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REGISTERED NUMBER: 03146780 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

INTER TRADING LEICESTER LIMITED

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Statement of Financial Position 11

Statement of Changes in Equity 12

Statement of Cash Flows 13

Notes to the Statement of Cash Flows 14

Notes to the Financial Statements 15


INTER TRADING LEICESTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr D Bharania
Mr B Bharania


SECRETARY: Mr B Bharania


REGISTERED OFFICE: 44 Cobden Street
Leicester
LE1 2LB


REGISTERED NUMBER: 03146780 (England and Wales)


SENIOR STATUTORY AUDITOR: Mr Nimesh Pau F.C.C.A.


AUDITORS: R Pau & Co Limited
Chartered Certified Accountants
& Statutory Auditors
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ


BANKERS: National Westminster Bank Plc
Direct Business Banking
PO Box 4115
Horn Church
Essex
RM12 4DF

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2024


This report provides a balanced and comprehensive review of the development and performance of Inter Trading Leicester Limited during the reporting period, concluding with our position at year-end. Our review aligns with the size and non-complex nature of our business, taking into account the risks and uncertainties we face.

REVIEW OF BUSINESS
Business Model and Principal Objectives

Inter Trading Leicester Limited is an independent business operating in the UK, specializing in the wholesale and distribution of beers, wines, spirits, and soft drinks primarily within UK markets. Our principal objectives are:

1. To maintain and improve market share and profitability.
2. To ensure stability within the company for sustainable operations.

We generate value by fostering strong relationships with reliable suppliers, which in turn allows us to serve a loyal trade business to business customer base Sales occur from both existing stock and direct supplier transactions. This model supports our stability.

Factors Likely to Affect Future Development and Performance

Demand for products in the UK remains relatively stable; however, it is crucial to stay ahead of evolving trends in product types and consumption patterns.

PRINCIPAL RISKS AND UNCERTAINTIES
The following risks and uncertainties have been considered by the board. However, the directors believe the opportunities for growth far outweight the risks and uncertainties identified below.

Liquidity Risk

The company maintains sufficient working capital and manages liquidity risk through strong growth, generating profits that are retained to self-fund the business. Robust relationships with suppliers, banking facilities, and the ability to secure financing further mitigate this risk.

Credit Risk

We manage credit risk through regular reviews of customer credit terms and a strict credit policy management system. Immediate escalation of any credit issues is enforced, and we make reasonable provisions for bad debts where necessary. Due to our customer base's nature, the risk of bad debts remains low.

Economic Risk

Operating in a competitive marketplace, we face challenges related to pricing and documented economic issues within the entertainment sector. By maintaining strong supplier relationships and carefully analysing market data and trends, we effectively minimize these risks.

Political Risk

Currently, no significant political risks have been identified, as our customer base is primarily within the UK, facing only general risks associated with developed countries. The impacts of Brexit on our supply chain are well understood and accounted for, and the government has shown support for the entertainment sector's challenges.
The board has considered these risks and uncertainties, concluding that the opportunities for growth significantly outweigh the identified risks.


INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2024

PROGRESS TOWARDS OBJECTIVES
Key financial and performance indicators for the year are as follows:



Year

Turnover(£'000)

Operating profit(£'000)
Profit/Loss after tax
(£'000)
2024 23,190 1,063 821
2023 22,871 857 703
Change +1.01% +24.04% +16.79%

The increases in turnover, operating profit, and net profit align with our objectives of maintaining the growth in revenue, profitability, and stability.

End-of-Year Position Review

Our net asset position has improved, with increases in trade creditors and debtors remaining within acceptable limits. Our key strength-cash liquidity-remains strong, enabling us to capitalize on purchasing opportunities. Overall, the company is well-positioned for the future.

Environmental Practices

The products sold by the company have minimal environmental impact. The board believes that implementing good environmental practices enhances the company's reputation and supports our strategy. We are committed to increasing energy efficiency and reducing waste. Notably, the company does not utilize gas fuel for heating its premises.

