REGISTERED NUMBER: 04222223 (England and Wales)

Report of the Directors and

Unaudited

Consolidated Financial Statements

for the Period 1 July 2023 to 31 December 2024

for

Tinware Direct Limited

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Other Comprehensive Income

4

Consolidated Statement of Financial Position

5

Company Statement of Financial Position

6

Consolidated Statement of Changes in Equity

7

Company Statement of Changes in Equity

8

Notes to the Consolidated Financial Statements

9

DIRECTORS:

Mrs J Economides

G Q Grumbridge

D M Lewsley FCA

SECRETARY:

G Q Grumbridge

REGISTERED OFFICE:

The Granary

Crowhill Farm

Ravensden Road

Wilden

Bedfordshire

MK44 2QS

REGISTERED NUMBER:

04222223 (England and Wales)

ACCOUNTANTS:

GREGORY WILDMAN

The Granary

Crowhill Farm

Ravensden Road

Wilden

Bedfordshire

MK44 2QS

The directors present their report with the financial statements of the company and the group for the period 1 July 2023 to 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mrs J Economides

G Q Grumbridge

D M Lewsley FCA

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs J Economides - Director

28 September 2025

TURNOVER

9,679,255

6,430,074

Cost of sales

5,841,253

4,326,794

GROSS PROFIT

3,838,002

2,103,280

Administrative expenses

3,073,405

1,634,784

OPERATING PROFIT

764,597

468,496

Interest payable and similar expenses

42,688

20,264

PROFIT BEFORE TAXATION

721,909

448,232

Tax on profit

4

188,580

98,713

PROFIT FOR THE FINANCIAL PERIOD

533,329

349,519

Profit attributable to:

Owners of the parent

533,329

349,519

PROFIT FOR THE PERIOD

533,329

349,519

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

533,329

349,519

Total comprehensive income attributable to:

Owners of the parent

533,329

349,519

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

105,303

110,961

Investments

8

-

-

105,303

110,961

CURRENT ASSETS

Stocks

9

1,157,124

897,209

Debtors

10

259,113

203,931

Cash at bank

834,868

886,520

2,251,105

1,987,660

CREDITORS

Amounts falling due within one year

11

1,089,459

844,583

NET CURRENT ASSETS

1,161,646

1,143,077

TOTAL ASSETS LESS CURRENT LIABILITIES

1,266,949

1,254,038

PROVISIONS FOR LIABILITIES

21,764

28,069

NET ASSETS

1,245,185

1,225,969

CAPITAL AND RESERVES

Called up share capital

14

1,965

1,965

Currency translation

(293

)

-

Retained earnings

1,243,513

1,224,004

SHAREHOLDERS' FUNDS

1,245,185

1,225,969

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2025 and were signed on its behalf by:

Mrs J Economides - Director

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

89,410

110,961

Investments

8

21

21

89,431

110,982

CURRENT ASSETS

Stocks

9

956,417

897,209

Debtors

10

612,637

203,931

Cash at bank

620,046

886,520

2,189,100

1,987,660

CREDITORS

Amounts falling due within one year

11

993,704

844,604

NET CURRENT ASSETS

1,195,396

1,143,056

TOTAL ASSETS LESS CURRENT LIABILITIES

1,284,827

1,254,038

PROVISIONS FOR LIABILITIES

22,353

28,069

NET ASSETS

1,262,474

1,225,969

CAPITAL AND RESERVES

Called up share capital

14

1,965

1,965

Retained earnings

1,260,509

1,224,004

SHAREHOLDERS' FUNDS

1,262,474

1,225,969

Company's profit for the financial year

550,325

349,519

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2025 and were signed on its behalf by:

Mrs J Economides - Director

Called up

share

Retained

Currency

Total

capital

earnings

translation

equity

£

£

£

£

Balance at 1 July 2022

-

1,105,905

-

1,105,905

Changes in equity

Issue of share capital

1,965

-

-

1,965

Dividends

-

(231,420

)

-

(231,420

)

Total comprehensive income

-

349,519

-

349,519

Balance at 30 June 2023

1,965

1,224,004

-

1,225,969

Changes in equity

Dividends

-

(513,820

)

-

(513,820

)

Total comprehensive income

-

533,329

(293

)

533,036

Balance at 31 December 2024

1,965

1,243,513

(293

)

1,245,185

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2022

-

1,105,905

1,105,905

Changes in equity

Issue of share capital

1,965

-

1,965

Dividends

-

(231,420

)

(231,420

)

Total comprehensive income

-

349,519

349,519

Balance at 30 June 2023

1,965

1,224,004

1,225,969

Changes in equity

Dividends

-

(513,820

)

(513,820

)

Total comprehensive income

-

550,325

550,325

Balance at 31 December 2024

1,965

1,260,509

1,262,474

1.	STATUTORY INFORMATION

Tinware Direct 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 General Information page.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measure reliably.

