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Tredence Uk Limited

Audited Financial Statements for the Year Ended 31 May 2024






Tredence Uk Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: S Bhowmick
S Dubey
S Mehra



REGISTERED OFFICE: Dawson House
5 Jewry Street
London
EC3N 2EX



REGISTERED NUMBER: 13412673 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Andrew Miller FCA



AUDITORS: BPU Limited
Chartered Accountants
Statutory Auditor
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Tredence Uk Limited (Registered number: 13412673)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 3 14,314 8,336
Cash at bank 76,309 24,154
90,623 32,490
CREDITORS
Amounts falling due within one
year

4

1,114,382

457,297
NET CURRENT LIABILITIES (1,023,759 ) (424,807 )
TOTAL ASSETS LESS
CURRENT LIABILITIES

(1,023,759

)

(424,807

)

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings (1,073,759 ) (474,807 )
(1,023,759 ) (424,807 )

Tredence Uk Limited (Registered number: 13412673)

Balance Sheet - continued
31 May 2024


The 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





S Dubey - Director


Tredence Uk Limited (Registered number: 13412673)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis as the company has the ongoing financial support of it's Directors and ultimate parent company. The ultimate parent company, Tredence Inc., has indicated that, for at least 12 months from the date of approval of these financial statements, it will continue to provide the necessary resources to continue operations.

Please see the "Material uncertainty related to going concern" in the Auditors Report for their opinion on this matter.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Tredence Uk Limited (Registered number: 13412673)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


1. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Other debtors & prepayments 14,314 8,336

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade creditors 1,026,293 423,872
Taxes & social security costs 190 6,338
Other creditors & accruals 87,899 27,087
1,114,382 457,297

Tredence Uk Limited (Registered number: 13412673)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Material uncertainty relating to going concern
We draw attention to the Balance Sheet, which indicates that at 31 May 2023 the company's current liabilities exceeded it's current assets. The primary creditor of the company is it's parent company, which has provided a guarantee that it will provide ongoing support and financial assistance for a period of 12 months from the accounts being signed off.

As this guarantee is not a legally binding contract this support could be withdrawn at any point and the creditor would be due for payment. If this were to be the case then the company would cast significant doubt on the company's ability to continue as a going concern. Our audit report is not modified in respect of this matter.

Andrew Lloyd Miller FCA (Senior Statutory Auditor)
for and on behalf of BPU Limited