IRIS Accounts Production v25.2.0.378 01338493 Board of Directors Board of Directors 31.12.24 1.1.24 31.12.24 31.12.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. In 2024 the company continued to focus on its principal activity of selling power and hand tools, and associated accessories. 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REGISTERED NUMBER: 01338493

| TREND TOOL TECHNOLOGY LTD |

| GROUP STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Consolidated Statement of Comprehensive Income | 11 |

Consolidated Balance Sheet | 12 |

Company Balance Sheet | 14 |

Consolidated Statement of Changes in Equity | 16 |

Company Statement of Changes in Equity | 17 |

Consolidated Cash Flow Statement | 18 |

Notes to the Consolidated Cash Flow Statement | 19 |

Notes to the Consolidated Financial Statements | 21 |

TREND TOOL TECHNOLOGY LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | S J Phillips

| N McMillan

| C R Lamb

| A Roberts

| C J Carter

| T M Simons

| SECRETARY: | C R Lamb

| REGISTERED OFFICE: | Unit 6, Odhams Trading Estate

| St Albans Road

| Watford

| Hertfordshire

| WD24 7TR

| REGISTERED NUMBER: | 01338493

| AUDITORS: | Duncan & Toplis Audit Limited, Statutory Auditor

| 3rd Floor

| Marlborough House

| 298 Regents Park Road

| Finchley

| London

| N3 2SZ

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

Principle activity

In 2024 the company continued to focus on its principal activity of selling power and hand tools, and associated accessories. It has also continued to develop and strengthen its partnerships with its network of stockists throughout the UK, Europe & USA.

REVIEW OF BUSINESS

Sales have decreased to £30,738,502 (2024) from £33,468,176 (2023), nevertheless

Pre-tax profit of £1,200,139 (2024) has increased from the previous year of £1,146,538 (2023).

During 2024 our primary strategic plan was to stabilise sales and increase profits in the UK business. In Q1'24 we identified significantly weaker market demand in the UK construction industry than anticipated and so focussed efforts in cost reduction strategies to counteract the effects to our profitability and furthered our principal strategy to move the business away from low margin product categories and concentrate on our core competencies. This resulted in another significant increase of our GP%, despite sales decline versus 2023. 2024 demand declined in two forms, firstly customers reduced stockholding to conserve cash and secondly customer insolvencies were at an industry all-time high.

Looking ahead, we anticipate activity in the UK construction sector to remain subdued so the directors are confident that the performance of the company will remain steady in 2025.

Financial key performance indicators

The company's financial performance is assessed primarily by Turnover, Gross Profit, GP as % Turnover, EBITDA and EBITDA % of Turnover for the financial year:

| Turnover |  | Gross Profit |  | Gross Profit % |  | EBITDA |  | EBITDA % |

2024 |  | £30,738,502 |  | £13,436,011 |  | 43.7% |  | £2,057,562 |  | 6.7% |

2023 |  | £33,468,176 |  | £13,417,857 |  | 40.1% |  | £2,019,970 |  | 6.0% |

2022 |  | £33,202,431 |  | £12,294,087 |  | 37.0% |  | £1,115,528 |  | 3.4% |

2021 |  | £35,548,890 |  | £13,178,598 |  | 37.1% |  | £1,850,881 |  | 5.2% |

2020 |  | £28,805,778 |  | £10,688,630 |  | 37.1% |  | £1,168,875 |  | 4.1% |

2019 |  | £22,419,763 |  | £8,658,156 |  | 38.6% |  | £658,933 |  | 2.9% |

CAGR% |  | +7% |  | +9% |  |  | +25% |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

PRINCIPAL RISKS AND UNCERTAINTIES

The key business risk and uncertainty relates to any potential downturn in the UK economy and in particular the construction and home improvement markets.

ON BEHALF OF THE BOARD:

C R Lamb - Director

7 July 2025

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

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

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £240,400.

