Acorah Software Products - Accounts Production 16.2.850 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 07317235 Mr Amir Edalatian Alipour Mr Amir Edalatian Alipour iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07317235 2023-07-31 07317235 2024-07-31 07317235 2023-08-01 2024-07-31 07317235 frs-core:CurrentFinancialInstruments 2024-07-31 07317235 frs-core:Non-currentFinancialInstruments 2024-07-31 07317235 frs-core:ComputerEquipment 2024-07-31 07317235 frs-core:ComputerEquipment 2023-08-01 2024-07-31 07317235 frs-core:ComputerEquipment 2023-07-31 07317235 frs-core:ShareCapital 2024-07-31 07317235 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 07317235 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07317235 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 07317235 frs-bus:SmallEntities 2023-08-01 2024-07-31 07317235 frs-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 07317235 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07317235 frs-core:UnlistedNon-exchangeTraded 2024-07-31 07317235 frs-core:UnlistedNon-exchangeTraded 2023-07-31 07317235 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-07-31 07317235 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-07-31 07317235 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-07-31 07317235 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-07-31 07317235 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-07-31 07317235 frs-bus:Director1 2023-08-01 2024-07-31 07317235 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 07317235 frs-countries:EnglandWales 2023-08-01 2024-07-31 07317235 2022-07-31 07317235 2023-07-31 07317235 2022-08-01 2023-07-31 07317235 frs-core:CurrentFinancialInstruments 2023-07-31 07317235 frs-core:Non-currentFinancialInstruments 2023-07-31 07317235 frs-core:ShareCapital 2023-07-31 07317235 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 07317235
Trust Commodities Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Anderson Ross Accounting & Tax Ltd
G-05 Davenport House
16 Pepper Street
London
E14 9RP
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of Trust Commodities Ltd for the year ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Trust Commodities Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Trust Commodities Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Trust Commodities Ltd and state those matters that we have agreed to state to the director of Trust Commodities Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trust Commodities Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Trust Commodities Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Trust Commodities Ltd . You consider that Trust Commodities 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 accounts of Trust Commodities 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 financial statements.
Signed
Anderson Ross Accounting & Tax Ltd
7 April 2025
Anderson Ross Accounting & Tax Ltd
G-05 Davenport House
16 Pepper Street
London
E14 9RP
Page 1
Page 2
Balance Sheet
Registered number: 07317235
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 490 653
Investments 5 462,000 493,526
462,490 494,179
CURRENT ASSETS
Debtors 6 205 209
Cash at bank and in hand 9,830 15,068
10,035 15,277
Creditors: Amounts Falling Due Within One Year 7 (313,638 ) (352,829 )
NET CURRENT ASSETS (LIABILITIES) (303,603 ) (337,552 )
TOTAL ASSETS LESS CURRENT LIABILITIES 158,887 156,627
Creditors: Amounts Falling Due After More Than One Year 8 (104,145 ) (104,145 )
NET ASSETS 54,742 52,482
CAPITAL AND RESERVES
Called up share capital 9 80,000 80,000
Profit and Loss Account (25,258 ) (27,518 )
SHAREHOLDERS' FUNDS 54,742 52,482
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Page 3
For the year ending 31 July 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 director acknowledges his 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
Mr Amir Edalatian Alipour
Director
7 April 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Trust Commodities Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07317235 . The registered office is G-05 Davenport House, 16 Pepper Street, London, E14 9RP.
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:
Computer Equipment 25% reducing balance
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2023 9,607
As at 31 July 2024 9,607
Depreciation
As at 1 August 2023 8,954
Provided during the period 163
As at 31 July 2024 9,117
...CONTINUED
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Page 5
Net Book Value
As at 31 July 2024 490
As at 1 August 2023 653
5. Investments
Unlisted
£
Cost
As at 1 August 2023 493,526
Disposals (31,526 )
As at 31 July 2024 462,000
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 462,000
As at 1 August 2023 493,526
6. Debtors
2024 2023
£ £
Due within one year
VAT 205 209
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 565 11
Net wages 3,896 -
Accruals and deferred income 167 167
Director's loan account 309,010 352,651
313,638 352,829
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 104,145 104,145
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 80,000 80,000
10. Related Party Transactions
Included in creditors falling due within one year is an amount of £309,010 (2023: £352,651) owed to the director of the company. The loan is interest free.
Included in creditors falling due after more than one year is an amount of £104,145 (2023: £104,145) owed to Iman Edalatian. The loan is interest free.
Page 6