Trade Mouldings Holdings Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Consolidated Statement of Comprehensive Income	7
Consolidated Balance Sheet	8
Company Balance Sheet	9
Consolidated Statement of Changes in Equity	10
Company Statement of Changes in Equity	11
Consolidated Statement of Cash Flows	12
Notes to the Consolidated Statement of Cash Flows	13
Notes to the Financial Statements	14—22

The directors present their report and the financial statements for the year ended 31 March 2026.

Principal Activity

The group's principal activity continues to be that of the manufacture and distribution of kitchen furniture.

Directors

The directors who held office during the year were as follows:

Mr Conor MacOscar
Mr Ronan MacOscar	Resigned	17/09/2025
Mr Austin MacOscar
Miss Sinead MacOscar	Resigned	17/09/2025

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

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Trade Mouldings Holdings Limited

Directors' Report (continued)

For The Year Ended 31 March 2026

Independent Auditors

The auditors, Kelly & O'Neill Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Conor MacOscar

Director

8 September 2026

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Page 4

Independent Auditor's Report

to the Members of

Trade Mouldings Holdings Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Trade Mouldings Holdings Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 March 2026 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 March 2026 and of the group's profit/(loss) 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 directors' 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 group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors 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 directors are responsible for the other information contained within the annual report. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Trade Mouldings Holdings Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are 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 directors determine 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 directors are responsible for assessing the group and parent 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 directors either intend to liquidate the group or the parent company or to cease operations, or have 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.

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 applicable to the company through enquiry of management, industry research and the application of cumulative audit knowledge.

We identified the following principal laws and regulations relevant to the company - Companies Act 2006 and the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS102).

We developed an understanding of the key fraud risks to the entity (including how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disclosures within the financial statements which may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of journal entries, walkthrough of the key controls system in place and enquiry of management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website 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 that 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.

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Independent Auditor's Report (continued)

to the Members of

Trade Mouldings Holdings Limited

Cathal O'Neill (Senior Statutory Auditor)

for and on behalf of Kelly & O'Neill Ltd , Statutory Auditor

8 September 2026

Kelly & O'Neill Ltd

15E Molesworth Street

Cookstown

Co. Tyrone

BT80 8NX

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Trade Mouldings Holdings Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 March 2026

Consolidated Statement of Comprehensive Income

		2026	2025
	Notes	£	£
TURNOVER	3	26,086,654	26,910,081
Cost of sales		(17,424,469 )	(18,368,150 )

GROSS PROFIT		8,662,185	8,541,931

Administrative expenses		(7,968,337 )	(7,672,282 )
Other operating income		-	8,418

OPERATING PROFIT	5	693,848	878,067
Profit on disposal of fixed assets		15,272	6,079
Other interest receivable and similar income	10	969,043	1,112,547

PROFIT BEFORE TAXATION		1,678,163	1,996,693
Tax on Profit	11	55,075	(25,557 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,733,238	1,971,136
OTHER COMPREHENSIVE INCOME:
Gain due to foreign exchange differences		16,505	38,782

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		1,749,743	2,009,918


Profit attributable to:
Owners of the parent		1,661,098	1,962,427
Non-controlling interest		72,140	8,709

		1,733,238	1,971,136


Total comprehensive income attributable to:
Owners of the parent		1,674,302	1,993,453
Non-controlling interest		75,441	16,465

		1,749,743	2,009,918

The notes on pages 13 to 22 form part of these financial statements.

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Trade Mouldings Holdings Limited

Consolidated Balance Sheet

As At 31 March 2026

Consolidated Balance Sheet

Registered number: NI704545

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		6,730,613		6,010,782

			6,730,613		6,010,782
CURRENT ASSETS
Stocks	14	3,390,282		3,332,339
Debtors	15	17,878,341		19,197,920
Cash at bank and in hand		12,928,116		10,360,279

		34,196,739		32,890,538
Creditors: Amounts Falling Due Within One Year	16	(3,572,965 )		(3,246,676 )

NET CURRENT ASSETS (LIABILITIES)			30,623,774		29,643,862

TOTAL ASSETS LESS CURRENT LIABILITIES			37,354,387		35,654,644

NET ASSETS			37,354,387		35,654,644

CAPITAL AND RESERVES
Called up share capital	17		200,000		200,000
Share premium account			33,334		33,334
Profit and Loss Account			36,286,171		34,611,869

Equity attributable to owners of the parent			36,519,505		34,845,203
Non-controlling interest			834,882		809,441

TOTAL EQUITY			37,354,387		35,654,644

On behalf of the board

Mr Conor MacOscar

Director

8 September 2026

The notes on pages 13 to 22 form part of these financial statements.

