Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09648795 2024-01-01 2024-12-31 09648795 2023-01-01 2023-12-31 09648795 2024-12-31 09648795 2023-12-31 09648795 2023-01-01 09648795 c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 09648795 d:Director1 2024-01-01 2024-12-31 09648795 c:CurrentFinancialInstruments 2024-12-31 09648795 c:CurrentFinancialInstruments 2023-12-31 09648795 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 09648795 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 09648795 c:ShareCapital 2024-01-01 2024-12-31 09648795 c:ShareCapital 2024-12-31 09648795 c:ShareCapital 2023-01-01 2023-12-31 09648795 c:ShareCapital 2023-12-31 09648795 c:ShareCapital 2023-01-01 09648795 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 09648795 c:RetainedEarningsAccumulatedLosses 2024-12-31 09648795 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09648795 c:RetainedEarningsAccumulatedLosses 2023-12-31 09648795 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-01-01 2023-12-31 09648795 c:RetainedEarningsAccumulatedLosses 2023-01-01 09648795 d:OrdinaryShareClass1 2024-01-01 2024-12-31 09648795 d:OrdinaryShareClass1 2024-12-31 09648795 d:OrdinaryShareClass1 2023-12-31 09648795 d:FRS102 2024-01-01 2024-12-31 09648795 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09648795 d:FullAccounts 2024-01-01 2024-12-31 09648795 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09648795 2 2024-01-01 2024-12-31 09648795 e:PoundSterling 2024-01-01 2024-12-31 09648795 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-01-01 2023-12-31 09648795 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-01-01 09648795 c:PreviouslyStatedAmount 2023-01-01 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09648795









AFRICA TRADE PROCUREMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
AFRICA TRADE PROCUREMENT LIMITED
REGISTERED NUMBER: 09648795

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
8,646,145
9,736,905

Cash and cash equivalents
 5 
49,270
73,639

  
8,695,415
9,810,544

Creditors: amounts falling due within one year
 6 
(8,526,832)
(9,685,326)

Net current assets
  
 
 
168,583
 
 
125,218

Total assets less current liabilities
  
168,583
125,218

  

Net assets
  
168,583
125,218


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
 8 
168,582
125,217

  
168,583
125,218


Page 1

 
AFRICA TRADE PROCUREMENT LIMITED
REGISTERED NUMBER: 09648795
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C Karam
Director

Date: 25 July 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
AFRICA TRADE PROCUREMENT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023 (as previously stated)
1
288,257
288,258

Prior year adjustment - correction of error
-
(48,548)
(48,548)


At 1 January 2023 (as restated)
1
239,709
239,710


Comprehensive income for the year

Loss for the year
-
(114,492)
(114,492)
Total comprehensive income for the year
-
(114,492)
(114,492)



At 1 January 2024
1
125,217
125,218


Comprehensive income for the year

Profit for the year
-
43,365
43,365
Total comprehensive income for the year
-
43,365
43,365


At 31 December 2024
1
168,582
168,583


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
AFRICA TRADE PROCUREMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Africa Trade Procurement Limited (formerly African British Metals Limited) is a private limited company, limited by shares, domiciled and incorporated in England and Wales, Company number 09648795. The principal place of business is Octagon Point, 5 Cheapside, London, EC2V 6AA.
The principal activities during the year were to supply steel, related equipment and other products to customers in Africa. The Company sources it products from various suppliers and international trading houses
These financial statements are presented in Sterling whch is also the functional currency of the Company. Monetary amounts in these financial statements whcih are rounded to the nearest £1. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis.
The business continues to trade, however, none of the long terms contracts generated income in the current financial year. 
The Company has a loan with the Director. The loan is repayable on demand, however, the Company will only be asked to repay when the business has sufficient funds. It is considered that the Company will be able to meet its liabilities as they fall due over the next 12 months. 

 
2.3

Revenue

Revenue 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 is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4

 
AFRICA TRADE PROCUREMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
AFRICA TRADE PROCUREMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 

Page 6

 
AFRICA TRADE PROCUREMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 7

 
AFRICA TRADE PROCUREMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Debtors

2024
2023
£
£


Trade debtors
1,151,220
-

Loan
-
293,179

VAT repayable
327
278

Prepayments and accrued income
7,494,598
9,443,448

8,646,145
9,736,905



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
49,270
73,639



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
210

Loan from related party
-
9,678,602

Other creditors
8,520,437
-

Accruals and deferred income
6,395
6,514

8,526,832
9,685,326


Page 8

 
AFRICA TRADE PROCUREMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



8.


Reserves

Profit and loss account

This reserve represents the cumulative profit and losses of the Company.


9.


Related party transactions

During the year the Company entered into loan arrangements from Africa Trade Finance Limited, a company controlled by C Karam. As at 31 December 2024 the balance of this loan was £nil (2023 - £9,678,602). The loan is interest free and holds no fixed repayment terms and is therefore deemed to be repayable on demand.

 
Page 9