Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302024-06-30101The principal activity of the company and group during the year continued to be the provision of and management of transport services to the music and entertainment industry.false2023-07-0197falsefalsefalse 01305163 2023-07-01 2024-06-30 01305163 2022-07-01 2023-06-30 01305163 2024-06-30 01305163 2023-06-30 01305163 2022-07-01 01305163 c:Director1 2023-07-01 2024-06-30 01305163 c:Director1 2024-06-30 01305163 c:Director2 2023-07-01 2024-06-30 01305163 c:Director2 2024-06-30 01305163 c:Director4 2023-07-01 2024-06-30 01305163 c:RegisteredOffice 2023-07-01 2024-06-30 01305163 c:Agent1 2023-07-01 2024-06-30 01305163 d:Buildings 2023-07-01 2024-06-30 01305163 d:Buildings 2024-06-30 01305163 d:Buildings 2023-06-30 01305163 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01305163 d:MotorVehicles 2023-07-01 2024-06-30 01305163 d:MotorVehicles 2024-06-30 01305163 d:MotorVehicles 2023-06-30 01305163 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01305163 d:FurnitureFittings 2023-07-01 2024-06-30 01305163 d:FurnitureFittings 2024-06-30 01305163 d:FurnitureFittings 2023-06-30 01305163 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01305163 d:ComputerEquipment 2023-07-01 2024-06-30 01305163 d:ComputerEquipment 2024-06-30 01305163 d:ComputerEquipment 2023-06-30 01305163 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01305163 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 01305163 d:CurrentFinancialInstruments 2024-06-30 01305163 d:CurrentFinancialInstruments 2023-06-30 01305163 d:Non-currentFinancialInstruments 2024-06-30 01305163 d:Non-currentFinancialInstruments 2023-06-30 01305163 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 01305163 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01305163 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 01305163 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 01305163 d:ShareCapital 2023-07-01 2024-06-30 01305163 d:ShareCapital 2024-06-30 01305163 d:ShareCapital 2022-07-01 2023-06-30 01305163 d:ShareCapital 2023-06-30 01305163 d:ShareCapital 2022-07-01 01305163 d:SharePremium 2023-07-01 2024-06-30 01305163 d:SharePremium 2024-06-30 01305163 d:SharePremium 2022-07-01 2023-06-30 01305163 d:SharePremium 2023-06-30 01305163 d:SharePremium 2022-07-01 01305163 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 01305163 d:RetainedEarningsAccumulatedLosses 2024-06-30 01305163 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 01305163 d:RetainedEarningsAccumulatedLosses 2023-06-30 01305163 d:RetainedEarningsAccumulatedLosses 2022-07-01 01305163 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 01305163 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 01305163 c:OrdinaryShareClass2 2023-07-01 2024-06-30 01305163 c:OrdinaryShareClass2 2024-06-30 01305163 c:OrdinaryShareClass2 2023-06-30 01305163 c:OrdinaryShareClass3 2023-07-01 2024-06-30 01305163 c:OrdinaryShareClass3 2024-06-30 01305163 c:OrdinaryShareClass3 2023-06-30 01305163 c:OrdinaryShareClass4 2023-07-01 2024-06-30 01305163 c:OrdinaryShareClass4 2024-06-30 01305163 c:OrdinaryShareClass4 2023-06-30 01305163 c:FRS102 2023-07-01 2024-06-30 01305163 c:Audited 2023-07-01 2024-06-30 01305163 c:FullAccounts 2023-07-01 2024-06-30 01305163 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01305163 d:Subsidiary1 2023-07-01 2024-06-30 01305163 d:Subsidiary1 1 2023-07-01 2024-06-30 01305163 d:Subsidiary2 2023-07-01 2024-06-30 01305163 d:Subsidiary2 1 2023-07-01 2024-06-30 01305163 d:Subsidiary3 2023-07-01 2024-06-30 01305163 d:Subsidiary3 1 2023-07-01 2024-06-30 01305163 c:Consolidated 2024-06-30 01305163 c:ConsolidatedGroupCompanyAccounts 2023-07-01 2024-06-30 01305163 6 2023-07-01 2024-06-30 01305163 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered Number:01305163













