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Registered number: 04218932
Trading Base Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Elsby and Company Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04218932
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 632,750 456,071
632,750 456,071
CURRENT ASSETS
Debtors 5 484,092 401,469
Cash at bank and in hand 27,078 22,680
511,170 424,149
Creditors: Amounts Falling Due Within One Year 6 (294,207 ) (226,932 )
NET CURRENT ASSETS (LIABILITIES) 216,963 197,217
TOTAL ASSETS LESS CURRENT LIABILITIES 849,713 653,288
Creditors: Amounts Falling Due After More Than One Year 7 (256,747 ) (135,701 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (158,187 ) (86,653 )
NET ASSETS 434,779 430,934
CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Profit and Loss Account 429,779 425,934
SHAREHOLDERS' FUNDS 434,779 430,934
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
S P Partrick
Director
3rd February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Trading Base Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04218932 . The registered office is 155 Wellingborough Road, Rushden, Northamptonshire, NN10 9TB.
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.
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 25% on reducing balance
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
...CONTINUED
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2.5. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 15)
10 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2023 22,620 1,134,937 41,417 1,198,974
Additions 17,408 286,900 3,861 308,169
Disposals - (40,510 ) - (40,510 )
As at 31 May 2024 40,028 1,381,327 45,278 1,466,633
Depreciation
As at 1 June 2023 16,811 701,395 24,697 742,903
Provided during the period 3,373 120,890 4,443 128,706
Disposals - (37,726 ) - (37,726 )
As at 31 May 2024 20,184 784,559 29,140 833,883
Net Book Value
As at 31 May 2024 19,844 596,768 16,138 632,750
As at 1 June 2023 5,809 433,542 16,720 456,071
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 413,762 276,372
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Page 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 447,907 395,604
Other debtors 36,185 5,865
484,092 401,469
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 104,311 75,157
Trade creditors 96,820 81,293
Bank loans and overdrafts 7,568 -
Other creditors 22,307 20,890
Taxation and social security 63,201 49,592
294,207 226,932
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 256,747 135,701
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 104,311 75,157
Later than one year and not later than five years 256,747 135,701
361,058 210,858
361,058 210,858
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2,550 Ordinary A shares of £ 1.00 each 2,550 2,550
2,450 Ordinary B shares of £ 1.00 each 2,450 2,450
5,000 5,000
Page 5