Caladanian Limited Company accounts

COMPANY REGISTRATION NUMBER: 5984095

CALADANIAN LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

CALADANIAN LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Strategic report	1

Director's report	2

Independent auditor's report to the members	4

Profit and loss account	7

Balance sheet	8

Statement of changes in equity	9

Notes to the financial statements	10

CALADANIAN LIMITED

STRATEGIC REPORT

YEAR ENDED 31 DECEMBER 2024

Principal activities The principal activity of the business during the period was that of importers and food wholesalers. Review of the business and future developments Turnover has remained high at £20,018,862 (2023: £24,390,278). The audited financial statements for the period ended 31 December 2024 showed a profit of £53,546 (2023: £2,285,139). The statement of financial position shows net assets of £4,418,956 (2023: £4,912,410). Both the level of the business and the year-end financial position was satisfactory and the director expect that the present level of activity will continue for the foreseeable future. Key financial performance indicators The director has determined that the following key financial performance indicators are the most appropriate to communicate the performance and position of the company:

		2024		2023
		£		£

Turnover	20,018,862	24,390,278
Gross profit margin	15.0%	14.6%
EBITDA	426,135	2,665,398

Principal risks and uncertainties The process of risk management is addressed through a framework of policies, procedures and internal controls. The policies are set by the Board of Directors and are reviewed by them on a regular basis. The company's operations expose it to a number of financial risks including price risk, liquidity risk, foreign currency risk and credit risk. Price risk The company is exposed to commodity price risk as a result of its operations. However, given the nature of the company's operation the level of risk is not considered to be significant. Therefore no actions are undertaken to manage exposure. This policy will be reviewed for appropriateness if the company's operations change. Liquidity risk The company actively maintains short-term debt finance that is designed to ensure that the company has sufficient available funds for operations and planned expansions. Foreign currency risk The company is exposed to transaction foreign currency risk. The risk of currency fluctuations are mitigated by purchasing forward contracts. The director will continue to assess and mitigate this risk when appropriate. Credit risk The company's credit risk relates to the recovery of amounts owed by customers for invoiced sales. The credit risk is managed by regular monitoring of outstanding amounts and through credit checks.

This report was approved by the board of directors on 22 December 2025 and signed on behalf of the board by:

N Ladefoged
Director

Registered office:

Spring Farm

Stackyard Green

Monks Eleigh

Ipswich

IP7 7BD

CALADANIAN LIMITED

DIRECTOR'S REPORT

YEAR ENDED 31 DECEMBER 2024

The director presents his report and the financial statements of the company for the year ended 31 December 2024 .

Director

The director who served the company during the year was as follows:

N Ladefoged

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Disclosure of information in the strategic report

The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments and financial risk management.

Director's responsibilities statement

The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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. He is 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. Statement of disclosure of information to auditors

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 22 December 2025 and signed on behalf of the board by:

N Ladefoged
Director

Registered office:

Spring Farm

Stackyard Green

Monks Eleigh

Ipswich

IP7 7BD

CALADANIAN LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CALADANIAN LIMITED

YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of Caladanian Limited (the 'company') for the year ended 31 December 2024 which comprise the profit and loss account, balance sheet, 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 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 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; - 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 director's 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 director 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 director is 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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's 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 director's 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 director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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: - Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; - Challenging assumptions and judgements made by management in their significant accounting estimates detailed in the accounting policies were indicative of potential bias; - Investigated the rationale behind significant or unusual bank transactions; - Performed analytical procedures to identify any unusual or unexpected relationships; - Identifying and testing journal entries, in particular any manual journal entries posted by unexpected users, posted with descriptions indicating a higher level of risk, or posted late with a favourable impact on financial performance. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 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 auditor’s report. 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.

W J E Kerr

(Senior Statutory Auditor)

For and on behalf of

Xeinadin Audit Limited

Chartered Accountants & Statutory Auditor

2 Crossways Business Centre

Bicester Road

Kingswood

Aylesbury

Bucks

HP18 0RA

22 December 2025

CALADANIAN LIMITED

PROFIT AND LOSS ACCOUNT

YEAR ENDED 31 DECEMBER 2024

			Period from
		Year to	26 Dec 22 to
		31 Dec 24	31 Dec 23
Note		£	£
Turnover	4	20,018,862	24,390,278

Cost of sales	( 16,601,816)	( 20,819,630)
	------------	------------
Gross profit	3,417,046	3,570,648

Administrative expenses		( 3,065,911)	( 905,250)
		-----------	-----------
Operating profit	5	351,135	2,665,398

Income from shares in group undertakings	9	75,000	–
Other interest receivable and similar income	10	2,078	40
Interest payable and similar expenses	11	( 374,271)	( 368,825)
		-----------	-----------
Profit before taxation		53,942	2,296,613

Tax on profit	12	( 396)	( 11,474)
		-------	-----------
Profit for the financial year and total comprehensive income		53,546	2,285,139
		-------	-----------

All the activities of the company are from continuing operations.