TRANSAM TRUCKING LIMITED






DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024











 
TRANSAM TRUCKING LIMITED
 

 
COMPANY INFORMATION


Directors
A M Guterres (resigned 21 June 2024)
S J Flatt (resigned 21 June 2024)
N J Highcroft 




Registered number
01305163



Registered office
7 Trinity Street

Bungay

Suffolk

NR35 1EH




Independent auditor
Sumer Auditco Limited

Fitzroy House

Crown Street

Ipswich

Suffolk

IP1 3LG




Bankers
Barclays Bank PLC
14 Market Hill

Diss

Suffolk

IP22 3JU






 
TRANSAM TRUCKING LIMITED
 


CONTENTS



Page
Group Strategic Report
1
Directors' Report
2 - 3
Independent Auditor's Report
4 - 8
Consolidated Statement of Comprehensive Income
9
Consolidated Balance Sheet
10 - 11
Company Balance Sheet
12 - 13
Consolidated Statement of Changes in Equity
14
Company Statement of Changes in Equity
15
Consolidated Statement of Cash Flows
16 - 17
Consolidated Analysis of Net Debt
18
Notes to the Financial Statements
19 - 39



 
TRANSAM TRUCKING LIMITED
 

 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

Business review
 
The financial statements consolidate the results of Transam Trucking Limited and its subsidiary undertakings in the Netherlands and Republic of Ireland (further information can be found in note 13 to the financial statements).
The Group’s core business is that of transport for live tours and we are delighted to significantly improve our Financial footing in comparison to the previous financial year.  The profit before tax for the year was £1,133,768 (2023: £4,386,791) which is net of the Group's other source of trading income in wine.  
The directors have continued to utilise their experience through diversification into general haulage which represents an important part of the Group's offering, helping the Group to maintain and, where possible, increase its investment in its core fleet and drivers. 
With sufficient cash and realisable investments, together with net assets at year end of £10,707,339 (2023: £9,925,098), the Group considers itself to be well placed with numerous live tours already booked for 2025. 
During the year there was a management buy-out and a new holding company was incorporated called Transam Trucking Holdings Limited.

Principal risks and uncertainties
 
The prospect of a future Pandemic or major event similar to the COVID-19 Pandemic continues to represent a significant risk to the Group, particularly  in respect of business interruption, cash flow and bad debts.  The following are also considered to represent principal risks and uncertainties of the Group:
 - The number of live performances on tour;
 - A major bad debt; 
 - Operational challenges and uncertainty as a result of Brexit.
The directors have put in place key strategies to protect the Group against the above risks. Their customer base is carefully assessed and the directors monitor each tour so that resources can be deployed to the best effect.
The Group is also subject to financial risks, primarily credit risk and cash flow risk.  The Group's credit risk is primarily attributable to its trade debtors.  Policies and procedures are in place to protect against exposures and ensure business dealings are with customers with appropriate credit profiles. Cash flow risk is minimised through a number of measures including the preparation and monitoring of budgets and cash flow forecasts.  The Group has access to sufficient finance to cover expected needs. 

Financial key performance indicators
 
The Group considers its financial key performance indicators to be turnover, gross profit margin and the level of fixed overheads.  These can be determined from the Consolidated Statement of Comprehensive Income.  Whilst each tour is individually priced, the directors focus on ensuring the gross profit margin is maintained overall and that overheads are covered.


This report was approved by the board on 2 January 2025 and signed on its behalf.



N J Highcroft
Director


- 1 -



 
TRANSAM TRUCKING LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £847,523 (2023 - £3,425,256).

No dividends were declared during the year (2023 - £NIL).

