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REGISTERED NUMBER: 02916888 (England and Wales)









Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Tuscor Lloyds (UK) Limited

Tuscor Lloyds (UK) Limited (Registered number: 02916888)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Tuscor Lloyds (UK) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Ms G Morgan
Mrs A M C Manrai
N Rodriguez



SECRETARY: Ms G Morgan



REGISTERED OFFICE: 16 Blackmore Road
Trafford Park
Stretford
Greater Manchester
M32 0QY



REGISTERED NUMBER: 02916888 (England and Wales)



SENIOR STATUTORY AUDITOR: Stephen Gray, BSc, FCA



AUDITORS: Crowther Jordan Limited
Chartered Accountants
Statutory Auditors
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

Strategic Report
for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
In 2024, the business performed adequately considering global freight conditions. Although revenue is lower than in 2023, gross profits remains similar.


2024 2023 Variance
Turnover £25,645,056 £27,340,597 (£1,695,541)
Gross Profit £5,724,616 £5,630,434 £94,182


Non-Financial KPI are related to customer retention and split between direct shippers and other freight forwarders. The business model continues to be successful in executing these targets.


% Bookings % Revenue Stream
Direct Shipper bookings 69% 60%
Non Shipper bookings 31% 40%

PRINCIPAL RISKS AND UNCERTAINTIES
Key events in 2024 have led to the ongoing closure of the Red Sea/Suez Canal due to security concerns related to Israel's conflict in Gaza. This has resulted in longer sea transit times, reduction in liner performance, and uncertainty regarding pricing. Despite this, the issue has not negatively impacted the business's financial performance, as our rates are aligned with the market, allowing any increases to be passed on.

The company maintains strong collaborative relationships with major global shipping companies. This enables us to secure competitive rates and vessel space, particularly during periods of limited capacity or peak seasons.

The company faces minimal credit risk and currency fluctuation. It effectively manages these risks by carefully selecting credit agreements with debtors and balancing cash flow needs through credit arrangements with creditors.

The company is free of debt and can utilize short-term financial support from its reserves or, when appropriate, from its holding company.

FUTURE DEVELOPMENTS
2025 will likely be challenging for global trade due to US trade tariffs and economic downturns linked to global interest rates. Nonetheless, the business is well-prepared to navigate these challenges and will focus on maximizing profit margins for shareholders.


Tuscor Lloyds (UK) Limited (Registered number: 02916888)

Strategic Report
for the Year Ended 31 December 2024

CONCLUDING SUMMARY
The business remains profitable with a diverse customer base and provides excellent profits compared to its peers.

Staff remain engaged with the business and its targets with no significant changes in numbers or personnel.

Looking ahead to 2025 and beyond, although the company does not anticipate the high freight prices experienced in 2022 and 2023, it remains confident in its capacity to achieve profitability for shareholders and provide outstanding working conditions for its stakeholders.

The organization's customers and suppliers will continue to benefit from collaborating with a well-structured and debt-free entity within their supply chain.

ON BEHALF OF THE BOARD:





Ms G Morgan - Director


5 August 2025

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

Report of the Directors
for the Year Ended 31 December 2024

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

PRINCIPAL ACTIVITY
Tuscor Lloyds (UK) Limited operates as an international freight forwarder based in Manchester. The principal activity of the company is export by sea freight.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2024 will be £ 680,342 .

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

Ms G Morgan
Mrs A M C Manrai
N Rodriguez

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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). 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

ON BEHALF OF THE BOARD:



Ms G Morgan - Secretary


5 August 2025

Report of the Independent Auditors to the Members of
Tuscor Lloyds (UK) Limited

Opinion
We have audited the financial statements of Tuscor Lloyds (UK) Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, 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 company's affairs as at 31 December 2024 and of its 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 company 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.

Material uncertainty 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 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.

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

Report of the Independent Auditors to the Members of
Tuscor Lloyds (UK) Limited


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

Report of the Independent Auditors to the Members of
Tuscor Lloyds (UK) Limited


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:

We identified areas of laws and regulation that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors, and other management, and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws, and regulations through 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.

