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REGISTERED NUMBER: 14285561 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2024

for

Prime Trading Group (UK) Ltd

Prime Trading Group (UK) Ltd (Registered number: 14285561)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 7

Consolidated Income Statement 12

Consolidated Other Comprehensive Income 13

Consolidated Statement of Financial Position 14

Company Statement of Financial Position 15

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Statement of Cash Flows 18

Notes to the Consolidated Statement of Cash Flows 19

Notes to the Consolidated Financial Statements 21


Prime Trading Group (UK) Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R Dempster
B Dempster
N A Dudley
M T Edwards
Ms S McCool





REGISTERED OFFICE: 15 Alban Park, Hatfield Road, St. Albans
AL4 0JJ





REGISTERED NUMBER: 14285561 (England and Wales)





AUDITORS: The Kelvin Partnership Ltd
Statutory Auditor
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Group Strategic Report
for the Year Ended 31 December 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS
The Directors are pleased to report strong growth of the Group over the past 12 months. Group turnover for the financial year was £22.2 million, up from £21.3 million, driven by a strong performance in its core business, coupled with the benefit of new client acquisition from its various startup operations. The Group has continued to invest in future growth opportunities, including a new training centre, a new corporate guarding division and in the general strengthening of sales management and sales resources across the Group. The establishment of a new digital marketing business towards the end of the year helped to further de-risk and diversify the Group by reducing its reliance on its traditional markets. Whilst fledgling, this business has exceeded expectations in terms of creating potential opportunities for the Group, as well as creating significant opportunities for improvement in relation to critical marketing activity. Planning and investment is underway for the establishment of a further new business at the start of 2025 dedicated to the research and development of new technical products in support of future growth, as well as generating distinct external revenues in 2025. The Group has also invested in streamlining processes through the introduction of new technology and automation to improve efficiency.

All businesses within the Group continue to refine the sales propositions for their products and services and this work has delivered a clarity of vision which strongly supports the Group's marketing and growth plans. The appointment of a Group Strategic Relationship Director during the year has also helped position the Group to take best advantage of the growth opportunities available to it and to drive inter-company service density sales. The Directors are happy to report its firmly held view that the necessary leadership talent is in place to achieve its strategic objectives. Employee satisfaction indicators remain strong, and the Group continues to invest in staff training and development.

Financially, the Group has performed strongly, with a joint focus on aggressive sales growth and good cost management resulting in profits before tax of £3 million in this financial year. Our return on investment approach continues to support good decision-making on the employment of working capital and ensures that the Group is putting its resources to best use. Good cash collection and robust cash planning remain key priorities for the Group and performance has been strong in both areas.

In summary, the Group is exceeding the financial objectives outlined in its current strategic plan and approaches the start of the new financial year with optimism. The Directors are highly confident that the Group is well placed to take advantage of the growth opportunities necessary to successfully achieve its 2030 vision."

PRINCIPAL RISKS AND UNCERTAINTIES
The directors convene board meetings on a monthly basis with weekly management meetings to review all existing contacts and also potential future contracts. At these meetings the principal risks and uncertainties affecting the group are discussed at length and procedures are put in place to manage and minimise these on an ongoing basis.

Financial stability and growth of the group remains a key area that our finance team review monthly to ensure we manage the diverse nature of our business. We have adequate cash reserves to ensure the groups remains in a strong financial position, to ensure we meet the aspirations of the board and fulfill our place in the industry.

FINANCIAL REVIEW AND KEY PERFORMANCE INDICATORS
As we can see from the Consolidated Statement of Comprehensive Income on pages 12, 13 and 14 the turnover is £22,231,711. Profit before taxation is £2,907,916 resulting in net assets of £10,126,384.


Prime Trading Group (UK) Ltd (Registered number: 14285561)

Group Strategic Report
for the Year Ended 31 December 2024

GOING CONCERN
All the risks and uncertainties detailed above will have consequences to the future trading of the Group. The Directors of the Group have prepared the accounts on a going concern basis as the group financial resources and secured workload will support this course of action.

