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Company Registration No. 12325267 (England and Wales)
MyTradePay Limited Unaudited accounts for the year ended 30 November 2023
MyTradePay Limited Unaudited accounts Contents
Page
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MyTradePay Limited Company Information for the year ended 30 November 2023
Director
Graham Robert Seddon
Company Number
12325267 (England and Wales)
Registered Office
First Floor 129 High Street Guildford GU1 3AA UK
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MyTradePay Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
35,763 
20,197 
Cash at bank and in hand
35 
25,397 
35,798 
45,594 
Creditors: amounts falling due within one year
(11,217)
(10,694)
Net current assets
24,581 
34,900 
Total assets less current liabilities
24,581 
34,900 
Creditors: amounts falling due after more than one year
(18,333)
(27,500)
Net assets
6,248 
7,400 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
6,247 
7,399 
Shareholders' funds
6,248 
7,400 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 August 2024 and were signed on its behalf by
Graham Robert Seddon Director Company Registration No. 12325267
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MyTradePay Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
MyTradePay Limited is a private company, limited by shares, registered in England and Wales, registration number 12325267. The registered office is First Floor, 129 High Street, Guildford, GU1 3AA, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the director has not had to make any judgements or key estimations.
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MyTradePay Limited Notes to the Accounts for the year ended 30 November 2023
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
4,765 
Other debtors
35,763 
15,432 
35,763 
20,197 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Trade creditors
- 
351 
Taxes and social security
363 
339 
Loans from directors
854 
4 
11,217 
10,694 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
18,333 
27,500 
The company has entered into a coronavirus bounce back loan agreement for a facility of £50,000 which was fully drawn down on 29 July 2020. The loan bears interest at 2.5% pa. The loan is unsecured and repayable in monthly instalments from September 2021, with the final instalment due in September 2026.
7
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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