Directors

The directors who served during the year were:

A M Guterres (resigned 21 June 2024)
S J Flatt (resigned 21 June 2024)
N J Highcroft 

Future developments

The Group continues to invest heavily in its core fleet and drivers, with the live music industry performing strongly.  Evidence of this is that there are a large amount of bands booked into 2025 and beyond.  


- 2 -



 
TRANSAM TRUCKING LIMITED

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

Financial instruments

The Group is exposed to various financial risks that arise as a normal part of its operational activities. The main risks are considered to be credit risk, liquidity risk and cash flow risk. These have been disclosed as part of the Strategic report.

Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the balance sheet date.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.

Auditor

On 28 March 2024 our auditor, SB Audit LLP, merged with Sumer Auditco Limited.
Accordingly SB Audit LLP formally resigned as the Company's auditor with the directors duly appointing Sumer Auditco Limited to fill the vacancy arising.
The auditor, Sumer Auditco Limited, will be proposed for reappointment in accordance with Companies Act 2006.

This report was approved by the board on 2 January 2025 and signed on its behalf.
 





N J Highcroft
Director


- 3 -



 
TRANSAM TRUCKING LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRANSAM TRUCKING LIMITED

Opinion


We have audited the financial statements of Transam Trucking Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 June 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 Group's and of the parent Company's affairs as at 30 June 2024 and of the Group's 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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's or the parent 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 directors with respect to going concern are described in the relevant sections of this report.



- 4 -



 
TRANSAM TRUCKING LIMITED


INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRANSAM TRUCKING LIMITED (CONTINUED)

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 ReportOur 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. 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 course of 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.


Opinion 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 Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 and 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.



- 5 -



 
TRANSAM TRUCKING LIMITED


INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRANSAM TRUCKING LIMITED (CONTINUED)

Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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's and the 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.



- 6 -



 
TRANSAM TRUCKING LIMITED


INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRANSAM TRUCKING LIMITED (CONTINUED)

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 Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience and through discussions and enquiries of directors and management. During the engagement team briefing, the outcomes of these discussions were shared with the team, as well as consideration as to where and how fraud may occur in the company.
The following laws and regulations were identified as being of significance to the company:
• Those laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards, taxation regulations and UK company law;
• Health and safety, anti-bribery, human rights and employment law;
• Compliance with the Goods Vehicles (Licensing of Operators) Act 1995 and the Working Time Regulations. 
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.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the company complies with such regulations; enquiries of management and those charged with governance concerning any actual or potential litigation or claims, inspection of relevant legal documentation, testing the appropriateness of entries in the nominal ledger, including journal entries and the performance of analytical procedures to identify any unexpected movements in account balances which may be indicative of fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK). 


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.



- 7 -



 
TRANSAM TRUCKING LIMITED


INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRANSAM TRUCKING LIMITED (CONTINUED)

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 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Steven Burgess (Senior Statutory Auditor)
for and on behalf of
Sumer Auditco Limited
Statutory Auditor
Fitzroy House
Crown Street
Ipswich
Suffolk
IP1 3LG

3 January 2025

- 8 -



 
TRANSAM TRUCKING LIMITED
 

 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
Note
£
£

  

Turnover
 4 
19,232,010
26,619,210

Cost of sales
  
(15,723,825)
(18,691,222)

Gross profit
  
3,508,185
7,927,988

Administrative expenses
  
(2,329,142)
(3,481,247)

Other operating income
 5 
199,307
73,606

Operating profit
 6 
1,378,350
4,520,347

Interest receivable and similar income
  
142,597
39,470

Interest payable and similar expenses
 10 
(387,179)
(173,026)

Profit before taxation
  
1,133,768
4,386,791

Tax on profit
 11 
(286,245)
(961,535)

Profit for the financial year
  
847,523
3,425,256

  

Currency translation differences
  
(65,282)
(45,226)

Other comprehensive income for the year
  
(65,282)
(45,226)

Total comprehensive income for the year
  
782,241
3,380,030

Profit for the year attributable to:
  

Owners of the parent Company
  
847,523
3,425,256

  
847,523
3,425,256

Total comprehensive income for the year attributable to:
  

Owners of the parent Company
  
782,241
3,380,030

  
782,241
3,380,030

The notes on pages 19 to 39 form part of these financial statements.