DIRECTORS

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

S J Phillips

N McMillan

C R Lamb

A Roberts

C J Carter

T M Simons

Other changes in directors holding office are as follows:

M P Tideswell - resigned 20 December 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Duncan & Toplis Audit Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C R Lamb - Director

7 July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TREND TOOL TECHNOLOGY LTD

Opinion

We have audited the financial statements of Trend Tool Technology LTD (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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.

Conclusions 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 group's and the parent 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TREND TOOL TECHNOLOGY LTD

Other information

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TREND TOOL TECHNOLOGY LTD

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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TREND TOOL TECHNOLOGY LTD

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:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements.

- Enquiring of management concerning actual and potential litigation and claims.

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of

material misstatement due to fraud.

- Reading minutes of meetings of those charged with governance.

- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the

audit.

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.

Whilst this is the case, our audit approach adopts a risk based approach which ensures that appropriate attention is devoted to the areas assessed as key audit risks. We performed a combination of procedures including analytical review, detailed substantive verification of transactions and balances as well as detailed test of controls, where appropriate.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

TREND TOOL TECHNOLOGY LTD

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.

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.

Hassan Behcet (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

7 July 2025

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 30,738,502 |  | 33,468,176 |  |

Cost of sales | 17,302,491 |  | 20,050,321 |  |

GROSS PROFIT | 13,436,011 |  | 13,417,855 |  |

Distribution costs | 1,665,523 |  | 1,835,832 |  |

Administrative expenses | 10,073,924 |  | 9,952,360 |  |

|  |  | 11,739,447 |  |  |  |  | 11,788,192 |  |

OPERATING PROFIT | 6 | 1,696,564 |  | 1,629,663 |  |

Interest receivable and similar income | 1,096 |  | 496 |  |

1,697,660 |  | 1,630,159 |  |

Interest payable and similar expenses | 8 | 497,521 |  | 483,621 |  |

PROFIT BEFORE TAXATION | 1,200,139 |  | 1,146,538 |  |

Tax on profit | 9 | 314,278 |  | 263,917 |  |

PROFIT FOR THE FINANCIAL YEAR | 885,861 |  | 882,621 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 885,861 |  | 882,621 |  |

Profit attributable to:

Owners of the parent | 885,861 |  | 882,621 |  |

Total comprehensive income attributable to:

Owners of the parent | 885,861 |  | 882,621 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

CONSOLIDATED BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 13 | 57,455 |  | 21,615 |  |

Tangible assets | 14 | 579,108 |  | 767,907 |  |

Investments | 15 | - |  | - |  |

636,563 |  | 789,522 |  |

CURRENT ASSETS

Stocks | 16 | 12,032,068 |  | 11,238,868 |  |

Debtors | 17 | 8,587,147 |  | 7,935,769 |  |

Cash at bank | 70,400 |  | 102,322 |  |

20,689,615 |  | 19,276,959 |  |

CREDITORS

Amounts falling due within one year | 18 | 12,935,706 |  | 12,302,396 |  |

NET CURRENT ASSETS | 7,753,909 |  | 6,974,563 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,390,472 |  | 7,764,085 |  |

CREDITORS

Amounts falling due after more than one year | 19 | (386,331 | ) | (380,113 | ) |

PROVISIONS FOR LIABILITIES | 23 | (99,950 | ) | (125,242 | ) |

NET ASSETS | 7,904,191 |  | 7,258,730 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

CONSOLIDATED BALANCE SHEET - continued

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 24 | 8,000 |  | 8,000 |  |

Retained earnings | 25 | 7,896,191 |  | 7,250,730 |  |

SHAREHOLDERS' FUNDS | 7,904,191 |  | 7,258,730 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2025 and were signed on its behalf by:

C R Lamb - Director

A Roberts - Director

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

COMPANY BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 13 | 57,455 |  | 21,615 |  |

Tangible assets | 14 | 579,108 |  | 767,907 |  |

Investments | 15 | 2,793 |  | 2,793 |  |

639,356 |  | 792,315 |  |

CURRENT ASSETS

Stocks | 16 | 12,032,068 |  | 11,238,868 |  |

Debtors | 17 | 8,587,147 |  | 7,935,769 |  |

Cash at bank | 70,400 |  | 102,322 |  |

20,689,615 |  | 19,276,959 |  |

CREDITORS

Amounts falling due within one year | 18 | 13,486,251 |  | 12,775,366 |  |

NET CURRENT ASSETS | 7,203,364 |  | 6,501,593 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,842,720 |  | 7,293,908 |  |

