Trade Solutions (Scotland) Limited SC208389 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the purchase, processing and sale of processed fruit to further food processors, wholesale and retail outlets Digita Accounts Production Advanced 6.30.9574.0 true 2025-09-30 SC208389 2023-05-01 2024-04-30 SC208389 2024-04-30 SC208389 bus:Director1 1 2024-04-30 SC208389 bus:OrdinaryShareClass1 2024-04-30 SC208389 core:CurrentFinancialInstruments 2024-04-30 SC208389 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC208389 core:Non-currentFinancialInstruments 2024-04-30 SC208389 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 SC208389 core:JointVenture1 2024-04-30 SC208389 core:FurnitureFittingsToolsEquipment 2024-04-30 SC208389 core:LandBuildings 2024-04-30 SC208389 core:MotorVehicles 2024-04-30 SC208389 core:AllJointVentures 2024-04-30 SC208389 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-04-30 SC208389 1 2024-04-30 SC208389 bus:SmallEntities 2023-05-01 2024-04-30 SC208389 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC208389 bus:FilletedAccounts 2023-05-01 2024-04-30 SC208389 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC208389 bus:RegisteredOffice 2023-05-01 2024-04-30 SC208389 bus:Director1 2023-05-01 2024-04-30 SC208389 bus:Director1 1 2023-05-01 2024-04-30 SC208389 bus:Director2 2023-05-01 2024-04-30 SC208389 bus:Director3 2023-05-01 2024-04-30 SC208389 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC208389 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC208389 core:JointVenture1 2023-05-01 2024-04-30 SC208389 core:JointVenture1 countries:AllCountries 2023-05-01 2024-04-30 SC208389 core:FurnitureFittings 2023-05-01 2024-04-30 SC208389 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 SC208389 core:LandBuildings 2023-05-01 2024-04-30 SC208389 core:MotorVehicles 2023-05-01 2024-04-30 SC208389 core:PlantMachinery 2023-05-01 2024-04-30 SC208389 core:AllJointVentures 2023-05-01 2024-04-30 SC208389 core:AllJointVentures core:RenderingOrReceivingServices 2023-05-01 2024-04-30 SC208389 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-05-01 2024-04-30 SC208389 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2023-05-01 2024-04-30 SC208389 core:OtherRelatedParties 2023-05-01 2024-04-30 SC208389 1 2023-05-01 2024-04-30 SC208389 countries:Scotland 2023-05-01 2024-04-30 SC208389 2023-04-30 SC208389 bus:Director1 1 2023-04-30 SC208389 core:CostValuation 2023-04-30 SC208389 core:FurnitureFittingsToolsEquipment 2023-04-30 SC208389 core:LandBuildings 2023-04-30 SC208389 core:MotorVehicles 2023-04-30 SC208389 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-04-30 SC208389 2022-05-01 2023-04-30 SC208389 2023-04-30 SC208389 bus:Director1 1 2023-04-30 SC208389 bus:OrdinaryShareClass1 2023-04-30 SC208389 core:CurrentFinancialInstruments 2023-04-30 SC208389 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC208389 core:Non-currentFinancialInstruments 2023-04-30 SC208389 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 SC208389 core:FurnitureFittingsToolsEquipment 2023-04-30 SC208389 core:LandBuildings 2023-04-30 SC208389 core:MotorVehicles 2023-04-30 SC208389 core:AllJointVentures 2023-04-30 SC208389 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-04-30 SC208389 core:OtherRelatedParties 2023-04-30 SC208389 1 2023-04-30 SC208389 bus:Director1 1 2022-05-01 2023-04-30 SC208389 core:JointVenture1 2022-05-01 2023-04-30 SC208389 core:AllJointVentures core:RenderingOrReceivingServices 2022-05-01 2023-04-30 SC208389 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-05-01 2023-04-30 SC208389 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2022-05-01 2023-04-30 SC208389 core:OtherRelatedParties 2022-05-01 2023-04-30 SC208389 2022-04-30 SC208389 bus:Director1 1 2022-04-30 SC208389 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-04-30 SC208389 core:OtherRelatedParties 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC208389

Trade Solutions (Scotland) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Trade Solutions (Scotland) Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 14

 

Trade Solutions (Scotland) Limited

Company Information

Directors

Mr Oliver Thomson

Mr Michael Thomson

Ms Helen Morrison

Registered office

East Gormack
BLAIRGOWRIE
Perthshire
PH10 6TA

Accountants

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

 

Trade Solutions (Scotland) Limited

(Registration number: SC208389)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,311,924

3,994,701

Investments

5

5,000

5,000

 

4,316,924

3,999,701

Current assets

 

Stocks

6

1,169,680

716,354

Debtors

7

5,132,549

2,822,510

Cash at bank and in hand

 

46,701

1,175,419

 

6,348,930

4,714,283

Creditors: Amounts falling due within one year

8

(1,835,686)

(692,982)

Net current assets

 

4,513,244

4,021,301

Total assets less current liabilities

 

8,830,168

8,021,002

Creditors: Amounts falling due after more than one year

8

(1,532,480)

(1,670,012)

Provisions for liabilities

(660,957)

(561,419)

Net assets

 

