Tangreen Commodities Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 12207432 (England and Wales)
Tangreen Commodities Limited
Company Information
Director
L Verwey
Company number
12207432
Registered office
Hope Chapel
Hope Street
Sandbach
Cheshire
CW11 1BA
Tangreen Commodities Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Tangreen Commodities Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Stock
427,833
297,807
Debtors
4
327,815
694,100
Cash at bank and in hand
139,250
24,950
894,898
1,016,857
Creditors: amounts falling due within one year
5
(1,189,437)
(1,142,298)
Net current liabilities
(294,539)
(125,441)
Capital and reserves
Called up share capital
6
4
4
Profit and loss reserves
(294,543)
(125,445)
Total equity
(294,539)
(125,441)

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 2023 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 members have 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 20 September 2024
L Verwey
Director
Company Registration No. 12207432
Tangreen Commodities Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

Tangreen Commodities Limited is a private company limited by shares incorporated in England and Wales. The registered office and principal place of business is Hope Chapel, Hope Street, Sandbach, Cheshire, CW11 1BA.

1.1
Accounting convention

These financial statements have been prepared in accordance with section 1A of 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 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 pound.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Related party, M&S Logistics Limited has confirmed that they will continue to support the company for a period of at least 12 months from the date of approval of these financial statements and that there is no intention to require repayment of any of the trade creditor within 12 months of the balance sheet date if the funds are not available to repay the loan.true

 

Therefore, at the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months following the approval of these financial statements. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company only has basic financial instruments at amortised cost, with no financial instruments classified as other or basic instrument measured at fair value.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Tangreen Commodities Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Taxation

The company has tax losses of £294,543 (2022: £125,445) available for offset against future trading profits.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
194,260
531,856
Other debtors
5,179
8,823
Prepayments and accrued income
128,376
153,421
327,815
694,100
Tangreen Commodities Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,189,437
1,109,707
Other creditors
-
31,591
Accruals and deferred income
-
0
1,000
1,189,437
1,142,298
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
4
4
7
Related Party Transactions

Transactions with shareholders

At the year end, included in trade creditors is an amount of £1,179,294 (2022: £1,098,954) owed to M&S Logistics Limited, a member of a company holding shares in Tangreen Commodities Limited, relating to services provided to the company.

 

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