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REGISTERED NUMBER: 09431685 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VIA.TRADE LTD

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 17


VIA.TRADE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G S De Mowbray
J R G O'Donnell





REGISTERED OFFICE: 2nd Floor
Windsor House
40/41 Great Castle Street
London
W1W 8LU





REGISTERED NUMBER: 09431685 (England and Wales)





AUDITORS: Jamieson Stone LLP
Windsor House
40/41 Great Castle Street
London
W1W 8LU

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their strategic report of the company and the group for the year ended 31 December 2023.

REVIEW OF BUSINESS
The group's principal activities are the supply of machines, engines, drilling equipment & parts and finance solutions to the construction, mining, infrastructure and renewables industries mainly in Africa, Latin America and Central Asia.

At country level, we support our customers by working with experienced and knowledgeable local businesses combining an understanding of local markets with our knowledge of industrial equipment, supply chain, logistics, finance and technology to offer a uniquely competitive solution to our customers. Our business is underpinned by a desire to increase trade between countries becoming a trusted partner with our suppliers and end customers to deliver improved business performance throughout the supply chain particularly at a local.

Key performance indicators
In line with our operating objectives the group is focused on increasing shareholder value by growing revenue,
improving EBITDA and developing market leading technology that delivers accurate data to end users. The group uses Sales, Gross Profit, Net Profit, Free Cash Flow and FX KPIs to manage its business performance. Where relevant, KPIs are used as the primary measures of whether the group is achieving its objectives, however the scale and variety of operations means that many other detailed performance measures are used in addition.

Sustainability
Sustainability is an integral part of our business and underpins our strategy and operations. There is a very high level of awareness of the importance of sustainability practices for the future of the group and of our customers amongst our employees. We encourage business travel only when strictly necessary to meet with customers and we have a hybrid working model for our employees. We have made some progress in documenting and measuring sustainability policies and the company is firmly committed to the spirit of sustainability in its operations. Significantly we have developed a program to work with customers to resell redundant and excess machines and machine parts, resell second hand parts and to refurbish equipment prolonging its useful life.

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors have considered and reviewed the principal business risks relating to the group. These risks are
outlined below:

Foreign exchange risks
The group's trading activities are substantially carried out in US Dollars and Euros. The group has a risk from
movements in exchange rates as the financial statements are stated in GB Pounds. In order to mitigate the risk of foreign currency exposure on significant transactions the group uses forward currency contracts where appropriate.

Credit risks
The group's main financial assets are cash at bank, trade and other debtors. The group has mitigated credit risk by
operating bank accounts with different financial institutions, and by carrying out customer credit checks and setting
customer credit limits.

Market risks
The markets in which the group operate are competitive and there is a risk of the group losing sales and key
customers. The group competes with a large number of equipment suppliers both in the United Kingdom, and
internationally. The group mitigates this risk by providing a high level of customer service and offering innovative
customer financing solutions. In addition some of the countries where the group operates have varying levels of
political and economic uncertainty. The group mitigates these risks by doing business in multiple countries and
geographies, working closely with its local partners, customers and financial partners to deliver local cost effective
business solutions.

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


Operating risks
The group principally supplies plant, machinery and spare parts and is dependent on continued demand for, and supply of, products. The group is seeking mitigate this risk by developing innovative financial solutions for customers that enables the customer to order at scale and it is continually working with other suppliers to expand its supplier base. In addition the group is investing in the development of a technology platform that will enable customers to get product pricing, availability, logistics and delivery information with limited manual intervention.

Key person risk
The group has a high dependency on a number of its key executives and is working to reduce this dependency with a number of new hires as the business grows.

Competition
The group operates in a very competitive market place with competitors dropping margins to secure market share. The group mitigates this risk by working closely with its local partners to ensure that it is competitive, offering outstanding customer service and developing technology that better serves customer reporting requirements. In addition the development of financial solutions that enables customers to better meet their commercial needs is a competitive differentiator. Management interact regularly with customer and use information gleaned from these meetings to improve its services to customers.

