Trading Developments Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07914031 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2016 TO 31 JULY 2017

FOR

TRADING DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

Mr M J Crane

SECRETARY:

Kerry Secretarial Services Ltd

REGISTERED OFFICE:

C/O Cox Costello & Horne

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

REGISTERED NUMBER:

07914031 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

FIXED ASSETS

Tangible assets

4

-

37

CURRENT ASSETS

Debtors

5

311

1,322

Cash at bank

-

4,904

311

6,226

CREDITORS

Amounts falling due within one year

6

-

6,084

NET CURRENT ASSETS

311

142

TOTAL ASSETS LESS CURRENT LIABILITIES

311

179

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

310

178

SHAREHOLDERS' FUNDS

311

179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director on 27 April 2018 and were signed by:

Mr M J Crane - Director

1.	STATUTORY INFORMATION

Trading Developments 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

The financial statements have been prepared under the historical cost convention and in accordance with

Section 1A Small Entities of Financial Reporting Standard 102 The Financial Reporting Standard applicable in

the UK and the Republic of Ireland and the Companies Act 2006.

Transition to FRS 102

This is the first year that the company has presented its results under FRS 102. The last financial statements

under UK GAAP were for the year ended 31 January 2016. The date of transition to FRS 102 was 1 February

2015. There are no transitional adjustments arising from the first time adoption of FRS 102.

Going concern

At the reporting date, the company was non-trading and the director has considered the appropriateness of the

going concern basis for the preparation of the financial statements. The director has determined that the going

concern basis is no longer appropriate, and the financial statements have been prepared on the break-up basis.

The assets and liabilities have been adjusted to their residual amounts in the financial statements.

Turnover

Turnover comprises the rendering of services in the ordinary course of the company's activity. The company

recognises turnover when the amount of revenue and related costs can be reliably measured, it is probable that

the collectability of the related receivables is reasonably assured. Turnover is measured as the fair value of the

consideration received or receivable, excluding discounts, rebates, and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The

cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to

bringing the asset to the location and condition necessary for it to be capable of operating in the manner

intended by management.

Financial instruments

a) Debtors

Basic financial assets, including trade and other debtors, 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. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

b) Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

c) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less

any impairment.

d) Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised

as other comprehensive income or to an item recognised directly in equity is also recognised in other

comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by

the balance sheet date, except that:

-

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2016

and 31 July 2017

1,439

DEPRECIATION

At 1 February 2016

1,402

Charge for period

37

At 31 July 2017

1,439

NET BOOK VALUE

At 31 July 2017

-

At 31 January 2016

37

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.1.16

£

£

Other debtors

(1

)

1

Directors' current accounts

312

1,321

311

1,322

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.1.16

£

£

Tax

-

4,807

Other creditors

-

47

Accruals and deferred income

-

1,230

-

6,084

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 July 2017 and the year

ended 31 January 2016:

31.7.17

31.1.16

£

£

Mr M J Crane

Balance outstanding at start of period

1,321

5,847

Amounts advanced

50,168

37,504

Amounts repaid

(51,178

)

(42,030

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

311

1,321

8.	RELATED PARTY DISCLOSURES

During the reporting period, total dividends of £22,000 (2016: £18,400) were paid to the director.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M J Crane by virtue of his shareholding in the company. There has been no

change between the reporting date and date of approval of the financial statements.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Trading Developments Limited for the period ended 31 July 2017 which comprise the Profit and

loss account, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Trading Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Trading Developments Limited and state those matters that we have agreed to state to the director of Trading Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trading Developments Limited and its director for our work or for this report.

It is your duty to ensure that Trading Developments 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 Trading Developments Limited. You consider that Trading Developments Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Trading Developments 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.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

27 April 2018