Intangible assets

Patent costs of a product are capitalised and amortised in line with the expected sales life of that product, subject to a maximum amortisation period of four years.

Tangible fixed assets

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Short leasehold - over the life of the lease

Plant and machinery -15% reducing balance and 10% cost

Fixtures and fittings -15% reducing balance

Computer equipment - 25% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group'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 period was 26 (2023 - 26 ) .

The average number of employees by undertakings that were proportionately consolidated during the period was 29 (2023 - 26 ) .

4.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

Period

1.7.23

to

Year Ended

31.12.24

30.6.23

£

£

Current tax:

UK corporation tax

194,903

94,754

Deferred tax

(6,323

)

3,959

Tax on profit

188,580

98,713

5.	INDIVIDUAL INCOME STATEMENT

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

6.	INTANGIBLE FIXED ASSETS

Group

Patents

and

licences

£

COST

At 1 July 2023

and 31 December 2024

42,956

AMORTISATION

At 1 July 2023

and 31 December 2024

42,956

NET BOOK VALUE

At 31 December 2024

-

At 30 June 2023

-

Company

Patents

and

licences

£

COST

At 1 July 2023

and 31 December 2024

42,956

AMORTISATION

At 1 July 2023

and 31 December 2024

42,956

NET BOOK VALUE

At 31 December 2024

-

At 30 June 2023

-

7.	TANGIBLE FIXED ASSETS

Group

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 July 2023

95,403

63,474

40,245

135,871

334,993

Additions

2,599

11,434

1,117

30,702

45,852

At 31 December 2024

98,002

74,908

41,362

166,573

380,845

DEPRECIATION

At 1 July 2023

55,928

36,931

30,195

100,978

224,032

Charge for period

13,592

10,638

2,422

24,858

51,510

At 31 December 2024

69,520

47,569

32,617

125,836

275,542

NET BOOK VALUE

At 31 December 2024

28,482

27,339

8,745

40,737

105,303

At 30 June 2023

39,475

26,543

10,050

34,893

110,961

Company

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 July 2023

95,403

63,474

40,245

135,871

334,993

Additions

2,599

1,249

-

22,396

26,244

At 31 December 2024

98,002

64,723

40,245

158,267

361,237

DEPRECIATION

At 1 July 2023

55,928

36,931

30,195

100,978

224,032

Charge for period

13,592

9,277

2,261

22,665

47,795

At 31 December 2024

69,520

46,208

32,456

123,643

271,827

NET BOOK VALUE

At 31 December 2024

28,482

18,515

7,789

34,624

89,410

At 30 June 2023

39,475

26,543

10,050

34,893

110,961

8.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 July 2023

and 31 December 2024

21

NET BOOK VALUE

At 31 December 2024

21

At 30 June 2023

21

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Tinware Direct Holding B.V

Registered office: The Granary, Crowhill Farm, Ravensden Road, Wilden, Bedfordshire, MK44 2QS

Nature of business: Holding company

%

Class of shares:

holding

Ordinary

100.00

Tinware Direct B.V

Registered office: The Granary, Crowhill Farm, Ravensden Road, Wilden, Bedfordshire, MK44 2QS

Nature of business: Suppliers of decorative and plain tinware.

%

Class of shares:

holding

Ordinary

100.00

Mill Barn Packaging Limited

Registered office: The Granary, Crowhill Farm, Ravensden Road, Wilden, Bedfordshire, MK44 2QS

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

Your Gift Basket Limited

Registered office: The Granary, Crowhill Farm, Ravensden Road, Wilden, Bedfordshire, MK44 2QS

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

9.

STOCKS

Group

Company

31.12.24

30.6.23

31.12.24

30.6.23

£

£

£

£

Stocks

1,103,216

887,839

902,509

887,839

Work-in-progress

53,908

9,370

53,908

9,370

1,157,124

897,209

956,417

897,209

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.24

30.6.23

31.12.24

30.6.23

£

£

£

£

Trade debtors

178,937

144,603

176,274

144,603

Amounts owed by group undertakings

-

-

363,228

-

Other debtors

1,572

-

1,572

-

Prepayments

78,604

59,328

71,563

59,328

259,113

203,931

612,637

203,931

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.12.24

30.6.23

31.12.24

30.6.23

£

£

£

£

Bank loans and overdrafts

144,369

210,136

144,369

210,136

Trade creditors

150,620

135,714

111,725

135,714

Amounts owed to group undertakings

-

-

20

21

Tax

222,999

94,754

185,444

94,754

Social security and other taxes

34,133

16,279

30,324

16,279

VAT

194,417

143,835

204,262

143,835

Other creditors

8,512

10,548

7,436

10,548

Directors' current accounts

97,179

41,673

97,179

41,673

Accruals and deferred income

139,935

95,228

139,935

95,228

Accrued expenses

97,295

96,416

73,010

96,416

1,089,459

844,583

993,704

844,604