International Trading Team Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06461818 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

INTERNATIONAL TRADING TEAM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

A O Durgun

Secretary:

M Aksin

Registered office:

3rd Floor

86-90 Paul Street

London

EC2A 4NE

Registered number:

06461818 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69 - 73 Theobalds Road

London

WC1X 8TA

Current assets

Stocks

-

187,335

Debtors: amounts falling due within one
year

5

630,802

400,543

Debtors more than 10 years

5

1,826,420

Cash at bank

105,344

45,908

2,562,566

2,460,206

Creditors

Amounts falling due within one year

6

752,611

413,469

Net current assets

1,809,955

2,046,737

Total assets less current liabilities

1,809,955

2,046,737

Creditors

Amounts falling due after more than one
year

7

1,115,004

1,287,314

Net assets

694,951

759,423

Capital and reserves

Called up share capital

9

240,000

Retained earnings

454,951

519,423

Shareholders' funds

694,951

759,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2025 and were signed by:

A O Durgun - Director

1.	Statutory information

International Trading Team Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the US Dollar ($).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

4.	Tangible fixed assets

Fixtures

and

fittings

$

Cost

At 1 January 2024

and 31 December 2024

34,933

Depreciation

At 1 January 2024

and 31 December 2024

34,933

Net book value

At 31 December 2024

-

At 31 December 2023

-

5.

Debtors

2024

2023

$

Amounts falling due within one year:

Trade debtors

628,648

388,314

Other debtors

1,451

8,079

VAT

703

683

Prepayments

-

3,467

630,802

400,543

Amounts falling due after more than one year:

Trade debtors more 10 yr

1,826,420

Aggregate amounts

2,457,222

2,226,963

6.

Creditors: amounts falling due within one year

2024

2023

$

Bank loans and overdrafts

180,000

Trade creditors

558,352

221,832

Taxation and social security

9,606

7,288

Other creditors

4,653

4,349

752,611

413,469

7.

Creditors: amounts falling due after more than one year

2024

2023

$

Bank loans

1,115,004

1,287,314

2024

2023

$

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

395,004

567,314

8.	Secured debts

The following secured debts are included within creditors:

2024

2023

$

Bank loans

1,295,004

1,467,314

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

$

240,000

Ordinary

$1

240,000