Indochine Trading Ltd Filleted accounts for Companies House (small and micro)

INDOCHINE TRADING LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04341708 2022-01-01 2022-12-31 04341708 2022-12-31 04341708 2021-12-31 04341708 2021-12-31 04341708 bus:Director1 2022-01-01 2022-12-31 04341708 core:WithinOneYear 2022-12-31 04341708 core:WithinOneYear 2021-12-31 04341708 core:AfterOneYear 2022-12-31 04341708 core:ShareCapital 2022-12-31 04341708 core:ShareCapital 2021-12-31 04341708 core:RetainedEarningsAccumulatedLosses 2022-12-31 04341708 core:RetainedEarningsAccumulatedLosses 2021-12-31 04341708 bus:Director1 2021-12-31 04341708 bus:Director1 2022-12-31 04341708 bus:Director1 2021-12-31 04341708 bus:Director1 2021-01-01 2021-12-31 04341708 bus:SmallEntities 2022-01-01 2022-12-31 04341708 bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 04341708 bus:FullAccounts 2022-01-01 2022-12-31 04341708 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 04341708 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31

COMPANY REGISTRATION NUMBER: 04341708

Indochine Trading Ltd

Filleted Unaudited Financial Statements

31 December 2022

Indochine Trading Ltd

Statement of Financial Position

31 December 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	3		5,889	7,852

Current assets

Stocks		4,050	3,800
Debtors	4	169	–
Cash at bank and in hand		956	–
		-------	-------
		5,175	3,800

Creditors: amounts falling due within one year	5	35,274		27,244
		--------		--------
Net current liabilities			30,099	23,444
			--------	--------
Total assets less current liabilities			( 24,210)	( 15,592)

Creditors: amounts falling due after more than one year	6	2,837	–
		--------	--------
Net liabilities		( 27,047)	( 15,592)
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 27,048)	( 15,593)
	--------	--------
Shareholder deficit	( 27,047)	( 15,592)
	--------	--------

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 income statement has not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Indochine Trading Ltd

Statement of Financial Position (continued)

31 December 2022

These financial statements were approved by the board of directors and authorised for issue on 14 August 2023 , and are signed on behalf of the board by:

Mr D Hughes
Director

Company registration number: 04341708

Indochine Trading Ltd

Notes to the Financial Statements

Year ended 31 December 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 Jubilee House, Townsend Lane, London, United Kingdom.

2. 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.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

3. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2022 and 31 December 2022	14,520	14,520
	--------	--------
Depreciation
At 1 January 2022	6,668	6,668
Charge for the year	1,963	1,963
	--------	--------
At 31 December 2022	8,631	8,631
	--------	--------
Carrying amount
At 31 December 2022	5,889	5,889
	--------	--------
At 31 December 2021	7,852	7,852
	--------	--------

4. Debtors

	2022	2021
	£	£
Trade debtors	169	–
	----	----

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	5,767	3,275
Trade creditors	115	–
Other creditors	29,392	23,969
	--------	--------
	35,274	27,244
	--------	--------

6. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	2,837	–
	-------	----

7. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr D Hughes	( 23,969)	( 5,423)	( 29,392)
	--------	-------	--------

	2021
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr D Hughes	–	( 23,969)	( 23,969)
	----	--------	--------

8. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.