In the opinion of the Directors the Group will continue in the foreseeable future and it is appropriate to prepare the financial statements on a going concern basis.

ON BEHALF OF THE BOARD:





M T Edwards - Director


9 May 2025

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of security services.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2024 will be £1,280,000 (2023 - £1,180,000).

These distributable interim dividends of £1,280,000 (2023 - £1,180,000) were paid during the year.

The profit for the year, after tax amounted to £5,307,136 (2023 - £2,918,428).

RESEARCH AND DEVELOPMENT
As explained earlier, innovation and technology have been a key focus for the Group throughout the year and the appointment of a Head of Business Transformation in the second half of the year has underpinned this. The company has invested in research and development to stay ahead of industry trends and meet the evolving needs of its customers and this has resulted in several new product development opportunities.

FUTURE DEVELOPMENTS
The use of technology to streamline and automate business processes and procedures continues to be a key area of focus.

POST BALANCE SHEET EVENTS
There have been no significant events affecting the group since the year end.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

R Dempster
B Dempster
N A Dudley
M T Edwards
Ms S McCool

FINANCIAL INSTRUMENTS
Credit risk
The group's main credit risk is from credit sales and make extensive credit risks of any new customers before entering into contracts. The group actively monitor customer debt to ensure that the risk of exposure to any loss on contracts is minimised.

Liquidity risk
Liquidity risk arises from the group's management of working capital. It is the risk that the group will encounter difficulty in meeting its financial obligations as they fall due. The directors regularly review cashflow projections to ensure working capital is appropriately managed throughout the group.

DONATIONS
During the year the group made donations to local charities of £37,360 (2023 - £12,297).


Prime Trading Group (UK) Ltd (Registered number: 14285561)

Report of the Directors
for the Year Ended 31 December 2024

GOING CONCERN
As we can see from the Consolidated Statement of Comprehensive Income on pages 12, 13 and 14 the turnover for the year was £22,231,711 (2023 - £21,364,264). Profit before taxation is £2,907,916 (2023 - £3,413,883) resulting in net assets of £10,126,384 (2023 - £7,153,564). The directors consider that these resources, together with the current sales book, sufficient to meet the needs of the business for at least the next 12 months from the date of these financial statements and have prepared these financial statements on a going concern basis as a result.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Report of the Directors
for the Year Ended 31 December 2024


AUDITORS
The auditors, The Kelvin Partnership Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M T Edwards - Director


9 May 2025

Report of the Independent Auditors to the Members of
Prime Trading Group (UK) Ltd

Opinion
We have audited the financial statements of Prime Trading Group (UK) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 group's and the parent 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.

Report of the Independent Auditors to the Members of
Prime Trading Group (UK) Ltd


Other information
The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 Directors' Responsibilities Statement set out on page five, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Prime Trading Group (UK) Ltd


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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 these can detect irregularities, including fraud is detailed below.

To assess the susceptibility of the company's financial statements to material misstatement, including how fraud may occur.

We enquired of the directors of the companies policies and procedures to detect fraud as well as
whether they have knowledge of any actual, suspected or alleged fraud
Using analytical procedures to identify any unusual or unexpected transactions

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud within the company.

As required by auditing standards we perform procedures to address the risk of management override of controls and in particular that the company management may be in a position to make inappropriate accounting entries and the risk of bias in accounting estimates and judgements.

We did not identify any additional fraud risks.

In determining the audit procedures we took into account the results of our evaluation and testing of the operating effectiveness of the company's fraud risk management controls.

We also performed procedures including:

Identifying journal entries to test for all full scope components based on risk criteria and comparing
the identified entries to supporting documentation. These included, as relevant, those posted to
unusual accounts
Assessing significant accounting estimates made by management for bias
Substantive testing on revenue
Reviewing large and unusual transactions outside the ordinary course of the company's business.
Identifying undisclosed related parties

We discussed with management matters related to actual or suspected fraud and considered any implications for our audit.

