Company Registration No. 11374908 (England and Wales)
Simplified Trade Finance Limited
Unaudited accounts
for the year ended 31 May 2024
Simplified Trade Finance Limited
Unaudited accounts
Contents
Simplified Trade Finance Limited
Company Information
for the year ended 31 May 2024
Directors
Simon King
Sharon Anne King
Company Number
11374908 (England and Wales)
Registered Office
124 City Road
London
EC1V 2NX
Simplified Trade Finance Limited
Statement of financial position
as at 31 May 2024
Cash at bank and in hand
7,696
19,855
Creditors: amounts falling due within one year
(1,400)
(1,565)
Net current assets
22,089
31,363
Called up share capital
2
2
Profit and loss account
22,180
31,511
Shareholders' funds
22,182
31,513
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by
Simon King
Director
Company Registration No. 11374908
Simplified Trade Finance Limited
Notes to the Accounts
for the year ended 31 May 2024
Simplified Trade Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 11374908. The registered office is 124 City Road, London, EC1V 2NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The company has adopted the going concern basis of accounting in the preparation of these financial statements.
Revenue, described as turnover, is the value of services, net of VAT and discounts, provided to customers during the year. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, of each asset, evenly over its expected useful life, as follows:
Computer equipment
25% per annum straight line
4
Tangible fixed assets
Computer equipment
Simplified Trade Finance Limited
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Other debtors
15,793
13,073
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
165
7
Transactions with related parties
At the balance sheet date, the directors owed the company £11,871 (2023: £13,073). The amount due, included in other debtors, is unsecured, repayable on demand and is not chargeable to interest.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).