Vintage Trading Solutions Ltd. Company accounts

COMPANY REGISTRATION NUMBER: 03862799

VINTAGE TRADING SOLUTIONS LTD.

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 December 2024

VINTAGE TRADING SOLUTIONS LTD.

FINANCIAL STATEMENTS

YEAR ENDED 28 DECEMBER 2024

CONTENTS	PAGES

Officers and professional advisers	1

Strategic report	2 to 3

Directors' report	4 to 5

Independent auditor's report to the members	6 to 9

Statement of comprehensive income	10

Statement of financial position	11

Statement of changes in equity	12

Statement of cash flows	13

Notes to the financial statements	14 to 22

VINTAGE TRADING SOLUTIONS LTD.

OFFICERS AND PROFESSIONAL ADVISERS

THE BOARD OF DIRECTORS	A Charman
	H M J C Van Boekel
	H Hoogcarspel

REGISTERED OFFICE	20-22 Bridge End
	Leeds
	LS1 4DJ

AUDITOR	Wine & Co
	Chartered Accountants & statutory auditor
	20-22 Bridge End
	Leeds
	LS1 4DJ

VINTAGE TRADING SOLUTIONS LTD.

STRATEGIC REPORT

YEAR ENDED 28 DECEMBER 2024

PRINCIPAL OBJECTIVES AND REVIEW OF THE BUSINESS

The Directors present the Company's Strategic Report for the period ending 28 December 2024.

PRINCIPAL ACTIVITIES

Vintage Trading Solutions Limited, trading as Vintage Cash Cow, buys and resells vintage, antique, and pre-owned items. The business provides a convenient platform for customers to sell goods such as collectibles, antiques, and jewellery. Using its expertise in valuation and resale, the company offers competitive prices while maximising returns through resale.

BUSINESS REVIEW

In 2024 the company expanded its market presence and improved efficiency, achieving growth in customer numbers and sales. Key developments included: - Customer Growth: Increased customer base through targeted marketing, partnerships, and service improvements. - Product Expansion: Broadened inventory with high-value collectibles and rare antiques, diversifying revenue. - Operational Efficiency: Introduced advanced valuation tools, streamlined logistics, and improved inventory systems, reducing costs and processing times. - Sustainability: Expanded recycling and repurposing initiatives, reducing waste and supporting environmental goals.

FUTURE OUTLOOK

Priorities for the coming year include: - Digital Investment: Enhancing customer experience, valuation accuracy, and sales processes. - Geographic Expansion: Entering new markets to capture additional customer segments. - Sustainability: Embedding circular economy principles and extending eco-friendly practices. - Partnerships: Strengthening ties with auction houses, industry leaders, and online platforms.

PRINCIPAL RISKS AND UNCERTAINTIES

The company faces risks from competition, economic conditions, and regulatory change: - Competition: Traditional and online rivals may impact market share and margins. - Economic Climate: Inflation or recession may reduce discretionary spending. - Regulation: E-commerce and sustainability rules could increase compliance costs. These are managed through market monitoring, investment in innovation, and maintaining business flexibility.

KEY FINANCIAL PERFORMANCE INDICATORS

The key financial performance indicators are considered to be those that communicate the financial performance of the company as a whole. Turnover £46,676,292 (2023 - £28,293,496). Gross profit 57.69% (2023 - 53.12%). Net Assets £4,833,006 (2023 - £292,127)

CONCLUSION

The Directors are confident that Vintage Trading Solutions Limited is well-placed to manage risks and pursue growth through operational efficiency, customer focus, and sustainable practices.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

A Charman

Director

Registered office:

20-22 Bridge End

Leeds

LS1 4DJ

VINTAGE TRADING SOLUTIONS LTD.

DIRECTORS' REPORT

YEAR ENDED 28 DECEMBER 2024

The directors present their report and the financial statements of the company for the year ended 28 December 2024 .

DIRECTORS

The directors who served the company during the year were as follows:

A Charman
H Hoogcarspel	(Appointed 23 May 2024)
G Te Lintelo	(Appointed 23 May 2024)

DIVIDENDS

The directors do not recommend the payment of a dividend.

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, bank loans, trade creditors, trade debtors, and loans to the company. The main purpose of these instruments is to raise funds for the company's operation and to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the accounting instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of bank loans at floating rates of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the strategic report, 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). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the 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 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 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. AUDITOR

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

A Charman

Director

Registered office:

20-22 Bridge End

Leeds

LS1 4DJ

VINTAGE TRADING SOLUTIONS LTD.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF VINTAGE TRADING SOLUTIONS LTD.