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), pensions legislation, and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Whilst the the procedures undertaken to detect irregularities vary from audit to audit, based on the specific audit risks identified and assessed as material, the procedures may include the following:

* Enquiry of management and key staff

* Reviewing minutes of meetings

* Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

* Performing audit work over the risk of management override including testing of journals and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

In addition, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines. We identified the following areas as those most likely to have such an effect: health and safety, General Data Protection Regulation (GDP), fraud, bribery and corruption and employment law. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance 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
Tuscor Lloyds (UK) Limited


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.




Stephen Gray, BSc, FCA (Senior Statutory Auditor)
for and on behalf of Crowther Jordan Limited
Chartered Accountants
Statutory Auditors
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

5 August 2025

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

Statement of Income and Retained Earnings
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

REVENUE 3 25,645,056 27,340,597

Cost of sales 19,920,440 21,710,163
GROSS PROFIT 5,724,616 5,630,434

Administrative expenses 4,802,838 3,982,347
921,778 1,648,087

Other operating income 3,968 -
OPERATING PROFIT 5 925,746 1,648,087

Interest receivable and similar income 41,551 9,234
PROFIT BEFORE TAXATION 967,297 1,657,321

Tax on profit 6 243,001 409,902
PROFIT FOR THE FINANCIAL YEAR 724,296 1,247,419

Retained earnings at beginning of year 3,240,977 1,993,558

Dividends 7 (680,342 ) -

RETAINED EARNINGS AT END OF YEAR 3,284,931 3,240,977

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 8 462,930 417,751

CURRENT ASSETS
Debtors 9 3,089,392 3,287,825
Cash at bank and in hand 2,634,533 3,182,300
5,723,925 6,470,125
CREDITORS
Amounts falling due within one year 10 2,882,892 3,606,129
NET CURRENT ASSETS 2,841,033 2,863,996
TOTAL ASSETS LESS CURRENT LIABILITIES 3,303,963 3,281,747

PROVISIONS FOR LIABILITIES 12 19,029 40,767
NET ASSETS 3,284,934 3,240,980

CAPITAL AND RESERVES
Called up share capital 13 2 2
Capital redemption reserve 14 1 1
Retained earnings 14 3,284,931 3,240,977
SHAREHOLDERS' FUNDS 3,284,934 3,240,980

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 5 August 2025 and were signed on its behalf by:





Ms G Morgan - Director


Tuscor Lloyds (UK) Limited (Registered number: 02916888)

Cash Flow Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,015,928 2,216,717
Tax paid (705,142 ) (434,330 )
Net cash from operating activities 310,786 1,782,387

Cash flows from investing activities
Purchase of tangible fixed assets (265,392 ) (326,158 )
Sale of tangible fixed assets 68,886 116,110
Interest received 41,551 9,234
Net cash from investing activities (154,955 ) (200,814 )

Cash flows from financing activities
Amounts owed by related parties (23,256 ) 13,715
Amounts owed by group undertakings - 17,340
Equity dividends paid (680,342 ) -
Net cash from financing activities (703,598 ) 31,055

(Decrease)/increase in cash and cash equivalents (547,767 ) 1,612,628
Cash and cash equivalents at beginning of
year

2

3,182,300

1,569,672

Cash and cash equivalents at end of year 2 2,634,533 3,182,300

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2024

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

31.12.24 31.12.23
£    £   
Profit before taxation 967,297 1,657,321
Depreciation charges 154,310 142,054
Profit on disposal of fixed assets (2,983 ) (24,840 )
Finance income (41,551 ) (9,234 )
1,077,073 1,765,301
Decrease in trade and other debtors 446,401 355,223
(Decrease)/increase in trade and other creditors (507,546 ) 96,193
Cash generated from operations 1,015,928 2,216,717

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 2,634,533 3,182,300
Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 3,182,300 1,569,672


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 3,182,300 (547,767 ) 2,634,533
3,182,300 (547,767 ) 2,634,533
Total 3,182,300 (547,767 ) 2,634,533

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

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

1. STATUTORY INFORMATION

Tuscor Lloyds (UK) Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Related party exemption
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 the parent or wholly owned members of the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

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

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. REVENUE

The revenue and profit before taxation are attributable to the one principal activity of the company.