CREDITORS

Amounts falling due after more than one year | 19 | (386,331 | ) | (380,113 | ) |

PROVISIONS FOR LIABILITIES | 23 | (99,950 | ) | (125,242 | ) |

NET ASSETS | 7,356,439 |  | 6,788,553 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

COMPANY BALANCE SHEET - continued

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 24 | 8,000 |  | 8,000 |  |

Retained earnings | 25 | 7,348,439 |  | 6,780,553 |  |

SHAREHOLDERS' FUNDS | 7,356,439 |  | 6,788,553 |  |

Company's profit for the financial year | 808,286 |  | 740,999 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2025 and were signed on its behalf by:

C R Lamb - Director

A Roberts - Director

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2023 | 8,000 |  | 6,598,829 |  | 6,606,829 |  |

Changes in equity

Dividends | - |  | (230,720 | ) | (230,720 | ) |

Total comprehensive income | - |  | 882,621 |  | 882,621 |  |

Balance at 31 December 2023 | 8,000 |  | 7,250,730 |  | 7,258,730 |  |

Changes in equity

Dividends | - |  | (240,400 | ) | (240,400 | ) |

Total comprehensive income | - |  | 885,861 |  | 885,861 |  |

Balance at 31 December 2024 | 8,000 |  | 7,896,191 |  | 7,904,191 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2023 | 8,000 |  | 6,270,274 |  | 6,278,274 |  |

Changes in equity

Dividends | - |  | (230,720 | ) | (230,720 | ) |

Total comprehensive income | - |  | 740,999 |  | 740,999 |  |

Balance at 31 December 2023 | 8,000 |  | 6,780,553 |  | 6,788,553 |  |

Changes in equity

Dividends | - |  | (240,400 | ) | (240,400 | ) |

Total comprehensive income | - |  | 808,286 |  | 808,286 |  |

Balance at 31 December 2024 | 8,000 |  | 7,348,439 |  | 7,356,439 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (854,039 | ) | 2,731,824 |  |

Interest paid | (571,185 | ) | (394,415 | ) |

Interest element of hire purchase payments paid | (1,960 | ) | (1,459 | ) |

Tax paid | (506,771 | ) | (62,898 | ) |

Net cash from operating activities | (1,933,955 | ) | 2,273,052 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (45,057 | ) | (6,224 | ) |

Purchase of tangible fixed assets | (164,863 | ) | (118,595 | ) |

Sale of tangible fixed assets | 5,380 |  | 62,658 |  |

Interest received | 1,096 |  | 496 |  |

Net cash from investing activities | (203,444 | ) | (61,665 | ) |

Cash flows from financing activities

Amount introduced by directors | 979,340 |  | 625,763 |  |

Amount withdrawn by directors | (932,223 | ) | (1,428,497 | ) |

Hire purchase capital repayments in year | (16,170 | ) | (14,229 | ) |

Net cash from financing activities | 30,947 |  | (816,963 | ) |

(Decrease)/increase in cash and cash equivalents | (2,106,452 | ) | 1,394,424 |  |

Cash and cash equivalents at beginning of year | 2 | (4,812,136 | ) | (6,206,560 | ) |

Cash and cash equivalents at end of year | 2 | (6,918,588 | ) | (4,812,136 | ) |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

