Silverfin false false 31/10/2024 01/11/2023 31/10/2024 M D Canto 01 June 2025 The principal activity of the Company during the financial year was to receive commission to facilitate, supervise and assist in the sale of plastic working machinery. 00534592 2024-10-31 00534592 2023-10-31 00534592 core:CurrentFinancialInstruments 2024-10-31 00534592 core:CurrentFinancialInstruments 2023-10-31 00534592 core:ShareCapital 2024-10-31 00534592 core:ShareCapital 2023-10-31 00534592 core:RetainedEarningsAccumulatedLosses 2024-10-31 00534592 core:RetainedEarningsAccumulatedLosses 2023-10-31 00534592 2023-11-01 2024-10-31 00534592 bus:FilletedAccounts 2023-11-01 2024-10-31 00534592 bus:SmallEntities 2023-11-01 2024-10-31 00534592 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 00534592 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 00534592 bus:Director1 2023-11-01 2024-10-31 00534592 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Company No: 00534592 (England and Wales)

IPLA TRADING CO LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

IPLA TRADING CO LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

IPLA TRADING CO LIMITED

BALANCE SHEET

As at 31 October 2024
IPLA TRADING CO LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Current assets
Cash at bank and in hand 9,105 18,123
9,105 18,123
Creditors: amounts falling due within one year 3 ( 4,071) ( 5,636)
Net current assets 5,034 12,487
Total assets less current liabilities 5,034 12,487
Net assets 5,034 12,487
Capital and reserves
Called-up share capital 200 200
Profit and loss account 4,834 12,287
Total shareholder's funds 5,034 12,487

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of IPLA Trading Co Limited (registered number: 00534592) were approved and authorised for issue by the Director on 01 June 2025. They were signed on its behalf by:

M D Canto
Director
IPLA TRADING CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
IPLA TRADING CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

IPLA Trading Co Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 101 Brunswick Quay, Greenland Dock, Surrey Quays, SE16 7PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in
other comprehensive income.

The current corporation 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.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the transaction.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Ordinary 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 689 2,757
Other creditors 3,382 2,879
4,071 5,636

4. Related party transactions

Transactions with the entity's director

2024 2023
£ £
M Del Canto (1,725) (1,979)

The loan from the director to the company is unsecured, interest free and repayable on demand.