Caseware UK (AP4) 2024.0.164 2024.0.164 2025-02-282025-02-28falsetrue8tool and equipment sales2024-03-01false9trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08885829 2024-03-01 2025-02-28 08885829 2023-03-01 2024-02-29 08885829 2025-02-28 08885829 2024-02-29 08885829 c:Director1 2024-03-01 2025-02-28 08885829 c:Director2 2024-03-01 2025-02-28 08885829 c:Director3 2024-03-01 2025-02-28 08885829 d:PlantMachinery 2024-03-01 2025-02-28 08885829 d:PlantMachinery 2025-02-28 08885829 d:PlantMachinery 2024-02-29 08885829 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 08885829 d:MotorVehicles 2024-03-01 2025-02-28 08885829 d:MotorVehicles 2025-02-28 08885829 d:MotorVehicles 2024-02-29 08885829 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 08885829 d:OfficeEquipment 2024-03-01 2025-02-28 08885829 d:OfficeEquipment 2025-02-28 08885829 d:OfficeEquipment 2024-02-29 08885829 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 08885829 d:ComputerEquipment 2024-03-01 2025-02-28 08885829 d:ComputerEquipment 2025-02-28 08885829 d:ComputerEquipment 2024-02-29 08885829 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 08885829 d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 08885829 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-02-28 08885829 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 08885829 d:CurrentFinancialInstruments 2025-02-28 08885829 d:CurrentFinancialInstruments 2024-02-29 08885829 d:Non-currentFinancialInstruments 2025-02-28 08885829 d:Non-currentFinancialInstruments 2024-02-29 08885829 d:CurrentFinancialInstruments d:WithinOneYear 2025-02-28 08885829 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08885829 d:Non-currentFinancialInstruments d:AfterOneYear 2025-02-28 08885829 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 08885829 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-02-28 08885829 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 08885829 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-02-28 08885829 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 08885829 d:ShareCapital 2025-02-28 08885829 d:ShareCapital 2024-02-29 08885829 d:RetainedEarningsAccumulatedLosses 2025-02-28 08885829 d:RetainedEarningsAccumulatedLosses 2024-02-29 08885829 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2025-02-28 08885829 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-02-29 08885829 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2025-02-28 08885829 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2024-02-29 08885829 d:AcceleratedTaxDepreciationDeferredTax 2025-02-28 08885829 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 08885829 d:TaxLossesCarry-forwardsDeferredTax 2025-02-28 08885829 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 08885829 c:FRS102 2024-03-01 2025-02-28 08885829 c:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 08885829 c:FullAccounts 2024-03-01 2025-02-28 08885829 c:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 08885829 d:HirePurchaseContracts d:WithinOneYear 2025-02-28 08885829 d:HirePurchaseContracts d:WithinOneYear 2024-02-29 08885829 d:HirePurchaseContracts d:BetweenOneFiveYears 2025-02-28 08885829 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-02-29 08885829 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-03-01 2025-02-28 08885829 e:PoundSterling 2024-03-01 2025-02-28 iso4217:GBP xbrli:pure

Registered number:  08885829














TRADE GEAR LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


 
TRADE GEAR LIMITED
REGISTERED NUMBER: 08885829

BALANCE SHEET
AS AT 28 FEBRUARY 2025

28 February
29 February
2025
2024
Note
£
£

Fixed assets
  

Intangible assets
  
37,911
55,820

Tangible assets
 5 
53,596
154,459

  
91,507
210,279

Current assets
  

Debtors: amounts falling due within one year
 6 
387,295
216,855

Cash at bank and in hand
 7 
226,697
367,047

  
613,992
583,902

Creditors: amounts falling due within one year
 8 
(642,675)
(679,328)

Net current liabilities
  
 
 
(28,683)
 
 
(95,426)

Total assets less current liabilities
  
62,824
114,853

Creditors: amounts falling due after more than one year
  
(15,151)
(99,375)

Provisions for liabilities
  

Deferred tax
  
(13,382)
(10,974)

  
 
 
(13,382)
 
 
(10,974)

Net assets
  
34,291
4,504


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
33,291
3,504

  
34,291
4,504


Page 1

 
TRADE GEAR LIMITED
REGISTERED NUMBER: 08885829
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J J Hughes
................................................
G J Lenham
Director
Director



................................................
M A Vaughan
Director





Date: 28 August 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1.


