ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 06629663

THE TRADELINK INTERNATIONAL GROUP LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

THE TRADELINK INTERNATIONAL GROUP LIMITED

COMPANY INFORMATION

Directors	M D Wheatcroft
	P M Wheatcroft
	D J Wheatcroft


Registered number	06629663


Registered office	Jubilee House
	Stenson Road
	Coalville
	Leicestershire
	LE67 4JP


Independent auditors	WR Partners
	Chartered Accountants & Statutory Auditors
	Belmont House
	Shrewsbury Business Park
	Shrewsbury
	Shropshire
	SY2 6LG

THE TRADELINK INTERNATIONAL GROUP LIMITED

CONTENTS

	Page
Strategic report	1
Directors' report	2 - 3
Independent auditors' report	4 - 8
Statement of comprehensive income	9
Balance sheet	10 - 11
Statement of changes in equity	12
Statement of cash flows	13
Notes to the financial statements	14 - 30

THE TRADELINK INTERNATIONAL GROUP LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

The Director presents the strategic report for the year ended 31 December 2024.

Business review

The company’s principal strategic focus remains the supply of high quality certified ingredients to the food industry, specialising in allergen free. Integrity and excellence in customer service including technical support continue to underpin all our activities.
The aftershocks of the Covid pandemic with the attendant supply chain disruptions, accompanied by the impact of the war in Ukraine significantly impacted costs, but resilient supplier and customer relationships withstood the strain and enabled the business to achieve significant growth during the year.
Pleasing progress was made in the development of new products in-house, as well as opening up new strategic global sources of supply and establishing relationships with new customers with significant potential for long term growth. Ongoing investment in product sourcing and new product development is continuing to result in sustainable sales growth with both existing and new customers.

Principal risks and uncertainties

Insofar as the business deals in agricultural products which are traded globally, there are always risks associated with climatic events, supply and demand fluctuations and geopolitical tensions such as the war in Ukraine. To the greatest extent possible these risks are mitigated by minimising single sourcing, entering into exclusive and preferential supply arrangements and holding buffer stocks of the most vulnerable products in the UK.
Additional risks associated with product quality and allergens are mitigated by the maintenance of a rigorous BRC-accredited quality control system, third party product testing and supplier quality audits supporting full traceability ‘from farm to fork’.
Foreign currency exposure risks are mitigated by the use of hedging instruments and forward contracts, and working capital requirements are closely monitored to ensure adequate funding as the business grows.

The company maintains close control over costs with a low overhead base and makes extensive use of 3PL facilities in different geographical locations which usually means stock is available from more than one location.

Financial key performance indicators

Turnover decreased by 1% for the year, profit before tax decreased by 32% and net assets increased by 23% which were all above forecast.

This report was approved by the board and signed on its behalf.

................................................

M D Wheatcroft

Director

Date: 30 September 2025

Page 1

THE TRADELINK INTERNATIONAL GROUP LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

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

Directors' responsibilities statement

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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Company's financial statements and then apply them consistently;

∙make judgments 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 to 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.

Results and dividends

The profit for the year, after taxation, amounted to £2,598,206 (2023 - £3,765,958).

No dividends were declared during the year (2023: £nil).

Directors

The directors who served during the year were:

M D Wheatcroft

P M Wheatcroft

D J Wheatcroft

Future developments

The director plans to continue the development of the Company and its business.

Page 2

THE TRADELINK INTERNATIONAL GROUP LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

M D Wheatcroft

Director

Date: 30 September 2025

Page 3

THE TRADELINK INTERNATIONAL GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE TRADELINK INTERNATIONAL GROUP LIMITED

Opinion

We have audited the financial statements of The Tradelink International Group Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, 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,except for the possible effects on the corresponding figures of the matter described in the basis for qualified opinion section of our report, 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 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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.

Page 4

THE TRADELINK INTERNATIONAL GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE TRADELINK INTERNATIONAL GROUP LIMITED (CONTINUED)

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 other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion 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.