- 9 -



 
TRANSAM TRUCKING LIMITED
REGISTERED NUMBER:01305163


CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 12 
10,775,539
8,782,908

Investments
 13 
35,532
12,613

  
10,811,071
8,795,521

Current assets
  

Stocks
 14 
137,620
191,475

Debtors: amounts falling due within one year
 15 
12,937,442
7,180,890

Current asset investments
 16 
1,603,371
1,753,034

Cash at bank and in hand
 17 
6,048,822
9,700,173

  
20,727,255
18,825,572

Creditors: amounts falling due within one year
 18 
(16,002,857)
(13,645,445)

Net current assets
  
 
 
4,724,398
 
 
5,180,127

Total assets less current liabilities
  
15,535,469
13,975,648

Creditors: amounts falling due after more than one year
 19 
(3,881,809)
(3,232,624)

Provisions for liabilities
  

Deferred taxation
 20 
(946,321)
(817,926)

  
 
 
(946,321)
 
 
(817,926)

Net assets
  
10,707,339
9,925,098


- 10 -



 
TRANSAM TRUCKING LIMITED
REGISTERED NUMBER:01305163

    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 21 
85,344
85,344

Share premium account
 22 
150,236
150,236

Profit and loss account
 22 
10,471,759
9,689,518

Equity attributable to owners of the parent Company
  
10,707,339
9,925,098


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 January 2025.




N J Highcroft
Director

The notes on pages 19 to 39 form part of these financial statements.


- 11 -



 
TRANSAM TRUCKING LIMITED
REGISTERED NUMBER:01305163


COMPANY BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 12 
6,618,310
6,489,224

Investments
 13 
706,915
684,096

  
7,325,225
7,173,320

Current assets
  

Stocks
 14 
137,620
191,475

Debtors: amounts falling due within one year
 15 
13,493,893
7,412,661

Current asset investments
 16 
1,603,371
1,753,034

Cash at bank and in hand
 17 
5,482,115
9,564,994

  
20,716,999
18,922,164

Creditors: amounts falling due within one year
 18 
(14,308,945)
(12,794,311)

Net current assets
  
 
 
6,408,054
 
 
6,127,853

Total assets less current liabilities
  
13,733,279
13,301,173

  

Creditors: amounts falling due after more than one year
 19 
(2,084,393)
(2,437,543)

Provisions for liabilities
  

Deferred taxation
 20 
(946,321)
(817,926)

  
 
 
(946,321)
 
 
(817,926)

Net assets
  
10,702,565
10,045,704


- 12 -



 
TRANSAM TRUCKING LIMITED
REGISTERED NUMBER:01305163

    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

2024
2023
Note
£
£


Capital and reserves
  

Called up share capital 
 21 
85,344
85,344

Share premium account
 22 
150,236
150,236

Profit and loss account brought forward
  
9,810,124
6,474,413

Profit for the year

  

656,861
3,335,711

Profit and loss account carried forward
  
10,466,985
9,810,124

  
10,702,565
10,045,704


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 January 2025.


N J Highcroft
Director

The notes on pages 19 to 39 form part of these financial statements.


- 13 -



 
TRANSAM TRUCKING LIMITED
 


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Share premium account
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£
£


At 1 July 2022
85,344
150,236
6,309,488
6,545,068
6,545,068


Comprehensive income for the year

Profit for the year
-
-
3,425,256
3,425,256
3,425,256

Currency translation differences
-
-
(45,226)
(45,226)
(45,226)
Total comprehensive income for the year
-
-
3,380,030
3,380,030
3,380,030



At 1 July 2023
85,344
150,236
9,689,518
9,925,098
9,925,098


Comprehensive income for the year

Profit for the year
-
-
847,523
847,523
847,523

Currency translation differences
-
-
(65,282)
(65,282)
(65,282)
Total comprehensive income for the year
-
-
782,241
782,241
782,241


At 30 June 2024
85,344
150,236
10,471,759
10,707,339
10,707,339


The notes on pages 19 to 39 form part of these financial statements.


