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Registration number: 14373126

Trandy Ltd Annual Report and Unaudited Financial Statements for the year ended 31 December 2025

Trandy Ltd

Contents

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

Trandy Ltd

(Registration number: 14373126)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 3 | 16,502 | 38,565
Tangible assets | 4 | 4,495 | 13,433
Investments | 5 | - | 100
|  | 20,997 | 52,098
Current assets |  |  |
Stocks | 6 | 1,250 | 1,500
Debtors | 7 | 2,503 | 5,080
Cash at bank and in hand |  | 34,405 | 17,042
|  | 38,158 | 23,622
Creditors: Amounts falling due within one year | 8 | (79,290) | (83,063)
Net current liabilities |  | (41,132) | (59,441)
Total assets less current liabilities |  | (20,135) | (7,343)
Provisions for liabilities |  | (854) | (20)
Net liabilities |  | (20,989) | (7,363)
Capital and reserves |  |  |
Called up share capital | 9 | 2 | 2
Retained earnings |  | (20,991) | (7,365)
Shareholders' deficit |  | (20,989) | (7,363)

Trandy Ltd

(Registration number: 14373126)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 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 and 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 for issue by the Board on 6 May 2026 and signed on its behalf by:

Mrs Tran Que Stephenson Director | Mr Andrew Mark Stephenson Director |

Trandy Ltd

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

1 | General information

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

The address of its registered office is:
12-14 Butchers Row
BARNSTAPLE
Devon
EX31 1BW

These financial statements were authorised for issue by the Board on 6 May 2026.

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.

Going concern

The financial statements have been prepared on a going concern basis as the directors have confirmed on going support to the company.

Trandy Ltd

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

Judgements

There are no judgements which management have made in the process of applying the accounting policies.

Key sources of estimation uncertainty

There are no key sources of estimation uncertainty that have a significant risk of causing a material adjustment to assets and liabilities to be disclosed..

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Trandy Ltd

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

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
Leasehold improvements | Straight line over the life of the lease
Plant and machinery | 25% reducing basis
Office equipment | 33% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | Straight line over 3 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trandy Ltd

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

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.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Trandy Ltd

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

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.

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.

Trandy Ltd

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

Financial instruments

Classification
Basic ﬁnancial assets include trade and other debtors, cash and bank balances. Basic ﬁnancial liabilities include trade and other payables, bank loans and preference shares that are classiﬁed as debt.
Recognition and measurement
Basic financial assets 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 method. Other debtors are classified as current assets if payment is due within one year or less and are initially recorded at transaction price and subsequently measured at the undiscounted amount of the cash expected to be received. Trade debtors are referred to above.
Basic financial liabilities 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 payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Other creditors are classiﬁed as current liabilities if payment is due within one year or less and are recognised initially at transaction price and subsequently measured at the undiscounted amount of the cash expected to be paid. If not, they are presented as non-current liabilities and are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Trade creditors and leases are referred to above.
Impairment
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 the estimated cash ﬂows discounted at the asset’s original effective interest rate. The impairment loss is recognised in proﬁt or loss.
If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in proﬁt or loss.

Trandy Ltd

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

3 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 January 2025 | 66,190 | 66,190
At 31 December 2025 | 66,190 | 66,190
Amortisation
At 1 January 2025 | 27,625 | 27,625
Amortisation charge | 22,063 | 22,063
At 31 December 2025 | 49,688 | 49,688
Carrying amount
At 31 December 2025 | 16,502 | 16,502
At 31 December 2024 | 38,565 | 38,565

Trandy Ltd

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

4 | Tangible assets

| Long leasehold land and buildings £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 January 2025 | 15,556 | 7,377 | 504 | 23,437
Additions | - | 3,631 | 300 | 3,931
Disposals | (15,556) | (5,853) | (107) | (21,516)
At 31 December 2025 | - | 5,155 | 697 | 5,852
Depreciation
At 1 January 2025 | 7,791 | 2,095 | 118 | 10,004
Charge for the year | 2,847 | 1,255 | 159 | 4,261
Eliminated on disposal | (10,638) | (2,210) | (60) | (12,908)
At 31 December 2025 | - | 1,140 | 217 | 1,357
Carrying amount
At 31 December 2025 | - | 4,015 | 480 | 4,495
At 31 December 2024 | 7,765 | 5,282 | 386 | 13,433

Included within the net book value of land and buildings above is £Nil (2024 - £7,765) in respect of long leasehold land and buildings.

5 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | - | 100

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 1,250 | 1,500

Trandy Ltd

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

7 | Debtors

Current | 2025 £ | 2024 £
Prepayments | 2,503 | 5,080
| 2,503 | 5,080

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 10 | 33,659 | 37,206
Trade creditors |  | 14,605 | 11,525
Social security and VAT |  | 19,274 | 19,265
Outstanding defined contribution pension costs |  | 188 | 291
Other payables |  | 1,947 | 1,485
Accruals |  | 5,052 | 8,754
Corporation tax liability |  | 2,982 | 3,368
Deferred income |  | 1,583 | 1,169
|  | 79,290 | 83,063

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A share of £1 each | 1 | 1 | 1 | 1
Ordinary B share of £1 each | 1 | 1 | 1 | 1
| 2 | 2 | 2 | 2

10 | Loans and borrowings

| 2025 £ | 2024 £
Current loans and borrowings
Loans from related parties | 33,659 | 37,206

Trandy Ltd

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

11 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 12,000 | 34,600
Later than one year and not later than five years | - | 16,650
| 12,000 | 51,250

The amount of non-cancellable operating lease payments recognised as an expense during the year was £28,891 (2024 - £34,600).

Trandy Ltd obtained an operating lease from a subsidiary at its net book value of £12,510 on 1 October 2023, when the remaining life of the lease was 30 months. At 31 December 2025, the remaining term of the lease was nil, as the lease was sold to a third party following the closure of the Taunton site during the year. Accordingly, there is no remaining lease liability outstanding at the year end.
A second operating lease started on 1 October 2023 for 12 - 14 Butchers Row, Barnstaple, with a lease life of 36 months. At 31 December 2025, the remaining life of the lease was 9 months.