Company registration number 02845655 (England and Wales)
ARCTIC TRADERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
ARCTIC TRADERS LIMITED
COMPANY INFORMATION
Director
S L Gray
Company number
02845655
Registered office
The Old Grange
Warren Estate
Lordship Road, Writtle
Chelmsford
Essex
United Kingdom
CM1 3WT
Accountants
Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT
ARCTIC TRADERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ARCTIC TRADERS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
123,649
222,369
Investments
5
744,500
785,075
868,149
1,007,444
Current assets
Stocks
2,029,038
2,105,109
Debtors
6
1,401,667
1,813,359
Cash at bank and in hand
22,512
106,265
3,453,217
4,024,733
Creditors: amounts falling due within one year
7
(3,318,441)
(3,984,122)
Net current assets
134,776
40,611
Total assets less current liabilities
1,002,925
1,048,055
Creditors: amounts falling due after more than one year
8
(530,707)
(610,376)
Provisions for liabilities
(14,869)
-
0
Net assets
457,349
437,679
Capital and reserves
Called up share capital
151,000
151,000
Other reserves
75,000
75,000
Profit and loss reserves
231,349
211,679
Total equity
457,349
437,679

The notes on pages 3 to 8 form part of these financial statements.

ARCTIC TRADERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 2 September 2025
S L Gray
Director
Company registration number 02845655 (England and Wales)
ARCTIC TRADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Arctic Traders Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Grange, Warren Estate, Lordship Road, Writtle, Chelmsford, Essex, United Kingdom, CM1 3WT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
2% on cost
Plant and machinery
33% on cost and 15% on cost
Office equipment
15% on reducing balance
Motor vehicles
15% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in profit or loss.

ARCTIC TRADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ARCTIC TRADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.10

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet an d depreciated over their estimated useful lives.

Interest is charged to the profit and loss account on a straight line basis over the term of the contract. The capita l element of the future payments is treated as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ARCTIC TRADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
5
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
120,000
186,980
306,980
Additions
-
0
83,749
83,749
Disposals
(120,000)
(82,947)
(202,947)
At 31 March 2025
-
0
187,782
187,782
Depreciation and impairment
At 1 April 2024
26,400
58,211
84,611
Depreciation charged in the year
1,000
14,217
15,217
Eliminated in respect of disposals
(27,400)
(8,295)
(35,695)
At 31 March 2025
-
0
64,133
64,133
Carrying amount
At 31 March 2025
Owned assets
-
15,748
15,748
Hire purchase assets
-
107,901
107,901
At 31 March 2025
-
0
123,649
123,649
At 31 March 2024
Owned assets
93,600
10,751
104,351
Hire purchase assets
-
118,018
118,018
At 31 March 2024
93,600
128,769
222,369
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
75,100
75,100
Loans to group undertakings and participating interests
669,400
709,975
744,500
785,075
ARCTIC TRADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Fixed asset investments
(Continued)
- 7 -
Fixed asset investments revalued

Fair value of shares in group undertakings is £75,100. This differs to historic cost of £100 due to the following revaluations; 2015 - £30,000, 2017 - £25,000, 2018 - £20,000.

Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Total
£
£
£
Cost or valuation
At 1 April 2024
75,100
709,975
785,075
Loan during the year
-
(40,575)
(40,575)
At 31 March 2025
75,100
669,400
744,500
Carrying amount
At 31 March 2025
75,100
669,400
744,500
At 31 March 2024
75,100
709,975
785,075
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
828,320
1,220,867
Other debtors
573,347
592,492
1,401,667
1,813,359
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
26,438
Trade creditors
2,020,076
2,424,201
Taxation and social security
135,573
85,475
Other creditors
1,162,792
1,448,008
3,318,441
3,984,122
ARCTIC TRADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
187,999
Other creditors
530,707
422,377
530,707
610,376
Creditors which fall due after five years are payable as follows:
Payable by instalments
-
67,468
9
Secured debts
2025
2024
£
£
Bank loans
-
0
214,437
Hire purchase contracts
104,491
113,458
Trade finance
680,871
1,022,312
Other loans
410,353
458,580
1,195,715
1,808,787

The company's bank borrowings are secured by a property owned by its wholly owned subsidiary and a personal guarantee given by its director. The trade finance is secured against the company's trade debtors. Other loans are secured by either fixed and floating charge over the company assets or by way of a personal guarantee given by the director.

10
Operating lease commitments
As lessee

At the balance sheet date the company has financial commitments of £10,500 in relation to non cancellable lease agreement in respect of the company premises.

11
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
S L Gray - Loan
-
408,927
(25,000)
383,927
408,927
(25,000)
383,927
12
Controlling party

The controlling party is the Director, S L Gray.

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