Page 5

THE TRADELINK INTERNATIONAL GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE TRADELINK INTERNATIONAL GROUP LIMITED (CONTINUED)

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 in relation to which 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 Directors' responsibilities statement set out on page 2, 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 is 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.

Page 6

THE TRADELINK INTERNATIONAL GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE TRADELINK INTERNATIONAL GROUP LIMITED (CONTINUED)

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 an Auditors' report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR).

We understood how the Company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures, as well as reviewing correspondence with regulatory bodies.
We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.

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.

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 Auditors' report.

Page 7

THE TRADELINK INTERNATIONAL GROUP LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE TRADELINK INTERNATIONAL GROUP LIMITED (CONTINUED)

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 an Auditors' report 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.

Alex Riley FCCA (Senior statutory auditor)

for and on behalf of

WR Partners

Chartered Accountants

Statutory Auditors

Belmont House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

30 September 2025

Page 8

THE TRADELINK INTERNATIONAL GROUP LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	25,623,059	25,987,522
Cost of sales		(20,910,091)	(18,932,262)
Gross profit		4,712,968	7,055,260
Administrative expenses		(1,420,895)	(2,110,016)
Operating profit	5	3,292,073	4,945,244
Interest receivable and similar income	7	86,127	41,877
Interest payable and similar expenses	8	(26,100)	(26,100)
Profit before tax		3,352,100	4,961,021
Tax on profit	9	(753,894)	(1,195,063)
Profit for the financial year		2,598,206	3,765,958

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 14 to 30 form part of these financial statements.

Page 9

THE TRADELINK INTERNATIONAL GROUP LIMITED

REGISTERED NUMBER: 06629663

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	10		-		43,894
Tangible assets	11		122,922		39,718
Investments	12		569,745		318,512
			692,667		402,124
Current assets
Stocks	13	5,236,324		4,425,478
Debtors: amounts falling due after more than one year	14	350,000		-
Debtors: amounts falling due within one year	14	8,836,967		7,770,610
Cash at bank and in hand	15	257,600		2,936,173
		14,680,891		15,132,261
Creditors: amounts falling due within one year	16	(1,352,487)		(4,118,426)
Net current assets			13,328,404		11,013,835
Total assets less current liabilities			14,021,071		11,415,959
Creditors: amounts falling due after more than one year	17		(14,530)		(14,530)
Provisions for liabilities
Deferred tax	18	(16,836)		(9,930)
			(16,836)		(9,930)
Net assets			13,989,705		11,391,499

Page 10

THE TRADELINK INTERNATIONAL GROUP LIMITED

REGISTERED NUMBER: 06629663

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Capital and reserves
Called up share capital	19	2	2
Profit and loss account	20	13,989,703	11,391,497
		13,989,705	11,391,499

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

M D Wheatcroft

Director

Date: 30 September 2025

The notes on pages 14 to 30 form part of these financial statements.

Page 11

THE TRADELINK INTERNATIONAL GROUP LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	2	7,625,539	7,625,541
Comprehensive income for the year
Profit for the year	-	3,765,958	3,765,958
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	3,765,958	3,765,958

At 1 January 2024	2	11,391,497	11,391,499
Comprehensive income for the year
Profit for the year	-	2,598,206	2,598,206
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	2,598,206	2,598,206
At 31 December 2024	2	13,989,703	13,989,705

The notes on pages 14 to 30 form part of these financial statements.

Page 12

THE TRADELINK INTERNATIONAL GROUP LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

			2024	2023
			£	£

Cash flows from operating activities
Profit for the financial year	2,598,206	3,765,958
Adjustments for:
Amortisation of intangible assets	43,894	43,895
Depreciation of tangible assets	34,295	5,175
Interest paid	26,100	26,100
Interest received	(86,127)	(41,877)
Taxation charge	753,894	1,195,063
(Increase)/decrease in stocks	(809,502)	1,021,381
(Increase) in debtors	(1,416,356)	(2,509,152)
(Decrease)/increase in creditors	(2,170,697)	219,857
Corporation tax (paid)	(1,343,574)	(879,500)
Net cash generated from operating activities	(2,369,867)	2,846,900