CALADANIAN LIMITED

BALANCE SHEET

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Investments	14		862		862

Current assets

Stocks	15	5,946,713	3,519,915
Debtors	16	3,942,272	5,160,244
Cash at bank and in hand		609,114	1,080,100
		------------	-----------
		10,498,099	9,760,259

Creditors: amounts falling due within one year	17	( 6,080,005)		( 4,848,711)
		------------		-----------
Net current assets			4,418,094		4,911,548
			-----------		-----------
Total assets less current liabilities			4,418,956		4,912,410
			-----------		-----------
Net assets			4,418,956		4,912,410
			-----------		-----------

Capital and reserves

Called up share capital	20	1	1
Profit and loss account	21	4,418,955	4,912,409
		-----------	-----------
Shareholders funds		4,418,956	4,912,410
		-----------	-----------

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 22 December 2025 , and are signed on behalf of the board by:

N Ladefoged
Director

Company registration number: 5984095

CALADANIAN LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 DECEMBER 2024

		Called up share capital	Profit and loss account	Total
		£	£	£
At 26 December 2022		1	2,627,270	2,627,271

Profit for the year			2,285,139	2,285,139
		----	-----------	-----------
Total comprehensive income for the year		–	2,285,139	2,285,139

At 31 December 2023		1	4,912,409	4,912,410

Profit for the year			53,546	53,546
		----	-----------	-----------
Total comprehensive income for the year		–	53,546	53,546

Dividends paid and payable	13	–	( 547,000)	( 547,000)
		----	--------	--------
Total investments by and distributions to owners		–	( 547,000)	( 547,000)

		----	-----------	-----------
At 31 December 2024		1	4,418,955	4,418,956
		----	-----------	-----------

CALADANIAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 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 Spring Farm, Stackyard Green, Monks Eleigh, Ipswich, IP7 7BD.

2. Statement of compliance

These financial statements have been prepared in accordance with the Companies Act 2006 and applicable accounting standards including Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102').

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of DLD Enterprises Limited which can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.

Judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the director is required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. Key sources of estimation uncertainty The key assumptions concerning the future and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (i) Recoverability of receivables The company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the ageing of the receivables, past experience of recoverability, and the credit profile of individual or groups of customers.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Turnover from services are recognised when the services are provided to the customer.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

Investments in subsidiaries

Investments in subsidiaries are accounted for at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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.

Financial instruments

The company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments. Basic financial assets, which include trade and other receivables, loans to fellow group companies and other related parties and cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest rate method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to equity holders

Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. Turnover

Turnover arises from:

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Sale of goods	19,883,862	24,255,278
Rendering of services	135,000	135,000
	------------	------------
	20,018,862	24,390,278
	------------	------------

The turnover is attributable to the one principal activity of the company. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
United Kingdom	20,018,862	24,320,749
Overseas	–	69,529
	------------	------------
	20,018,862	24,390,278
	------------	------------

5. Operating profit

Operating profit or loss is stated after charging/crediting:

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Foreign exchange differences	420,437	46,317
Reversal of impairment of loans to other related entities	–	(2,248,335)
	--------	-----------

6. Auditor's remuneration

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Fees payable for the audit of the financial statements	25,000	35,000
	-------	-------

7. Staff costs

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

	2024	2023
	No.	No.
Administrative staff	7	7
	----	----

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

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Wages and salaries	152,634	149,083
Social security costs	7,401	7,289
Other pension costs	3,261	3,155
	--------	--------
	163,296	159,527
	--------	--------

8. Director's remuneration

The director's aggregate remuneration in respect of qualifying services was:

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Remuneration	64,000	107,000
	-------	--------

9. Income from shares in group undertakings

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Dividend income from group undertakings	75,000	–
	-------	----

10. Other interest receivable and similar income

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Interest on cash and cash equivalents	2,078	40
	------	----

11. Interest payable and similar expenses

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Interest on banks loans and overdrafts	374,254	366,919
Other interest payable and similar charges	17	1,906
	--------	--------
	374,271	368,825
	--------	--------

12. Tax on profit

Major components of tax expense

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£

Current tax:

UK current tax expense	49	11,540
Adjustments in respect of prior periods	367	–
	----	-------
Total current tax	416	11,540
	----	-------

Deferred tax:

Origination and reversal of timing differences	( 20)	92
Adjustments in respect of prior periods	–	(158)
	----	----
Total deferred tax	( 20)	( 66)
	----	-------
Tax on profit	396	11,474
	----	-------

Reconciliation of tax expense

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: 23.52 %).

