Registration number: 11804044

Mitrade Services Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 9

Mitrade Services Ltd

Company Information

Director

Mandy Youmin Zhang YEM

Registered office

80-83 Long Lane London United Kingdom EC1A 9ET

Auditors

Carbon Accountancy Limited Chartered Accountants and Registered Auditors80-83 Long Lane London EC1A 9ET

Mitrade Services Ltd

(Registration number: 11804044)
Balance Sheet as at 30 June 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	445	500
Tangible assets	5	3,816	-
		4,261	500
Current assets
Debtors	6	24,918	30,573
Cash at bank and in hand		3,163	3,351
		28,081	33,924
Creditors: Amounts falling due within one year	7	(14,698)	(17,962)
Net current assets		13,383	15,962
Net assets		17,644	16,462
Capital and reserves
Called up share capital	8	100	100
Retained earnings		17,544	16,362
Shareholders' funds		17,644	16,462

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2026
 

......................................... Mandy Youmin Zhang YEM Director

Mitrade Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2026

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
80-83 Long Lane
London
EC1A 9ET
United Kingdom

These financial statements were authorised for issue by the director on 25 September 2026.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 25 September 2026 was John Leyden, who signed for and on behalf of Carbon Accountancy Limited.

Revenue recognition

Revenue from the provision of services is recognised in the accounting period when the services are performed and when the payment is determinable, and collectible as per the terms of the contract. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Mitrade Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2026

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 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
Office equipment	straight line over 3 years
Computer equipment	straight line over 3 years

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Trademarks	over 10 years straight line

Mitrade Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2026

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Mitrade Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2026

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2025 - 3).

4	Intangible assets

	Trademarks, patents and licences  £	Total £
Cost or valuation
At 1 July 2025	545	545
At 30 June 2026	545	545
Amortisation
At 1 July 2025	45	45
Amortisation charge	55	55
At 30 June 2026	100	100
Carrying amount
At 30 June 2026	445	445
At 30 June 2025	500	500

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2025	7,581	7,581
Additions	3,925	3,925
At 30 June 2026	11,506	11,506
Depreciation
At 1 July 2025	7,581	7,581
Charge for the year	109	109
At 30 June 2026	7,690	7,690
Carrying amount
At 30 June 2026	3,816	3,816

Mitrade Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2026

6

Debtors

	Note	2026 £	2025 £
Rent deposit		10,040	10,040
Prepayments		5,887	16,441
Other debtors	11	8,991	4,092
		24,918	30,573

Included within rent deposits is a balance for £10,040 (2025: £10,040) due after more than one year.
 

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	3,583	782
Trade creditors		130	6,105
Taxation and social security		3,435	4,578
Accruals and deferred income		6,950	6,100
Other creditors		600	397
		14,698	17,962

8	Share capital

Allotted, called up and not fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Mitrade Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2026

9	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Bank overdrafts	3,583	782

10	Obligations under leases

Operating leases

The total of future minimum lease payments is as follows:

	2026 £	2025 £
Not later than one year	63,393	60,374
Later than one year and not later than five years	-	60,374
	63,393	120,748

The amount of non-cancellable operating lease payments recognised as an expense during the year was £60,529 (2025 - £57,318).

11	Related party transactions

Other transactions with the director

During the year the company made an advance of £4,819 to M Yem, a director, on 29 June 2026. The advance was interest free and repayable on demand. The balance of £4,819 is included in other debtors at 30 June 2026 and was repaid in full on 8 July 2026.

Summary of transactions with all entities with joint control or significant interest

At 30 June 2026 £1 (2025: £1) was due from Mitrade EU Ltd, a fellow subsidiary. This is the unpaid consideration for the assignment of the company's EU trade mark to Mitrade EU Ltd on 29 November 2024.

The Company’s revenue includes management recharges from Mitrade Holding Ltd, as per the terms of a service agreement. As at 30 June 2026, there were no outstanding balances (2025: £NIL).

Income and receivables from related parties

2026	Entities with joint control or significant influence £
Receipt of services	282,804

Mitrade Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2026

2025	Entities with joint control or significant influence £
Receipt of services	268,045

12	Parent and ultimate parent undertaking

The company's immediate parent is Mitrade Group Pte Ltd, incorporated in Singapore. Mitrade Group Pte Ltd is the parent undertaking of the smallest group for which consolidated financial statements are drawn up and of which the company is a member. Its registered address is 5 Temasek Boulevard, #11-01, Suntec Tower Five, Singapore 038985.
 

On 27 October 2025 the shares of Mitrade Group Pte Ltd were transferred to Verdant Peak Holdings Limited, a company incorporated in the British Virgin Islands. From that date the ultimate parent undertaking is Etienne Capital Group Limited, a company incorporated in the British Virgin Islands.

The ultimate controlling party is Chen Shifei.