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REGISTERED NUMBER: 05928563 (England and Wales)















TRADEMAGIC LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






TRADEMAGIC LIMITED (REGISTERED NUMBER: 05928563)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRADEMAGIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: R H Hocknull
A L Hocknull





REGISTERED OFFICE: Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL





BUSINESS ADDRESS: North Works
Westgate
Aldridge
WS9 8UF





REGISTERED NUMBER: 05928563 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

TRADEMAGIC LIMITED (REGISTERED NUMBER: 05928563)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 406,670 346,149

CURRENT ASSETS
Stocks 714,109 1,180,426
Debtors 5 2,150,622 2,448,413
Cash at bank 175,186 107,734
3,039,917 3,736,573
CREDITORS
Amounts falling due within one year 6 2,008,691 2,542,683
NET CURRENT ASSETS 1,031,226 1,193,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,437,896

1,540,039

CREDITORS
Amounts falling due after more than one
year

7

(321,289

)

(450,000

)

PROVISIONS FOR LIABILITIES (77,553 ) (45,794 )
NET ASSETS 1,039,054 1,044,245

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,038,954 1,044,145
SHAREHOLDERS' FUNDS 1,039,054 1,044,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

TRADEMAGIC LIMITED (REGISTERED NUMBER: 05928563)

BALANCE SHEET - continued
31 OCTOBER 2023


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 6 March 2024 and were signed on its behalf by:





A L Hocknull - Director


TRADEMAGIC LIMITED (REGISTERED NUMBER: 05928563)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Trademagic 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 20% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 year 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.

TRADEMAGIC LIMITED (REGISTERED NUMBER: 05928563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Development grants
Regional growth fund grant in respect of capital expenditure treated as deferred income and shall be recognised in profit or loss of the period in which it becomes receivable and when the performance-related conditions are met.

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2022 134,440 616,768 20,080
Additions 8,554 88,959 -
At 31 October 2023 142,994 705,727 20,080
DEPRECIATION
At 1 November 2022 29,313 394,076 10,818
Charge for year 17,221 48,296 1,376
At 31 October 2023 46,534 442,372 12,194
NET BOOK VALUE
At 31 October 2023 96,460 263,355 7,886
At 31 October 2022 105,127 222,692 9,262

TRADEMAGIC LIMITED (REGISTERED NUMBER: 05928563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 26,950 25,024 823,262
Additions 34,461 9,773 141,747
At 31 October 2023 61,411 34,797 965,009
DEPRECIATION
At 1 November 2022 18,422 24,484 477,113
Charge for year 10,747 3,586 81,226
At 31 October 2023 29,169 28,070 558,339
NET BOOK VALUE
At 31 October 2023 32,242 6,727 406,670
At 31 October 2022 8,528 540 346,149

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 39,250 - 39,250
Additions - 34,461 34,461
Transfer to ownership (39,250 ) - (39,250 )
At 31 October 2023 - 34,461 34,461
DEPRECIATION
At 1 November 2022 20,325 - 20,325
Charge for year - 8,615 8,615
Transfer to ownership (20,325 ) - (20,325 )
At 31 October 2023 - 8,615 8,615
NET BOOK VALUE
At 31 October 2023 - 25,846 25,846
At 31 October 2022 18,925 - 18,925

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,464,484 1,541,362
Amounts owed by group undertakings 645,271 839,532
Other debtors 40,867 67,519
2,150,622 2,448,413

TRADEMAGIC LIMITED (REGISTERED NUMBER: 05928563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 150,000 150,000
Hire purchase contracts (see note 8) 8,091 6,819
Trade creditors 723,791 1,124,480
Taxation and social security 318,817 435,969
Other creditors 807,992 825,415
2,008,691 2,542,683

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 300,000 450,000
Hire purchase contracts (see note 8) 21,289 -
321,289 450,000

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 8,091 6,819
Between one and five years 21,289 -
29,380 6,819

Non-cancellable operating leases
2023 2022
£    £   
Within one year 125,500 127,258
Between one and five years 177,792 303,292
303,292 430,550

TRADEMAGIC LIMITED (REGISTERED NUMBER: 05928563)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 450,000 600,000
Hire purchase contracts 29,380 6,819
Factor account 802,404 820,827
1,281,784 1,427,646

HSBC UK Bank PLC holds a fixed and floating charge over the assets of the Company dated 7 October 2021.

Barclays Security Trustee LImited holds a fixed and floating charge over the assets of the Company dated 21 May 2020.

Barclays Bank PLC hold a fixed and floating charge over the assets of the Company dated 28 March 2018.

10. RELATED PARTY DISCLOSURES

As at the balance sheet date the Company was owed £645,271 (2022 £839,532) by Trademagic Holdings Limited. The debt is repayable on demand and no interest is charged on the outstanding amount.