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Registered Number: 09003579
England and Wales

 

 

 

TOTAL TRADEX LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Mr Adil Rashid
Registered Number 09003579
Registered Office Regent House, Regent Street
Rochdale
Lancashire
OL12 0HQ
Accountants P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Total Tradex Ltd for the year ended 31 May 2024 which comprise the Income Statement, the Statement of Financial Position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Total Tradex Ltd, as a body, in accordance with the terms of our engagement letter dated 1 May 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Total Tradex Ltd and state those matters that we have agreed to state to the Board of Directors of Total Tradex Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Total Tradex Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Total Tradex Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Total Tradex Ltd. You consider that Total Tradex Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Total Tradex Ltd. 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 statutory financial statements.



....................................................
P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
25 February 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,458    3,278 
2,458    3,278 
Current assets      
Stocks 4 30,487    65,445 
Debtors: amounts falling due within one year 5 56,909    81,609 
Cash at bank and in hand 2,969    5,900 
90,365    152,954 
Creditors: amount falling due within one year 6 (356,792)   (353,091)
Net current assets (266,427)   (200,137)
 
Total assets less current liabilities (263,969)   (196,859)
Provisions for liabilities 7 (558)   (708)
Net assets (264,527)   (197,567)
 

Capital and reserves
     
Called up share capital 8 1,000    1,000 
Profit and loss account (265,527)   (198,567)
Shareholders' funds (264,527)   (197,567)
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 24 February 2025 and were signed by:


-------------------------------
Mr Adil Rashid
Director
3
General Information
Total Tradex Ltd is a private company, limited by shares, registered in England and Wales, registration number 09003579, registration address Regent House, Regent Street, Rochdale, Lancashire, OL12 0HQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company has a good prospect of profitability and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 June 2023 246    11,810    3,130    15,186 
Additions      
Disposals      
At 31 May 2024 246    11,810    3,130    15,186 
Depreciation
At 01 June 2023 62    10,135    1,711    11,908 
Charge for year 46    419    355    820 
On disposals      
At 31 May 2024 108    10,554    2,066    12,728 
Net book values
Closing balance as at 31 May 2024 138    1,256    1,064    2,458 
Opening balance as at 01 June 2023 184    1,675    1,419    3,278 


4.

Stocks

2024
£
  2023
£
Finished Goods 30,487    65,445 
30,487    65,445 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 56,909    81,609 
56,909    81,609 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 115,794    115,742 
Bank Loans & Overdrafts (Secured) 17,456    40,000 
PAYE & Social Security 720    56 
Accrued Expenses 1,150    1,150 
Other Creditors 198,411    164,160 
Directors' Current Accounts 22,885    17,570 
VAT 376    14,413 
356,792    353,091 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 467    623 
Pension Provisions 91    85 
558    708 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

4