Cash flows from investing activities
Purchase of tangible fixed assets	(117,500)	(29,232)
Sale of investment properties	-	-
Purchase of unlisted and other investments	(251,233)	(318,512)
Interest received	86,127	41,877
Net cash from investing activities	(282,606)	(305,867)
Cash flows from financing activities
Interest paid	(26,100)	(26,100)
Net cash used in financing activities	(26,100)	(26,100)
Net (decrease)/increase in cash and cash equivalents	(2,678,573)	2,514,933
Cash and cash equivalents at beginning of year	2,936,173	421,240
Cash and cash equivalents at the end of year	257,600	2,936,173

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	257,600	2,936,173
	257,600	2,936,173

Page 13

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The Tradelink International Group Limited (company number 06629663) is a private limited company, limited by shares, incorporated in England and Wales and domiciled in the United Kingdom. Its registered office and principal place of business is Jubilee House, Stenson Road, Coalville, England, LE67 4JP.
The principal activity of the Company is that of the importing and distributing a large range of speciality ingredients, primarily for the bakery market.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

The Company's forecasts and projections, taking account of reasonable possible changes in trading performance, show that the Company is expected to operate within the levels of its current facilities.
After making enquiries, the director has a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

Page 14

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as 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 all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 15

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 16

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Plant and machinery	-	20%	Straight-line
Motor vehicles	-	25%	Reducing balance
Office equipment	-	20%	Straight-line
Computer equipment	-	20%	Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 17

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.13

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.

2.14

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.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

2.15

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.

Page 18

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.16

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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

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

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Basic financial liabilities

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

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Page 19

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.16

Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 20

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors the following estimates and assumptions have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year:
Stock valuation
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Raw materials cost is based on the cost of purchase on a first in, first out basis. The carrying value of stock is £5,236,324 (2023: £4,425,478).
Other Debtors
Other debtors include loan balances owed to the company. Other debtor balances are stated at the initial transaction amount and are reviewed by the Directors at each balance sheet date for any provision which is required. Other debtors at the year end totalled £4,172,816 (2023: £2,653,129).

Turnover

The whole of the turnover is attributable to the principal activity of the Company.

Analysis of turnover by country of destination:

					2024	2023
					£	£

United Kingdom	22,597,069	22,245,291
Rest of Europe	3,025,740	3,562,492
Rest of the world	250	179,739
	25,623,059	25,987,522

	Exchange differences	(537,361)	(243,632)
	Auditors' remuneration in respect of the audit of these financial statements	15,200	13,950

Page 21

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Wages and salaries	511,602	448,692
Social security costs	57,890	41,139
Cost of defined contribution scheme	22,180	19,130
	591,672	508,961

The average monthly number of employees, including the directors, during the year was as follows:

	2024	2023
	No.	No.

Employees	11	9

7.	Interest receivable
		2024	2023
		£	£

	Other interest receivable	86,127	41,877
		86,127	41,877

8.	Interest payable and similar expenses
		2024	2023
		£	£

	Bank interest payable	26,100	26,100
		26,100	26,100

Page 22

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Corporation tax
Current tax on profits for the year	776,054	1,214,303
Adjustments in respect of previous periods	(29,066)	(25,255)
	746,988	1,189,048

Total current tax	746,988	1,189,048

Deferred tax
Origination and reversal of timing differences	6,906	6,015
Total deferred tax	6,906	6,015


	Tax on profit	753,894	1,195,063

Page 23

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.Taxation (continued)

Profit on ordinary activities before tax

3,352,100

4,961,021

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)	838,025	1,165,840
Effects of:
Non-tax deductible amortisation of goodwill and impairment	10,974	10,315
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	8,923	532
Capital allowances for year in excess of depreciation	-	354
Adjustments to tax charge in respect of prior periods	-	(25,255)
Other timing differences leading to an increase (decrease) in taxation	(74,962)	71,563
Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge	(29,066)	(28,286)
Total tax charge for the year	753,894	1,195,063

