|
Registered number:
CONSOLIDATED
FOR THE YEAR ENDED 30 NOVEMBER 2024
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
INFORMATION
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
CONTENTS
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
The members present their annual report together with the audited financial statements of Trad Properties LLP (the "LLP and the Group") for the ended 30 November 2024.
Principal activities
The LLP and the Group have various principal activities including property investment, engineering and construction; manufacturing of metal products; provision of modular accommodation and accommodation services to oil and gas; renewables and infrastructure sectors.
Designated Members
C H Smith, J Walker and The Trustees of the TRAD Scaffolding Co (H F Smith) FURBS were designated members of the LLP and the Group throughout the period.
Members' capital and interests
Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.
Details of changes in members' capital in the ended 30 November 2024 are set out in the financial statements.
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.
Disclosure of information to auditors
Each of the persons who are members at the time when this Members' report is approved has confirmed that:
∙so far as that member is aware, there is no relevant audit information of which the Group's auditors are unaware, and
∙that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the Group's auditors are aware of that information.
This report was approved by the members on 29 August 2025 and signed on their behalf by:
Page 1
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
MEMBERS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2024
The members are responsible for preparing the annual report and theconsolidated financial statements in accordance with applicable law and regulations.
Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law, as applied to LLPs, the members 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 LLP and the Group and of the profit or loss of the Group for that period.
In preparing these financial statements, the members are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and the Group and to enable them to ensure that the financial statements comply with the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
GROUP STREAMLINED ENERGY AND CARBON REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
Texo as a company recognizes the risks posed by climate change to business practices – in addition to our commitment to protecting the environment, we are acting to protect our business. Climate change can impact us because increasing heat and drought stress could lead to resource scarcity, which would increase our material costs significantly (PwC, 2024). However, it also provides us with the opportunity to optimize our operations for energy and resource efficiencies and explore new opportunities in a market that turns greener. Because of this we are committed to reaching Net Zero by 2040. This annual report will present the companies reporting structure, our greenhouse gas (GHG) emissions of 2024, which actions we took in 2024 to reduce our environmental impacts, and which actions we will take in 2025 to further decrease our emission intensity across the organisation. Our goal is to continuously reduce emissions by 5% in comparison to the baseline emissions until reaching net zero in 2045.
In 2024, the total energy consumption and greenhouse gas emissions for our Group UK operations was as follows: Energy consumption • Electricity Consumption: 633,650.70 kWh • Gas Consumption: 75,418.803 kWh These figures represent the total metered usage across all UK sites and facilities under our operational control. The sourcing of the data is provided in the Methodologies section of this report. Greenhouse gas emmissions In 2024, the total greenhouse gas emissions from our UK operations at a Group level amounted to 1,024.14 tonnes of carbon dioxide equivalent (tCO2e). This includes: Scope 1 (Direct Emissions): • Fuel combustion for heating from natural gas: 13.76 tCO2e • Fuel use in company-owned vehicles: 186.50 tCO2e • Fuel use for forklifts and stationary combustion: 687.29 tCO2e • Combustion of welding gases: 5.36 tCO2e Scope 2 (Indirect Emissions from Purchased Energy): • Purchased electricity: 131.20 tCO2e These figures reflect emissions from all sources under our operational control and are based on actual consumption data. A comparison to the baseline of 2023 can be seen below. A detailed explanation of the calculation methodology, including emissions factors and data sources, is provided in the Methodologies section of this report
Page 3
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
GROUP STREAMLINED ENERGY AND CARBON REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Methodologies
Texo has defined its carbon footprint using both organisational and operational boundaries:
• Organisational Boundary: Texo applies the operational control approach, including all divisions and selected subgroups (Texo Recruitment, Texo Technologies, and Airport Capacity Solutions) in its net zero plan. • Operational Boundary: Emissions sources are classified according to the Greenhouse Gas Protocol. All Scope 1 and Scope 2 emissions are included. Scope 3 emissions are incorporated where reliable data is available, but not included in this focused report. Emission data was collected and collated in the following ways: Company Fleet Emissions from the company fleet were derived by collating fuel purchases in 2024. Information was taken from invoices from UK Fuels Limited, which are stored on SAGE 200. Information about invoice number, vehicle registration, product type (Diesel, Premium Diesel, Unleaded, Super Unleaded), volume and net costs were assembled and volumes of different product types per month were calculated. Finally, emissions were calculated by product type using the UK Government GHG Conversion Factors for Company Reporting of 2024 and total emissions were summarized. The collated data for company vehicles can be found in the Q Drive in the
Page 4
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
GROUP STREAMLINED ENERGY AND CARBON REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Environmental Management folder.