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

| 2024 |  | 2023

£ | £ |

| Profit before taxation | 1,200,139 |  | 1,146,538 |  |

| Depreciation charges | 360,998 |  | 390,308 |  |

| Profit on disposal of fixed assets | (3,500 | ) | (62,658 | ) |

| Finance costs | 497,521 |  | 483,621 |  |

| Finance income | (1,096 | ) | (496 | ) |

2,054,062 |  | 1,957,313 |  |

| (Increase)/decrease in stocks | (793,200 | ) | 875,773 |  |

| Increase in trade and other debtors | (778,683 | ) | (693,188 | ) |

| (Decrease)/increase in trade and other creditors | (1,336,218 | ) | 591,926 |  |

| Cash generated from operations | (854,039 | ) | 2,731,824 |  |

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 | 70,400 |  | 102,322 |  |

| Bank overdrafts | (6,988,988 | ) | (4,914,458 | ) |

(6,918,588 | ) | (4,812,136 | ) |

| Year ended 31 December 2023

| 31.12.23 |  | 1.1.23

£ | £ |

| Cash and cash equivalents | 102,322 |  | 56,915 |  |

| Bank overdrafts | (4,914,458 | ) | (6,263,475 | ) |

(4,812,136 | ) | (6,206,560 | ) |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.1.24 | Cash flow | At 31.12.24

£ | £ | £ |

| Net cash |

| Cash at bank | 102,322 |  | (31,922 | ) | 70,400 |  |

| Bank overdrafts | (4,914,458 | ) | (2,074,530 | ) | (6,988,988 | ) |

(4,812,136 | ) | (2,106,452 | ) | (6,918,588 | ) |

| Debt

| Finance leases | (38,660 | ) | 16,170 |  | (22,490 | ) |

(38,660 | ) | 16,170 |  | (22,490 | ) |

| Total | (4,850,796 | ) | (2,090,282 | ) | (6,941,078 | ) |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Trend Tool Technology Ltd is a private company, limited by shares, domiciled in England and Wales, registration number 01338493.

| The presentation currency of the financial statement is the Pound Sterling (£).

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.

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Key source of estimation, uncertainty and judgement

| The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

| There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

| There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

| There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

| There is estimation uncertainty in calculating stock provisions. A review of stock is carried out at the year end. Whilst every attempt is made to ensure that the stock provision is as accurate as possible, there remains a risk that the provision does not match the level of stock which ultimately prove to be obsolete.

| There is estimation uncertainty in calculating the sales rebates payable accrual. Whilst every attempt is made to ensure that the accrual is as accurate as possible, there remains a risk that the accrual does not match the level of sales rebates that ultimately prove to be payable.

| There is estimation uncertainty in calculating the supplier rebates receivable provision. Whilst every attempt is made to ensure that the provision is as accurate as possible, there remains a risk that the accrual does not match the level of supplier rebates that ultimately prove to be receivable.

| There is estimation uncertainty in calculating amortisation. A full line by line review of intangible assets is carried out by management regularly. Whilst every attempt is made to ensure that the amortisation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

| Improvements to property | - | over the length of the lease

| Fixtures and fittings | - | 25% on cost

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 25% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

| Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

| Patents and licenses

| Expenditure on patents and licences are written off over their commercial life of five years.

| Investment in subsidiaries

| Investment in subsidiary undertakings are recognised at cost.

| Basis of consolidation

| The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by geographical market is given below:

| 2024 |  | 2023

£ | £ |

| United Kingdom | 25,952,725 |  | 28,790,374 |  |

| Europe | 2,355,872 |  | 2,447,261 |  |

| Rest of the world | 2,429,905 |  | 2,230,541 |  |

30,738,502 |  | 33,468,176 |  |

4. | EMPLOYEES AND DIRECTORS

| 2024 |  | 2023

£ | £ |

| Wages and salaries | 5,135,384 |  | 5,374,184 |  |

| Social security costs | 539,562 |  | 552,564 |  |

| Other pension costs | 395,170 |  | 371,763 |  |

6,070,116 |  | 6,298,511 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

4. | EMPLOYEES AND DIRECTORS - continued

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

| 2024 |  | 2023

| Management and office | 40 |  | 42 |  |

| Selling and distribution | 47 |  | 49 |  |

87 |  | 91 |  |

5. | DIRECTORS' EMOLUMENTS

| 2024 |  | 2023

£ | £ |

| Directors' remuneration | 1,606,869 |  | 1,645,178 |  |

| Directors' pension contributions to money purchase schemes | 86,474 |  | 72,967 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 6 |  | 6 |  |

