Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3156falsefalsetrue2024-01-01No description of principal activity53The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01443990 2024-01-01 2024-12-31 01443990 2023-01-01 2023-12-31 01443990 2024-12-31 01443990 2023-12-31 01443990 1 2024-01-01 2024-12-31 01443990 d:Director1 2024-01-01 2024-12-31 01443990 c:Buildings 2024-01-01 2024-12-31 01443990 c:Buildings 2024-12-31 01443990 c:Buildings 2023-12-31 01443990 c:Buildings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01443990 c:Buildings c:LongLeaseholdAssets 2024-01-01 2024-12-31 01443990 c:Buildings c:LongLeaseholdAssets 2024-12-31 01443990 c:Buildings c:LongLeaseholdAssets 2023-12-31 01443990 c:MotorVehicles 2024-01-01 2024-12-31 01443990 c:MotorVehicles 2024-12-31 01443990 c:MotorVehicles 2023-12-31 01443990 c:MotorVehicles c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01443990 c:FurnitureFittings 2024-01-01 2024-12-31 01443990 c:FurnitureFittings 2024-12-31 01443990 c:FurnitureFittings 2023-12-31 01443990 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01443990 c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01443990 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 01443990 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 01443990 c:Goodwill 2024-12-31 01443990 c:Goodwill 2023-12-31 01443990 c:ComputerSoftware 2024-12-31 01443990 c:ComputerSoftware 2023-12-31 01443990 c:CurrentFinancialInstruments 2024-12-31 01443990 c:CurrentFinancialInstruments 2023-12-31 01443990 c:Non-currentFinancialInstruments 2024-12-31 01443990 c:Non-currentFinancialInstruments 2023-12-31 01443990 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 01443990 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 01443990 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-12-31 01443990 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-12-31 01443990 c:RevaluationReserve 2024-01-01 2024-12-31 01443990 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01443990 d:FRS102 2024-01-01 2024-12-31 01443990 d:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 01443990 d:FullAccounts 2024-01-01 2024-12-31 01443990 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01443990 c:HirePurchaseContracts c:WithinOneYear 2024-12-31 01443990 c:HirePurchaseContracts c:WithinOneYear 2023-12-31 01443990 c:HirePurchaseContracts c:BetweenOneFiveYears 2024-12-31 01443990 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-12-31 01443990 2 2024-01-01 2024-12-31 01443990 5 2024-01-01 2024-12-31 01443990 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2024-12-31 01443990 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2023-12-31 01443990 c:LeasedAssetsHeldAsLessee 2024-12-31 01443990 c:LeasedAssetsHeldAsLessee 2023-12-31 01443990 c:Goodwill c:OwnedIntangibleAssets 2024-01-01 2024-12-31 01443990 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2024-01-01 2024-12-31 01443990 c:ComputerSoftware c:OwnedIntangibleAssets 2024-01-01 2024-12-31 01443990 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 01443990










THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Trendsetting Group Limited (formerly Trend International Group Limited) for the year ended 31 December 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of The Trendsetting Group Limited (formerly Trend International Group Limited) in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Trendsetting Group Limited (formerly Trend International Group Limited) and state those matters that we have agreed to state to the director of The Trendsetting Group Limited (formerly Trend International Group Limited) in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Trendsetting Group Limited (formerly Trend International Group Limited) and its director for our work or for this report. 

It is your duty to ensure that The Trendsetting Group Limited (formerly Trend International Group Limited) has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Trendsetting Group Limited (formerly Trend International Group Limited). You consider that The Trendsetting Group Limited (formerly Trend International Group Limited) is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Trendsetting Group Limited (formerly Trend International Group Limited). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kinnair Associates Limited
 
Chartered Accountants
  
Aston House
Redburn Road
Newcastle upon Tyne
NE5 1NB
3 June 2025
Page 1

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
REGISTERED NUMBER: 01443990

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Fixed assets
  

Intangible assets
 5 
109,115
139,566

Tangible assets
 6 
4,439,104
878,254

  
4,548,219
1,017,820

Current assets
  

Stocks
  
2,374,369
2,131,703

Debtors
 7 
1,884,052
1,519,437

Cash at bank and in hand
 8 
38,770
57,424

  
4,297,191
3,708,564

Creditors: amounts falling due within one year
 9 
(3,601,163)
(1,763,715)

Net current assets
  
 
 
696,028
 
 
1,944,849

Total assets less current liabilities
  
5,244,247
2,962,669

  

Creditors: amounts falling due after more than one year
 10 
(1,395,062)
(329,517)

  
3,849,185
2,633,152

Provisions for liabilities
  

Deferred taxation
  
(280,402)
(56,837)

  
 
 
(280,402)
 
 
(56,837)

  

Net assets excluding pension asset
  
3,568,783
2,576,315

Net assets
  
3,568,783
2,576,315


Capital and reserves
  

Called up share capital 
  
10,100
10,100

Revaluation reserve
 13 
807,963
365,241

Profit and loss account
 13 
2,750,720
2,200,974

  
3,568,783
2,576,315

Page 2

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
REGISTERED NUMBER: 01443990
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements 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 - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 June 2025.




................................................
Mr J Cowan
Director

The notes on pages 4 to 15 form part of these financial statements.

Page 3

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The Trendsetting Group Limited (formerly Trend International Group Limited) is a private company limited by shares, incorporated in England and Wales, registration number 01443990. The registered office is 351 Shields Road, Newcastle Upon Tyne, England, NE6 2UD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
With the exception of the revaluation of land and buildings, the financial statements have been prepared under the historical cost convention. 