An analysis of revenue by geographical market is given below:

31.12.24 31.12.23
£    £   
United Kingdom 14,333,945 16,192,824
Europe 1,674,920 2,298,972
Rest of World 9,636,191 8,848,801
25,645,056 27,340,597

4. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 3,200,690 2,484,307
Social security costs 431,875 322,817
Other pension costs 163,627 102,887
3,796,192 2,910,011

The average number of employees during the year was as follows:
31.12.24 31.12.23

Management 4 4
Sales 12 12
Accounts & Administration 12 12
28 28

31.12.24 31.12.23
£    £   
Directors' remuneration 459,916 377,578
Directors' pension contributions to money purchase schemes 61,492 26,783

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

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

4. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
31.12.24 31.12.23
£    £   
Emoluments etc 173,856 138,281
Pension contributions to money purchase schemes 29,730 13,828

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24 31.12.23
£    £   
Hire of plant and machinery 1,572 1,326
Depreciation - owned assets 154,310 142,054
Profit on disposal of fixed assets (2,983 ) (24,840 )
Auditors' remuneration 14,953 10,500
Foreign exchange differences (3,968 ) -

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 264,739 400,229

Deferred tax (21,738 ) 9,673
Tax on profit 243,001 409,902

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
£    £   
Profit before tax 967,297 1,657,321
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 23.520%)

241,824

389,802

Effects of:
Expenses not deductible for tax purposes 12,315 16,773
Capital allowances in excess of depreciation - (6,346 )
Depreciation in excess of capital allowances 10,600 -
Deferred tax movement (21,738 ) 9,673
Total tax charge 243,001 409,902

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

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

7. DIVIDENDS
31.12.24 31.12.23
£    £   
Interim 680,342 -

8. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 247,482 607,370 263,523 1,118,375
Additions 6,343 253,140 5,909 265,392
Disposals - (146,879 ) - (146,879 )
At 31 December 2024 253,825 713,631 269,432 1,236,888
DEPRECIATION
At 1 January 2024 217,769 236,135 246,720 700,624
Charge for year 9,014 139,618 5,678 154,310
Eliminated on disposal - (80,976 ) - (80,976 )
At 31 December 2024 226,783 294,777 252,398 773,958
NET BOOK VALUE
At 31 December 2024 27,042 418,854 17,034 462,930
At 31 December 2023 29,713 371,235 16,803 417,751

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 2,728,490 3,141,601
Amounts owed by related parties 10,954 3,160
Other debtors 31,310 19,580
Corporation tax 240,174 -
VAT 73,914 118,934
Prepayments 4,550 4,550
3,089,392 3,287,825

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 2,223,526 3,082,760
Amounts owed to group undertakings 27,339 27,339
Amounts owed to related parties 175 15,638
Corporation tax - 200,229
Other creditors 33,478 37,813
Accrued expenses 598,374 242,350
2,882,892 3,606,129

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

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

11. LEASING AGREEMENTS
The minimum payments falling due on operating leases is as follows:


Agreements expiring: 31.12.24 31.12.23
£ £
within one year 90,000 90,192
between one and five years 10,774 3.113
In more than five years - -

12. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax
Accelerated capital allowances 19,029 40,767

Deferred
tax
£   
Balance at 1 January 2024 40,767
Credit to Income Statement during year (21,738 )
Balance at 31 December 2024 19,029

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
20 Ordinary a 10p 2 2

14. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2024 3,240,977 1 3,240,978
Profit for the year 724,296 724,296
Dividends (680,342 ) (680,342 )
At 31 December 2024 3,284,931 1 3,284,932

15. ULTIMATE PARENT COMPANY

Tuscor Lloyds Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The registered office of Tuscor Lloyds Holdings Limited is 16 Blackmore road, Trafford Park, Stretford, Greater Manchester. M32 0QY.

16. RELATED PARTY DISCLOSURES

Tuscor Lloyds (UK) Limited (Registered number: 02916888)

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

16. RELATED PARTY DISCLOSURES - continued

Entities over which the entity has control, joint control or significant influence
31.12.24 31.12.23
£    £   
Sales 114,146 219,342
Purchases 664,106 520,362
Amount due from related parties 21,417 83,536