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Registered number: 12200138
Trading Places Global Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report 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 directors for our work or for this report.
You have acknowledged on the balance sheet as at period ended 30 September 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
Signed
30/09/2024
Exceed Accountants Limited
Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
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Page 2
Balance Sheet
Registered number: 12200138
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 400
- 400
CURRENT ASSETS
Debtors 5 66,699 46,321
Cash at bank and in hand 1,399 2,406
68,098 48,727
Creditors: Amounts Falling Due Within One Year 6 (50,459 ) (41,643 )
NET CURRENT ASSETS (LIABILITIES) 17,639 7,084
TOTAL ASSETS LESS CURRENT LIABILITIES 17,639 7,484
Creditors: Amounts Falling Due After More Than One Year 7 (3,645 ) (7,360 )
NET ASSETS 13,994 124
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 13,894 24
SHAREHOLDERS' FUNDS 13,994 124
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
D Du Preez
Director
30/09/2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Trading Places Global Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12200138 . The registered office is 2 Parsons Close, Arborfield, Reading, Berkshire, RG2 9NU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33.33% on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 October 2022 2,219
As at 30 September 2023 2,219
Depreciation
As at 1 October 2022 1,819
Provided during the period 400
As at 30 September 2023 2,219
Net Book Value
As at 30 September 2023 -
As at 1 October 2022 400
5. Debtors
2023 2022
£ £
Due within one year
S455 tax debtor 16,474 11,332
Director's loan account 50,225 34,989
66,699 46,321
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,432 -
Corporation tax 24,240 16,808
VAT 8,181 8,420
BBL due < 1 year 3,475 3,475
S455 tax liability 10,451 11,332
Accruals and deferred income 1,680 1,608
50,459 41,643
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
BBL due 1 - 2 years 3,645 3,475
BBL due 2 - 5 years - 3,885
3,645 7,360
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
9. Related Party Transactions
At the balance sheet date, included within debtors due within one year, is an amount of £50,225 (2022 - £34,989) owed by the company directors. Interest is charged at commercial rates.
At the year end the company directors received dividends of £40,000 (2022 - £30,000).
10. Ultimate Controlling Party
The company's ultimate controlling party are the company directors.
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