REGISTERED NUMBER: 09582960 (England and Wales)

STRATEGIC REPORT, DIRECTORS' REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TEAM EDGE LIMITED

Page

Company Information

1

Strategic Report

2

Directors' Report

5

Report of the Independent Auditors

7

Income Statement

11

Other Comprehensive Income

12

Balance Sheet

13

Statement of Changes in Equity

14

Notes to the Financial Statements

15

DIRECTORS:

J D Chadwick

J Wilmott

REGISTERED OFFICE:

92 George Richards Way

Broadheath

Altrincham

Cheshire

WA14 5ZR

REGISTERED NUMBER:

09582960 (England and Wales)

AUDITORS:

Harold Sharp Limited

Statutory Auditors and Chartered Accountants

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

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

REVIEW OF BUSINESS

This report aims to present a balanced view of the development and the performance of the company.

PRINCIPAL ACTIVITIES

The principal activities of the company are that of a sub holding company.

RESULTS AND DIVIDENDS

Ordinary dividends were paid during the year of £222,218 (2023: £222,216). The company's results for the year are included within these financial statements.

PRINCIPAL RISKS AND UNCERTAINTIES

Effective working capital management is a priority to ensure the associated risks are controlled and balanced against the challenging market environment in which we operate. The main financial risks facing the company are those relating to rising labour costs, foreign currency exchange and the widely publicised global supply chain issues and the subsequent rising container costs. The director's policy agreed for managing these financial risks remain unchanged. The directors work closely to manage any foreign exchange fluctuations and working directly with freight forwarders to ensure we have secured space on vessels from China to the UK , managing pricing and delays caused by the global impact of the current wars.

NON - FINANCIAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the company's strategy is robust and have few risks associated. The key business risks and uncertainties affecting the company are considered to relate to a certain level of dependence on the strength of our customer base and any government changes and in addition, the company's ability to maintain adequate continuity of supply chain within the context of global uncertainties on raw material availability and demand.

NON-FINANCIAL PERFORMANCE INDICATORS

The company's key non-financial indicators are those related to employee health, safety and well-being, training, development, quality, community, and customer satisfaction. The company and our employees continue to support a wide variety of community projects.

FUTURE DEVELOPMENTS AND INVESTMENT

The company will continue to invest in the continuous improvement of its existing products and in the development of new innovative products to facilitate sales growth, long term sustainability and efficiency gains across a range of market sectors. This ongoing investment will ensure the company provides ever increasing levels of product quality, performance, customer service and satisfaction.

Cyber security continues to be a focus for investment and is integrated into the organisation wide governance frameworks, including strategy, risk management processes and compliance and audit procedures.

SUPPLIERS

The company commits to regular engagement and collaboration with our supply chain and are committed to paying in line with supplier payment terms.

OUR COMMITMENT TO THE ENVIRONMENT

Corporate objectives continue to focus on doing the right thing for our community and the environment in everything we do, we have significantly reduced paper and plastic usage throughout both manufacturing and office activities and continue to find ways of 'recycling and reusing'.

Our philosophy is simple: do the right thing. As an independent British business with Directors who have over 60 years of experience, we've seen the industry change and we're evolving with it. Our "Three Ps" approach - People, Planet, Profit - is the backbone of every decision we make.

Whether it's our ethical sourcing practices, the durability of our products, or our approach to shipping and packaging, we are building a business that supports long term sustainability for everyone in the supply chain, including our retail partners.

- Sustainability in Action: From sourcing fabric and trims from OEKO-TEX® approved suppliers to packaging every garment in biodegradable bags, we're reducing environmental impact without compromising product quality.

- Ethical Sourcing: All our factories, under the stewardship of our team in China, are audited to amfori BSCI standards and we also make use of amfori BEPI, ensuring safe working conditions, fair pay and environmental care throughout our supply chain.

- Carbon Footprint Reduction: From container optimisation in shipping to switching to electric vehicles in our UK fleet, we're taking action to lower emissions across the board.

- Reforestation Initiatives: We've helped plant over 400,000 trees through long-term partnerships in the UK and Tanzania, offsetting some of our carbon footprint while making a tangible difference.

- Premium Products That Last: Our teamwear isn't fast fashion. It's designed for durability and longevity, with many of our bestselling products still going strong over a decade later.

- People First: From weekly fitness classes and employee coaching to mental health support, we champion our people just as passionately as we support our partners.

DEMERGER DURING THE YEAR

The group that the company headed up operated two distinct trading activities: Fabrics and Garments. The directors of the group have separated the two trades for several reasons. The fabric and garments are imported from overseas, and the costs associated with the logistics worldwide have been challenging. The directors would like to minimise risk and exposure from adverse trading conditions by separating the two trades as a means of protection going forward. In addition to protecting each trade from the other, the directors of the company have been reflecting that each trade has its own challenges, and the separation of the trades will provide two distinct companies with differing objectives. The directors and senior management team believe the separation will provide focus with objectives being met more efficiently to improve trading going forward. The separation will give clarity of the trading expenses per division. The directors' expectation is that the major focus will be on growing Garments as the margin here can be stronger and ultimately very attractive for outside investment within a period of 2 to 3 years. Fabrics already has a solid margin with a slight steadier and simpler cost base.