| Information regarding the highest paid director is as follows:

| 2024 |  | 2023

£ | £ |

| Emoluments etc | 588,426 |  | 581,270 |  |

6. | OPERATING PROFIT

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

| 2024 |  | 2023

£ | £ |

| Hire of plant and machinery | 32,783 |  | 21,778 |  |

| Depreciation - owned assets | 327,954 |  | 369,242 |  |

| Depreciation - assets on hire purchase contracts | 23,828 |  | 15,355 |  |

| Profit on disposal of fixed assets | (3,500 | ) | (62,658 | ) |

| Patents and licences amortisation | 9,217 |  | 5,711 |  |

| Foreign currency exchange (gains)/losses | (22,266 | ) | 9,563 |  |

| Operating lease rentals - Land and buildings | 551,448 |  | 531,068 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

7. | AUDITORS' REMUNERATION

| Auditors remuneration for 2024 was £26,880 (2023: £28,439).

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

£ | £ |

| Bank interest | 419,937 |  | 394,415 |  |

| Other interest | 75,624 |  | 87,747 |  |

| Hire purchase | 1,960 |  | 1,459 |  |

497,521 |  | 483,621 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

9. | TAXATION

| Analysis of tax charge

| The tax charge on the profit on ordinary activities for the year was as follows:

|  | 2024 |  |  | 2023 |  |

| £ |  |  | £ |  |

| Current tax: |  |

| UK corporation tax |  | 312,933 |  |  | 269,098 |  |

| Adjustment in respect of prior years |  | - |  |  | - |  |

| USA corporation tax |  | 26,637 |  |  | 52,359 |  |

| Total current tax |  | 339,570 |  |  | 321,457 |  |

| Deferred tax |  | (25,292 | ) |  | (57,540 | ) |

| Tax on profit on ordinary activities |  | 314,278 |  |  | 263,917 |  |

| UK corporation tax has been charged at 25% (2023 - 25%). USA corporation tax has been |  | charged at 21% (2023 - 21%) |

| Factors affecting tax charge |  |

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. |  | The difference is explained below: |

|  | 2024 |  |  | 2023 |  |

| £ |  |  | £ |  |

| Profit on ordinary activities |  | 1,200,13 9 |  |  | 1,146,5 38 |  |

| Profit on ordinary activities multiplies by the standard rate of corporation tax |  |  |

| UK profit on ordinary activities £1,095,927 (2023 - £952,558) |  | 273,982 |  |  | 224,046 |  |

| USA profits on ordinary activities £104,212 (2023 - £193,980) |  | 26,637 |  |  | 52,359 |  |

| Effects of: |  |

| Expenses not deductible for tax purposes |  | 1,289 |  |  | 1,852 |  |

| Profit on disposal of assets |  | (875 | ) |  | (14,737 | ) |

| Depreciation in excess of capital allowances |  | 38,537 |  |  | 57,964 |  |

| Deferred tax |  | (25,292 | ) |  | (57,540 | ) |

| Timing differences |  | - |  |  | - |  |

| Adjustment in relation to prior years |  | - |  |  | - |  |

| Current tax charge |  | 314,278 |  |  | 263,917 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

10. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

| As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.

11. | DIVIDENDS

| An interim dividend of £30.05 per share was declared on 30 April 2024.

12. | PENSION COMMITMENTS

| The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in and independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £395,170 (2023: £371,763).

13. | INTANGIBLE FIXED ASSETS

| Group

| Patents

| and

| licences

£ |

| COST

| At 1 January 2024 | 139,700 |  |

| Additions | 45,057 |  |

| At 31 December 2024 | 184,757 |  |

| AMORTISATION

| At 1 January 2024 | 118,085 |  |

| Amortisation for year | 9,217 |  |

| At 31 December 2024 | 127,302 |  |

| NET BOOK VALUE

| At 31 December 2024 | 57,455 |  |

| At 31 December 2023 | 21,615 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