We ensured that the audit team collectively had the necessary competence and skills to recognise non-compliance with laws and regulations.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and through discussion with the directors (as required by auditing standards).

Report of the Independent Auditors to the Members of
Prime Trading Group (UK) Ltd


As the company is regulated our assessment of risks involved gaining an understanding of the control environment including the company's procedures for complying with regulatory requirements.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly the entity is subject to very strict laws and regulations that directly affect the financial statements including financial reporting legislation, including the Companies Act 2006, FRS102, the UK Corporate tax laws and UK Vat laws. We assessed the extent of the compliance with these laws and regulations by carrying out a review of the financial statement disclosures and a review of correspondence with the tax authorities.

Secondly the entity is subject to many other laws and regulations including the UK security legislation, the AML regulations, GDPR, employment law, and health and safety, where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and management and inspection of regulatory and legal correspondence, if any.

Therefore if a breach of operational regulations is not disclosed to us or evident from the relevant correspondence , an audit will not detect that breach.

Context of the ability of the audit to detect fraud or breaches of laws and regulations
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatement in the financial statements, even though we had properly planned and performed our audit in accordance with accounting standards. For example the further removed non-compliance with laws and regulations from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standard would identify it.

In addition, with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

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
Prime Trading Group (UK) Ltd


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.




Brian Meldrum CA (Senior Statutory Auditor)
for and on behalf of The Kelvin Partnership Ltd
Statutory Auditor
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

9 May 2025

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Consolidated
Income Statement
for the Year Ended 31 December 2024

Period
9.8.22
Year Ended to
31.12.24 31.12.23
Notes £    £   

TURNOVER 4 22,231,711 21,364,264

Cost of sales 10,569,048 11,184,781
GROSS PROFIT 11,662,663 10,179,483

Administrative expenses 8,713,075 6,907,246
2,949,588 3,272,237

Other operating income 1,045 182,131
OPERATING PROFIT 6 2,950,633 3,454,368

Interest receivable and similar income 8 198,892 21,979
3,149,525 3,476,347

Interest payable and similar expenses 9 241,609 63,094
PROFIT BEFORE TAXATION 2,907,916 3,413,253

Tax on profit 10 792,392 976,203
PROFIT FOR THE FINANCIAL
YEAR

2,115,524

2,437,050
Profit attributable to:
Owners of the parent 2,115,524 2,437,050

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Consolidated
Other Comprehensive Income
for the Year Ended 31 December 2024

Period
9.8.22
Year Ended to
31.12.24 31.12.23
Notes £    £   

PROFIT FOR THE YEAR 2,115,524 2,437,050


OTHER COMPREHENSIVE INCOME
Fair value reserve 2,137,196 -
Income tax relating to other
comprehensive income

-

-
OTHER COMPREHENSIVE
INCOME FOR THE YEAR, NET OF
INCOME TAX


2,137,196


-
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

4,252,720

2,437,050

Total comprehensive income attributable to:
Owners of the parent 4,252,720 2,437,050

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Consolidated Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 13 5,386,405 2,667,858

CURRENT ASSETS
Stocks 14 102,806 -
Debtors 15 4,743,449 5,180,172
Cash at bank and in hand 5,478,406 6,278,523
10,324,661 11,458,695
CREDITORS
Amounts falling due within one year 16 4,600,301 5,774,310
NET CURRENT ASSETS 5,724,360 5,684,385
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,110,765

8,352,243

CREDITORS
Amounts falling due after more than one
year

17

(853,401

)

(937,297

)

PROVISIONS FOR LIABILITIES 21 (130,980 ) (261,382 )
NET ASSETS 10,126,384 7,153,564

CAPITAL AND RESERVES
Called up share capital 22 10,600 10,500
Fair value reserve 23 1,967,220 -
Retained earnings 23 8,148,564 7,143,064
SHAREHOLDERS' FUNDS 10,126,384 7,153,564

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





M T Edwards - Director


Prime Trading Group (UK) Ltd (Registered number: 14285561)

