ACCOUNTS - Final Accounts


Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01false1truefalseActing as an agent in the buying and selling of crude oil and the holding of investments.1 04878114 2021-01-01 2021-12-31 04878114 2020-01-01 2020-12-31 04878114 2021-12-31 04878114 2020-12-31 04878114 c:Director1 2021-01-01 2021-12-31 04878114 d:CurrentFinancialInstruments 2021-12-31 04878114 d:CurrentFinancialInstruments 2020-12-31 04878114 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04878114 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 04878114 d:ShareCapital 2021-12-31 04878114 d:ShareCapital 2020-12-31 04878114 d:RetainedEarningsAccumulatedLosses 2021-12-31 04878114 d:RetainedEarningsAccumulatedLosses 2020-12-31 04878114 c:OrdinaryShareClass1 2021-01-01 2021-12-31 04878114 c:OrdinaryShareClass1 2021-12-31 04878114 c:OrdinaryShareClass1 2020-12-31 04878114 c:FRS102 2021-01-01 2021-12-31 04878114 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 04878114 c:FullAccounts 2021-01-01 2021-12-31 04878114 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 04878114












R-TRADING (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


 
REGISTERED NUMBER:04878114
R-TRADING (UK) LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
$
$

  

Current assets
  

Debtors: amounts falling due within one year
 4 
3,003,511
3,003,511

  
3,003,511
3,003,511

Creditors: amounts falling due within one year
 5 
(3,558,733)
(3,556,383)

Net current liabilities
  
 
 
(555,222)
 
 
(552,872)

Total assets less current liabilities
  
(555,222)
(552,872)

  

Net liabilities
  
(555,222)
(552,872)


Capital and reserves
  

Called up share capital 
 6 
1,660
1,660

Profit and loss account
  
(556,882)
(554,532)

  
(555,222)
(552,872)


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 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 profit and loss account 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: 


................................................
A Shesterikov
Director

Date: 22 December 2022

The notes on pages 2 to 5 form part of these financial statements.

 - 1 - 

 

R-TRADING (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

R-Trading (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are prepared in USD ($). Monetary amounts in the financial statements are rounded to the nearest $.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

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.

  
2.4

Share capital

Ordinary shares are classfied as equity.


2.5

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 

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 deducting all of its liabilities. 
 
The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 

 - 2 - 

 

R-TRADING (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)





Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances and amounts due
from connected companies are initially recognised at transaction price, 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 for a similar debt instrument. Financing
transactions are those in which payment is deferred beyond normal business terms or is financed at
a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, amounts due from
connected companies are initially recognised at transaction price, unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of
the future payments discounted at a market rate of interest for a similar debt instrument. Financing
transactions are those in which payment is deferred beyond normal business terms or is financed at
a rate of interest that is not market rate.

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

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

 - 3 - 

 

R-TRADING (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)





Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

 - 4 - 

 

R-TRADING (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Debtors

2021
2020
$
$


Amounts owed by group undertakings
2,853,511
2,853,511

Other debtors
150,000
150,000

3,003,511
3,003,511



5.


Creditors: Amounts falling due within one year

2021
2020
$
$

Amounts owed to parent company
3,556,383
3,556,383

Accruals and deferred income
2,350
-

3,558,733
3,556,383



6.


Share capital

2021
2020
$
$
Allotted, called up and fully paid



1,000 (2020 - 1,000) Ordinary shares of £1.00 each
1,660
1,660



7.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.
All amounts owed to and from group undertakings are interest free, unsecured and repayable on demand. 

 
 - 5 -