY ASSOCIATES LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TRADENET TECHNOLOGY ASSOCIATES LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tradenet Technology Associates Limited for the year ended 31 December 2023 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Tradenet Technology Associates Limited in accordance with the terms of our engagement letter dated 4 March 2013Our work has been undertaken solely to prepare for your approval the financial statements of Tradenet Technology Associates Limited  and state those matters that we have agreed to state to the director of Tradenet Technology Associates Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tradenet Technology Associates Limited and its director for our work or for this report. 

It is your duty to ensure that Tradenet Technology Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tradenet Technology Associates Limited. You consider that Tradenet Technology Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Tradenet Technology Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  

BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT
12 April 2024
Page 1

 
TRADENET TECHNOLOGY ASSOCIATES LIMITED
REGISTERED NUMBER: 03248356

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

  

CURRENT ASSETS
  

Debtors More Than One Year
 4 
298,896
298,896

Debtors: amounts falling due within one year
 4 
1,650
6,627

Cash at bank and in hand
 5 
265,959
283,864

  
566,505
589,387

Creditors: amounts falling due within one year
 6 
(64,729)
(92,958)

NET CURRENT ASSETS
  
 
 
501,776
 
 
496,429

TOTAL ASSETS LESS CURRENT LIABILITIES
  
501,776
496,429

Creditors: amounts falling due after more than one year
 7 
(14,996)
(25,507)

  

NET ASSETS
  
486,780
470,922


CAPITAL AND RESERVES
  

Called up share capital 
 9 
500
500

Profit and loss account
 10 
486,280
470,422

  
486,780
470,922


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 April 2024.


DARIO P. DONOGHUE
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
TRADENET TECHNOLOGY ASSOCIATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.3

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.4

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
1.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.7

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.8

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

 
TRADENET TECHNOLOGY ASSOCIATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.



JUDGMENTS IN APPLYING ACCOUTNING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 1, management is required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other factors that are considered to be relevant.  Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.  Revisions to accounting estimates are recognised in the period in which the estimate is revise affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.  


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


DEBTORS

2023
2022
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
298,896
298,896


2023
2022
£
£

DUE WITHIN ONE YEAR

Trade debtors
1,650
3,615

Other debtors
-
(1)

Prepayments and accrued income
-
3,013

1,650
6,627



5.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
265,959
283,864


Page 4

 
TRADENET TECHNOLOGY ASSOCIATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
9,760

Corporation tax
4,189
4,364

Other taxation and social security
3,636
4,332

Other creditors
46,366
74,064

Accruals and deferred income
538
438

64,729
92,958



7.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,996
25,507



8.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
9,760



Amounts falling due after more than 5 years

Bank loans
14,996
25,507

24,996
35,267



9.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



500 (2022 - 500) Ordinary shares of £1.00 each
500
500



10.


RESERVES

Profit & loss account

This includes all current and prior period retained profit and losses. 

Page 5