ON BEHALF OF THE BOARD:





Mr B Bharania - Secretary


30th October 2024

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2024


The directors present their report with the financial statements of the company for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of wholesalers of beers, wines, spirits and soft drinks.

DIVIDENDS
The total distribution of dividends for the year ended 31st March 2024 will be £ 500,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

Mr D Bharania
Mr B Bharania

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements 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 financial statements 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 financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting 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 are sufficient to 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 AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, R Pau & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



Mr B Bharania - Secretary


30th October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INTER TRADING LEICESTER LIMITED


Opinion
We have audited the financial statements of Inter Trading Leicester Limited (the 'company') for the year ended 31st March 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INTER TRADING LEICESTER LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INTER TRADING LEICESTER LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outline above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the company and the industry in which it operates, we identified the principal risks
of non-compliance with laws and regulations related to the acts by the company which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition.

Audit procedures performed included:

o Review of the financial statement disclosures to underlying supporting documentation
o Enquiring of management and directors concerning actual and potential litigation and claims including knowledge of any non-compliance with laws and regulations
o In addressing the fraud risk in revenue recognition we have tested a sample of revenues recorded through agreement of booking period terms
o In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of non-compliance with laws and regulations that are not closely related to the events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
INTER TRADING LEICESTER LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Nimesh Pau F.C.C.A. (Senior Statutory Auditor)
for and on behalf of R Pau & Co Limited
Chartered Certified Accountants
& Statutory Auditors
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ

30th October 2024

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £   

TURNOVER 23,189,770 22,870,747

Cost of sales 21,502,512 20,851,411
GROSS PROFIT 1,687,258 2,019,336

Administrative expenses 624,675 1,162,076
OPERATING PROFIT 4 1,062,583 857,260

Interest receivable and similar income 35,814 7,573
PROFIT BEFORE TAXATION 1,098,397 864,833

Tax on profit 5 276,931 161,749
PROFIT FOR THE FINANCIAL YEAR 821,466 703,084

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 821,466 703,084


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

821,466

703,084

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 47,711 59,598

CURRENT ASSETS
Stocks 8 3,996,371 3,107,012
Debtors 9 3,270,976 1,307,924
Cash at bank and in hand 1,956,898 625,708
9,224,245 5,040,644
CREDITORS
Amounts falling due within one year 10 4,161,266 310,689
NET CURRENT ASSETS 5,062,979 4,729,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,110,690

4,789,553

PROVISIONS FOR LIABILITIES 11 7,054 7,383
NET ASSETS 5,103,636 4,782,170

CAPITAL AND RESERVES
Called up share capital 12 103 103
Retained earnings 13 5,103,533 4,782,067
SHAREHOLDERS' FUNDS 5,103,636 4,782,170

The financial statements were approved by the Board of Directors and authorised for issue on 30th October 2024 and were signed on its behalf by:




Mr D Bharania - Director



Mr B Bharania - Director


INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st April 2022 103 4,578,983 4,579,086

Changes in equity
Dividends - (500,000 ) (500,000 )
Total comprehensive income - 703,084 703,084
Balance at 31st March 2023 103 4,782,067 4,782,170

Changes in equity
Dividends - (500,000 ) (500,000 )
Total comprehensive income - 821,466 821,466
Balance at 31st March 2024 103 5,103,533 5,103,636

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (229,501 ) 346,882
Tax paid (5,923 ) (150,000 )
Net cash from operating activities (235,424 ) 196,882

Cash flows from investing activities
Purchase of tangible fixed assets - (45,073 )
Interest received 35,814 7,573
Net cash from investing activities 35,814 (37,500 )

Cash flows from financing activities
Amount introduced by directors 2,030,800 900
Share issue - 103
Equity dividends paid (500,000 ) (500,000 )
Net cash from financing activities 1,530,800 (498,997 )

Increase/(decrease) in cash and cash equivalents 1,331,190 (339,615 )
Cash and cash equivalents at beginning of
year

