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Company registration number: 02639573

The Trade Link Company Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

The Trade Link Company Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

The Trade Link Company Limited

(Registration number: 02639573)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

706

917

Investment property

6

510,000

510,000

Other financial assets

7

5,897,760

5,156,232

 

6,408,466

5,667,149

Current assets

 

Debtors

8

353,072

388,760

Cash at bank and in hand

 

290,027

316,360

 

643,099

705,120

Creditors: Amounts falling due within one year

9

(71,915)

(97,510)

Net current assets

 

571,184

607,610

Total assets less current liabilities

 

6,979,650

6,274,759

Provisions for liabilities

 

Deferred tax liabilities

 

(369,809)

(221,703)

Net assets

 

6,609,841

6,053,056

Capital and reserves

 

Called up share capital

500

500

Fair value reserve

 

1,279,430

835,110

Profit and loss account

5,329,911

5,217,446

Total equity

 

6,609,841

6,053,056

 

The Trade Link Company Limited

(Registration number: 02639573)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the Board on 13 September 2024 and signed on its behalf by:
 


E J Pettit
Director


T W Davis
Director

 
 

The Trade Link Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

The Trade Link Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible assets

Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation of tangible assets

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Furniture, fittings and equipment

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Intangible assets

Separately acquired trademarks, patents and licences are shown at historical cost.

Trademarks, patents and licences have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents, trademarks and licences

10% straight line

 

The Trade Link Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are classified as fixed asset investments and are initially measured at fair value, with changes in fair value recognised in the profit or loss account. A transfer is then made to the fair value reserve to reflect that any such gains arising are not distributable.

Investments in equity shares that are not publicly traded are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Other short term creditors are initially measured at fair value net of transaction costs and subsequently at amortised cost.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2023 - 4).

 

The Trade Link Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2023

2,113

2,113

At 31 March 2024

2,113

2,113

Amortisation

At 1 April 2023

1,196

1,196

Amortisation charge

211

211

At 31 March 2024

1,407

1,407

Carrying amount

At 31 March 2024

706

706

At 31 March 2023

917

917

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

170,198

170,198

Disposals

(170,198)

(170,198)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

170,198

170,198

Eliminated on disposal

(170,198)

(170,198)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

 

The Trade Link Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

6

Investment property

2024
 £

At 1 April 2023 and 31 March 2023

510,000

The value of investment property was assessed by the directors at 31 March 2024 as being equivalent to fair value. The basis of this valuation was open market value.

Deferred tax is accounted for on amounts credited and debited to the fair value reserve as detailed in the tax accounting policy.

There has been no valuation of investment property by an independent valuer.

7

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

5,097,949

103,294

5,201,243

Fair value adjustments

592,427

-

592,427

Additions

805,092

-

805,092

Disposals

(655,991)

-

(655,991)

At 31 March 2024

5,839,477

103,294

5,942,771

Impairment

Losses made in the period

-

45,011

45,011

At 31 March 2024

-

45,011

45,011

Carrying amount

At 31 March 2024

5,839,477

58,283

5,897,760

Listed investments are held at fair value being the quoted stock exchange value.

 

The Trade Link Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

8

Debtors

2024
 £

2023
 £

Trade debtors

10,560

10,560

Other debtors

342,512

378,200

353,072

388,760

Details of non-current trade and other debtors

£61,321 (2023 -£61,321) of Other debtors is classified as non current.

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

13,620

-

Taxation and social security

3,495

30,860

Accruals and deferred income

14,800

26,650

Other creditors

40,000

40,000

71,915

97,510

 

The Trade Link Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

10

Reserves reconciliation

Fair value reserve
£

At 1 April 2023

835,110

Transfer of fair value adjustment from profit & loss

592,427

Transfer of deferred tax on fair value adjustments

(148,107)

At 31 March 2024

1,279,430

Fair value reserve
£

At 1 April 2022

1,293,375

Transfer of fair value adjustment from profit & loss

(611,020)

Transfer of deferred tax on fair value adjustments

152,755

At 31 March 2023

835,110

11

Related party transactions

Transactions with directors

An advance of £61,391 was made to the directors in the year ended 31 March 2023 and repaid in the year ended 31 March 2024. The amount outstanding at 31 March 2024 was £nil (2023- £61,391). The loan was repayable on demand and interest was charged at HMRC’s official rate.

An additional loan advance of £188,679 (2022 - £188,679) has been provided to a director of the company. The loan is repayable on demand and interest free.

12

Non adjusting events after the financial period

After the financial period end, the company's financial assets held at fair value were sold. Proceeds from the sale were distributed by way of a dividend of £6,242,324 on 28 June 2024 to the ordinary shareholder.