- 14 -



 
TRANSAM TRUCKING LIMITED
 


COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 July 2022
85,344
150,236
6,474,413
6,709,993


Comprehensive income for the year

Profit for the year
-
-
3,335,711
3,335,711
Total comprehensive income for the year
-
-
3,335,711
3,335,711



At 1 July 2023
85,344
150,236
9,810,124
10,045,704


Comprehensive income for the period

Profit for the year
-
-
656,861
656,861
Total comprehensive income for the year
-
-
656,861
656,861


At 30 June 2024
85,344
150,236
10,466,985
10,702,565


The notes on pages 19 to 39 form part of these financial statements.


- 15 -



 
TRANSAM TRUCKING LIMITED
 


CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
847,523
3,425,256

Adjustments for:

Depreciation of tangible assets
3,238,180
2,517,492

Impairment of unlisted and other investments
26,531
-

Profit on disposal of tangible assets
(39,844)
(29,228)

Loss/(profit) on disposal of unlisted and other investments
25,575
(51,305)

Interest paid
387,179
173,026

Interest received
(142,597)
(39,470)

Taxation charge
286,245
896,835

Decrease in stocks
43,749
13,410

Increase in debtors
(2,189,010)
(581,472)

Increase in creditors
1,042,499
3,120,003

Corporation tax received
-
403,562

Corporation tax paid
(72,968)
(323,530)

Foreign exchange
(65,282)
(45,226)

Net cash generated from operating activities

3,387,780
9,479,353


Cash flows from investing activities

Purchase of tangible fixed assets
(141,356)
(1,284,910)

Sale of tangible fixed assets
94,498
59,077

Purchase of unlisted and other investments
(117,185)
(326,793)

Sale of unlisted and other investments
154,513
535,986

Purchase of other fixed asset investments
(35,532)
-

Interest received
142,597
39,470

HP interest paid
(370,500)
(115,294)

Net cash from investing activities

(272,965)
(1,092,464)

- 16 -



 
TRANSAM TRUCKING LIMITED
 


CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024


2024
2023

£
£



Cash flows from financing activities

Repayment of loans
-
(874,915)

Repayment of finance leases
(3,181,945)
(1,132,069)

New loan to parent undertaking (see note 28)
(3,567,542)
-

Interest paid
(16,679)
(57,732)

Net cash used in financing activities
(6,766,166)
(2,064,716)

Net (decrease)/increase in cash and cash equivalents
(3,651,351)
6,322,173

Cash and cash equivalents at beginning of year
9,700,173
3,378,000

Cash and cash equivalents at the end of year
6,048,822
9,700,173


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
6,048,822
9,700,173

6,048,822
9,700,173


The notes on pages 19 to 39 form part of these financial statements.


- 17 -



 
TRANSAM TRUCKING LIMITED
 


CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 JUNE 2024





At 1 July 2023
Cash flows
New finance leases
At 30 June 2024
£

£

£

£

Cash at bank and in hand

9,700,173

(3,651,351)

-

6,048,822

Debt due within 1 year

(389,450)

(85,519)

-

(474,969)

Finance leases

(5,151,217)

3,181,945

(5,160,334)

(7,129,606)


4,159,506
(554,925)
(5,160,334)
(1,555,753)

The notes on pages 19 to 39 form part of these financial statements.


- 18 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Transam Trucking Limited is a private company incorporated in England and Wales and limited by shares. The registered office is 7 Trinity Street, Bungay, Suffolk, NR35 1EH.
The principal activity of the company and group during the year continued to be the provision and management of transport services to the music and entertainment industry.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

Detailed profit and cash flow forecasts support the Directors' opinion that the Group will be in a position to generate cash sufficient to meet its liabilities as they fall due and to continue in operation for at least 12 months from approval of the financial statements. On this basis, the going concern basis has been adopted for the preparation of the financial statements.


