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REGISTERED NUMBER: 07678618 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

SKF Trading Limited

SKF Trading Limited (Registered number: 07678618)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SKF Trading Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N Bower
O Olafare
D Steppings





REGISTERED OFFICE: 181 Queen Victoria Street
London
EC4V 4EG





REGISTERED NUMBER: 07678618 (England and Wales)





ACCOUNTANTS: Alexander Associates
24A Aldermans Hill
Palmers Green
London
N13 4PN

SKF Trading Limited (Registered number: 07678618)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,459 2,678
2,459 2,678

CURRENT ASSETS
Debtors 6 116,806 212,941
Investments 7 55,710 50,000
Cash at bank and in hand 123,387 220,650
295,903 483,591
CREDITORS
Amounts falling due within one year 8 57,934 108,979
NET CURRENT ASSETS 237,969 374,612
TOTAL ASSETS LESS CURRENT
LIABILITIES

240,428

377,290

PROVISIONS FOR LIABILITIES 9 615 509
NET ASSETS 239,813 376,781

CAPITAL AND RESERVES
Called up share capital 7 3
Retained earnings 239,806 376,778
239,813 376,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SKF Trading Limited (Registered number: 07678618)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





N Bower - Director


SKF Trading Limited (Registered number: 07678618)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

SKF Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SKF Trading Limited (Registered number: 07678618)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 68,846
AMORTISATION
At 1 January 2023
and 31 December 2023 68,846
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 3,786 21,084 24,870
DEPRECIATION
At 1 January 2023 3,274 18,918 22,192
Charge for year 128 91 219
At 31 December 2023 3,402 19,009 22,411
NET BOOK VALUE
At 31 December 2023 384 2,075 2,459
At 31 December 2022 512 2,166 2,678

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 116,806 212,941

SKF Trading Limited (Registered number: 07678618)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Unlisted investments 55,710 50,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors (1 ) (2 )
Taxation and social security 53,624 104,768
Other creditors 4,311 4,213
57,934 108,979

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 615 509

Deferred
tax
£   
Balance at 1 January 2023 509
Provided during year 106
Balance at 31 December 2023 615