2022-12-012023-11-302023-11-30false10479560COMMODITREE 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COMMODITREE LTD

Registered Number
10479560
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

COMMODITREE LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

Mistry, Rishi Prakash

Registered Address

40 William Mews
London
SW1X 9HQ

Registered Number

10479560 (England and Wales)
COMMODITREE LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors322,50022,500
Cash at bank and on hand1621,094
22,66223,594
Creditors amounts falling due within one year4(15,111)(12,450)
Net current assets (liabilities)7,55111,144
Total assets less current liabilities7,55111,144
Creditors amounts falling due after one year5(19,001)(26,095)
Net assets(11,450)(14,951)
Capital and reserves
Called up share capital100100
Share premium900900
Profit and loss account(12,450)(15,951)
Shareholders' funds(11,450)(14,951)
The financial statements were approved and authorised for issue by the Director on 15 November 2024, and are signed on its behalf by:
Mistry, Rishi Prakash
Director
Registered Company No. 10479560
COMMODITREE LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared on a going concern basis not withstanding the company's net current liabilities of £20,400 (2022: £14,951) position as at the year end. The director and the connected companies have provided the company with an undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.Average number of employees

20232022
Average number of employees during the year11
3.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables22,50022,500
Total22,50022,500
4.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts8,8858,885
Amounts owed to related parties5,8963,235
Accrued liabilities and deferred income330330
Total15,11112,450
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts19,00126,095
Total19,00126,095
6.Share capital
Allotted, issued and fully paid: 100 shares 10 nominal value of £100 (2022: £100).
7.Related party transactions
As at the balance sheet date the company owed £5,895 (2022: £3,235) to the director of the company. The loan is interest free and repayable on demand. Included in other debtors is amount of £22,500 (2022: £22,500) owed from 42WM Limited, which is linked by virtue of a common director.