YEAR ENDED 28 DECEMBER 2024

OPINION

We have audited the financial statements of Vintage Trading Solutions Ltd. (the 'company') for the year ended 28 December 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows 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 FRS 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 28 December 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 auditor's 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 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, 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.

AUDITOR'S 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 auditor’s 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: Irregularities that result from fraud are inherently more difficult to detect than irregularities that result from error. We consider that our audit procedures are designed and carried out to give a reasonable expectation that material misstatements resulting from fraud would be discovered. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 auditor's 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.

JEFFREY WINE

(Senior Statutory Auditor)

For and on behalf of

Wine & Co

Chartered Accountants & statutory auditor

20-22 Bridge End

Leeds

LS1 4DJ

26 September 2025

VINTAGE TRADING SOLUTIONS LTD.

STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED 28 DECEMBER 2024

		2024	2023
Note		£	£
TURNOVER	4	46,676,292	28,293,496

Cost of sales	( 19,747,884)	( 13,263,065)
	-------------	-------------
GROSS PROFIT	26,928,408	15,030,431

Distribution costs		( 12,161,952)	( 8,625,228)
Administrative expenses		( 9,076,728)	( 6,054,619)
Other operating income	5	42,395	6,699
		-------------	-------------
OPERATING PROFIT	6	5,732,123	357,283

Interest payable and similar expenses	10	( 316,926)	( 328,450)
		-------------	-------------
PROFIT BEFORE TAXATION		5,415,197	28,833

Tax on profit	11	( 874,318)	796
		------------	--------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME		4,540,879	29,629
		------------	--------

All the activities of the company are from continuing operations.

VINTAGE TRADING SOLUTIONS LTD.

STATEMENT OF FINANCIAL POSITION

28 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Intangible assets	12	1,813,242	1,404,664
Tangible assets	13	1,972,417	1,760,055
		------------	------------
		3,785,659	3,164,719

CURRENT ASSETS

Stocks	14	654,253	525,624
Debtors	15	1,411,228	1,084,783
Cash at bank and in hand		6,122,202	1,018,641
		------------	------------
		8,187,683	2,629,048

CREDITORS: amounts falling due within one year	17	( 6,902,415)		( 4,675,531)
		------------		------------
NET CURRENT ASSETS/(LIABILITIES)			1,285,268		( 2,046,483)
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			5,070,927		1,118,236

CREDITORS: amounts falling due after more than one year	18		( 4,986)		( 826,109)

PROVISIONS

Taxation including deferred tax	19	( 232,935)	–
		------------	------------
NET ASSETS		4,833,006	292,127
		------------	------------

CAPITAL AND RESERVES

Called up share capital	22	2,717,944	2,717,944
Profit and loss account		2,115,062	( 2,425,817)
		------------	------------
SHAREHOLDERS FUNDS		4,833,006	292,127
		------------	------------

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

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

A Charman	H Hoogcarspel
Director	Director

Company registration number: 03862799

VINTAGE TRADING SOLUTIONS LTD.

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 28 DECEMBER 2024

	Called up share capital	Profit and loss account	Total
	£	£	£
AT 30 DECEMBER 2022	100	( 2,455,446)	( 2,455,346)

Profit for the year		29,629	29,629
	----	------------	------------
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	–	29,629	29,629

Issue of shares	2,717,844	–	2,717,844
	------------	------------	------------
TOTAL INVESTMENTS BY AND DISTRIBUTIONS TO OWNERS	2,717,844	–	2,717,844

AT 29 DECEMBER 2023	2,717,944	( 2,425,817)	292,127

Profit for the year		4,540,879	4,540,879
	------------	------------	------------
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	–	4,540,879	4,540,879

	------------	------------	------------
AT 28 DECEMBER 2024	2,717,944	2,115,062	4,833,006
	------------	------------	------------

VINTAGE TRADING SOLUTIONS LTD.