Economy
The general economic conditions and other similar factors including access to credit, unemployment rates, consumer confidence, and other macroeconomic factors impact on the business. A challenging economic and financial situation and uncertainty regarding potential economic recovery could undermine customer demand. A loss of customers or a decline in sales could have an adverse effect on the group's financial position, results of operations and cash flow and may ultimately affect its ability to meet its growth targets.

Capital risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing business operations and future developments the group uses a mixture of long term and short term debt finance.

ON BEHALF OF THE BOARD:





G S De Mowbray - Director


24 September 2024

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

G S De Mowbray
J R G O'Donnell

Other changes in directors holding office are as follows:

A J Colquhoun ceased to be a director after 31 December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Jamieson Stone LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





G S De Mowbray - Director


24 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VIA.TRADE LTD

Opinion
We have audited the financial statements of Via.Trade Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VIA.TRADE LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
- we gained an understanding of the legal and regulatory framework applicable to the group and the industry in
which it operates and considered the risk of acts by the group being contrary to applicable laws and regulations,
including fraud. We focused on laws and regulations that could give rise to a material misstatement in the
financial statements, including, but not limited to, the Companies Act 2006 and tax legislation.
- we assessed the susceptibility of the group's financial statements to material misstatement, including how fraud
might occur, by understanding where there was a susceptibility of fraud.
- we obtained an understanding of the procedures and controls that the group has established to address risks
identified, or that otherwise prevent, deter and detect fraud. Where the risk was considered to be higher, we
performed audit procedures to address each identified fraud risk.
- based on the understanding obtained we designed audit procedures to identify non-compliance with the laws and
regulations, as noted above. This included enquiries of management, and reviewing relevant correspondence with
regulators and authorities.
- we tested manual journal entries, including those to revenue, focusing on journal entries containing
characteristics of audit interest.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VIA.TRADE LTD

Auditors' responsibilities for the audit of the financial statements (continued)
- we tested and challenged the key estimates and judgements made by management in preparing the financial
statements for indications of bias or management override when presenting the results and financial position of
the company.
- we also communicated relevant identified laws and regulations and potential fraud risks to all engagement team
members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout
the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michael Stone (Senior Statutory Auditor)
for and on behalf of Jamieson Stone LLP
Windsor House
40/41 Great Castle Street
London
W1W 8LU

24 September 2024

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

TURNOVER 22,028,935 34,082,828

Cost of sales (19,919,828 ) (32,218,220 )
GROSS PROFIT 2,109,107 1,864,608

Administrative expenses (2,045,554 ) (1,401,942 )
OPERATING PROFIT 4 63,553 462,666

Interest receivable and similar income 47,820 107,452
111,373 570,118

Interest payable and similar expenses 5 (80,283 ) (53,385 )
PROFIT BEFORE TAXATION 31,090 516,733

Tax on profit 6 (8,117 ) (104,102 )
PROFIT FOR THE FINANCIAL YEAR 22,973 412,631
Profit attributable to:
Owners of the parent 22,973 412,631

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 22,973 412,631


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

22,973

412,631

Total comprehensive income attributable to:
Owners of the parent 22,973 412,631

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

CONSOLIDATED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 8 79,775 -
Tangible assets 9 7,743 21,774
Investments 10 - -
87,518 21,774

CURRENT ASSETS
Stocks 11 378,265 581,328
Debtors 12 24,184,813 9,013,659
Cash at bank and in hand 4,060,238 5,219,389
28,623,316 14,814,376
CREDITORS
Amounts falling due within one year 13 (27,276,573 ) (13,199,287 )
NET CURRENT ASSETS 1,346,743 1,615,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,434,261

1,636,863

CREDITORS
Amounts falling due after more than one
year

14

(537,660

)

(776,493

)

PROVISIONS FOR LIABILITIES 16 (15,656 ) (2,398 )
NET ASSETS 880,945 857,972

CAPITAL AND RESERVES
Called up share capital 17 519,833 519,833
Capital redemption reserve 18 250 250
Retained earnings 18 360,862 337,889
SHAREHOLDERS' FUNDS 880,945 857,972

