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REGISTERED NUMBER: SC586800 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TRADE SECRETS (U.K) LIMITED

TRADE SECRETS (U.K) LIMITED (REGISTERED NUMBER: SC586800)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRADE SECRETS (U.K) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S Annison
Ms L E Stott





REGISTERED OFFICE: 118 Mid Stocket Road
Aberdeen
United Kingdom
AB15 5JA





REGISTERED NUMBER: SC586800 (Scotland)





ACCOUNTANTS: Peter Jarman LLP
trading as
Peter Jarman & Company
1 Harbour House
Harbour Way
Shoreham by Sea
West Sussex
BN43 5HZ

TRADE SECRETS (U.K) LIMITED (REGISTERED NUMBER: SC586800)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,035 7,263
Tangible assets 5 22,583 18,138
24,618 25,401

CURRENT ASSETS
Stocks 158,266 159,400
Debtors 6 47,701 38,932
Cash at bank and in hand 78,064 98,044
284,031 296,376
CREDITORS
Amounts falling due within one year 7 (168,622 ) (191,462 )
NET CURRENT ASSETS 115,409 104,914
TOTAL ASSETS LESS CURRENT
LIABILITIES

140,027

130,315

CREDITORS
Amounts falling due after more than one
year

8

(15,822

)

(24,913

)

PROVISIONS FOR LIABILITIES 9 (4,677 ) (4,826 )
NET ASSETS 119,528 100,576

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 119,428 100,476
119,528 100,576

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

TRADE SECRETS (U.K) LIMITED (REGISTERED NUMBER: SC586800)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2024 and were signed on its behalf by:





Ms L E Stott - Director


TRADE SECRETS (U.K) LIMITED (REGISTERED NUMBER: SC586800)

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

1. STATUTORY INFORMATION

Trade Secrets (U.K) Limited is a private company, limited by shares , registered in Scotland. 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
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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

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 - 25% reducing balance
Fixtures and fittings - 10% straight line
Computer equipment - 25% straight line

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.

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.

TRADE SECRETS (U.K) LIMITED (REGISTERED NUMBER: SC586800)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 17,480
Additions 769
At 31 March 2024 18,249
AMORTISATION
At 1 April 2023 10,217
Charge for year 5,997
At 31 March 2024 16,214
NET BOOK VALUE
At 31 March 2024 2,035
At 31 March 2023 7,263

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 39,299
Additions 9,269
At 31 March 2024 48,568
DEPRECIATION
At 1 April 2023 21,161
Charge for year 4,824
At 31 March 2024 25,985
NET BOOK VALUE
At 31 March 2024 22,583
At 31 March 2023 18,138

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 47,007 38,192
Other debtors 694 740
47,701 38,932

TRADE SECRETS (U.K) LIMITED (REGISTERED NUMBER: SC586800)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,069 10,095
Trade creditors 89,245 86,029
Amounts owed to group undertakings 32,344 32,344
Taxation and social security 14,603 12,657
Other creditors 22,361 50,337
168,622 191,462

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,822 24,913

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 4,677 4,826

Deferred
tax
£   
Balance at 1 April 2023 4,826
Capital allowances in advance (149 )
of depreciation
Balance at 31 March 2024 4,677

10. RELATED PARTY DISCLOSURES

At the end of the period there was an amount of £32,344 (2022: £32,344) owed to Scott Annison Ltd, a company that Scott Annison is also a director of.