STATEMENT OF CASH FLOWS

YEAR ENDED 28 DECEMBER 2024

	2024	2023
Note	£	£

CASH FLOWS FROM OPERATING ACTIVITIES

Profit for the financial year	4,540,879	29,629

Adjustments for:
Depreciation of tangible assets	507,588	327,201
Amortisation of intangible assets	489,346	313,931
Interest payable and similar expenses	316,926	328,450
Loss on disposal of tangible assets	3,832	17,378
Tax on profit	874,318	( 796)
Accrued expenses	589,011	396,284

Changes in:
Stocks	( 128,629)	115,287
Trade and other debtors	( 326,445)	( 638,793)
Trade and other creditors	1,004,741	( 634,842)
	------------	---------
Cash generated from operations	7,871,567	253,729

Interest paid	( 316,926)	( 328,450)
Tax (paid)/received	( 797)	796
	------------	---------
Net cash from/(used in) operating activities	7,553,844	( 73,925)
	------------	---------

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of tangible assets	( 723,783)	( 1,719,282)
Proceeds from sale of tangible assets	1	–
Purchase of intangible assets	( 897,924)	( 591,082)
	------------	------------
Net cash used in investing activities	( 1,621,706)	( 2,310,364)
	------------	------------

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from issue of ordinary shares	–	2,717,844
Proceeds from borrowings	( 748,309)	530,975
Proceeds from loans from group undertakings	( 65,399)	( 901,637)
	------------	------------
Net cash (used in)/from financing activities	( 813,708)	2,347,182
	------------	------------

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS		5,118,430	( 37,107)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		1,003,772	1,040,879
		------------	------------
CASH AND CASH EQUIVALENTS AT END OF YEAR	16	6,122,202	1,003,772
		------------	------------

VINTAGE TRADING SOLUTIONS LTD.

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, LS1 4DJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing financial support of the company. The financial statements are prepared in sterling, which is the functional currency of the entity.

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. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Software development	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property improvements	-	20% straight line
Website development	-	25% straight line
Fixtures & fittings	-	25% straight line
Motor vehicles	-	25% straight line

	Office equipment	-	25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. TURNOVER

Turnover arises from:

	2024	2023
	£	£
Sale of goods	46,676,292	28,293,496
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. OTHER OPERATING INCOME

	2024	2023
	£	£
Other operating income	42,395	6,699
	--------	-------

6. OPERATING PROFIT

Operating profit or loss is stated after charging/crediting:

	2024	2023
	£	£
Amortisation of intangible assets	489,346	313,931
Depreciation of tangible assets	507,588	327,201
Loss on disposal of tangible assets	3,832	17,378
Impairment of trade debtors	(2,854)	(14,767)
Foreign exchange differences	( 10,464)	495
	---------	---------

7. AUDITOR'S REMUNERATION

	2024	2023
	£	£
Fees payable for the audit of the financial statements	35,000	30,000
	--------	--------

8. STAFF COSTS

The average number of persons employed by the company during the year, including the directors, amounted to:

	2024	2023
	No.	No.
Production staff	176	147
Administrative staff	27	21
Management staff	5	9
	----	----
	208	177
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	8,819,762	6,361,566
Other pension costs	113,690	90,238
	------------	------------
	8,933,452	6,451,804
	------------	------------

9. DIRECTORS' REMUNERATION

The directors' aggregate remuneration in respect of qualifying services was:

	2024	2023
	£	£
Remuneration	290,000	90,000
	---------	--------

Remuneration of the highest paid director in respect of qualifying services:

	2024	2023
	£	£
Aggregate remuneration	290,000	90,000
	---------	--------

10. INTEREST PAYABLE AND SIMILAR EXPENSES

	2024	2023
	£	£
Interest on banks loans and overdrafts	465	3,745
Interest due to group undertakings	267,565	161,780
Other interest payable and similar charges	48,896	162,925
	---------	---------
	316,926	328,450
	---------	---------

11. TAX ON PROFIT

Major components of tax expense/(income)

	2024	2023
	£	£

Current tax:

UK current tax expense/(income)	640,586	( 796)
Adjustments in respect of prior periods	797	–
	---------	----
Total current tax	641,383	( 796)
	---------	----

Deferred tax:

Origination and reversal of timing differences	232,935	–
	---------	----
Tax on profit	874,318	( 796)
	---------	----

Reconciliation of tax expense/(income)

The tax assessed on the profit on ordinary activities for the year is lower than (2023: lower than) the standard rate of corporation tax in the UK of 25 % (2023: 19 %).