- 19 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.


- 20 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Operating leases: Lessee

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

 
2.7

Leased assets: Lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.


- 21 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.10

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



- 22 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a straight line or on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
10% on cost
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15-20% reducing balance and 33.3% on cost
Computer equipment
-
33.3% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Valuation of investments

Investments held as fixed assets and current assets are shown at cost less provision for impairment.

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.


- 23 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.16

Creditors

Short term creditors are measure at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


- 24 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.17

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


- 25 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the directors have had to make the following judgments:
Investments
Wine en primeur is held in fixed asset investments given that the company does not actively trade in this area and it is held with the view that it will appreciate in value.
Wine held in bond which the company is looking to sell is held in current asset investments where it is likely to be sold in the foreseeable future.
Freehold property
The freehold property is value at historical cost rather than at valuation. This is on the basis that it is held for long term use as part of the business.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Transport income
19,063,354
26,455,106

Wine income
168,656
164,104

19,232,010
26,619,210


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
4,666,751
7,888,718

Rest of the world
14,565,259
18,730,492

19,232,010
26,619,210



- 26 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Other operating income

2024
2023
£
£

Other operating income
147,772
63,161

Net rents receivable
-
1,000

Sundry income
51,535
9,445

199,307
73,606



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
3,238,180
2,517,492

Exchange differences
(18,489)
41,136

Defined contribution pension cost
61,718
188,436


7.


Auditor's remuneration

During the year, the Group obtained the following services from the Company's auditor:


2024
2023
£
£

Fees payable to the Company's auditor for the audit of the consolidated and parent Company's financial statements
24,500
21,500


- 27 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Employees

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


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
4,158,688
5,948,188
4,046,906
5,853,122

Social security costs
385,236
644,973
385,236
644,973

Cost of defined contribution scheme
61,718
188,436
61,718
188,436

4,605,642
6,781,597
4,493,860
6,686,531


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Transport staff
65
70
65
70



Office and management staff
34
33
32
31

99
103
97
101


9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
386,500
1,333,633

Group contributions to defined contribution pension schemes
2,642
2,642

389,142
1,336,275


During the year retirement benefits were accruing to 2 directors (2023 - 2) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £141,630 (2023 - £455,085).

The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £1,321 (2023 - £NIL).

The directors' remuneration equates to key management personnel compensation. There are no
members of key management other than directors.


- 28 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
-
18

Other loan interest payable
16,679
57,714

Finance leases and hire purchase contracts
370,500
115,294

387,179
173,026


11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
157,850
69,260

Adjustments in respect of previous periods
-
474


157,850
69,734


Total current tax
157,850
69,734

Deferred tax


Origination and reversal of timing differences
128,395
891,801

Total deferred tax
128,395
891,801


Tax on profit
286,245
961,535

- 29 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,133,768
4,386,791


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
283,442
833,490

Effects of:


Assets not qualifying for capital allowances
28,101
25,340

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
22,368
11,204

Non-taxable income
(47,641)
(27,195)

Other differences leading to an increase (decrease) in the tax charge
(25)
10,182

Marginal relief
-
137

Increase in tax rate
-
108,377

Total tax charge for the year
286,245
961,535


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


- 30 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Tangible fixed assets

Group






Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
3,404,503
18,187,931
422,977
31,412
22,046,823


Additions
28,963
5,252,585
20,142
-
5,301,690


Disposals
-
(1,084,611)
(50,271)
-
(1,134,882)



At 30 June 2024

3,433,466
22,355,905
392,848
31,412
26,213,631



Depreciation


At 1 July 2023
1,231,166
11,647,031
354,307
31,411
13,263,915


Charge for the year on owned assets
215,559
3,006,064
16,557
-
3,238,180


Disposals
-
(1,013,732)
(50,271)
-
(1,064,003)