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Trade Mouldings Holdings Limited

Company Balance Sheet

As At 31 March 2026

Company Balance Sheet

Registered number: NI704545

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Investments	13		100,000		100,000

			100,000		100,000
CURRENT ASSETS
Debtors	15	14,860,360		19,873,744
Cash at bank and in hand		5,737,415		-

		20,597,775		19,873,744
Creditors: Amounts Falling Due Within One Year	16	(1,925 )		(1,835 )

NET CURRENT ASSETS (LIABILITIES)			20,595,850		19,871,909

TOTAL ASSETS LESS CURRENT LIABILITIES			20,695,850		19,971,909

NET ASSETS			20,695,850		19,971,909

CAPITAL AND RESERVES
Called up share capital	17		200,000		200,000
Profit and Loss Account			20,495,850		19,771,909

SHAREHOLDERS' FUNDS			20,695,850		19,971,909

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 723,941 (2025: £ 5,271,379 profit).

On behalf of the board

Mr Conor MacOscar

Director

8 September 2026

The notes on pages 13 to 22 form part of these financial statements.

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Trade Mouldings Holdings Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 March 2026

Consolidated Statement of Changes in Equity

	Share Capital	Share Premium	Profit and Loss Account	Total Attributable to Parent
	£	£	£	£
As at 1 April 2024	200,000	33,334	32,618,416	32,851,750
Profit for year	-	-	1,962,427	1,962,427

Other comprehensive income (expense) - foreign currency revaluation	-	-	31,026	31,026

Other comprehensive income for the year	-	-	31,026	31,026

Total comprehensive income for the year	-	-	1,993,453	1,993,453

Dividends paid	-	-	-	-

As at 31 March 2025 and 1 April 2025	200,000	33,334	34,611,869	34,845,203


Profit for year	-	-	1,661,098	1,661,098

Other comprehensive income (expense) - foreign currency revaluation	-	-	13,204	13,204

Other comprehensive income for the year	-	-	13,204	13,204

Total comprehensive income for the year	-	-	1,674,302	1,674,302

Dividends paid	-	-	-	-

As at 31 March 2026	200,000	33,334	36,286,171	36,519,505

	Non-controlling interest	Total
	£	£
As at 1 April 2024	792,976	33,644,726
Profit for year	8,709	1,971,136

Other comprehensive income (expense) - foreign currency revaluation	7,756	38,782

Other comprehensive income for the year	7,756	38,782

Total comprehensive income for the year	16,465	2,009,918

Dividends paid	-	-

As at 31 March 2025 and 1 April 2025	809,441	35,654,644


Profit for year	72,140	1,733,238

Other comprehensive income (expense) - foreign currency revaluation	3,301	16,505

Other comprehensive income for the year	3,301	16,505

Total comprehensive income for the year	75,441	1,749,743

Dividends paid	(50,000 )	(50,000)

As at 31 March 2026	834,882	37,354,387

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Trade Mouldings Holdings Limited

Company Statement of Changes in Equity

For The Year Ended 31 March 2026

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 April 2024	200,000	14,500,530	14,700,530
Profit for the year and total comprehensive income	-	5,271,379	5,271,379

As at 31 March 2025 and 1 April 2025	200,000	19,771,909	19,971,909


Profit for the year and total comprehensive income	-	723,941	723,941

As at 31 March 2026	200,000	20,495,850	20,695,850

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Trade Mouldings Holdings Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 March 2026

Consolidated Statement of Cash Flows

		2026	2025
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	3,348,709	969,376
Tax refunded		176,379	283,930

Net cash generated from operating activities		3,525,088	1,253,306

Cash flows from investing activities
Purchase of tangible assets		(1,887,258 )	(1,315,811 )
Proceeds from disposal of tangible assets		15,272	35,248
Interest received		969,043	1,112,547

Net cash used in investing activities		(902,943 )	(168,016 )

Cash flows from financing activities
Equity dividends paid		(50,000 )	-
Amount introduced by directors		-	40,159
Amount withdrawn by directors		(4,308)	-