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of normal consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.


Freehold property
-
over 50 years - see below
Long-term leasehold property
-
over the period of the lease
Motor vehicles
-
20% straight line
Fixtures and fittings
-
33%, 20% or 10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Buildings are depreciated over 50 years where the perceived estimated residual value is less than deemed cost. Buildings with estimated residual value greater than deemed cost are not depreciated.

 
2.5

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprised direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or normal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in the profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.



Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities including creditors, bank loans and loans from fellow group companies are
recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

  
2.10

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Page 6

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.11

Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.
A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a
negative fair value is recognised as a financial liability.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


  
2.13

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.

Page 7

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

  
2.15

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. 
Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

 
2.16

Operating leases: the Company as lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

 
2.17

Foreign currency translation

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

 
2.18

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.19

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.20

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 8

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.21

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.22

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including directors, during the year was 56 (2023 - 53).

Page 9

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Intangible assets




Development costs
Website costs
Goodwill
Total

£
£
£
£



Cost


At 1 January 2024
91,452
152,254
40,000
283,706



At 31 December 2024

91,452
152,254
40,000
283,706



Amortisation


At 1 January 2024
91,452
12,688
40,000
144,140


Charge for the year 
-
30,451
-
30,451



At 31 December 2024

91,452
43,139
40,000
174,591



Net book value



At 31 December 2024
-
109,115
-
109,115



At 31 December 2023
-
139,566
-
139,566



Page 10

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Freehold property
Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
771,072
-
26,183
598,756
1,396,011


Additions
-
2,564,728
-
562,627
3,127,355


Disposals
-
-
-
(166,535)
(166,535)


Revaluations
458,928
35,272
-
-
494,200



At 31 December 2024

1,230,000
2,600,000
26,183
994,848
4,851,031



Depreciation


At 1 January 2024
-
-
26,183
491,574
517,757


Charge for the year 
-
3,518
-
60,705
64,223


Disposals
-
-
-
(166,535)
(166,535)


On revalued assets
-
(3,518)
-
-
(3,518)



At 31 December 2024

-
-
26,183
385,744
411,927



Net book value



At 31 December 2024
1,230,000
2,600,000
-
609,104
4,439,104



At 31 December 2023
771,072
-
-
107,182
878,254

Page 11

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           6.Tangible fixed assets (continued)

The freehold property was valued by the directors as at 31 December 2024 at £1,230,000 being an estimate of the arm's length market value for similar properties sold in the local area.
If the freehold property had not been included at valuation it would have been included under the historical cost convention at £771,072. The freehold property was revalued on transition to FRS102 in 2015 and held at deemed cost. The property was not depreciated as the estimated residual value was greater than deemed cost.
The long leasehold property was independently revalued as at 2 April 2025 on an open market value basis by Knight Frank LLP, Chartered Surveyors in accordance with the RICS Valuation - Global Standards November 2021 (''the Red Book', effective 31 January 2022) issued by the Royal Institution of Chartered Surveyors (RICS).
The directors consider the revaluation of long leasehold property at 2 April 2025 is a reliable basis for the property valuation at the balance sheet date.
If the long leasehold property had not been included at valuation it would have been included under the historical costs convention at a net book value of £2,364,597 being cost (£2,368,115) less accumulated depreciation (£3,518).

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Fixtures and fittings
411,611
-

411,611
-


7.


Debtors

2024
2023
£
£



Trade debtors
1,493,137
1,367,778

Amounts owed by group undertakings
106,358
127,380

Prepayments and accrued income
284,557
24,279

1,884,052
1,519,437


Page 12

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
38,770
57,424

Less: bank overdrafts
(549,948)
(569,485)

(511,178)
(512,061)



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
549,948
569,485

Bank loans
2,244,150
322,910

Trade creditors
332,086
95,936

Corporation tax
-
261,113

Other taxation and social security
170,592
264,258

Obligations under finance lease and hire purchase contracts
120,354
22,445

Accruals and deferred income
184,033
227,568

3,601,163
1,763,715


The bank loans and overdrafts are secured by fixed and floating charges over the assets of the
company.
Obligations under finance and hire purchase leases are secured on the assets to which they relate.


10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,230,889
326,531

Net obligations under finance leases and hire purchase contracts
164,173
2,986

1,395,062
329,517


The bank loans and overdrafts are secured by fixed and floating charges over the assets of the
company.
Obligations under finance and hire purchase leases are secured on the assets to which they relate.

Page 13

 
THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
2,244,150
322,910


2,244,150
322,910

Amounts falling due 1-2 years

Bank loans
1,230,889
326,531


1,230,889
326,531



3,475,039
649,441



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
120,354
22,445

Between 1-5 years
164,173
2,986

284,527
25,431


13.


Reserves

Revaluation reserve

The revaluation reserve records the movements in the value of revalued assets in excess of cost net of deferred taxation. The revaluation reserve is non-distributable.

Profit and loss account

The profit and loss account reserve records retained earnings and accumulated losses.

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THE TRENDSETTING GROUP LIMITED (FORMERLY TREND INTERNATIONAL GROUP LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
146,816
-

146,816
-


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,853 (2023 - £30,635). There were no outstanding contributions at the balance sheet date (2023 - £nil).


16.


Post balance sheet events

The freehold property which was used for the purposes of the trade of the company was sold on 2 March 2025 for £1,250,000.


17.


Controlling party

The company's ultimate parent company and controlling party is Trend International Holdings Limited.

18.


Change of name

On 29 February 2024 the company changed its name from Trend International Group Limited to The Trendsetting Group Limited.

 
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