6,636,731

5,789,571

Capital and reserves

 

Called up share capital

9

718

718

Share premium reserve

39,832

39,832

Capital redemption reserve

450

450

Retained earnings

6,595,731

5,748,571

Shareholders' funds

 

6,636,731

5,789,571

For the financial year ending 30 April 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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

 

Trade Solutions (Scotland) Limited

(Registration number: SC208389)
Statement of Financial Position as at 30 April 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2025 and signed on its behalf by:
 

.........................................
Mr Oliver Thomson
Director

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
East Gormack
BLAIRGOWRIE
Perthshire
PH10 6TA

These financial statements were authorised for issue by the Board on 23 April 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Group accounts not prepared

The company is part of a small group. Trade Solutions (Scotland) Limited has taken advantage of the exemption provided by section 398 of the Companies Act 20016 and has not prepared group accounts.

Government grants

Capital grants are released over the life of the asset to which it relates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 income 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.

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

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

Land and buildings

5% reducing balance

Furniture, fittings and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Plant and machinery

20% & 10% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade 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 Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 18).

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

4,130,351

1,797,621

90,969

6,018,941

Additions

228,565

640,422

72,062

941,049

Disposals

-

-

(27,958)

(27,958)

At 30 April 2024

4,358,916

2,438,043

135,073

6,932,032

Depreciation

At 1 May 2023

1,034,750

928,107

61,383

2,024,240

Charge for the year

287,541

302,028

22,462

612,031

Eliminated on disposal

-

-

(16,163)

(16,163)

At 30 April 2024

1,322,291

1,230,135

67,682

2,620,108

Carrying amount

At 30 April 2024

3,036,625

1,207,908

67,391

4,311,924

At 30 April 2023

3,095,600

869,514

29,587

3,994,701

Included within the net book value of land and buildings above is £3,036,625 (2023 - £3,095,600) in respect of freehold land and buildings.

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Investments

2024
£

2023
£

Investments in joint ventures

5,000

5,000

Joint ventures

£

Cost

At 1 May 2023

5,000

Provision

Carrying amount

At 30 April 2024

5,000

At 30 April 2023

5,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Joint ventures

Holme Farm Fruits Ltd

East Gormack
Blairgowrie
Perthshire
PH10 6TA

Ordinary

50%

50%

Scotland

Joint ventures

Holme Farm Fruits Ltd

The principal activity of Holme Farm Fruits Ltd is the manufacture of aspetically packed fruit purees. Its financial period end is 30 September.
The profit for the financial period of Holme Farm Fruits Ltd was £18,326 and the aggregate amount of Capital and reserves at the end of the period was £75,677.

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Other inventories

1,169,680

716,354

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,350,470

1,728,416

Prepayments

14,143

36,726

Other debtors

3,767,936

1,057,368

 

5,132,549

2,822,510

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

664,119

134,636

Trade creditors

 

801,131

321,690

Taxation and social security

 

18,443

25,043

Accruals and deferred income

 

281,032

211,129

Other creditors

 

70,961

484

 

1,835,686

692,982

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

783,099

860,606

Deferred income

 

749,381

809,406

 

1,532,480

1,670,012

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

718

718

718

718

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

783,099

860,606

Current loans and borrowings

2024
£

2023
£

Bank borrowings

134,636

134,636

Bank overdrafts

529,483

-

664,119

134,636

Bank borrowings

Bank loan is denominated in £ with a nominal interest rate of 6.27%, and the final instalment is due on 23 March 2033. The carrying amount at year end is £917,735 (2023 - £995,242).

The bank loan is secured by a standard security over the Cold Store at East Gormack, Blairgowrie and a bond and floating charge over the whole of the assets of the company.

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

11

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Mr Oliver Thomson

Loan

64,666

80,431

(156,671)

(11,574)

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr Oliver Thomson

Loan

85,497

12,798

(33,629)

64,666

Summary of transactions with entities with joint control or significant interest

Trade Solutions (Energy) Limited - The sale of a ground source heat pump and the provision of electricity
Trade Solutions Farms Limited - Mixed farm operation

 

Summary of transactions with joint ventures

Holme Farm Fruits Limited
 

Summary of transactions with other related parties

Gormine Limited
 Provision of electricity and supply of heat
 

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Joint ventures
£

Receipt of services

133,628

130,314

Amounts receivable from related party

119,530

51,637

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

Entities with joint control or significant influence
£

Joint ventures
£

Receipt of services

120,189

93,301

Amounts receivable from related party

601,701

41,636

Expenditure with and payables to related parties

2024

Entities with joint control or significant influence
£

Joint ventures
£

Rendering of services

116,859

98,004

Amounts payable to related party

141,713

75,723

2023

Entities with joint control or significant influence
£

Joint ventures
£

Rendering of services

130,414

126,626

Amounts payable to related party

48,254

78,891

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

2,105

2,105

Advanced

3,484,165

3,484,165

At end of period

3,486,270

3,486,270

 

Trade Solutions (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

Entities with joint control or significant influence
£

Other related parties
£

Total
£

At start of period

1,025

40,000

41,025

Advanced

1,080

-

1,080

Repaid

-

(40,000)

(40,000)

At end of period

2,105

-

2,105