REGISTERED NUMBER: 05668115 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Trek Kit (Hereford) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D G Cassidy

R H Hoffman

Mrs J T Lindberg

REGISTERED OFFICE:

51 Eign Gate

Hereford

HR4 0AB

REGISTERED NUMBER:

05668115 (England and Wales)

AUDITORS:

R J Francis & Co Limited

Marshall Business Centre

Faraday Road

Hereford

Herefordshire

HR4 9NS

FIXED ASSETS

Tangible assets

4

528,590

557,946

CURRENT ASSETS

Stocks

4,537,759

5,231,740

Debtors

5

225,968

110,374

Cash at bank and in hand

920,091

1,578,052

5,683,818

6,920,166

CREDITORS

Amounts falling due within one year

6

4,295,282

5,188,682

NET CURRENT ASSETS

1,388,536

1,731,484

TOTAL ASSETS LESS CURRENT LIABILITIES

1,917,126

2,289,430

PROVISIONS FOR LIABILITIES

11,853

17,473

NET ASSETS

1,905,273

2,271,957

CAPITAL AND RESERVES

Called up share capital

1,100

1,100

Retained earnings

1,904,173

2,270,857

SHAREHOLDERS' FUNDS

1,905,273

2,271,957

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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:

D G Cassidy - Director

1.	STATUTORY INFORMATION

Trek Kit (Hereford) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenue and expenses during the period. The nature of estimation means, however, the actual outcomes could differ from those estimates.

Tangible assets are depreciated over their anticipated useful lives. The actual useful lives of the assets are assessed annually, and may vary depending on a number of factors. In assessing asset lives, factors such as technological development and usage are taken into account.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the sale of goods and is recongised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over 5 years

Leasehold improvements

-

Straight line over 5 years

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Office equipment

-

25% on cost

No depreciation is provided on freehold property

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

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and 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.

Taxation

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

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Leasehold

property

leasehold

improvemen

£

£

£

COST

At 1 January 2024

475,976

26,386

20,293

Additions

-

-

-

At 31 December 2024

475,976

26,386

20,293

DEPRECIATION

At 1 January 2024

-

26,386

8,216

Charge for year

-

-

6,873

At 31 December 2024

-

26,386

15,089

NET BOOK VALUE

At 31 December 2024

475,976

-

5,204

At 31 December 2023

475,976

-

12,077

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

148,645

15,895

151,287

838,482

Additions

11,398

-

7,244

18,642

At 31 December 2024

160,043

15,895

158,531

857,124

DEPRECIATION

At 1 January 2024

104,388

15,895

125,651

280,536

Charge for year

25,392

-

15,733

47,998

At 31 December 2024

129,780

15,895

141,384

328,534

NET BOOK VALUE

At 31 December 2024

30,263

-

17,147

528,590

At 31 December 2023

44,257

-

25,636

557,946

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

159,786

7,113

Other debtors

66,182

103,261

225,968

110,374

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,036,739

978,492

Amounts owed to group undertakings

2,760,933

3,427,207

Taxation and social security

263,416

273,176

Other creditors

234,194

509,807

4,295,282

5,188,682

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

141,906

120,750

Between one and five years

540,000

40,656

In more than five years

883,750

-

1,565,656

161,406

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

A A Houston (Senior Statutory Auditor)

for and on behalf of R J Francis & Co Limited

9.	CONTINGENT LIABILITIES

There were no contingent liabilities at 31 December 2024.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Trek Kit Holdings Limited. Company registration number: 13097650. Company registration address: 51 Eign Gate, Hereford, HR4 0AB.

The ultimate parent undertaking is Fenix Outdoor International AG, a company registered in Switzerland. Fenix Outdoor International AG prepares group Financial Statements and copies can be obtained from the Company's website. www.fenixoutdoor.se.