2

625,708

965,323

Cash and cash equivalents at end of year 2 1,956,898 625,708

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST MARCH 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,098,397 864,833
Depreciation charges 11,887 15,389
Finance income (35,814 ) (7,573 )
1,074,470 872,649
Increase in stocks (889,359 ) (825,752 )
(Increase)/decrease in trade and other debtors (1,963,053 ) 329,236
Increase/(decrease) in trade and other creditors 1,548,441 (29,251 )
Cash generated from operations (229,501 ) 346,882

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 1,956,898 625,708
Year ended 31st March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 625,708 965,323


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/23 Cash flow At 31/3/24
£    £    £   
Net cash
Cash at bank and in hand 625,708 1,331,190 1,956,898
625,708 1,331,190 1,956,898
Total 625,708 1,331,190 1,956,898

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Inter Trading Leicester 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The company's turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year. 1.47% of the company's turnover related to exports (2023 - 0%).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 210,765 214,163
Social security costs 2,742 3,209
Other pension costs 183,436 746,280
396,943 963,652

The average number of employees during the year was as follows:
2024 2023

Administration 6 6
Packing and Distribution 3 3
9 9

2024 2023
£    £   
Directors' remuneration 48,000 48,000
Directors' pension contributions to money purchase schemes 36,533 145,533

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 11,887 15,390

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 277,260 155,858

Deferred tax (329 ) 5,891
Tax on profit 276,931 161,749

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. DIVIDENDS
2024 2023
£    £   
Ordinary Shares shares of £1 each
Interim dividends 250,000 250,000
Ordinary A share of £1
Dividends paid 75,000 75,000
Ordinary B share of £1
Dividends paid 75,000 75,000
Ordinary C share of £1
Dividends paid 100,000 100,000
500,000 500,000

7. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023
and 31st March 2024 66,788 95,099 41,570 203,457
DEPRECIATION
At 1st April 2023 45,815 57,115 40,929 143,859
Charge for year 2,097 9,496 294 11,887
At 31st March 2024 47,912 66,611 41,223 155,746
NET BOOK VALUE
At 31st March 2024 18,876 28,488 347 47,711
At 31st March 2023 20,973 37,984 641 59,598

8. STOCKS
2024 2023
£    £   
Stock 3,996,371 3,107,012

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,704,446 950,870
PAYE and national insurance 4,097 -
Other debtors 1,539,000 350,000
Prepayments 23,433 7,054
3,270,976 1,307,924

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 622,518 290,858
Shareholder's loan account 1,000,000 -
Corporation tax 277,195 5,858
Value added taxation 212,348 -
Wages - 72
Directors' current accounts 2,036,837 6,037
Accrued expenses 12,368 7,864
4,161,266 310,689

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,054 7,383

Deferred
tax
£   
Balance at 1st April 2023 7,383
Accelerated capital allowances (329 )
Balance at 31st March 2024 7,054

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares £1 100 100
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
103 103

13. RESERVES
Retained
earnings
£   

At 1st April 2023 4,782,067
Profit for the year 821,466
Dividends (500,000 )
At 31st March 2024 5,103,533

INTER TRADING LEICESTER LIMITED (REGISTERED NUMBER: 03146780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


14. RELATED PARTY DISCLOSURES

During the year total dividends of £150,000 (2023: £150,000) were paid to directors.

The company is jointly owned by Mr D Bharania, Mr B Bharania, Mrs B D Bharania and Mrs B B Bharania.

The company owed the Bharania family £2,036,837 (2023: £6,037) at the end of the year. This loan was unsecured, interest free and repayable on demand.

During the year the company gave interest free loans to companies in which the directors had controlling interests. As at 31st March 2024, £1,539,000 was owed from these companies (2023: £350,000).

During the year the company traded with another company in which a director had a controlling interest. Sales to that company were £555,499 (2023: £552,804) and there was a balance at the year end of £21,881 (2023: £17,321) which is included in trade debtors. Purchases to that company were £246,628 (2023: £155,263) and there was a balance at the year end of £467 (2023: £NIL) which is included in trade creditors.