General information

The Company is a private company limited by shares, which is incorporated under the Companies
Act 2006 and registered in England and Wales (no. 08885829). The address of the registered office
is The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.
These financial statements present information about the Company as an individual undertaking.
The principal activity is that of tool and equipment sales.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Finance costs

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

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

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

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

Page 4

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

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

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

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

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


 
2.9

Intangible assets

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

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

 
2.10

Tangible fixed assets

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

Page 5

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
15%
reducing balance
Office equipment
-
25%
straight line
Computer equipment
-
15%
reducing balance

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

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

 
2.11

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.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

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

 
2.14

Provisions for liabilities

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

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 6

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2024 - 8).

Page 7

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

4.


Intangible assets






Develop-ment expenditure

£



Cost


At 1 March 2024
95,411



At 28 February 2025

95,411



Amortisation


At 1 March 2024
39,591


Charge for the year on owned assets
17,909



At 28 February 2025

57,500



Net book value



At 28 February 2025
37,911



At 29 February 2024
55,820



Page 8

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

5.


Tangible fixed assets







Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 March 2024
15,520
120,120
10,869
68,564
215,073


Additions
-
-
483
5,228
5,711


Disposals
-
(120,120)
-
-
(120,120)



At 28 February 2025

15,520
-
11,352
73,792
100,664



Depreciation


At 1 March 2024
2,493
24,400
7,883
25,838
60,614


Charge for the year on owned assets
1,954
-
1,707
7,193
10,854


Disposals
-
(24,400)
-
-
(24,400)



At 28 February 2025

4,447
-
9,590
33,031
47,068



Net book value



At 28 February 2025
11,073
-
1,762
40,761
53,596



At 29 February 2024
13,027
95,720
2,986
42,726
154,459

Page 9

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

6.


Debtors

28 February
29 February
2025
2024
£
£


Trade debtors
65,627
10,106

Amounts owed by group undertakings
318,509
-

Other debtors
-
198,244

Prepayments and accrued income
3,159
8,505

387,295
216,855



7.


Cash and cash equivalents

28 February
29 February
2025
2024
£
£

Cash at bank and in hand
226,697
367,047

226,697
367,047



8.


Creditors: Amounts falling due within one year

28 February
29 February
2025
2024
£
£

Bank loans
9,091
9,091

Trade creditors
486,847
361,753

Corporation tax
73,337
97,204

Other taxation and social security
38,043
31,769

Obligations under finance lease and hire purchase contracts
-
8,038

Other creditors
18,932
49,368

Accruals and deferred income
16,425
122,105

642,675
679,328


Page 10

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

9.


Creditors: Amounts falling due after more than one year

28 February
29 February
2025
2024
£
£

Bank loans
15,151
25,001

Net obligations under finance leases and hire purchase contracts
-
74,374

15,151
99,375



10.


Loans


Analysis of the maturity of loans is given below:


28 February
29 February
2025
2024
£
£

Amounts falling due within one year

Bank loans
9,091
9,091

Amounts falling due 1-2 years

Bank loans
9,091
9,091

Amounts falling due 2-5 years

Bank loans
6,060
15,909


24,242
34,091



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

28 February
29 February
2025
2024
£
£


Within one year
-
8,038

Between 1-5 years
-
74,374

-
82,412

Page 11

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

12.


Financial instruments

28 February
29 February
2025
2024
£
£

Financial assets


Financial assets measured at fair value through profit or loss
226,697
367,047

Financial assets measured at amortised cost
384,136
208,350

610,833
575,397


Financial liabilities


Financial liabilities measured at amortised cost
546,446
649,729


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


Financial assets measured at amortised cost comprise of other debtors.


Financial liabilities measured at amortised cost comprise of other creditors and accruals.


13.


Deferred taxation






2025


£






At beginning of year
(10,974)


Charged to profit or loss
(2,408)



At end of year
(13,382)

The provision for deferred taxation is made up as follows:

28 February
29 February
2025
2024
£
£


Fixed asset timing differences
(13,436)
(11,037)

Short term timing differences
54
63

(13,382)
(10,974)

Page 12

 
TRADE GEAR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £2,964 (2024 - £3,132).
The amount payable into the scheme at the balance sheet date was £640 (2024 - £583) and is included
in other creditors.


15.


Related party transactions

Included in other debtors and other creditors are the following amounts due to / (from) the company at the balance sheet date:


28 February
29 February
2025
2024
£
£

Oxford Vaughan Limited
-
198,244
National Tool Hire Limited
(18,292)
(14,578)
Easiweb Limited
-
(34,047)
Trade Gear Group Ltd
318,509
-

Oxford Vaughan Limited, National Tool Hire Limited and Easiweb Limited are connected companies.
Trade Gear Group Ltd is the parent company.
The loans are repayable on demand and no interest has been charged.


16.


Controlling party

The company is under the control of the directors.

Page 13