13. | INTANGIBLE FIXED ASSETS - continued

| Company

| Patents

| and

| licences

£ |

| COST

| At 1 January 2024 | 139,700 |  |

| Additions | 45,057 |  |

| At 31 December 2024 | 184,757 |  |

| AMORTISATION

| At 1 January 2024 | 118,085 |  |

| Amortisation for year | 9,217 |  |

| At 31 December 2024 | 127,302 |  |

| NET BOOK VALUE

| At 31 December 2024 | 57,455 |  |

| At 31 December 2023 | 21,615 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

14. | TANGIBLE FIXED ASSETS

| Group

| Improvements |  | Fixtures |

| to |  | and |  | Motor |  | Computer |

| property |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2024 | 920,512 |  | 836,092 |  | 141,132 |  | 1,515,103 |  | 3,412,839 |  |

| Additions | 17,353 |  | 10,224 |  | 42,300 |  | 94,986 |  | 164,863 |  |

| Disposals | (1,880 | ) | - |  | - |  | - |  | (1,880 | ) |

| At 31 December 2024 | 935,985 |  | 846,316 |  | 183,432 |  | 1,610,089 |  | 3,575,822 |  |

| DEPRECIATION

| At 1 January 2024 | 640,343 |  | 649,876 |  | 56,655 |  | 1,298,058 |  | 2,644,932 |  |

| Charge for year | 55,745 |  | 94,433 |  | 44,271 |  | 157,333 |  | 351,782 |  |

| At 31 December 2024 | 696,088 |  | 744,309 |  | 100,926 |  | 1,455,391 |  | 2,996,714 |  |

| NET BOOK VALUE

| At 31 December 2024 | 239,897 |  | 102,007 |  | 82,506 |  | 154,698 |  | 579,108 |  |

| At 31 December 2023 | 280,169 |  | 186,216 |  | 84,477 |  | 217,045 |  | 767,907 |  |

| The net book value of tangible fixed assets includes £ 24,820 (2023 - £ 48,648 ) in respect of assets held under hire purchase contracts.

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

14. | TANGIBLE FIXED ASSETS - continued

| Company

| Improvements |  | Fixtures |

| to |  | and |  | Motor |  | Computer |

| property |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2024 | 920,512 |  | 836,092 |  | 141,132 |  | 1,515,103 |  | 3,412,839 |  |

| Additions | 17,353 |  | 10,224 |  | 42,300 |  | 94,986 |  | 164,863 |  |

| Disposals | (1,880 | ) | - |  | - |  | - |  | (1,880 | ) |

| At 31 December 2024 | 935,985 |  | 846,316 |  | 183,432 |  | 1,610,089 |  | 3,575,822 |  |

| DEPRECIATION

| At 1 January 2024 | 640,343 |  | 649,876 |  | 56,655 |  | 1,298,058 |  | 2,644,932 |  |

| Charge for year | 55,745 |  | 94,433 |  | 44,271 |  | 157,333 |  | 351,782 |  |

| At 31 December 2024 | 696,088 |  | 744,309 |  | 100,926 |  | 1,455,391 |  | 2,996,714 |  |

| NET BOOK VALUE

| At 31 December 2024 | 239,897 |  | 102,007 |  | 82,506 |  | 154,698 |  | 579,108 |  |

| At 31 December 2023 | 280,169 |  | 186,216 |  | 84,477 |  | 217,045 |  | 767,907 |  |

15. | FIXED ASSET INVESTMENTS

| Company

| Unlisted

| investmen

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 2,793 |  |

| NET BOOK VALUE

| At 31 December 2024 | 2,793 |  |

| At 31 December 2023 | 2,793 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

15. | FIXED ASSET INVESTMENTS - continued

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiaries

| Trend Tool Technology Inc

| Registered office: 7351 West Friendly Avenue, Suite A, Greensboro, NC 27410, USA

| Nature of business: Cutting tool specialists

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2024 | 2023 |

£ | £ |

| Aggregate capital and reserves | 577,182 |  | 472,969 |  |

| Profit for the year | 77,576 |  | 141,621 |  |

| Trend Tool Technology Limited

| Registered office: Trend Tool Technology Limited, Ground Floor, Two Dockland Central, Guild Street, North Dock, Dublin 1, D01 K2C5

| Nature of business: Wholesale of machine tools

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| This is a dormant subsidiary.

