Trading Apps Holdings Limited - Accounts to registrar (filleted) - small 18.2

Trading Apps Holdings Limited - Accounts to registrar (filleted) - small 18.2

TRADING APPS HOLDINGS LIMITED - Company Information

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REGISTERED NUMBER: 12292757 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

31 OCTOBER 2019 TO 31 DECEMBER 2020

FOR

TRADING APPS HOLDINGS LIMITED
TRADING APPS HOLDINGS LIMITED (REGISTERED NUMBER: 12292757)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 OCTOBER 2019 TO 31 DECEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TRADING APPS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 31 OCTOBER 2019 TO 31 DECEMBER 2020







DIRECTORS: D M Leonard
C O O'Donnell
Mrs L Allen





REGISTERED OFFICE: Wellington House
273-275 High Street
London Colney
Hertfordshire
AL2 1HA





REGISTERED NUMBER: 12292757 (England and Wales)





ACCOUNTANTS: Newman Morris Limited
Chartered Accountants
Wellington House
273-275 High Street
London Colney
Hertfordshire
AL2 1HA
Page 1
TRADING APPS HOLDINGS LIMITED (REGISTERED NUMBER: 12292757)

BALANCE SHEET
31 DECEMBER 2020

Notes £   
FIXED ASSETS
Investments 4 12,287,043

CURRENT ASSETS
Cash at bank 186

CREDITORS
Amounts falling due within one year 5 (4,594,043 )
NET CURRENT LIABILITIES (4,593,857 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
7,693,186

CREDITORS
Amounts falling due after more than one
year
6
(7,468,000
)
NET ASSETS 225,186

CAPITAL AND RESERVES
Called up share capital 185
Retained earnings 7 225,001
225,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2021 and were signed on its behalf by:



C O O'Donnell - Director


The notes form part of these financial statements

Page 2
TRADING APPS HOLDINGS LIMITED (REGISTERED NUMBER: 12292757)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 OCTOBER 2019 TO 31 DECEMBER 2020


1. STATUTORY INFORMATION

Trading Apps Holdings 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.

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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Trading Apps Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted group shares, where the market value of the investments in group shares cannot be reliably determined, such investments are stated at historic cost less impairment.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

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TRADING APPS HOLDINGS LIMITED (REGISTERED NUMBER: 12292757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 OCTOBER 2019 TO 31 DECEMBER 2020


4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
Additions 35,287,571
Impairments (23,000,528 )
At 31 December 2020 12,287,043
NET BOOK VALUE
At 31 December 2020 12,287,043

On 6 January 2020 the company acquired 100% of the issued share capital of Trading Apps Ltd for an agreed price of £35,103,526 of which £8,863,000 represented the agreed price for the company with the balance of £19,760,530 representing an agreed net asset value of Trading Apps Ltd, a further £3,239,998 received in 2020 after corporation tax, representing additional consideration receivable by Trading Apps Ltd on achieving an agreed milestone arising from a pre acquisition agreement, with further milestone consideration of £3,239,998 after corporation being due in 2021.

Trading Apps Ltd paid a distribution of £19,760,530 from its pre acquisition profits thus reducing that company's net asset value giving rise to an impairment of the acquistion price equal to the distribution. The company also paid a further distribution of £3,239,998 also reducing also reducing its net asset value giving rise to a further impairment to the acquisition price equal to that sum.

Trading Apps Ltd is due to receive further consideration of £3,239,998 after corporation tax, which is payable to the former shareholders of Trading Apps Ltd.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other loans 1,170,000
Amounts owed to group undertakings 184,045
Other creditors 3,239,998
4,594,043

Other creditors represents the amount payable to the former shareholders of Trading Apps Ltd in respect of the further consideration due to that company.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other loans - 2-5 years 7,468,000

Other loans represents funds owed to the former shareholders of Trading Apps Ltd in relation to the acquisition of that company. This is an interest free loan repayable 5 years from the acquisition date. Accelerated payments from post acquisition profits are payable each year based on the amount by which the distributable reserves of the Trading Apps Ltd have increased following the date of the acquisition agreement.

Page 4
TRADING APPS HOLDINGS LIMITED (REGISTERED NUMBER: 12292757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 OCTOBER 2019 TO 31 DECEMBER 2020


7. RESERVES
Retained
earnings
£   

Profit for the period 225,001
At 31 December 2020 225,001

8. RELATED PARTY DISCLOSURES

Trading Apps Ltd

Subsidiary


The company received dividend income of £23,225,528 from Trading Apps Ltd during the year.

At the balance sheet date the company had an inter company liability to is subsidiary undertaking Trading Apps Ltd of £184,045.

9. ULTIMATE CONTROLLING PARTY

The company does not have one overall controlling related party.

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