On the 1 January 2024 the company's subsidiary, Chadwick Textiles Limited, transferred its Fabric trade, assets and liabilities by way of dividend in specie at a cost of £355,750 to its former parent company CT Holdings Limited.

The shares in Chadwick Textiles Limited were subsequently transferred to Team Edge Limited from CT Holdings Limited by way of dividend in specie at a cost of £1.

The company's investment in CT Holdings limited was transferred in the year by way of dividend in specie for £2 to the company's new parent company JDC Holdco Limited. The remaining £750,000 of the investment has been written off as an impairment.

CT Holdings Limited was demerged - the Fabric Trade , subsequently left the group but remains under common control of the shareholders of the company's new ultimate parent group JDC Holdings Limited.

This has been a successful demerger and both trades have traded positively during 2024.

ON BEHALF OF THE BOARD:

J Wilmott - Director

25 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a sub-holding company.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £222,218 (2023: £222,216).

DIRECTORS

J D Chadwick has held office during the whole of the period from 1 January 2024 to the date of this report.

Other changes in directors holding office are as follows:

J Wilmott - appointed 26 September 2024

DIRECTORS' INDEMNITY

The company has made qualifying third party provisions for the benefit of its directors which remain in force at the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

The directors have chosen to disclose future developments, risk management, engagement with employees, supplier information, environment information and post balance sheet events in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Harold Sharp Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J Wilmott - Director

25 September 2025

Opinion

We have audited the financial statements of Team Edge Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Directors' Report 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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:

As part of our planning process:

- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.

- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006, health and safety, and employment law.

- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.

- Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates.

- Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entities ability to continue in operation.

- Testing key revenue lines, in particular cut-off, for evidence of management bias.

- Obtaining third-party confirmation of material bank balances.

- Documenting and verifying all significant related party balances and transactions.

- Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors and management.

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.

Karen Dent (Senior Statutory Auditor)

for and on behalf of Harold Sharp Limited

Statutory Auditors and Chartered Accountants

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

25 September 2025

TURNOVER

3

-

1,874

Administrative expenses

-

(753,613

)

-

755,487

Other operating income

15,000

-

OPERATING PROFIT

5

15,000

755,487

Interest receivable and similar income

222,217

222,216

237,217

977,703

Amounts written off investments

7

750,000

-

(512,783

)

977,703

Interest payable and similar expenses

8

-

1,874

(LOSS)/PROFIT BEFORE TAXATION

(512,783

)

975,829

Tax on (loss)/profit

9

3,009

-

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(515,792

)

975,829

(LOSS)/PROFIT FOR THE YEAR

(515,792

)

975,829

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(515,792

)

975,829

FIXED ASSETS

Investments

11

1

750,002

CURRENT ASSETS

Debtors

12

15,100

-

Cash at bank and in hand

8,237

8,338

23,337

8,338

CREDITORS

Amounts falling due within one year

13

20,964

17,956

NET CURRENT ASSETS/(LIABILITIES)

2,373

(9,618

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,374

740,384

CAPITAL AND RESERVES

Called up share capital

14

112

112

Retained earnings

15

2,262

740,272

SHAREHOLDERS' FUNDS

2,374

740,384

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

J Wilmott - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

112

(13,341

)

(13,229

)

Changes in equity

Dividends

-

(222,216

)

(222,216

)

Total comprehensive income

-

975,829

975,829

Balance at 31 December 2023

112

740,272

740,384

Changes in equity

Dividends

-

(222,218

)

(222,218

)

Total comprehensive income

-

(515,792

)

(515,792

)

Balance at 31 December 2024

112

2,262

2,374

1.	STATUTORY INFORMATION

Team Edge Limited is a private company limited by shares, incorporated in England and Wales. The company's registered number is 09582960 and the registered office is 92 George Richards Way, Broadheath, Altrincham, Cheshire, WA14 5ZR. The company is a sub- holding company.

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 represent the results of the individual entity. The functional and presentation currency is £ sterling.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirements of paragraphs 29.28(b) and 29.29;

•

the requirement of paragraph 33.7;

•

the requirements of paragraph 24(b) of IFRS 6.

The company's results are consolidated in the group financial statements prepared by its parent company, JDC Holdco Limited.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are 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.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investments in subsidiaries

Investments in subsidiaries are initially measured at cost and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. The directors make estimates as to the carrying value of these assets and provide for them accordingly.

From a completeness perspective, the directors are not aware of any other critical judgements within the company that give rise to a significant risk of material adjustment within the next financial year.

Revenue

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of value added tax.

Revenue from the sale of goods is recognised when the significant risks and benefits of ownership of the product have been transferred to the buyer, which may be upon shipment, completion of the product or the product being ready for delivery, based on specific contract terms.

Investments in subsidiaries

Investments in subsidiaries are stated at cost less provision for impairment.

Financial instruments

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

Financial instruments are recognised 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.