Page 24

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Intangible assets

		Goodwill
		£
	Cost
	At 1 January 2024	438,949
	At 31 December 2024	438,949
	Amortisation
	At 1 January 2024	395,055
	Charge for the year on owned assets	43,894
	At 31 December 2024	438,949
	Net book value
	At 31 December 2024	-
	At 31 December 2023	43,894

Page 25

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

11.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Office equipment	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	16,999	-	27,711	70,161	114,871
Additions	36,512	65,668	1,651	13,669	117,500
At 31 December 2024	53,511	65,668	29,362	83,830	232,371
Depreciation
At 1 January 2024	13,694	-	26,091	35,368	75,153
Charge for the year on owned assets	8,228	16,417	742	8,909	34,296
At 31 December 2024	21,922	16,417	26,833	44,277	109,449
Net book value
At 31 December 2024	31,589	49,251	2,529	39,553	122,922
At 31 December 2023	3,305	-	1,620	34,793	39,718

12.	Fixed asset investments

		Other fixed asset investments
		£
	Cost
	At 1 January 2024	318,512
	Additions	251,233
	At 31 December 2024	569,745

Page 26

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Raw materials and consumables	5,236,324	4,425,478
	5,236,324	4,425,478

14.	Debtors
		2024	2023
		£	£

Due after more than one year
Other debtors	350,000	-
	350,000	-

					2024	2023
					£	£

Due within one year
Trade debtors	4,677,520	4,887,195
Other debtors	3,822,816	2,653,129
Prepayments and accrued income	336,631	230,286
	8,836,967	7,770,610

15.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	257,600	2,936,173
	257,600	2,936,173

Page 27

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Trade creditors	390,293	1,212,565
Corporation tax	247,717	844,303
Other taxation and social security	39,900	-
Other creditors	529,063	1,719,306
Accruals and deferred income	145,514	342,252
	1,352,487	4,118,426

17.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Other creditors	14,530	14,530
	14,530	14,530

18.	Deferred taxation

		2024
		£

	At beginning of year	(9,930)
	Charged to profit or loss	(6,906)
	At end of year	(16,836)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

	Accelerated capital allowances	(16,836)	(9,930)
		(16,836)	(9,930)

Page 28

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

19.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

2 (2023 - 2) Ordinary shares of £1.00 each	2	2

20.

Reserves

Profit and loss account

The profit and loss reserve represents accumulated profits and losses since incorporation less any distributions.

21.	Analysis of net debt

		At 1 January 2024	Cash flows	At 31 December 2024
		£	£	£

Cash at bank and in hand	2,936,173	(2,678,573)	257,600
Debt due within 1 year	(1,270,229)	992,289	(277,940)
	1,665,944	(1,686,284)	(20,340)

22.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £22,180 (2023: £19,130. Contributions totalling £2,055 (2023: £1,904) were payable to the fund at the balance sheet date and are included in creditors.

Page 29

THE TRADELINK INTERNATIONAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

23.

Related party transactions

Included within other debtors are outstanding balances due from companies under common control, totalling £2,740,208 (2023: £1,631,531). Of this balance, £350,000 (2023: £nil) is shown in other debtors due in over 1 year. Balances provided for total £60,158 (2023: £nil) with £nil written off during the year.
Included within other debtors are amounts totalling £nil (2023: £326,000) owed from family members of Directors.
During the year amounts were donated to Loughborough Gospel Hall's Trust, a trust which two of the Directors are also Trustees of, totalled £26,000 (2023: £nil).
Included within other creditors are loan balances owed to family members of one of the Directors which total £160,000 (2023: £360,000). Interest is charged on the loans.
Included within other creditors are amounts owed to companies under common control totalling £279,029 (2023: £1,232,547).
Included within other creditors falling due after one year is a loan balance of £14,530 (2023: £14,530) owed to Electrospa Limited, a Company with common shareholders.
Included within other creditors is a Directors loan account with an outstanding balance of £33,357 (2023: £37,682). Included within other debtors is a Directors loan account with an outstanding balance of £556,790 (2023: £nil).

24.	Controlling party

The Company has no single controlling party.

Page 30