Stationary Combustion and Forklifts Emissions from stationary combustion and forklifts were assembled by collating fuel and welding gas purchases in 2024. The information was taken from invoices from TPS Weldtech and Oilfast, which are stored on SAGE 200. Information about supplier, delivery location, delivery date, product type (Diesel), volume and unit price were gathered, and total volume of product was calculated. Lastly, emissions were calculated using the UK Government GHG Conversion Factors for Company Reporting of 2024. The collated data for stationary combustion and forklifts can be found in the Q Drive in the Environmental Management folder. Gas (Welding and Heating) Emissions from gas heating and gas use for welding were measured by collating information from invoices from Air Products for welding gases and from invoices from British Gas, BULB by Octopus Energy and OVO Energy for gas heating. All invoices are stored on SAGE 200. Information about supplier, delivery location, invoice number, delivery date, product type, volume, quantity and unit price were collected for welding gases, and invoice number, time periods and invoiced gas in kWh were collected for heating gas. Finally, volumes and kWh were summarised, and emissions were calculated using the UK Government GHG Conversion Factors for Company Reporting of 2024. The collated data of gas consumption for welding and heating can be found in the Q Drive in the Environmental Management folder. Electricity Emissions from electricity were compiled by collating information from invoices from British Gas, Bulb by Octopus Energy, OVO Energy, Kirkwood Commercial Park Limited, Port of Blyth and Forth Ports (Port of Dundee). All invoices are stored on SAGE 200. Information about supplier, invoice number, time period, invoiced kWh and energy mix was gathered and total annual kilowatt hour usage per site was calculated. Finally, total electricity consumption was summarised, and emissions were calculated using the UK Government GHG Conversion Factors for Company Reporting of 2024. The collated data of electricity consumption can be found in the Q Drive in the Environmental Management folder. Emissions Intensity Ratio (Man-Hours) To contextualise our total emissions, we have calculated an intensity ratio that expresses greenhouse gas emissions in relation to company activity. For 2024, the emissions intensity was: 1.57 tonnes CO2e per 1,000 manhours This ratio provides a useful benchmark for tracking performance over time and assessing the effectiveness of our energy efficiency and carbon reduction initiatives. This marks an increase of 1.04 tonnes CO2e per 1,000 manhours in comparison to 2023. The main reason for this is the increase of emissions in Scope 1 through an increase in fuel use for forklifts and stationary combustion by 50.8%. A detailed explanation of the methodology used to calculate this ratio is provided in the Methodology section of this report. Emissions intensity for 2023 and 2024 was calculated using total man-hours worked across all UK operations. This approach provides a meaningful measure of carbon efficiency relative to workforce activity. Data on man-hours was collected from internal HR and timesheet systems, including SAGE Payroll and covers all employees and contractors under operational control. The dataset includes: • Employee and contractor hours logged per site • Time periods covered • Total aggregated man-hours for the reporting year Total Scope 1 and Scope 2 emissions were calculated using the UK Government GHG Conversion Factors for Company Reporting (2024), based on verified energy consumption data. The emissions intensity ratio was then calculated as: Tonnes of CO2e per 1,000 man-hours worked = (Total CO2e emissions ÷ Total man-hours) × 1,000
Page 5
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
GROUP STREAMLINED ENERGY AND CARBON REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
This ratio enables year-on-year performance tracking and supports internal benchmarking across departments and sites. All supporting data and calculations are stored in the Environmental Management folder on the Q Drive. Energy efficiency actions In 2024, Texo successfully established its emissions baseline by analysing comprehensive data collated from the year 2023. This baseline now serves as the foundation for identifying key emission reduction targets and tracking progress over time. A leadership team has been formed to oversee carbon reduction objectives and to guide the implementation of initiatives aimed at mitigating emissions. These efforts are informed by detailed reports and recommendations provided by the Environmental and Sustainability Coordinator. Additionally, Texo has actively engaged its staff in sustainability topics through a series of Lunch & Learn training sessions, embedding environmental awareness into the company culture. In 2025, Texo is building on these achievements by finalising the Carbon Emissions Reports for 2023 and 2024 and publishing them internally. A list of planned emission reduction actions through to 2030 is being developed and will be published as our 5-year plan for decarbonisation. Operational improvements include the installation of infrared heating at the Dundee site, the launch of a company-wide Switch Off Campaign and Policy, fitting tap aerators to all bathroom sinks, and implementing telematics across the company fleet to monitor driver behaviour. These initiatives reflect Texo’s continued commitment to reducing emissions and embedding sustainability into its operations.