Basic financial assets, which include trade debtors, other debtors, amounts due from group undertakings, amounts owed by related parties, directors' current accounts and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

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, including bank loans and overdrafts, trade creditors, other creditors, amounts owed to related parties and accrued expenses 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 payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

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

Creditors

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

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Going concern

At the balance sheet date of 31 December 2024, the company made a loss for the year of £515,792 (2023: profit of £975,829), and had net assets at that date of £2,374 (2023: £740,384). The loss arose as a result of the company impairing the investment in its former subsidiary during the year.

Based on the current trading and future expectations the directors consider that the companies has sufficient working capital to enable it to continue to trade and meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements. Therefore the financial statements for the year ended 31 December 2024 have been prepared on a going concern basis.

3.

TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the company.

4.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023.

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

2024

2023

Directors

2

1

2024

2023

£

£

Directors' remuneration

-

-

Directors are remunerated by the company's subsidiary, Chadwick Textiles Limited.

5.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Management charges

15,000

-

Auditors remuneration is paid by the company's subsidiary, Chadwick Textiles Limited.

6.	EXCEPTIONAL ITEMS

2024

2023

£

£

Exceptional items

-

753,615

Exceptional items in the prior year relate to the write off of balances which Team Edge owed to its subsidiaries.

7.

AMOUNTS WRITTEN OFF INVESTMENTS

2024

2023

£

£

Impairment

750,000

-

The company's investment in CT Holdings limited was transferred in the year by way of dividend in specie for £2 to the company's new parent, JDC Holdco Limited. The remaining £750,000 of the investment has been written off as an impairment. CT Holdings Limited subsequently left the group.

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Other loan interest payable

-

1,874

9.

TAXATION

Analysis of the tax charge

The tax charge on the loss for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

3,009

-

Tax on (loss)/profit

3,009

-

Reconciliation of total tax charge included in profit and loss

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

2024

2023

£

£

(Loss)/profit before tax

(512,783

)

975,829

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

(128,196

)

243,957

Effects of:

Expenses not deductible for tax purposes

187,500

-

Income not taxable for tax purposes

(55,554

)

(243,958

)

Utilisation of tax losses

(741

)

-

Tax losses carried forward

-

1

Total tax charge

3,009

-

10.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £0.01 each

Interim

222,218

222,216

Dividends include dividend in specie of £2 in respect of the transfer of the company's investment in CT Holdings Limited to its parent company, JDC Holdco Limited.

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

750,002

Additions

1

Disposals

(2

)

Impairments

(750,000

)

At 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

750,002

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

Chadwick Textiles Limited

Registered office: 92 George Richards Way, Broadheath, Altrincham, Cheshire, WA14 5ZR

Nature of business: Brand quality unbranded teamwear/sportwear

%

Class of shares:

holding

Ordinary

100.00

The company owns 100% of the share capital of Chadwick Textiles Limited.

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

15,000

-

Amounts owed by related

parties

100

-

15,100

-

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

(1

)

-

Tax

3,009

-

Other creditors

3,702

17,956

Amounts owed to related

parties

14,254

-

20,964

17,956

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

11,222

Ordinary

£0.01

112

112

Ordinary shares have full voting, dividend and capital rights.

15.

RESERVES

Retained

earnings

£

At 1 January 2024

740,272

Deficit for the year

(515,792

)

Dividends

(222,218

)

At 31 December 2024

2,262

The retained earnings represents cumulative profits or losses, net of dividends paid and other adjustments.

16.	OTHER FINANCIAL COMMITMENTS

On 14 November 2022 the company entered into an agreement to provide its subsidiary, Chadwick Textiles Limited and its former subsidiary, CT Holdings Limited, with an unlimited multilateral guarantee in respect of their borrowings from HSBC UK Bank plc. At 31 December 2024, the amount outstanding under this guarantee was £700,245 (2023: £237,985).

17.	RELATED PARTY DISCLOSURES

During the year the company transferred its investment in CT Holdings Limited to its parent company, JDC Holdco Limited, by way of dividend in specie with a cost of £2. CT Holdings Limited was subsequently demerged from the group, but remains under common control of the shareholders of the company's new parent company, JDC Holdco Limited.

During the year the company levied management charges of £15,000 on its new subsidiary, Chadwick Textiles Limited. At 31 December 2024 Chadwick Textiles Limited owed the company £15,000 (2023: £nil).

Included within related party debtors is a balance of £100 (2023: £nil) owed from Edge Trainingwear Limited, an entity which is controlled by J D Chadwick.

Included within related party creditors is a balance of £14,254 (2023: £nil) owed to J D Chadwick.

Key management personnel are the directors, and T E Roberts, a director of the parent company.

18.	CONTROLLING PARTY

The company's immediate and ultimate parent company J.D.C Holdco Limited, incorporated in England, whose registered office is 92 Geroge Richards Way, Broadheath, Altrincham, WA14 5ZR. Group accounts are available from Companies House.

The ultimate controlling party is the director and majority shareholder, J D Chadwick.

19.	PROPOSED DIVIDEND

The company resolved on 1 September 2025 to pay a dividend in respect of the year ended 31 December 2024 of £222,216.