2 2 Commodities Trading Corporation Limited 09827671 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is consultancy business. Digita Accounts Production Advanced 6.30.9574.0 true 09827671 2024-01-01 2024-12-31 09827671 2024-12-31 09827671 core:RetainedEarningsAccumulatedLosses 2024-12-31 09827671 core:ShareCapital 2024-12-31 09827671 core:CurrentFinancialInstruments 2024-12-31 09827671 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 09827671 core:FurnitureFittingsToolsEquipment 2024-12-31 09827671 bus:SmallEntities 2024-01-01 2024-12-31 09827671 bus:Audited 2024-01-01 2024-12-31 09827671 bus:FilletedAccounts 2024-01-01 2024-12-31 09827671 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09827671 bus:RegisteredOffice 2024-01-01 2024-12-31 09827671 bus:Director1 2024-01-01 2024-12-31 09827671 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09827671 bus:Agent1 2024-01-01 2024-12-31 09827671 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 09827671 core:OfficeEquipment 2024-01-01 2024-12-31 09827671 countries:EnglandWales 2024-01-01 2024-12-31 09827671 2023-12-31 09827671 core:FurnitureFittingsToolsEquipment 2023-12-31 09827671 2023-01-01 2023-12-31 09827671 2023-12-31 09827671 core:RetainedEarningsAccumulatedLosses 2023-12-31 09827671 core:ShareCapital 2023-12-31 09827671 core:CurrentFinancialInstruments 2023-12-31 09827671 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09827671 core:FurnitureFittingsToolsEquipment 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 09827671

Commodities Trading Corporation Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Commodities Trading Corporation Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Commodities Trading Corporation Limited

(Registration number: 09827671)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,402

1,863

Current assets

 

Debtors

5

334,582

306,604

Cash at bank and in hand

 

4,008,577

3,598,205

 

4,343,159

3,904,809

Creditors: Amounts falling due within one year

6

(431,865)

(433,554)

Net current assets

 

3,911,294

3,471,255

Total assets less current liabilities

 

3,916,696

3,473,118

Provisions for liabilities

(1,351)

(466)

Net assets

 

3,915,345

3,472,652

Capital and reserves

 

Called up share capital

50,100

50,100

Retained earnings

3,865,245

3,422,552

Shareholders' funds

 

3,915,345

3,472,652

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 

.........................................
Mr Thibaut Alexis Joseph Remoundos
Director

 

Commodities Trading Corporation 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:
15 Stratton Street
London
W1J 8LQ
England

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 have been prepared in accordance with the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

 

Commodities Trading Corporation Limited

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

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 9 April 2025 was Ian William Biddington, who signed for and on behalf of Alextra Audit Limited.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue relating to services is recognised as earned when services have been delivered. The company does not trade or deal in derivatives and so there are no such income activities reported in turnover for the year.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

 

Commodities Trading Corporation Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 less estimated residual value, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on cost

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Commodities Trading Corporation Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

9,648

9,648

Additions

6,168

6,168

At 31 December 2024

15,816

15,816

Depreciation

At 1 January 2024

7,785

7,785

Charge for the year

2,629

2,629

At 31 December 2024

10,414

10,414

Carrying amount

At 31 December 2024

5,402

5,402

At 31 December 2023

1,863

1,863

5

Debtors

Current

2024
£

2023
£

Trade debtors

312,621

284,141

Prepayments

13,801

13,835

Other debtors

8,160

8,628

 

334,582

306,604

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

10,750

Taxation and social security

401,610

407,283

Accruals and deferred income

16,128

6,600

Other creditors

14,127

8,921

431,865

433,554

 

Commodities Trading Corporation Limited

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

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £64,600 (2023 - £3,206).