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Company registration number:
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15012998
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Asd Tradings Ltd
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Balance sheet - continued
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as at 31 July 2025
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3
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Accounting Policies
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(i) Basis of preparation These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime. (ii) Going concern The directors have assessed that the company has adequate resources to continue trading for the foreseeable future and therefore continue to adopt the going concern basis in preparing the financial statements. (iii) Fixed assets and depreciation Fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided on a straight-line basis over the estimated useful economic lives of the assets. (iv) Foreign currency transactions Transactions denominated in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the exchange rate ruling at the balance sheet date. Exchange gains and losses arising on translation are recognised in the profit and loss account in the period in which they arise. (v) Taxation Taxation expense represents the sum of current tax payable and any deferred tax charge or credit, where applicable. Current tax is based on taxable profit for the period and is calculated using tax rates that have been enacted or substantively enacted at the balance sheet date. The company recognises deferred tax in accordance with the requirements of FRS 105 where applicable.
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The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 July 2025.
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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2
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