This Streamlined Energy and Carbon Reporting report was approved by the members on 29 August 2025 and signed on their behalf by:
Page 6
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRAD PROPERTIES LLP
We have audited the financial statements of Trad Properties LLP (the 'parent LLP') and its subsidiaries (the 'Group') for the year ended 30 November 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the LLP Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the LLP Statement of Changes in Equity and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
In auditing the financial statements, we have concluded that the members' 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 or the parent LLP'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 members with respect to going concern are described in the relevant sections of this report.
Page 7
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRAD PROPERTIES LLP (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The members are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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.
Page 8
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRAD PROPERTIES LLP (CONTINUED)
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 an Auditors' report 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that: • had a direct effect on the determination of material amounts and disclosures in the financial statements. These include but are not limited to the Companies Act 2006, GDPR, employment and Health & Safety legislation and tax legislation, and • do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These include operational and employment laws and regulations including health and safety regulations, environmental regulations and GDPR. We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making enquiries with management and those responsible for legal and compliance frameworks. We corroborated our enquiries through review of correspondence with regulatory bodies and gaining an understanding of the entity level controls of the company in respect of these areas and the controls in place to reduce opportunity for fraudulent transactions. We have considered the control systems in place to prevent fraud from non-compliance with laws and regulations which are applicable to the company. We discussed among the audit engagement team including relevant internal tax specialists, regarding the opportunities and incentives, including management override of controls, that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. We also communicated the applicable laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The risk of management override of controls is the area where the financial statements were most susceptible to material misstatement due to fraud. In addition, the key principal risks related to the existence of inappropriate journal entries to impact the profit for the year and management bias in accounting estimates. Procedures performed to address these were as follows: • Walkthrough testing was carried out to identify and assess the design effectiveness of controls, management have in place to prevent and detect fraud, including known of suspected instances or non- compliance with laws and regulations and fraud, • Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process,
Page 9
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TRAD PROPERTIES LLP (CONTINUED)
• Using analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud,
• Assessing the appropriateness of accounting estimates and challenging any significant assumptions or judgements made by management, • Incorporating testing of manual journal entries that were posted throughout the year. In particular, we focused on material journal entries. These were scrutinised for evidence of unusual entries, • Selecting specific revenue transactions based on risk criteria and obtaining supporting documentation including sales invoice to ensure revenue was appropriately recorded, • Reviewing specific cost of sale transactions based on risk criteria and reviewing invoice documentation to ensure the expense was appropriately recorded, • Evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditors' report.
This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied by Part 12 of The Limited Liability Partnerships (Accounts and Audit) (Applications of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Old Station Road
Essex
IG10 4PL
Page 10
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2024
Page 11
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
REGISTERED NUMBER: OC371038
CONSOLIDATED BALANCE SHEET
AS AT 30 NOVEMBER 2024
Page 12
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
REGISTERED NUMBER: OC371038
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024
The financial statements were approved and authorised for issue by the members and were signed on their behalf on
The notes on pages 21 to 47 form part of these financial statements.
Page 13
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
REGISTERED NUMBER: OC371038
LLP BALANCE SHEET
AS AT 30 NOVEMBER 2024
Page 14
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
REGISTERED NUMBER: OC371038
LLP BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024
The financial statements were approved and authorised for issue by the members and were signed on their behalf on
The notes on pages 21 to 47 form part of these financial statements.
Page 15
|
|
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023
Page 17
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
15.Tangible fixed assets (continued)
Page 37
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Page 38
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
The 2024 valuations were made by directors, on an open market value for existing use basis.
Page 39
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Page 40
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
The liabilities under obligations under finance lease and hire purchase contracts are secured against the assets for which they were used to purchase.
Page 41
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
The liabilities under obligations under finance lease and hire purchase contracts are secured against the assets for which they were used to purchase.
Page 42
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Page 43
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Page 44
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Page 45
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
A prior year adjustment has been recorded to write off a debtor balance within Texo Group which should have been incorporated into the prior year. This has decreased debtors and profit by £720,510.
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 £413,786 (2023: £284,344). Contributions totaling £105,301 (2023: £62,790) were payable to the fund at the balance sheet date and are included in creditors.
Page 46
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRAD PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
The controlling party of Trad Properties LLP is the Trustees of the Trad Scaffolding Co. Limited (H F Smith) FURBS, and H F Smith is the controlling trustee.
Page 47
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||