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REGISTERED NUMBER: 07219036 (England and Wales)











Truly (UK) Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2025






Truly (UK) Ltd (Registered number: 07219036)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Truly (UK) Ltd

Company Information
for the Year Ended 31 March 2025







DIRECTORS: Mrs L M Gough
Mrs N J Thompson
M G Forrester





REGISTERED OFFICE: Sprinkles HQ
Unit 10
Lower Barns Business Park
Ludlow
SHROPSHIRE
SY8 4DS





REGISTERED NUMBER: 07219036 (England and Wales)





ACCOUNTANTS: Streets Dyke Ruscoe Ltd
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ

Truly (UK) Ltd (Registered number: 07219036)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 71,036 76,301
71,036 76,301

CURRENT ASSETS
Stocks 681,780 723,018
Debtors 6 203,550 130,352
Cash at bank and in hand 5,059 20,516
890,389 873,886
CREDITORS
Amounts falling due within one year 7 529,908 497,307
NET CURRENT ASSETS 360,481 376,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

431,517

452,880

CREDITORS
Amounts falling due after more than one
year

8

(6,956

)

(26,907

)

PROVISIONS FOR LIABILITIES (15,542 ) (17,806 )
NET ASSETS 409,019 408,167

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 408,919 408,067
409,019 408,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Truly (UK) Ltd (Registered number: 07219036)

Balance Sheet - continued
31 March 2025


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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





Mrs N J Thompson - Director


Truly (UK) Ltd (Registered number: 07219036)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Truly (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 Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost, 25% 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 Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Truly (UK) Ltd (Registered number: 07219036)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 33,589
AMORTISATION
At 1 April 2024
and 31 March 2025 33,589
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 9,917 75,737 55,571 32,474 173,699
Additions - 1,829 2,479 7,913 12,221
Disposals - (22,187 ) (14,718 ) (409 ) (37,314 )
At 31 March 2025 9,917 55,379 43,332 39,978 148,606
DEPRECIATION
At 1 April 2024 57 54,405 24,178 18,758 97,398
Charge for year 992 3,290 6,645 5,554 16,481
Eliminated on disposal - (22,187 ) (13,713 ) (409 ) (36,309 )
At 31 March 2025 1,049 35,508 17,110 23,903 77,570
NET BOOK VALUE
At 31 March 2025 8,868 19,871 26,222 16,075 71,036
At 31 March 2024 9,860 21,332 31,393 13,716 76,301

Truly (UK) Ltd (Registered number: 07219036)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 53,374 84,455
Other debtors 11,451 5,384
Tax 3,515 3,515
VAT 40,887 16,894
Prepayments 94,323 20,104
203,550 130,352

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 21,230 19,000
Other loans 50,704 85,563
Hire purchase contracts 46,832 -
Trade creditors 69,800 157,294
Social security and other taxes 4,965 12,041
Other creditors 4,586 1,753
Directors' current accounts 326,355 214,393
Accrued expenses 5,436 7,263
529,908 497,307

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loan 6,956 26,907