Net cash (used in)/generated from financing activities		(54,308 )	40,159



Increase in cash and cash equivalents		2,567,837	1,125,449
Cash and cash equivalents at beginning of year	2	10,360,279	9,234,830

Cash and cash equivalents at end of year	2	12,928,116	10,360,279

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Trade Mouldings Holdings Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 March 2026

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2026	2025
	£	£
Profit for the financial year	1,733,238	1,971,136
Adjustments for:
Tax on profit	(55,075 )	25,557
Interest income	(969,043 )	(1,112,547 )
Depreciation of tangible assets	1,167,427	1,170,416
Profit on disposal of tangible assets	(15,272)	(6,079)
Foreign exchange losses	16,505	38,783
Movements in working capital:
(Increase)/decrease in stocks	(57,943 )	790,397
Decrease/(increase) in trade and other debtors	1,224,071	(827,643 )
Increase/(decrease) in trade and other creditors	304,801	(1,080,644 )

Net cash generated from operations	3,348,709	969,376

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2026	2025
	£	£
Cash at bank and in hand	12,928,116	10,360,279

3. Analysis of changes in net funds

	As at 1 April 2025	Cash flows	As at 31 March 2026
	£	£	£
Cash at bank and in hand	10,360,279	2,567,837	12,928,116

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Trade Mouldings Holdings Limited

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

Trade Mouldings Holdings Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI704545 . The registered office is Cookstown Business Park, Sandholes Road, Cookstown, Co. Tyrone, BT80 9AR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 March 2026.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

2.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

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Trade Mouldings Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.4. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The parent company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

Disclosures in respect of each class of share capital have not been presented

the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d).

2.5. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	4% straight line
Plant & Machinery	10% straight line
Motor Vehicles	20% straight line

Impairment of fixed assets

The company's property, plant and equipment are stated at cost less accumulated depreciation. The assets are depreciated over their estimated useful economic lives. The carrying values of such assets are reviewed annually for any indications of impairment. The carrying value of assets are tested for impairment where events or changes in circumstances indicate the carrying value is incorrectly stated. If such a review indicates that the carrying value is overstated, the value of the asset is restated to its deemed recoverable amount. Recoverable amount is deemed to be the higher of the asset's fair value less costs to sell, or its value in use. Value in use is calculated based on the discounted future cash flows of the asset, or of the cash generating unit to which the asset belongs.

2.7. Investments

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

Investments in joint ventures

Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint

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Trade Mouldings Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.9. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.10. Financial Instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2.11. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Trade Mouldings Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.12. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.13. Pensions

The group operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.14. Warranty provision

The company offers a warranty for any faulty goods sold. Provision is made for potential claims under warranty for goods which have required remedial work. Management review the level of remedial work required and the number of warranty claims made on a regular basis in order to calculate the provision for future claims for goods sold.

3. Turnover

Analysis of turnover by class of business is as follows:

	2026	2025
	£	£
Sale of goods	26,086,654	26,910,081

4. Other Operating Income

	2026	2025
	£	£
Other operating income	-	8,418

	-	8,418

5. Operating Profit

The operating profit is stated after charging:

	2026	2025
	£	£
Bad debts	23,592	23,525
Depreciation of tangible fixed assets	1,167,427	1,170,416

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Trade Mouldings Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2026	2025
	£	£
Audit Services
Audit of the group and company's financial statements	22,145	21,095

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2026	2025
	£	£
Wages and salaries	6,206,323	6,538,949
Other pension costs	85,652	44,412

	6,291,975	6,583,361

8. Average Number of Employees

Group

Average number of employees, including directors, during the year was as follows:

	2026	2025
Office and administration	40	31
Sales, marketing and distribution	45	43
Manufacturing	89	93

	174	167

Company

Average number of employees, including directors, during the year was: NIL (2025: NIL)

9. Directors' remuneration

	2026	2025
	£	£
Emoluments	286,214	392,457

Information regarding the highest paid director was as follows:

	2026	2025
	£	£
Emoluments	85,000	97,840

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Trade Mouldings Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Interest Receivable and Similar Income

	2026	2025
	£	£
Bank interest receivable	394,748	368,806
Other interest receivable	574,295	743,741

	969,043	1,112,547

11. Tax on Profit

The tax (credit)/charge on the profit for the year was as follows:

	Tax Rate		2026	2025
	2026	2025	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	52,588	25,557
Prior period adjustment			(107,663 )	-

