REGISTERED NUMBER: 04816025 (England and Wales)

Tydene Limited

Strategic Report, Report of the Director and

Audited Financial Statements

for the Year Ended 31 March 2026

Page

Company Information

1

Strategic Report

2

Report of the Director

5

Report of the Independent Auditors

7

Income Statement

11

Other Comprehensive Income

12

Statement of Financial Position

13

Statement of Changes in Equity

14

Statement of Cash Flows

15

Notes to the Statement of Cash Flows

16

Notes to the Financial Statements

18

DIRECTOR:

Mr E Tarim

REGISTERED OFFICE:

239-241 Kennington Lane

London

SE11 5QU

REGISTERED NUMBER:

04816025 (England and Wales)

SENIOR STATUTORY AUDITOR:

Altan Kemal FCA FCCA

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

The director presents his strategic report for the year ended 31 March 2026.

The company's performance has been in accordance with the expectations of the directors. The company has shown a high degree of resilience in a competitive industry to achieve targeted results.

REVIEW OF BUSINESS

Turnover for the company has increased slightly compared to last year, which is in line with expectations. Profitability over the period has also increased due to the increase in sales and better cost control. The director expects the company to remain resilient in the face of competition from other players in the industry. The director is optimistic that strategies put in place to enhance performance will enable the company's performance to continue improving in the coming years. The main threat to the company is its competitors. The company's main strategy is to provide a complete service to customers thereby increasing their customer base and the resulting impact on the overall performance of the company. The company's aim is to focus on specific markets (and customers) to ensure that a clear strategy to win and maintain customers is implemented and sustained.

The director recognises the importance of all of its staff and would like to thank them for all their hard work and efforts throughout the year in helping the company make this sustainable achievement.

The results for the year and the financial position of the company are shown in the annexed financial statements.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's ability to get an insurance cover is key to their ability to acquire inputs on consignment. Most of the purchases are on consignment and the consignors require an insurance cover to be in place to continue supplying on consignment. The level of cover depends on the financial health of the company. This is managed by keeping a close watch on monthly results and dealing with poor performing lines on a timely basis.

Furthermore, the stock levels are generally very low due to the perishable nature of the products. The company, therefore, depends on the reliability of the suppliers to meet their orders at short notice to prevent stock out leading to loss of customers and reputation degradation.To manage this risk for each product, the company maintains more than one supplier to fulfil the required orders to ensure that the failure of one supplier will not affect their ability to meet anticipated demand and maintain customer satisfaction.

KEY PERFORMANCE INDICATORS:

The main performance indicators are the turnover and the profit margins. Generally, products are sold at an agreed margin thereby leading to a positive correlation between the turnover and profit. All other costs apart from cost of sales are fairly fixed. The director monitors all costs on a monthly basis to ensure that poor performers are picked up on time and dealt with accordingly. Also, it is ensured that overheads are kept within their limits as their effect on the ability to remain in operational existence and profitability is critical.

The key performance indicator over the last two years are as follows:

2026

2025

£

£

Turnover

46,618,646

45,527,269

Gross profit

3,241,813

3,183,518

Net profit before tax

858,278

715,582

The director believes that other variables of performance indicators are marginal and not the best indicators of the overall performance, development and position of the company.

FUTURE DEVELOPMENTS

The director expects the growth in sales in the future as the company explores new products and customers.

COMPANY POLICY ON PAYMENT OF CREDITORS

The policy of the company is to agree terms of payment prior to commencing trade with a supplier and to abide by those terms on a timely submission of invoices.

POLICY ON EMPLOYEES

The company is committed to achieving a working environment which provides equality of opportunity and freedom from unlawful discrimination on the basis of gender, sexual orientation, marital or civil partner status, gender reassignment, race, religion or belief, colour, nationality, ethnic or national origin, disability or age, pregnancy or maternity, trade union membership or the fact that they are part-time workers. The company's Equality and Diversity policy aims to remove unfair and discriminatory practices within the company and to encourage full contribution from its diverse community. The company is committed to actively opposing all forms of discrimination. The company also aims to provide a service that does not discriminate against its clients in the means by which they can access the services supplied by the company. The company believes that the director, employees and customers are entitled to be treated with respect and dignity. The company's employment policy is to provide equal opportunity to all current and prospective employees without any discrimination. They endeavour to provide a work environment in which all individuals are treated with respect and dignity.