At 30 June 2024

1,446,725
13,639,363
320,593
31,411
15,438,092



Net book value



At 30 June 2024
1,986,741
8,716,542
72,255
1
10,775,539



At 30 June 2023
2,173,337
6,540,900
68,670
1
8,782,908

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
7,252,503
5,107,006


- 31 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

           12.Tangible fixed assets (continued)


Company






Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£

Cost or valuation


At 1 July 2023
3,404,503
11,862,445
422,977
31,412
15,721,337


Additions
28,963
1,909,061
20,142
-
1,958,166


Disposals
-
(1,084,611)
(50,271)
-
(1,134,882)



At 30 June 2024

3,433,466
12,686,895
392,848
31,412
16,544,621



Depreciation


At 1 July 2023
1,231,166
7,615,229
354,307
31,411
9,232,113


Charge for the year on owned assets
215,559
1,526,085
16,557
-
1,758,201


Disposals
-
(1,013,732)
(50,271)
-
(1,064,003)



At 30 June 2024

1,446,725
8,127,582
320,593
31,411
9,926,311



Net book value



At 30 June 2024
1,986,741
4,559,313
72,255
1
6,618,310



At 30 June 2023
2,173,337
4,247,216
68,670
1
6,489,224






The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
3,803,087
3,368,452


- 32 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

13.


Fixed asset investments

Group





Other fixed asset investments

£



Cost or valuation


At 1 July 2023
12,613


Additions
35,532


Transfer between classes
(12,613)



At 30 June 2024
35,532




Company





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 July 2023
671,483
12,613
684,096


Additions
-
35,532
35,532


Disposals
(100)
-
(100)


Transfer between classes
-
(12,613)
(12,613)



At 30 June 2024
671,383
35,532
706,915





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

Transam Trucking International Limited - incorporated in the Republic of Ireland
Ordinary
100%
Transam Trucking BV - incorporated in the Netherlands
Ordinary
100%
Tour Transport Limited - incorporated in the Republic of Ireland
Ordinary
100%


- 33 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

14.


Stocks

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Finished goods and goods for resale
137,620
191,475
137,620
191,475

137,620
191,475
137,620
191,475



15.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
8,185,232
4,600,360
8,185,232
4,600,360

Amounts owed by subsidiary undertakings
-
-
673,462
693,897

Amounts owed by parent undertaking (see note 28)
3,567,542
-
3,567,542
-

Other debtors
67,918
893,306
16,134
597,071

Prepayments and accrued income
1,116,750
1,687,224
1,051,523
1,521,333

12,937,442
7,180,890
13,493,893
7,412,661



16.


Current asset investments

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Unlisted investments
1,603,371
1,753,034
1,603,371
1,753,034

1,603,371
1,753,034
1,603,371
1,753,034



17.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
6,048,822
9,700,173
5,482,115
9,564,994

6,048,822
9,700,173
5,482,115
9,564,994



- 34 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

18.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
3,427,052
3,316,240
3,050,837
3,175,396

Amounts owed to group undertakings
-
-
226,773
-

Corporation tax
158,908
74,026
157,850
69,260

Other taxation and social security
401,168
389,067
393,190
387,056

Obligations under finance lease and hire purchase contracts
3,247,797
1,918,593
1,862,960
1,300,615

Other creditors
1,189,145
1,934,909
1,147,277
1,916,982

Accruals and deferred income
7,578,787
6,012,610
7,470,058
5,945,002

16,002,857
13,645,445
14,308,945
12,794,311



The following liabilities were secured:
Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Obligations under finance lease and hire purchase contracts
3,247,797
1,918,593
1,862,960
1,300,615

3,247,797
1,918,593
1,862,960
1,300,615

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured on the individual assets to which they relate.


- 35 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

19.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Net obligations under finance leases and hire purchase contracts
3,881,809
3,232,624
2,084,393
2,437,543

3,881,809
3,232,624
2,084,393
2,437,543



The following liabilities were secured:
Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Obligations under finance lease and hire purchase contracts
3,881,809
3,232,624
2,084,393
2,437,543

3,881,809
3,232,624
2,084,393
2,437,543

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured on the individual assets to which they relate.




