Trade Credit Global UK Limited Filleted accounts for Companies House (small and micro)

TRADE CREDIT GLOBAL UK LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12235133

Trade Credit Global UK Limited

Filleted Unaudited Financial Statements

30 September 2022

Trade Credit Global UK Limited

Financial Statements

Year ended 30 September 2022

Contents	Page

Officers and professional advisers	1

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Trade Credit Global UK Limited

Officers and Professional Advisers

The board of directors	Mr I Desbottes (Resigned 31 May 2022)
	Mr J Cockshutt
	Mr O Oates (Appointed 6 June 2022)

Registered office	10 Canberra House
	Corbygate Business Park
	Corby
	Northamptonshire
	England
	NN17 5JG

Accountants	A Plus Accountants Limited
	Accountants
	10 Canberra House
	Corbygate Business Park
	Corby
	Northants
	NN17 5JG

Trade Credit Global UK Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Trade Credit Global UK Limited

Year ended 30 September 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trade Credit Global UK Limited for the year ended 30 September 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Trade Credit Global UK Limited, as a body, in accordance with the terms of our engagement letter dated 15 October 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Trade Credit Global UK Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trade Credit Global UK Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Trade Credit Global UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Trade Credit Global UK Limited. You consider that Trade Credit Global UK Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Trade Credit Global UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A Plus Accountants Limited Accountants

10 Canberra House Corbygate Business Park Corby Northants NN17 5JG

15 May 2023

Trade Credit Global UK Limited

Statement of Financial Position

30 September 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	2,322	2,902

Current assets

Debtors	6	–	623
Cash at bank and in hand		53,130	87,570
		--------	--------
		53,130	88,193

Prepayments and accrued income	–	1,207

Creditors: amounts falling due within one year	7	26,068	36,725
		--------	--------
Net current assets		27,062	52,675
		--------	--------
Total assets less current liabilities		29,384	55,577

Accruals and deferred income	900	30,900
	--------	--------
Net assets	28,484	24,677
	--------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	27,484	23,677
	--------	--------
Shareholders funds	28,484	24,677
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Trade Credit Global UK Limited

Statement of Financial Position (continued)

30 September 2022

These financial statements were approved by the board of directors and authorised for issue on 15 May 2023 , and are signed on behalf of the board by:

Mr J Cockshutt

Director

Company registration number: 12235133

Trade Credit Global UK Limited

Notes to the Financial Statements

Year ended 30 September 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Canberra House, Corbygate Business Park, Corby, Northamptonshire, NN17 5JG, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly /in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	20% reducing balance

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. 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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 October 2021 and 30 September 2022	4,845
	-------
Depreciation
At 1 October 2021	1,943
Charge for the year	580
	-------
At 30 September 2022	2,523
	-------
Carrying amount
At 30 September 2022	2,322
	-------
At 30 September 2021	2,902
	-------

6. Debtors

	2022	2021
	£	£
Trade debtors	–	383
Other debtors	–	240
	----	----
	–	623
	----	----

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	–	63
Amounts owed to group undertakings	25,039	12,703
Corporation tax	1,029	23,959
	--------	--------
	26,068	36,725
	--------	--------

8. Related party transactions

The company has availed itself of the exemption contained within FRS 102 Section 33 Related Party Disclosures not to disclose details of transactions with fellow group entities.

9. Controlling party

At 30 September 2022, the Company's immediate parent undertaking is W. Denis Credit Risks Limited, a company registered in England and Wales. W Denis (Holdings) Plc is the ultimate controlling party.