Company Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 13 5,333,940 2,624,188

CURRENT ASSETS
Debtors 15 1,298,508 623,750
Cash at bank 4,283,471 3,431,659
5,581,979 4,055,409
CREDITORS
Amounts falling due within one year 16 2,605,162 3,984,765
NET CURRENT ASSETS 2,976,817 70,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,310,757

2,694,832

CREDITORS
Amounts falling due after more than one
year

17

(717,095

)

(751,691

)

PROVISIONS FOR LIABILITIES 21 (77,823 ) (194,713 )
NET ASSETS 7,515,839 1,748,428

CAPITAL AND RESERVES
Called up share capital 22 10,000 10,000
Fair value reserve 1,570,299 -
Retained earnings 5,935,540 1,738,428
SHAREHOLDERS' FUNDS 7,515,839 1,748,428

Company's profit for the financial year 5,307,136 2,918,428

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:




M T Edwards - Director


Prime Trading Group (UK) Ltd (Registered number: 14285561)

Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 9 August 2022 - 5,886,014 - 5,886,014

Changes in equity
Issue of share capital 10,500 - - 10,500
Dividends - (1,180,000 ) - (1,180,000 )
Total comprehensive income - 2,437,050 - 2,437,050
Balance at 31 December 2023 10,500 7,143,064 - 7,153,564

Changes in equity
Issue of share capital 100 - - 100
Dividends - (1,280,000 ) - (1,280,000 )
Total comprehensive income - 2,285,500 1,967,220 4,252,720
Balance at 31 December 2024 10,600 8,148,564 1,967,220 10,126,384

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Company Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   

Changes in equity
Issue of share capital 10,000 - - 10,000
Dividends - (1,180,000 ) - (1,180,000 )
Total comprehensive income - 2,918,428 - 2,918,428
Balance at 31 December 2023 10,000 1,738,428 - 1,748,428

Changes in equity
Dividends - (1,280,000 ) - (1,280,000 )
Total comprehensive income - 5,477,112 1,570,299 7,047,411
Balance at 31 December 2024 10,000 5,935,540 1,570,299 7,515,839

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Consolidated Statement of Cash Flows
for the Year Ended 31 December 2024

Period
9.8.22
Year Ended to
31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,962,292 3,303,673
Interest paid (225,395 ) (48,792 )
Interest element of hire purchase
payments paid

(16,214

)

(14,302

)
Tax paid (1,013,414 ) (748,363 )
Net cash from operating activities 1,707,269 2,492,216

Cash flows from investing activities
Purchase of tangible fixed assets (1,418,781 ) (1,918,209 )
Sale of tangible fixed assets 28,009 331,446
Interest received 198,892 21,979
Net cash from investing activities (1,191,880 ) (1,564,784 )

Cash flows from financing activities
New loans in year - 805,000
Loan repayments (32,233 ) (20,434 )
New HP loans in year 114,020 326,125
HP capital repayments in year (117,393 ) (84,456 )
Amount introduced by directors - 354,737
Amount withdrawn by directors - (140,000 )
Share issue 100 -
Equity dividends paid (1,280,000 ) (1,180,000 )
Opening bank balances - 5,290,119
Net cash from financing activities (1,315,506 ) 5,351,091

(Decrease)/increase in cash and cash equivalents (800,117 ) 6,278,523
Cash and cash equivalents at
beginning of year

2

6,278,523

-

Cash and cash equivalents at end of
year

2

5,478,406

6,278,523

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 December 2024

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

Period
9.8.22
Year Ended to
31.12.24 31.12.23
£    £   
Profit before taxation 2,907,916 3,413,253
Depreciation charges 623,218 488,693
Loss on disposal of fixed assets 16,227 1,372
Finance costs 241,609 63,094
Finance income (198,892 ) (21,979 )
3,590,078 3,944,433
Increase in stocks (102,806 ) -
Decrease/(increase) in trade and other debtors 436,723 (5,180,172 )
(Decrease)/increase in trade and other creditors (961,703 ) 4,539,412
Cash generated from operations 2,962,292 3,303,673