	2024	2023
	£	£
Profit on ordinary activities before taxation	5,415,197	28,833
	------------	--------
Profit on ordinary activities by rate of tax	1,353,799	15,603
Adjustment to tax charge in respect of prior periods	797	–
Effect of expenses not deductible for tax purposes	38,241	641,132
Effect of capital allowances and depreciation	( 55,043)	( 657,531)
Utilisation of tax losses	( 696,411)	–
Deferred taxation movement	232,935	–
	------------	---------
Tax on profit	874,318	( 796)
	------------	---------

12. INTANGIBLE ASSETS

	Software develop -ment
	£
Cost
At 30 December 2023	1,927,171
Additions	897,924
	------------
At 28 December 2024	2,825,095
	------------
Amortisation
At 30 December 2023	522,507
Charge for the year	489,346
	------------
At 28 December 2024	1,011,853
	------------
Carrying amount
At 28 December 2024	1,813,242
	------------
At 29 December 2023	1,404,664
	------------

13. TANGIBLE ASSETS

	Leasehold property improve -ments	Website develop -ment	Fixtures and fittings	Motor vehicles	Office equipment	Total
	£	£	£	£	£	£
Cost
At 30 Dec 2023	1,485,074	564,186	399,278	85,897	413,917	2,948,352
Additions	263,046	63,860	190,580	–	206,297	723,783
Disposals	–	–	–	( 5,333)	–	( 5,333)
	------------	---------	---------	--------	---------	------------
At 28 Dec 2024	1,748,120	628,046	589,858	80,564	620,214	3,666,802
	------------	---------	---------	--------	---------	------------
Depreciation
At 30 Dec 2023	191,867	497,026	276,935	22,859	199,610	1,188,297
Charge for the year	308,148	27,040	60,732	20,141	91,527	507,588
Disposals	–	–	–	( 1,500)	–	( 1,500)
	------------	---------	---------	--------	---------	------------
At 28 Dec 2024	500,015	524,066	337,667	41,500	291,137	1,694,385
	------------	---------	---------	--------	---------	------------
Carrying amount
At 28 Dec 2024	1,248,105	103,980	252,191	39,064	329,077	1,972,417
	------------	---------	---------	--------	---------	------------
At 29 Dec 2023	1,293,207	67,160	122,343	63,038	214,307	1,760,055
	------------	---------	---------	--------	---------	------------

14. STOCKS

	2024	2023
	£	£
Finished goods and goods for resale	654,253	525,624
	---------	---------

15. DEBTORS

	2024	2023
	£	£
Trade debtors	18,519	173,386
Prepayments and accrued income	1,286,588	723,985
Corporation tax repayable	–	30,469
Other debtors	106,121	156,943
	------------	------------
	1,411,228	1,084,783
	------------	------------

16. CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise the following:

	2024	2023
	£	£
Cash at bank and in hand	6,122,202	1,018,641
Bank overdrafts	–	( 14,869)
	------------	------------
	6,122,202	1,003,772
	------------	------------

17. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	51,634	14,869
Trade creditors	1,699,841	631,711
Amounts owed to group undertakings	2,987,706	3,053,105
Accruals and deferred income	1,033,606	444,595
Corporation tax	640,586	–
Social security and other taxes	436,014	530,941
Director loan accounts	21,180	–
Other creditors	31,848	310
	------------	------------
	6,902,415	4,675,531
	------------	------------

18. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,986	826,109
	-------	---------

19. PROVISIONS

	Deferred tax (note 20)
	£
At 30 December 2023	–
Additions	232,935
	---------
At 28 December 2024	232,935
	---------

20. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 19)	232,935	–
	---------	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	232,935	–
	---------	----

21. EMPLOYEE BENEFITS

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 113,690 (2023: £ 90,238 ).

22. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	2,717,944	2,717,944	2,717,944	2,717,944
	------------	------------	------------	------------

23. ANALYSIS OF CHANGES IN NET DEBT

	At 30 Dec 2023	Cash flows	At 28 Dec 2024
	£	£	£
Cash at bank and in hand	1,018,641	5,103,561	6,122,202
Bank overdrafts	(14,869)	14,869	–
Debt due within one year	(3,053,105)	(7,415)	(3,060,520)
Debt due after one year	(826,109)	821,123	(4,986)
	------------	------------	------------
	( 2,875,442)	5,932,138	3,056,696
	------------	------------	------------

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company benefited from loans provided by it's directors. These loans are interest free and repayable on demand. At the balance sheet date the total amount owed from the company to the directors amounted to £21,180 (2023 - £Nil).