Tradecore Group Limited Accounts

TRADECORE GROUP LIMITED - Company Information






Tradecore Group Limited

			Audited accounts
	Company No. 08439612
		Information for Filing with The Registrar
		31 December 2022

The Directors present their report and the accounts for the year ended 31 December 2022.

Principal activities
The principal activity of the company during the year under review was online financial platform.




Directors

The Directors who served at any time during the year were as follows:

M. Borenovic
A. Jukic
J. Kobler
M. Stanojevic
G. Stevanovic









































Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with united Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
*	select suitable accounting policies and then apply them consistently;
*	make judgments and estimates that are reasonable and prudent;
*	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.















The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

M. Borenovic
Director
31 December 2023

at	31 December 2022
Company No.		08439612	Notes	2022	2021
				£	£
Fixed assets
	Intangible assets		4	249,219	225,755
	Tangible assets		5	19,518	30,655

	Investments		6	1,834,468	1,832,332
				2,103,205	2,088,742
Current assets
	Stocks		7	-	53,576
	Debtors		8	228,889	247,495

	Cash at bank and in hand			61,681	21,094
				290,570	322,165
Creditors: Amount falling due within one year			9	(2,913,736)	(2,493,342)
Net current liabilities				(2,623,166)	(2,171,177)
Total assets less current liabilities				(519,961)	(82,435)
Creditors: Amounts falling due after more than one year			10	(1,218,608)	(1,101,959)



Net liabilities				(1,738,569)	(1,184,394)

Capital and reserves
	Called up share capital			4,905	3,689
	Share premium account		12	5,726,542	4,833,306
	Revaluation reserve		12	43,205	43,205

	Profit and loss account		12	(7,513,221)	(6,064,594)

Total equity				(1,738,569)	(1,184,394)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 December 2023
And signed on its behalf by:
M. Borenovic
31 December 2023








As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 31 December 2023
And signed on its behalf by:
M. Borenovic
Director

31 December 2023

for the year ended 31 December 2022

General information

Its registered number is: 08439612

Its registered office is:

1 Byrom Place

Manchester

M3 3HG

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Going concern

These financial statements have been prepared on a going concern basis. The director, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, has no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern. Accordingly the director has a reasonable expectation that the company will continue in operational existence and therefore he continues to adopt the going concern basis of accounting to prepare the financial statements.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Motor vehicles

12.5% Straight line

Furniture, fittings and equipment

20% Straight line

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.

Equity instruments

Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2022	2021
			Number	Number
		The average monthly number of employees (including directors) during the year was:	0	0

4	Intangible fixed assets
			Other	Total
			£	£
		Cost
		At 1 January 2022	225,755	225,755
		Additions	31,611	31,611

		At 31 December 2022	257,366	257,366
		Amortisation and impairment

		Charge for the year	8,147	8,147


		At 31 December 2022	8,147	8,147
		Net book values
		At 31 December 2022	249,219	249,219
		At 31 December 2021	225,755	225,755

5	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 January 2022	85,844	85,844
		Additions	3,891	3,891


		Disposals	(3,277)	(3,277)
		At 31 December 2022	86,458	86,458
		Depreciation
		At 1 January 2022	55,189	55,189
		Charge for the year	14,375	14,375


		Disposals	(2,624)	(2,624)
		At 31 December 2022	66,940	66,940
		Net book values
		At 31 December 2022	19,518	19,518
		At 31 December 2021	30,655	30,655

6	Investments
			Investment in Subsidiaries	Total
			£	£
		Cost or valuation
		At 1 January 2022	1,832,332	1,832,332
		Additions	2,136	2,136


		At 31 December 2022	1,834,468	1,834,468
		Provisions/Impairment





		Net book values
		At 31 December 2022	1,834,468	1,834,468
		At 31 December 2021	1,832,332	1,832,332

7	Stocks
			2022	2021
			£	£

		Work in progress	-	53,576

			-	53,576

8	Debtors
			2022	2021
			£	£
		Trade debtors	168,104	177,783
		Amounts owed by group undertakings	-	47,050


		VAT recoverable	-	7,747

		Other debtors	9,666	100
		Prepayments and accrued income	51,119	14,815
			228,889	247,495

9	Creditors:
		amounts falling due within one year
			2022	2021
			£	£


		Other loans	203,872	59,937

		Trade creditors	573,655	444,640
		Amounts owed to group undertakings	2,057,673	1,842,100
		Taxes and social security	10,810	-


		Accruals and deferred income	67,726	146,665
			2,913,736	2,493,342

10	Creditors:
		amounts falling due after more than one year
			2022	2021
			£	£


		Other loans	1,218,608	1,101,959





			1,218,608	1,101,959

Share Capital

£1,216 Ordinary share capital was issued during the year

12	Reserves
			Other Reserve	Total other reserves
			£	£
		At 1 January 2021	43,205	43,205



		At 31 December 2021 and 1 January 2022	43,205	43,205



		At 31 December 2022	43,205	43,205

		Other reserve - reflects movement in equity-settled schemes.

		Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
		Profit and loss account - includes all current and prior period retained profits and losses.

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