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





G S De Mowbray - Director


VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

COMPANY BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 - -
Investments 10 522,488 522,488
522,488 522,488

CURRENT ASSETS
Debtors 12 55 55
Cash in hand 110 110
165 165
CREDITORS
Amounts falling due within one year 13 (139 ) (139 )
NET CURRENT ASSETS 26 26
TOTAL ASSETS LESS CURRENT
LIABILITIES

522,514

522,514

CAPITAL AND RESERVES
Called up share capital 17 519,833 519,833
Capital redemption reserve 250 250
Retained earnings 2,431 2,431
SHAREHOLDERS' FUNDS 522,514 522,514

Company's profit for the financial year - 954,213

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





G S De Mowbray - Director


VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 500 (74,742 ) 250 (73,992 )

Changes in equity
Issue of share capital 519,333 - - 519,333
Total comprehensive income - 412,631 - 412,631
Balance at 31 December 2022 519,833 337,889 250 857,972

Changes in equity
Total comprehensive income - 22,973 - 22,973
Balance at 31 December 2023 519,833 360,862 250 880,945

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 500 (951,782 ) 250 (951,032 )

Changes in equity
Issue of share capital 519,333 - - 519,333
Total comprehensive income - 954,213 - 954,213
Balance at 31 December 2022 519,833 2,431 250 522,514

Changes in equity
Balance at 31 December 2023 519,833 2,431 250 522,514

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (635,566 ) 2,765,639
Interest paid (80,283 ) (53,385 )
Tax paid (126,996 ) (44,023 )
Net cash from operating activities (842,845 ) 2,668,231

Cash flows from investing activities
Purchase of intangible fixed assets (75,906 ) -
Purchase of tangible fixed assets (3,843 ) (7,556 )
Sale of tangible fixed assets 2,759 -
Interest received 47,820 107,452
Net cash from investing activities (29,170 ) 99,896

Cash flows from financing activities
Loan repayments in year (237,649 ) (751,844 )
Amount withdrawn by directors - 3,000
Share issue - 519,333
Net cash from financing activities (237,649 ) (229,511 )

(Decrease)/increase in cash and cash equivalents (1,109,664 ) 2,538,616
Cash and cash equivalents at beginning of
year

2

5,169,902

2,631,286

Cash and cash equivalents at end of year 2 4,060,238 5,169,902

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 31,090 516,733
Depreciation charges 12,563 99,238
Profit on disposal of fixed assets (1,466 ) -
Finance costs 80,283 53,385
Finance income (47,820 ) (107,452 )
74,650 561,904
Decrease/(increase) in stocks 203,063 (334,603 )
Increase in trade and other debtors (15,165,850 ) (6,052,561 )
Increase in trade and other creditors 14,252,571 8,590,899
Cash generated from operations (635,566 ) 2,765,639

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 4,060,238 5,219,389
Bank overdrafts - (49,487 )
4,060,238 5,169,902
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 5,219,389 2,707,127
Bank overdrafts (49,487 ) (75,841 )
5,169,902 2,631,286


VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 5,219,389 (1,159,151 ) 4,060,238
Bank overdrafts (49,487 ) 49,487 -
5,169,902 (1,109,664 ) 4,060,238
Debt
Debts falling due within 1 year (234,977 ) (1,184 ) (236,161 )
Debts falling due after 1 year (776,493 ) 238,833 (537,660 )
(1,011,470 ) 237,649 (773,821 )
Total 4,158,432 (872,015 ) 3,286,417

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

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

1. STATUTORY INFORMATION

Via.Trade Ltd 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is the total amount receivable by the company excluding value added tax, in the ordinary course of its business for goods supplied and services provided.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Office equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 961,970 854,014

The average number of employees during the year was as follows:
2023 2022

Management 1 1
Administration and Marketing 12 12
13 13

The average number of employees by undertakings that were proportionately consolidated during the year was 13 (2022 - 13 ) .