SOCIAL, ENVIRONMENT AND ETHICAL MATTERS

The company believes that by operating in an ethical and social aware manner they will help preserve the environment; that being an integral part of efficient and profitable business management. The director recognises that success in these areas depends on the involvement and commitment of everyone in the organisation.

ON BEHALF OF THE BOARD:

Mr E Tarim - Director

19 May 2026

The director presents his report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale of fruits and vegetables.

DIVIDENDS

An interim dividend of £2.65 per share was paid on 6 April 2025. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2026 will be £ 265,000 .

DIRECTOR

Mr E Tarim held office during the whole of the period from 1 April 2025 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

Donations were non political.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of 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 judgements 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 him 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 AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Alton & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr E Tarim - Director

19 May 2026

Opinion

We have audited the financial statements of Tydene Limited (the 'company') for the year ended 31 March 2026 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, 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 Financial Reporting Standard 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 March 2026 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	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 Auditors' 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 director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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 Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director 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 Report of the Director.

We have nothing to report in respect of the following matters where 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 director

As explained more fully in the Statement of Director's Responsibilities set out on page five, 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 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.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework that are applicable to the company and determined that the most significant are the food standards regulation, money laundering and anti bribery regulations. We understand how the company is complying with those regulations by making enquiries of management and key personel; we also reviewed correspondence files. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements using our general commercial and sector experience, through discussion with the directors and other management (as required by auditing standards) and from inspection of the company's regulatory and legal correspondence. We discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated those identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures, we did not become aware of actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Altan Kemal FCA FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

19 May 2026

REVENUE

46,618,646

45,527,269

Cost of sales

43,376,833

42,343,751

GROSS PROFIT

3,241,813

3,183,518

Administrative expenses

2,418,920

2,486,309

822,893

697,209

Other operating income

37,597

19,400

OPERATING PROFIT

4

860,490

716,609

Interest payable and similar expenses

5

2,212

1,027

PROFIT BEFORE TAXATION

858,278

715,582

Tax on profit

6

209,634

190,129

PROFIT FOR THE FINANCIAL YEAR

648,644

525,453

PROFIT FOR THE YEAR

648,644

525,453

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

648,644

525,453

FIXED ASSETS

Property, plant and equipment

8

58,717

100,842

Investment property

9

355,000

355,000

413,717

455,842

CURRENT ASSETS

Inventories

10

390,977

405,267

Debtors

11

6,723,692

6,273,739

Cash at bank and in hand

452,501

67,121

7,567,170

6,746,127

CREDITORS

Amounts falling due within one year

12

3,183,969

2,785,028

NET CURRENT ASSETS

4,383,201

3,961,099

TOTAL ASSETS LESS CURRENT LIABILITIES

4,796,918

4,416,941

PROVISIONS FOR LIABILITIES

14

26,843

30,510

NET ASSETS

4,770,075

4,386,431

CAPITAL AND RESERVES

Called up share capital

15

100,000

100,000

Fair value reserve

16

109,374

109,374

Retained earnings

16

4,560,701

4,177,057

SHAREHOLDERS' FUNDS

4,770,075

4,386,431

The financial statements were approved by the director and authorised for issue on 19 May 2026 and were signed by:

Mr E Tarim - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2024

100,000

3,948,604

109,374

4,157,978

Changes in equity

Dividends

-

(297,000

)

-

(297,000

)

Total comprehensive income

-

525,453

-

525,453

Balance at 31 March 2025

100,000

4,177,057

109,374

4,386,431

Changes in equity

Dividends

-

(265,000

)

-

(265,000

)

Total comprehensive income

-

648,644

-

648,644

Balance at 31 March 2026

100,000

4,560,701

109,374

4,770,075

Cash flows from operating activities

Cash generated from operations

1

565,059

714,000

Interest paid

(2,212

)

(1,027

)

Tax paid

(97,586

)

(343,823

)

Net cash from operating activities

465,261

369,150

Cash flows from investing activities

Purchase of tangible fixed assets

-

(2,401

)

Sale of tangible fixed assets

58,677

-

Net cash from investing activities

58,677

(2,401

)