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 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 5,478,406 6,278,523
Period ended 31 December 2023
31.12.23 9.8.22
£    £   
Cash and cash equivalents 6,278,523 -


Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 December 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank and in hand 6,278,523 (800,117 ) 5,478,406
6,278,523 (800,117 ) 5,478,406
Debt
Finance leases (241,669 ) 3,373 (238,296 )
Debts falling due within 1 year (32,875 ) (2,363 ) (35,238 )
Debts falling due after 1 year (751,691 ) 34,596 (717,095 )
(1,026,235 ) 35,606 (990,629 )
Total 5,252,288 (764,511 ) 4,487,777

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Prime Trading Group (UK) Ltd 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 General Information page.

2. ACCOUNTING POLICIES

2.1 Accounting convention
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 as modified by the revaluation of certain assets.

The preparation of financial statement in compliance with FRS102 requires the use of certain critical accounting estimate. It also requires management to exercise judgement in applying the companies accounting policies (see Note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The functional and presentation currency is GPB and these accounts are rounded to the nearest pound.

The following principal accounting policies have been applied:

Financial Reporting Standard 102 - reduced disclosure exemptions
The group has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirement of paragraph 33.7.

Basis of consolidation
The consolidated financial statements present the results of the Parent company and its subsidiaries as if they form a separate entity. Intercompany transactions and balances between the group companies are therefore fully eliminated.

The consolidated financial statements incorporate the results of the parent company and its subsidiaries using the purchase method. The results of the subsidiaries are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained and similarly deconsolidated from the date the control ceases.

Going concern
As we can see from the Consolidated Statement of Comprehensive Income on pages 12, 13 and 14 the turnover is £22,231,711. Profit before taxation is £2,907,916 resulting in net assets of £10,126,384. The directors consider that these resources, together with the current sales book, sufficient to meet the needs of the business for at least the next 12 months from the date of these financial statements and have prepared these financial statements on a going concern basis as a result.

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

Financial assets and liabilities are only 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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Statement of Comprehensive Income.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost and 20% 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 Consolidated 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised where a legal or constructive obligation has been incurred which will probably lead to an outflow of resources that can be reasonably estimated. Provisions are recorded for the estimated ultimate liability that is expected to arise, taking into account the time value of money where material.

A contingent liability is disclosed where the existence of the obligation will only be confirmed by future events, or where the amount of the obligation cannot be measured with reasonable reliability. Contingent assets are not recognised but are disclosed where an inflow of economic benefits is probable.

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.

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

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

Holiday pay accrual
A liability is recognised to the extent of any unused pay entitlement which is accrued at the statement of financial position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the statement of financial position date.

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

3. CRITICAL ACCOUNTING JUDGEMENTS

In the application of the groups accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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.

Estimates

Tangible fixed assets

The useful economic life of the fixed assets and the depreciation rate applied.

Whether there are indicators of impairment of tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

Judgements

Trade debtors

Whether any bad debt provision is required via review of trade debtors, with debts provided for on a specific basis.

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 if the revision affects only that period, or if the period of the revisions and future periods if the revision affects both current and future periods.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

5. EMPLOYEES AND DIRECTORS

£ £
Wages and salaries 4,943,622 3,615,688
Social security costs 530,382 400,299
Pension costs 138,341 119,680
5,612,345 4,135,667

The average number of employees during the period was as follows: 156 156


The average number of employees by undertakings that were proportionately consolidated during the period was NIL.