2023 2022
£    £   
Directors' remuneration 143,062 200,326

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 95,340 85,052
Depreciation - owned assets 4,075 17,390
Profit on disposal of fixed assets (1,466 ) -
Computer software amortisation 5,159 81,848
Foreign exchange differences 153,390 (566,404 )
Auditors remuneration 11,500 11,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Loan interest 80,283 53,385

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax (5,141 ) 105,589

Deferred tax 13,258 (1,487 )
Tax on profit 8,117 104,102

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 1 January 2023 982,180
Additions 75,906
Reclassification/transfer 15,477
At 31 December 2023 1,073,563
AMORTISATION
At 1 January 2023 982,180
Amortisation for year 5,159
Reclassification/transfer 6,449
At 31 December 2023 993,788
NET BOOK VALUE
At 31 December 2023 79,775
At 31 December 2022 -

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. INTANGIBLE FIXED ASSETS - continued

Company
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 982,180
AMORTISATION
At 1 January 2023
and 31 December 2023 982,180
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

9. TANGIBLE FIXED ASSETS

Group
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 11,801 96,021 107,822
Additions - 3,843 3,843
Disposals - (3,032 ) (3,032 )
Reclassification/transfer - (15,477 ) (15,477 )
At 31 December 2023 11,801 81,355 93,156
DEPRECIATION
At 1 January 2023 11,801 74,247 86,048
Charge for year - 4,075 4,075
Eliminated on disposal - 1,739 1,739
Reclassification/transfer - (6,449 ) (6,449 )
At 31 December 2023 11,801 73,612 85,413
NET BOOK VALUE
At 31 December 2023 - 7,743 7,743
At 31 December 2022 - 21,774 21,774

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 522,488
NET BOOK VALUE
At 31 December 2023 522,488
At 31 December 2022 522,488

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Dints International Limited
Registered office: London, England
Nature of business: Supply of industrial plant and equipment
%
Class of shares: holding
Ordinary 100.00

Dints International B.V.
Registered office: Amsterdam, The Netherlands
Nature of business: Supply of industrial plant and equipment
%
Class of shares: holding
Ordinary 100.00


11. STOCKS

Group
2023 2022
£    £   
Finished goods 378,265 581,328

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 2,191,473 1,345,703 - -
Other debtors 39,510 6,601,421 55 55
Tax 6,940 1,636 - -
VAT 56,247 1,188 - -
Prepayments and accrued income 21,890,643 1,063,711 - -
24,184,813 9,013,659 55 55

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 15) 188,700 238,187 - -
Other loans (see note 15) 47,461 46,277 - -
Trade creditors 1,347,256 591,586 1 1
Corporation tax 16,903 143,736 138 138
Social security and other taxes 25,690 88,200 - -
Other creditors 25,010,288 7,207,625 - -
Accruals and deferred income 640,275 4,883,676 - -
27,276,573 13,199,287 139 139

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Bank loans (see note 15) 421,800 610,000
Other loans (see note 15) 115,860 166,493
537,660 776,493

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

15. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 49,487
Bank loans 188,700 188,700
Other loans 47,461 46,277
236,161 284,464
Amounts falling due between one and two years:
Bank loans due between
1 & 2 years 187,800 188,000
Other loans due between 1& 2 years 47,461 47,461
235,261 235,461
Amounts falling due between two and five years:
Bank loans due between
2 & 5 years 234,000 422,000
Other loans due between 2 & 5 years 68,399 114,214
302,399 536,214
Amounts falling due in more than five years:
Repayable by instalments
Other loans due after 5 years
by instalments - 4,818
- 4,818

16. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 15,656 2,398

Group
Deferred
tax
£   
Balance at 1 January 2023 2,398
Provided during year 13,258
Balance at 31 December 2023 15,656

VIA.TRADE LTD (REGISTERED NUMBER: 09431685)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000,000 Ordinary £0.00005 500 500
1,100,109 VN £0.00005 55 55
519,278 Preference £1.00000 519,278 519,278
519,833 519,833

18. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 337,889 250 338,139
Profit for the year 22,973 22,973
At 31 December 2023 360,862 250 361,112