Cash flows from financing activities

Amount withdrawn by directors

126,442

(110,059

)

Equity dividends paid

(265,000

)

(297,000

)

Net cash from financing activities

(138,558

)

(407,059

)

Increase/(decrease) in cash and cash equivalents

385,380

(40,310

)

Cash and cash equivalents at beginning of year

2

67,121

107,431

Cash and cash equivalents at end of year

2

452,501

67,121

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2026

2025

£

£

Profit before taxation

858,278

715,582

Depreciation charges

42,125

60,583

Profit on disposal of fixed assets

(58,677

)

-

Finance costs

2,212

1,027

843,938

777,192

Decrease/(increase) in inventories

14,290

(102,151

)

Increase in trade and other debtors

(597,078

)

(69,990

)

Increase in trade and other creditors

303,909

108,949

Cash generated from operations

565,059

714,000

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2026

31/3/26

1/4/25

£

£

Cash and cash equivalents

452,501

67,121

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

67,121

107,434

Bank overdrafts

-

(3

)

67,121

107,431

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/25

Cash flow

At 31/3/26

£

£

£

Net cash

Cash at bank and in hand

67,121

385,380

452,501

67,121

385,380

452,501

Total

67,121

385,380

452,501

1.	STATUTORY INFORMATION

Tydene Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. In determining the carrying amounts of certain assets and liabilities, the company makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The company’s estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. Further information about key assumptions concerning the future, and other key sources of estimation uncertainty, are set out in the notes.

Fair value measurements are estimates of the amounts for which assets or liabilities could be transferred at the measurement date, based on the assumption that such transfers take place between participants in principal markets and, where applicable, taking highest and best use into account. Where available, fair value measurements are derived from prices quoted in active markets for identical assets or liabilities. In the absence of such information, other observable inputs are used to estimate fair value. Inputs derived from external sources are corroborated or otherwise verified, as appropriate. In the absence of publicly available information, fair value is determined using estimation techniques that take into account market perspectives relevant to the asset or liability, in as far as they can reasonably be ascertained, based on predominantly unobservable inputs.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognised when the customer takes delivery of the goods. All turnover are derived from sales in the UK.

Tangible fixed assets

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

Short leasehold

-

straight line over the life of the lease

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less any additional costs to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Consignment purchases

Goods acquired on consignment are not recognised as the company's purchases until the title of the goods changes to the company. This occurs when the goods are sold.

3.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

1,373,944

1,315,094

Social security costs

162,747

112,610

Other pension costs

25,185

23,145

1,561,876

1,450,849

The average number of employees during the year was as follows:

2026

2025

Director

1

1

Accounts and management

12

12

Operations

43

41

56

54

2026

2025

£

£

Director's remuneration

83,158

83,183

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2026

2025

£

£

Hire of plant and machinery

47,580

53,116

Other operating leases

254,464

285,654

Depreciation - owned assets

42,125

60,584

Profit on disposal of fixed assets

(58,677

)

-

Auditors' remuneration

17,500

17,500

Auditors' remuneration for non audit work

18,536

18,500

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2026

2025

£

£

Bank interest

243

343

Interest and penalties

1,969

684

2,212

1,027

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2026

2025

£

£

Current tax:

UK corporation tax

213,301

194,121

Deferred tax

(3,667

)

(3,992

)

Tax on profit

209,634

190,129

7.

DIVIDENDS

2026

2025

£

£

Ordinary shares of £1 each

Interim

265,000

297,000

8.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2025

354,108

275,398

50,653

12,749

692,908

Disposals

(51,542

)

-

-

-

(51,542

)

At 31 March 2026

302,566

275,398

50,653

12,749

641,366

DEPRECIATION

At 1 April 2025

326,766

222,873

31,380

11,047

592,066

Charge for year

27,339

10,505

3,855

426

42,125

Eliminated on disposal

(51,542

)

-

-

-

(51,542

)

At 31 March 2026

302,563

233,378

35,235

11,473

582,649

NET BOOK VALUE

At 31 March 2026

3

42,020

15,418

1,276

58,717

At 31 March 2025

27,342

52,525

19,273

1,702

100,842

9.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

355,000

NET BOOK VALUE

At 31 March 2026

355,000

At 31 March 2025

355,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 2016

121,675

Cost

233,325

355,000