REGISTERED NUMBER: SC161627

WORLDWIDE TROPICALS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

189,687

159,076

189,687

159,076

CURRENT ASSETS

Stocks

35,900

24,965

Debtors

6

376,020

273,374

Cash at bank and in hand

295,838

428,321

707,758

726,660

CREDITORS

Amounts falling due within one year

7

231,291

208,367

NET CURRENT ASSETS

476,467

518,293

TOTAL ASSETS LESS CURRENT LIABILITIES

666,154

677,369

CREDITORS

Amounts falling due after more than one year

8

(5,290

)

-

PROVISIONS FOR LIABILITIES

(36,354

)

(33,682

)

NET ASSETS

624,510

643,687

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

624,505

643,682

SHAREHOLDERS' FUNDS

624,510

643,687

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2025 and were signed on its behalf by:

C D J Murray - Director

1.	STATUTORY INFORMATION

Worldwide Tropicals Limited is a private company, limited by shares, registered in Scotland. The company's registered address is Caledonia House, 89 Seaward Street, Glasgow, G41 1HJ.

The financial statements are presented in Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention.

Judgements

The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The directors consider there are no such significant judgements.

Turnover

Turnover comprises the invoice value of goods sold during the year, excluding value added tax, and net of trade discounts. The company's policy is to recognise a sale when substantially all the risks and rewards in connection with the goods have been passed to the buyer.

Goodwill

Goodwill is capitalised and is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

33.3% on cost, 25% on reducing balance, 10% on cost and 10% on reducing balance

Fixed assets are included in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill, plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Stocks

Stocks are valued at the lower of cost and estimated selling price less cost to sell.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Pension costs and other post-retirement benefits

The company makes payments to a SIPP in the name of a director. In addition, contributions are paid in respect of a scheme set up for auto-enrolment purposes. Contributions payable to these schemes are charged to the Profit and Loss Account in the period to which they relate.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Hire purchase agreements

Assets held under hire purchase agreements are capitalised in the balance sheet. The capital element of the future payments is treated as a liability. The interest element of the obligations is charged to the Profit and Loss Account over the relevant period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2024

and 30 June 2025

30,000

AMORTISATION

At 1 July 2024

and 30 June 2025

30,000

NET BOOK VALUE

At 30 June 2025

-

At 30 June 2024

-

Goodwill represents the amount established on the transfer of the trade of Worldwide Tropicals on 31 December 2009 and has been amortised evenly over its estimated useful life of ten years.

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2024

271,429

Additions

139,732

Disposals

(85,856

)

At 30 June 2025

325,305

DEPRECIATION

At 1 July 2024

112,353

Charge for year

38,479

Eliminated on disposal

(15,214

)

At 30 June 2025

135,618

NET BOOK VALUE

At 30 June 2025

189,687

At 30 June 2024

159,076

Included in the total net book value of tangible fixed assets held at 30 June 2025 was £19,308 (2024 : £Nil ) pledged as security against hire purchase obligations.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

367,538

265,347

Other debtors

8,482

8,027

376,020

273,374

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

5,771

-

Trade creditors

106,955

112,654

Taxation and social security

106,577

86,473

Other creditors

11,988

9,240

231,291

208,367

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

5,290

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

11,061

-

Hire purchase obligations are secured over the assets to which they relate.

10.	OTHER FINANCIAL COMMITMENTS

As at 30 June 2025, the company has future operating lease commitments of £60,000 (2024 : £30,000).

11.	RELATED PARTY DISCLOSURES

The balance due to a director at 30 June 2025, included in creditors is £7,002 (2024 : £3,914). The balance is interest free, unsecured and there are no fixed terms for repayment.