16. | STOCKS

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Finished goods | 12,032,068 |  | 11,238,868 |  | 12,032,068 |  | 11,238,868 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

17. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Trade debtors | 7,941,612 |  | 7,265,231 |  | 7,941,612 |  | 7,265,231 |  |

| Directors' loan accounts | - |  | 127,306 |  | - |  | 127,306 |  |

| Prepayments | 645,535 |  | 543,232 |  | 645,535 |  | 543,232 |  |

8,587,147 |  | 7,935,769 |  | 8,587,147 |  | 7,935,769 |  |

18. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 20) | 6,988,988 |  | 4,914,458 |  | 6,988,988 |  | 4,914,458 |  |

| Hire purchase contracts (see note 21) | 9,350 |  | 16,170 |  | 9,350 |  | 16,170 |  |

| Trade creditors | 2,372,940 |  | 3,631,033 |  | 2,372,940 |  | 3,631,033 |  |

| Tax | 153,848 |  | 321,049 |  | 132,215 |  | 278,507 |  |

| Social security and other taxes | 267,124 |  | 272,848 |  | 266,732 |  | 272,243 |  |

| VAT | 484,124 |  | 548,665 |  | 484,124 |  | 548,665 |  |

| Other creditors | 534,439 |  | 380,872 |  | 534,439 |  | 380,872 |  |

| Amounts due to subsidiary | - |  | - |  | 574,389 |  | 523,972 |  |

| Directors' loan accounts | 66,046 |  | - |  | 66,046 |  | - |  |

| Accrued expenses | 2,058,847 |  | 2,217,301 |  | 2,057,028 |  | 2,209,446 |  |

12,935,706 |  | 12,302,396 |  | 13,486,251 |  | 12,775,366 |  |

19. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Hire purchase contracts (see note 21) | 13,140 |  | 22,490 |  | 13,140 |  | 22,490 |  |

| Other creditors | 373,191 |  | 357,623 |  | 373,191 |  | 357,623 |  |

386,331 |  | 380,113 |  | 386,331 |  | 380,113 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

20. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Amounts falling due within one year | or on demand: |

| Bank overdrafts | 6,988,988 |  | 4,914,458 |  | 6,988,988 |  | 4,914,458 |  |

21. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2024 | 2023 |

£ | £ |

| Gross obligations repayable:

| Within one year | 10,779 |  | 18,130 |  |

| Between one and five years | 15,216 |  | 25,995 |  |

25,995 |  | 44,125 |  |

| Finance charges repayable:

| Within one year | 1,429 |  | 1,960 |  |

| Between one and five years | 2,076 |  | 3,505 |  |

3,505 |  | 5,465 |  |

| Net obligations repayable:

| Within one year | 9,350 |  | 16,170 |  |

| Between one and five years | 13,140 |  | 22,490 |  |

22,490 |  | 38,660 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

21. | LEASING AGREEMENTS - continued

| Company

| Hire purchase |

| contracts |

2024 | 2023 |

£ | £ |

| Gross obligations repayable:

| Within one year | 10,779 |  | 18,130 |  |

| Between one and five years | 15,216 |  | 25,995 |  |

25,995 |  | 44,125 |  |

| Finance charges repayable:

| Within one year | 1,429 |  | 1,960 |  |

| Between one and five years | 2,076 |  | 3,505 |  |

3,505 |  | 5,465 |  |

| Net obligations repayable:

| Within one year | 9,350 |  | 16,170 |  |

| Between one and five years | 13,140 |  | 22,490 |  |

22,490 |  | 38,660 |  |

| Group

| Non-cancellable |

| operating leases |

2024 | 2023 |

£ | £ |

| Within one year | 552,590 |  | 551,446 |  |

| Between one and five years | 984,160 |  | 1,349,602 |  |

| In more than five years | 311,913 |  | 499,061 |  |

1,848,663 |  | 2,400,109 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

21. | LEASING AGREEMENTS - continued

| Hire purchase contracts relate to motor vehicles in both group and company.