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

Period
9.8.22
Year Ended to
31.12.24 31.12.23
£    £   
Directors' remuneration 461,857 458,175
Directors' pension contributions to money purchase schemes 22,315 15,919

Information regarding the highest paid director is as follows:
Period
9.8.22
Year Ended to
31.12.24 31.12.23
£    £   
Emoluments etc 290,196 180,418
Pension contributions to money purchase schemes 8,584 3,908

6. OPERATING PROFIT

The operating profit is stated after charging:

£
Depreciation - owned assets 488,693
Loss on disposal of fixed assets 1,372

7. AUDITORS' REMUNERATION
Period
9.8.22
Year Ended to
31.12.24 31.12.23
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

24,404

18,900
Total audit fees 24,404 18,900

Auditors' remuneration for non audit work 3,600 3,100
Total non-audit fees 3,600 3,100
Total fees payable 28,004 22,000

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

8. INTEREST RECEIVABLE AND SIMILAR INCOME
Period
9.8.22
Year Ended to
31.12.24 31.12.23
£    £   
Deposit account interest 198,892 21,291
VAT Refund - 688
198,892 21,979

9. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
9.8.22
Year Ended to
31.12.24 31.12.23
£    £   
Bank interest 51 -
Bank loan interest 155,344 48,792
Profit share on investment 70,000 -
Hire purchase 16,214 14,302
241,609 63,094

10. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
9.8.22
Year Ended to
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 840,603 931,223
Prior year under provision 82,191 -
Total current tax 922,794 931,223

Deferred tax (130,402 ) 44,980
Tax on profit 792,392 976,203

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

10. TAXATION - continued

Tax effects relating to effects of other comprehensive income

31.12.24
Gross Tax Net
£    £    £   
Fair value reserve 2,137,196 - 2,137,196

11. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


12. DIVIDENDS
Period
9.8.22
Year Ended to
31.12.24 31.12.23
£    £   
Ordinary shares of 1 each
Interim 1,280,000 1,180,000

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

13. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 January 2024 1,024,619 22,493 2,992,728
Additions - 38,990 1,182,574
Disposals - - -
Revaluations - - 1,967,220
At 31 December 2024 1,024,619 61,483 6,142,522
DEPRECIATION
At 1 January 2024 94,000 750 1,625,580
Charge for year - 9,147 469,272
Eliminated on disposal - - -
At 31 December 2024 94,000 9,897 2,094,852
NET BOOK VALUE
At 31 December 2024 930,619 51,586 4,047,670
At 31 December 2023 930,619 21,743 1,367,148

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2024 35,042 472,894 105,695 4,653,471
Additions 16,230 135,319 45,668 1,418,781
Disposals - (193,248 ) - (193,248 )
Revaluations - - - 1,967,220
At 31 December 2024 51,272 414,965 151,363 7,846,224
DEPRECIATION
At 1 January 2024 24,364 187,616 53,303 1,985,613
Charge for year 7,955 99,315 37,529 623,218
Eliminated on disposal - (149,012 ) - (149,012 )
At 31 December 2024 32,319 137,919 90,832 2,459,819
NET BOOK VALUE
At 31 December 2024 18,953 277,046 60,531 5,386,405
At 31 December 2023 10,678 285,278 52,392 2,667,858

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

13. TANGIBLE FIXED ASSETS - continued

Group

Cost or valuation at 31 December 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2024 - - 1,967,220
Cost 1,024,619 61,483 4,175,302
1,024,619 61,483 6,142,522

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2024 - - - 1,967,220
Cost 51,272 414,965 151,363 5,879,004
51,272 414,965 151,363 7,846,224

Company
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 January 2024 1,274,979 - 1,370,793
Additions - 27,017 1,574,907
Revaluations - - 1,570,299
At 31 December 2024 1,274,979 27,017 4,515,999
DEPRECIATION
At 1 January 2024 - - 35,110
Charge for year - 2,911 456,728
At 31 December 2024 - 2,911 491,838
NET BOOK VALUE
At 31 December 2024 1,274,979 24,106 4,024,161
At 31 December 2023 1,274,979 - 1,335,683

