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Registration number: 05057190

TRAIL GROUP LIMITED
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

TRAIL GROUP LIMITED

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 12

TRAIL GROUP LIMITED

Company Information

Directors | J P Haigh W Wright J S Crosby

Company secretary | L Wright

Registered office | Unit C White Oak Technology Centre Swanley Kent BR8 7AG

TRAIL GROUP LIMITED

(Registration number: 05057190)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 434,657 | 376,296
Current assets |  |  |
Stocks |  | 44,430 | 44,430
Debtors | 5 | 4,834,039 | 3,482,781
Cash at bank and in hand |  | 75,113 | 97,688
|  | 4,953,582 | 3,624,899
Creditors: Amounts falling due within one year | 6 | (3,750,823) | (2,638,389)
Net current assets |  | 1,202,759 | 986,510
Total assets less current liabilities |  | 1,637,416 | 1,362,806
Creditors: Amounts falling due after more than one year | 6 | (131,223) | (61,377)
Provisions for liabilities |  | (63,123) | (68,968)
Net assets |  | 1,443,070 | 1,232,461
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Revaluation reserve |  | 1,000,000 | 1,000,000
Retained earnings |  | 443,069 | 232,460
Shareholders' funds |  | 1,443,070 | 1,232,461

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 December 2025 and signed on its behalf by:

TRAIL GROUP LIMITED

(Registration number: 05057190)
Balance Sheet as at 31 March 2025

......................................... W Wright Director

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit C
White Oak Technology Centre
Swanley
Kent
BR8 7AG
England

These financial statements were authorised for issue by the Board on 19 December 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures and fittings | 25% on reducing balance
Plant and machinery | 25% on reducing balance
Computer equipment | 25% on reducing balance
Motor vehicles | 25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessess.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are calssified as equity. Equity insstruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instrucments. If payment is deferred and the time vlaue of money is material, the initaial measurement is on a present value basis.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 54 (2024 - 28).

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Computer equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 101,372 | 104,525 | 60,572 | 490,001 | 756,470
Additions | 3,659 | - | 5,545 | 239,214 | 248,418
Disposals | - | - | - | (80,302) | (80,302)
At 31 March 2025 | 105,031 | 104,525 | 66,117 | 648,913 | 924,586
Depreciation
At 1 April 2024 | 58,074 | 42,507 | 30,040 | 249,553 | 380,174
Charge for the year | 12,654 | 13,974 | 8,980 | 108,564 | 144,172
Eliminated on disposal | - | - | - | (34,417) | (34,417)
At 31 March 2025 | 70,728 | 56,481 | 39,020 | 323,700 | 489,929
Carrying amount
At 31 March 2025 | 34,303 | 48,044 | 27,097 | 325,213 | 434,657
At 31 March 2024 | 43,298 | 62,018 | 30,532 | 240,448 | 376,296

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 2,021,008 | 1,785,578
Amounts owed by related parties | 9 | 1,137,237 | 1,248,429
Other debtors |  | 1,615,323 | 371,678
Prepayments |  | 60,471 | 77,096
|  | 4,834,039 | 3,482,781

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 61,531 | 27,605
Trade creditors |  | 1,665,536 | 1,170,258
Taxation and social security |  | 865,981 | 675,698
Accruals and deferred income |  | 698,757 | 360,691
Other creditors |  | 459,018 | 404,137
|  | 3,750,823 | 2,638,389

Creditors include net obligations under finance lease contracts which are secured of £61,531(2024 - £26,780). The finance lease contracts are secured against the underlying motor vehicles to which they relate.

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 131,223 | 61,377

Creditors include net obligations under finance lease contracts which are secured of £131,223 (2024: £61,377). These are secured in accordance with note 7 above.

7 | Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

| Revaluation reserve £ | Total £
Surplus/deficit on revaluation of other assets | 1,000,000 | 1,000,000

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Finance lease liabilities | 131,223 | 61,377

Current loans and borrowings

| 2025 £ | 2024 £
Bank overdrafts | - | 825
Finance lease liabilities | 61,531 | 26,780
| 61,531 | 27,605

9 | Related party transactions

The company's immediate and ultimate parent company is Trail Holdings Limited, who prepare consolidated financial statements. Trail Holdings Limited's registered office is Unit C, White Oak Technology Centre, Swanley, Kent BR8 7AG.

Loans to related parties

2025 | Parent £ | Entities with joint control or significant influence £ | Group undertakings £
At start of period | 927,050 | 61,734 | 321,378
Advanced | 37,451 | 70,110 | -
Repaid | - | - | (148,642)
At end of period | 964,501 | 131,844 | 172,736

2024 | Parent £ | Entities with joint control or significant influence £ | Group undertakings £
At start of period | 548,595 | - | 47,540
Advanced | 378,455 | 61,734 | 273,838
At end of period | 927,050 | 61,734 | 321,378

Terms of loans to related parties

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The loans provided are interest free and repayable on demand.

TRAIL GROUP LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Loans from related parties

2025 | Entities with joint control or significant influence £ | Group undertakings £
At start of period | 173,900 | 180,000
Repaid | (121,220) | -
At end of period | 52,680 | 180,000

2024 | Entities with joint control or significant influence £ | Group undertakings £
At start of period | 102,030 | 180,000
Advanced | 71,870 | -
At end of period | 173,900 | 180,000

Terms of loans from related parties

The loans represent short term funding arrangements which are interest free and repayable on demand.

10 | Off-balance sheet arrangements

Parent company guarantee
Trail Group Ltd provides a guarantee on a loan that Trail Holdings Ltd, the parent company, has received from a third party bank. The amount outstanding on the loan at the balance sheet date was £582,203 (2024: £640,138). The loan is secured by a fixed charge over the assets of Trail Group Ltd, as well as fixed and floating charges over the assets of Trail Holdings Ltd.