| The group has options to purchase the motor vehicles for a nominal amount at the conclusion of the agreements. Interest rates underlying all obligations under hire purchase agreements are fixed at respective contract rates ranging from 0% to 7.37% (2023: 0% to 7.37%).

| The hire purchase agreements are secured upon the assets to which they relate. The assets have a carrying value of £24,820 (2023: £48,648).

| The directors consider that the carrying amount of the obligations under hire purchase agreements is approximate to their fair value.

| Company

| Non-cancellable |

| operating leases |

2024 | 2023 |

£ | £ |

| Within one year | 501,710 |  | 501,710 |  |

| Between one and five years | 932,087 |  | 1,246,649 |  |

| In more than five years | 311,913 |  | 499,061 |  |

1,745,710 |  | 2,247,420 |  |

| The company had total commitments under non-cancellable operating leases as detailed above.

22. | SECURED DEBTS

| The following secured debts are included within creditors:

| Company |

2024 | 2023 |

£ | £ |

6,988,988 |  | 4,914,458 |  |

| Advances under invoice discounting of £6,988,988 (2023: £4,914,458).

| Advances under invoice discounting are also secured by way of a fixed and floating charge, dated September 2009, over all current and future assets of the company.

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

23. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Deferred tax | 99,950 |  | 125,242 |  | 99,950 |  | 125,242 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 125,242 |  |

| Provided during year | (25,292 | ) |

| Balance at 31 December 2024 | 99,950 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 125,242 |  |

| Provided during year | (25,292 | ) |

| Balance at 31 December 2024 | 99,950 |  |

24. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 8,000 | Ordinary | 1 | 8,000 |  | 8,000 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

25. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 January 2024 | 7,250,730 |  |

| Profit for the year | 885,861 |  |

| Dividends | (240,400 | ) |

| At 31 December 2024 | 7,896,191 |  |

| Company

| Retained

| earnings

£ |

| At 1 January 2024 | 6,780,553 |  |

| Profit for the year | 808,286 |  |

| Dividends | (240,400 | ) |

| At 31 December 2024 | 7,348,439 |  |

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

26. | RELATED PARTY DISCLOSURES

| 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 wholly owned subsidiaries within the group.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| At the balance sheet date, creditors include loans from shareholders and their close family members amounting to £600,485 (2023: £380,872).

| During the year, interest amounting to £75,624 (2023: £87,747) was paid to shareholders and their close family members.

| At the balance sheet date, debtors included a loan to a shareholder amounting to £Nil (2023: £127,307). A balance of £127,307 was owed by the shareholder at the start of the year. £412,223 was advanced to the shareholder during the year and £605,580 was repaid.

| During the year, interest amounting to £1,096 (2023: £427) was charged on loans to shareholders and their close family members.

| During the year, key management personnel emoluments amounted to £1,606,869 (2023: £1,645,178).

27. | ULTIMATE CONTROLLING PARTY

| The group was controlled by S J Phillips throughout the year.

TREND TOOL TECHNOLOGY LTD (REGISTERED NUMBER: 01338493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

28. | SHARE-BASED PAYMENT TRANSACTIONS

| The 2021 EMI scheme is for the benefit of certain directors and long serving employees. The scheme has a minimum vesting period of 3 years and a maximum of 10 years, and is equity settled by granting options to acquire £1 Ordinary B shares, at an exercise price of £1.00.

| 5,800 options were granted at the start of the scheme. During the period, 178 options were forfeited. No options were exercised or expired during the year. Accordingly, 5,622 options were outstanding at the balance sheet date, of which none were exercisable.

| Given the nature and size of the group, no market value for its shares is readily available. Therefore, fair value of these options is calculated as the average EBITDA for the two financial years immediately proceeding the date of exercise multiplied by 5.

| As a result of the above valuation methodology, no change was recognised (2023: £Nil) in the statement of comprehensive income for the year and therefore no liability in the balance sheet for the year ending 31-Dec-2024.