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

13. TANGIBLE FIXED ASSETS - continued

Company

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 - 18,193 2,663,965
Additions 2,066 1,624 1,605,614
Revaluations - - 1,570,299
At 31 December 2024 2,066 19,817 5,839,878
DEPRECIATION
At 1 January 2024 - 4,667 39,777
Charge for year 225 6,297 466,161
At 31 December 2024 225 10,964 505,938
NET BOOK VALUE
At 31 December 2024 1,841 8,853 5,333,940
At 31 December 2023 - 13,526 2,624,188

Cost or valuation at 31 December 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2024 - - 4,515,999
Cost 1,274,979 27,017 -
1,274,979 27,017 4,515,999

Fixtures
and Computer
fittings equipment Totals
£    £    £   
Valuation in 2024 - - 4,515,999
Cost 2,066 19,817 1,323,879
2,066 19,817 5,839,878

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

14. STOCKS

Group
31.12.24 31.12.23
£    £   
Stocks 102,806 -

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Trade debtors 4,001,791 4,678,087 38,498 69,005
Amounts owed by group undertakings - - 930,541 361,964
Other debtors 182,200 50,033 36,026 10,000
VAT - - 173,206 23,567
Prepayments 559,458 452,052 120,237 159,214
4,743,449 5,180,172 1,298,508 623,750

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank loans and overdrafts (see note 18) 35,238 32,875 35,238 32,875
Hire purchase contracts (see note 19) 101,990 56,063 - -
Trade creditors 1,029,418 1,380,210 41,681 41,841
Amounts owed to group undertakings - - 1,001,495 2,878,404
Tax 840,603 931,223 - -
Social security and other taxes 173,617 141,362 23,563 41,297
Pension Fund - 665 - 665
VAT 277,662 409,587 - -
Other creditors 144,390 936,806 7,000 6,009
Staff Advances - 817 - 817
Directors' current accounts 36,937 214,737 - -
Accrued dividend tax - 487,027 - 487,027
Accrued expenses 1,960,446 1,182,938 1,496,185 495,830
4,600,301 5,774,310 2,605,162 3,984,765

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank loans (see note 18) 717,095 751,691 717,095 751,691
Hire purchase contracts (see note 19) 136,306 185,606 - -
853,401 937,297 717,095 751,691

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 35,238 32,875 35,238 32,875
Amounts falling due between one and two years:
Bank loans - 1-2 years 37,806 35,297 37,806 35,297
Amounts falling due between two and five years:
Bank loans - 2-5 years 130,356 220,035 130,356 220,035
Bank Loan > 5 years 548,933 496,359 548,933 496,359
679,289 716,394 679,289 716,394

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 101,990 56,063
Between one and five years 136,306 185,606
238,296 241,669

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

20. SECURED DEBTS

The following secured debts are included within creditors:

Company
31.12.24 31.12.23
£    £   
Bank loans 752,333 784,566

Bank Loan
Standard Security and Negative Pledge in favour of Bank of Scotland plc



Hire Purchase
Hire purchase is secured over the assets it relates to.

21. PROVISIONS FOR LIABILITIES

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Deferred tax 130,980 261,382 77,823 194,713

Group
Deferred
tax
£   
Balance at 1 January 2024 261,382
Credit to Income Statement during year (130,402 )
Balance at 31 December 2024 130,980

Company
Deferred
tax
£   
Balance at 1 January 2024 194,713
Credit to Income Statement during year (116,890 )
Balance at 31 December 2024 77,823

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

22. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
10,500 Share capital 1 1 10,600 10,500

23. RESERVES

Group
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2024 7,143,064 - 7,143,064
Profit for the year 2,115,524 2,115,524
Dividends (1,280,000 ) (1,280,000 )
Revaluation - 2,137,196 2,137,196
Amortisation 169,976 (169,976 ) -
At 31 December 2024 8,148,564 1,967,220 10,115,784

Company
Fair
value
reserve
£   
Revaluation 1,740,275
Amortisation (169,976 )

At 31 December 2024 1,570,299


24. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

25. POST BALANCE SHEET EVENTS

There have been no significant events affecting the group since the year end.

Prime Trading Group (UK) Ltd (Registered number: 14285561)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

26. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.