			(55,075 )	25,557


Total tax charge for the period			(55,075 )	25,557

The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2026	2025
	£	£
Profit before tax	1,678,163	1,996,693

Tax on profit at 25% (UK standard rate)	419,541	499,174
Goodwill/depreciation not allowed for tax	288,039	291,085
Tax losses utilised	(63,279 )	(294,001 )
Capital allowances	(503,522 )	(364,898 )
Short term timing differences	-	(118,000 )
Research and Development tax credit	32,284	-
Prior period adjustment	(107,663 )	-
Group relief	(191,574 )	-
Tax incentives	(9,458 )	(6,971 )
Overseas tax suffered/expensed	52,588	25,557
Double taxation relief	(52,588 )	(6,389 )
Tax losses unutilised carried forward	80,557	-

Total tax charge for the period	(55,075)	25,557

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Trade Mouldings Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

12. Tangible Assets

Group

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 April 2025	1,656,662	16,503,619	824,694	18,984,975
Additions	-	1,781,468	105,790	1,887,258
Disposals	-	(121,382 )	(69,849 )	(191,231 )

As at 31 March 2026	1,656,662	18,163,705	860,635	20,681,002

Depreciation
As at 1 April 2025	1,364,333	10,901,623	708,237	12,974,193
Provided during the period	29,469	1,051,228	86,730	1,167,427
Disposals	-	(121,382 )	(69,849 )	(191,231 )

As at 31 March 2026	1,393,802	11,831,469	725,118	13,950,389

Net Book Value
As at 31 March 2026	262,860	6,332,236	135,517	6,730,613

As at 1 April 2025	292,329	5,601,996	116,457	6,010,782

Company

The company had no tangible fixed assets as at 31 March 2026 or 31 March 2025.

13. Investments

Company

	Subsidiaries
	£
Cost or Valuation
As at 1 April 2025	100,000

As at 31 March 2026	100,000

Provision
As at 1 April 2025	-

As at 31 March 2026	-

Net Book Value
As at 31 March 2026	100,000

As at 1 April 2025	100,000

Subsidiaries

Details of the group's subsidiaries as at 31 March 2026 are as follows:

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Trade Mouldings Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Trade Mouldings Limited	Cookstown Business Park, Sandholes Road, Cookstown, Co. Tyrone, BT80 9AR	Ordinary	100.00%	-
Trade Mouldings Distribution Limited	Cookstown Business Park, Sandholes Road, Cookstown, Co. Tyrone, BT80 9AR	Ordinary	-	80.00%

14. Stocks

	2026	2025
	£	£
Stock	3,390,282	3,332,339

15. Debtors

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Due within one year
Trade debtors	2,620,134	1,979,001	-	-
Amounts owed by group undertakings	-	-	-	3,998,250
Other debtors	15,258,207	17,218,919	14,860,360	15,875,494

	17,878,341	19,197,920	14,860,360	19,873,744

16. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2026	2025	2026	2025
	£	£	£	£
Trade creditors	2,305,989	2,033,794	-	-
Other creditors	365,616	408,844	-	-
Corporation tax	25,796	-	-	-
Taxation and social security	588,580	448,256	-	-
Accruals and deferred income	286,984	355,782	1,925	1,835

	3,572,965	3,246,676	1,925	1,835

17. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
200,000 Ordinary Shares of £ 1.00 each	200,000	200,000

18. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £85,652 (2025: £44,412).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

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Trade Mouldings Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

19. Reserves

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

Share premium account - this reserve records the amount above the nominal value received for shares sold, less transaction costs.

20. Related Party Disclosures

The directors and shareholders are considered to be related parties under FRS 102.

At 31 March 2026, amounts totalling £76,477 (2025: £131,403) were owed by the Group to its directors and shareholders.

The amounts owed to directors and shareholders arose from transactions with the directors and shareholders in the ordinary course of the Group's activities and comprise amounts advanced to the Group and/or expenses paid personally by the directors and shareholders on behalf of the Group.

The year-end balance is included within creditors in the financial statements. The amounts owed to directors and shareholders are interest free and are repayable in accordance with the terms agreed with the directors.

21. Controlling Parties

The directors consider that there is no single ultimate controlling party of the company.

22. Comparatives

For presentational purposes some prior year balances have been reanalysed. This had no effect on the profit and loss or reserves for the year.

Page 22