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Registration number: 09375532

Intertrade M UK Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Intertrade M UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Intertrade M UK Limited

Company Information

Director

C Burcea

Company secretary

Canute Secretaries Limited

Registered office

Fifth Floor
27 Greville Street
London
EC1N 8SU

Accountants

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

Auditors

Mitchell Charlesworth (Audit) Limited Suites C, D, E & F
14th Floor The Plaza
100 Old Hall Street
Liverpool
L3 9QJ

 

Intertrade M UK Limited

(Registration number: 09375532)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

7

24,443

29,060

Cash at bank and in hand

 

90,248

90,148

 

114,691

119,208

Creditors: Amounts falling due within one year

8

(17,516)

(22,410)

Net assets

 

97,175

96,798

Capital and reserves

 

Called up share capital

9

100,000

100,000

Retained earnings

(2,825)

(3,202)

Shareholders' funds

 

97,175

96,798

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 February 2025
 

.........................................
C Burcea
Director

 

Intertrade M UK Limited

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

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fifth Floor
27 Greville Street
London
EC1N 8SU
United Kingdom

Principal activity

The principal activity of the Company is sales of products for the home, office and fashion market.

These financial statements were authorised for issue by the director on 14 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in GBP which is the presentational and functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

Whilst business activity remains at a significantly reduced level, prospects of increased activity continue to be explored. In the meantime the group is committed to the ongoing activity of the company. As such the directors believe it is appropriate to continue preparing the accounts on the going concern basis.

 

Intertrade M UK Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the services provided in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

33.3% straight line

Financial instruments

Classification
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

 

Intertrade M UK Limited

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

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment,

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Short term employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Intertrade M UK Limited

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

3

Significant judgements and key sources of estimation uncertainty

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 14 February 2025 was Richard Johnson , who signed for and on behalf of Mitchell Charlesworth (Audit) Limited.

5

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 1 (2023 - 1).

6

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

24,470

24,470

At 31 December 2024

24,470

24,470

Depreciation

Charge for the year

24,470

24,470

At 31 December 2024

24,470

24,470

Carrying amount

At 31 December 2024

-

-

 

Intertrade M UK Limited

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

7

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

23,285

27,792

Prepayments

 

1,158

1,268

   

24,443

29,060

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

2,016

3,702

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

165

-

Taxation and social security

 

5,263

11,559

Accruals and deferred income

 

9,815

6,920

Other creditors

 

257

229

 

17,516

22,410

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100,000

100,000

100,000

100,000

       

10

Parent and ultimate parent undertaking

The company's immediate parent is Fuandre S.A., incorporated in Luxembourg.

 The ultimate parent is H2M S.A., incorporated in Luxembourg.

 The smallest and most senior parent entity producing publicly available financial statements is H2M S.A.. These financial statements are available upon request from 10, rue Beaumont, L-1219 Luxembourg.