- 36 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

20.


Deferred taxation


Group



2024


£






At beginning of period
(817,926)


Charged to profit or loss
(128,395)



At end of period
(946,321)

Company


2024


£






At beginning of period
(817,926)


Charged to profit or loss
(128,395)



At end of period
(946,321)

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Accelerated capital allowances
(946,321)
(817,926)
(946,321)
(817,926)

(946,321)
(817,926)
(946,321)
(817,926)


- 37 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

21.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



42,667 (2023 - 42,667) A Ordinary shares of £1.00 each
42,667
42,667
42,667 (2023 - 42,667) B Ordinary shares of £1.00 each
42,667
42,667
10 (2023 - 10) C Ordinary shares of £1.00 each
10
10

85,344

85,344

All shares rank pari passu in all respects.



22.


Reserves

Share premium account

The share premium account is a non-distributable reserve arising on the amount paid on shares in excess of their nominal values.

Profit and loss account

The profit and loss account represents the Group's accumulated profits which are available for distribution to shareholders and foreign exchange movements on retranslation of overseas subsidiaries.


23.


Capital commitments




At 30 June 2024 the Group and Company had capital commitments as follows:


Group
Group
2024
2023
£
£

Contracted for but not provided in these financial statements
-
3,238,802


24.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £58,806 (2023 - £188,436). Contributions totalling £28,858 (2023 - £23,629) were payable to the fund at the balance sheet date.


- 38 -



 
TRANSAM TRUCKING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

25.


Commitments under operating leases

The Group and the Company had no commitments under non-cancellable operating leases at the balance sheet date.


26.Financial guarantees

During the period Transam Trucking Limited provided financial guarantees to its subsidiary, Transam Trucking BV. These were in respect of hire purchase agreements and receivables balances in relation to payment cards issued to the company.
On 21 June 2024 Transam Trucking Limited signed a legal mortgage which secures £6,500,000 of interest free loan notes issued by Transam Trucking Holdings Limited against the freehold property included in note 18.


27.


Related party transactions

As at 30 June 2024 the group owed £188,233 to A M Guterres (2023 - £12,687).  As at 30 June 2024 the group owed S J Flatt £286,736 (2023 -  £376,763). As at 30 June 2024 the group owed N J Highcroft £95,896 (2023 -  £NIL).These loans are interest free.
Mr A M Guterres' loan account was overdrawn at certain points in the period, the maximum amount owed being £NIL (2023 - £121,812). 
The group paid rent of £29,625 (2023 - £23,300) to S J Flatt in relation to the use of the office located at Bungay.
The group employed four (2023 - four) members of the director's close family who provided services to the group. Their remuneration totalled £41,563 (2023 - £90,074) and the total pension contributions paid by the group in respect of these employees were £567 (2023 - £1,577). 
The group sold wine to A M Guterres in the period totalling £94,390 (2023 - £15,969) which was charged to the director's loan account. The group purchased wine from A M Guterres in the period totalling £NIL (2023 - £107) this was set against the director's loan account. The group sold a motor vehicle to A M Guterres in the period for £16,225 (2023 - £NIL) this was set against the director's loan account.
The group sold wine to S J Flatt in the period totalling £10,680 (2023 - £9,849) which was charged to the director's loan account.


28.


Controlling party

The company and group was under the control of A M Guterres and S J Flatt until 21 June 2024. Transam Trucking Holdings Limited became the immediate controlling party on 21 June 2024. Transam Trucking Holdings Limited is controlled by N J Highcroft, who is the ultimate controlling party. 
Transam Trucking Holdings Limited was incorporated on 23 February 2024. Its first period consolidated financial statements, which will include the results of the company, will be for the period ending 30 June 2025. Therefore, the company is not exempt from preparing consolidated financial statements for the year ended 30 June 2024.


- 39 -