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Registration number: 02620586

Deventrade UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Deventrade UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Deventrade UK Limited

Company Information

Directors

Gary William Bright

Olaf Edwin Roland Pothoven

Company secretary

Gary William Bright

Registered office

Deventrade Uk Ltd 202 Weston House
Allen House Business Centre
The Maltings
Sawbridgeworth
Herts
CM21 9FP

Accountants

Mansell & Co
Chartered Certified Accountants5 Ducketts Wharf
South Street
Bishop Stortford
Hertfordshire
CM23 3AR

 

Deventrade UK Limited

(Registration number: 02620586)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,967

25,325

Current assets

 

Debtors

5

2,167,512

1,782,404

Cash at bank and in hand

 

49,079

23,134

 

2,216,591

1,805,538

Creditors: Amounts falling due within one year

6

(509,426)

(204,927)

Net current assets

 

1,707,165

1,600,611

Net assets

 

1,724,132

1,625,936

Capital and reserves

 

Called up share capital

7

3

3

Other reserves

222,235

222,235

Retained earnings

1,501,894

1,403,698

Shareholders' funds

 

1,724,132

1,625,936

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 11 July 2025 and signed on its behalf by:
 

.........................................
Gary William Bright
Company secretary and director

 

Deventrade UK Limited

Notes to the Unaudited 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:
Deventrade Uk Ltd 202 Weston House
Allen House Business Centre
The Maltings
Sawbridgeworth
Herts
CM21 9FP
England

These financial statements were authorised for issue by the Board on 11 July 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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Judgements

Significant judgements - the only judgement (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that hae the most significant effect on teh amounts recognised in the financial statements are as follows:

The directors have calculated the commission compensation due to agents upon retirement, in line with regulation 17 of the commercial agents regulations.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. We do not consider there to be any significant judgements or estimations in the financial statements for disclosure..

Revenue recognition

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.

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.

 

Deventrade UK Limited

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

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 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 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.

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

Fixtures and fittings

20% straight line

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

 

Deventrade UK Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

 

Deventrade UK Limited

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

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 January 2024

41,790

41,790

At 31 December 2024

41,790

41,790

Depreciation

At 1 January 2024

16,465

16,465

Charge for the year

8,358

8,358

At 31 December 2024

24,823

24,823

Carrying amount

At 31 December 2024

16,967

16,967

At 31 December 2023

25,325

25,325

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

223,537

258,942

Amounts owed by related parties

1,943,975

1,523,462

   

2,167,512

1,782,404

 

Deventrade UK Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

37,583

5,431

Taxation and social security

125,691

122,064

Accruals and deferred income

345,500

76,455

Other creditors

652

977

509,426

204,927

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3