		Period from
	Year to	26 Dec 22 to
	31 Dec 24	31 Dec 23
	£	£
Profit on ordinary activities before taxation	53,942	2,296,613
	-------	-----------
Profit on ordinary activities by rate of tax	13,485	540,176
Adjustment to tax charge in respect of prior periods	367	–
Effect of expenses not deductible for tax purposes	5,309	( 528,182)
Effect of revenue exempt from tax	( 18,750)	–
Effect of different UK tax rates on some earnings	(15)	(367)
Adjustments in respect of prior periods - deferred tax	–	(158)
Adjustment to opening deferred tax to average rate	–	9
Adjustment to closing deferred tax to average rate	–	(4)
	-------	-----------
Tax on profit	396	11,474
	-------	-----------

An increase in the UK corporation tax rate from 19% to 25% (effective from 1 April 2023) was substantively enacted on 24 May 2021. For the financial period ended 31 December 2024, the current weighted averaged tax rate was 25% (2023: 23.52%). The deferred tax asset at 31 December 2024 has been calculated at 25%.

13. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2024	2023
	£	£
Equity dividends on ordinary shares	547,000	–
	--------	----

14. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	862
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	862
	----
At 31 December 2023	862
	----

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Caladanian (EU) Limited	Ordinary	100

The principal activity of the above subsidiary was that of importers and food wholesalers and the address of its registered office is Cloncollig Industrial Estate, Tullamore, Co Offaly, Ireland.

15. Stocks

	2024	2023
	£	£
Finished goods and goods for resale	5,946,713	3,519,915
	-----------	-----------

There is no significant difference between the replacement cost of the inventory and its carrying value.

16. Debtors

	2024	2023
	£	£
Trade debtors	472,252	924,234
Amounts owed by group undertakings	1,373,624	1,516,983
Deferred tax asset	86	66
Prepayments and accrued income	37,936	86,067
Amounts owed by other related entities	1,647,958	2,270,548
Other debtors	410,416	362,346
	-----------	-----------
	3,942,272	5,160,244
	-----------	-----------

Amounts owed by group undertakings and other related entities are receivable on demand.

17. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	3,414,781	2,622,231
Trade creditors	1,791,005	1,457,577
Amounts owed to group undertakings	621,589	–
Accruals and deferred income	236,240	753,432
Corporation tax	390	11,540
Social security and other taxes	4,195	3,313
Director loan accounts	11,000	–
Other creditors	805	618
	-----------	-----------
	6,080,005	4,848,711
	-----------	-----------

Bank loans are secured over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future.

Amounts owed to group undertakings are repayable on demand.

18. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2024	2023
	£	£
Included in debtors (note 16)	86	66
	----	----

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

	2024	2023
	£	£
Other short term timing differences	86	66
	----	----

19. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 3,261 (2023: £ 3,155 ).

20. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

21. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

22. Related party transactions

Information about related party transactions and outstanding balances are outlined below:

	2024	2023
	£	£

Sales to other related parties	35,273	21,292
Purchases from other related parties	180,998	331,621
Management charges from other related parties	2,118,572	2,511,742
Amounts owed to other related parties	5,986	14,862
Amounts due from other related parties	1,649,523	2,275,963
Amounts owed to key management personnel	11,000	–

The company is exempt from disclosing other related party transactions as they are with other companies that are wholly owned within the DLD Enterprises Limited group.

23. Controlling party

The immediate and ultimate parent company is DLD Enterprises Limited, a company incorporated in England and Wales. DLD Enterprises Limited heads the smallest and largest group to prepare consolidated financial statements which include Caladanian Limited. The address of the registered office for DLD Enterprises Limited is 12 North Bar, Banbury, OX16 0TB. The consolidated financial statements of DLD Enterprises Limited can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. The ultimate controlling party is the director N Ladefoged .