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REGISTERED NUMBER: 04104838 (England and Wales)














Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 June 2024

for

N.J. Docksey Limited

N.J. Docksey Limited (Registered number: 04104838)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Profit and Loss Account 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


N.J. Docksey Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr N J Docksey
Mrs L B Docksey
Mr C J Docksey





SECRETARY: Mrs L B Docksey





REGISTERED OFFICE: Leekbrook Depot Cheadle Road
Leekbrook
Leek
Staffordshire
ST13 7DR





REGISTERED NUMBER: 04104838 (England and Wales)





AUDITORS: Thompson Wright Limited
Chartered Accountants
and Statutory Auditors
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

N.J. Docksey Limited (Registered number: 04104838)

Strategic Report
for the Year Ended 30 June 2024

The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
Throughout the year, the company has continued to concentrate on the core business of supplying bulk powders in the construction industry via their fleet of lorries. Whilst the main office is based in Leek, Staffordshire, the company supplies to sites nationwide.

The results as shown on page 9, show that turnover has increased by 1.2%. As with other operators in the industry, the company has seen increasing fuel and wage costs. The company has been able to pass on some of these costs, it has had to absorb some of the increases, resulting in a 0.5% increase in gross profit margin.

KEY PERFORMANCE INDICATORS
As in previous years, the management consider the key indicators to be;

2024 2023
Turnover growth 1.2% 21.0%
Gross profit 13.6% 13.1%
Net profit 8.9% 9.2%

It is the responsibility of the commercial team to regularly monitor and review these figures and report the results and any corrective actions to the board.

PRINCIPAL RISKS AND UNCERTAINTIES
There are certain risks, which could materially and adversely impact the company's results compared to expectation. A summary of the key risks is set out below. This is not an exhaustive list of the factors that could adversely impact company profitability.

Financial Instruments
The company uses various financial instruments; these include cash and various items, such as trade debtors and trade creditors, that arise directly from its operations.

The existence of these financial instruments exposes the company to several financial risks which are described in more detail below.

The main risks arising from the group's financial instruments are categorised as market risk, credit risk and liquidity risk. The directors review and agree policies for managing these risks and they are summarised below.

Financial Risk
The company's policy throughout the year has been to try and maintain liquid funds at the bank to avoid incurring interest charges. Where the company has to undertake short term borrowings it is the company's policy to minimise the amount of borrowings at floating rates of interest.

The maturity of the borrowings is set out on note 16 to the financial statements.

Market Risk
To minimise market risk, the operations team constantly monitor fuel prices and competitor prices to ensure that they can offer competitive prices.

Credit Risk
The principal credit risk arises from the trade debtors.

In order to manage credit risk, the directors set limits for its customers based on a combination of payment history and credit references. Credit limits are reviewed by the credit controller on a regular basis in conjunction with debt ageing and collection history.

Liquidity Risk
The business has a very strong relationship with its bank. The company has the facilities available to meet its needs on an ongoing basis. These facilities are reviewed on a regular basis, by both the bank and the management, and are in accordance with the needs of the group.


N.J. Docksey Limited (Registered number: 04104838)

Strategic Report
for the Year Ended 30 June 2024

FUTURE DEVELOPMENTS
The directors continually monitor the services the company provides to maintain a strong position in the market place.

The directors have a policy in investing in the company's operating fleet, renewing older vehicles as and when necessary to allow the company to continue to deliver the best service at the best value.

ON BEHALF OF THE BOARD:





Mr C J Docksey - Director


7 February 2025

N.J. Docksey Limited (Registered number: 04104838)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £ 108,222 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mr N J Docksey
Mrs L B Docksey
Mr C J Docksey

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with section 414(c) of the Companies Act 2006 (Strategic and Directors Report) Regulations 2013 to set out in the company's Strategic report information required by schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) regulations 2008.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 "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 of the profit or loss of the company for that period. In preparing the financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- state whether applicable United Kingdom Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;
- make judgements and accounting estimates that are reasonable and prudent; and
- 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's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.

The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

AUDITORS
The auditors, Thompson Wright Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr C J Docksey - Director


7 February 2025

Report of the Independent Auditors to the Members of
N.J. Docksey Limited

Opinion
We have audited the financial statements of N.J. Docksey Limited (the 'company') for the year ended 30 June 2024 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the 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 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
N.J. Docksey Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
N.J. Docksey Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the Senior Statutory Auditor ensured that the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the haulage of materials sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental consumer rights act, other industry specific accreditations and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Report of the Independent Auditors to the Members of
N.J. Docksey Limited


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

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jeremy Bostock BA(Hons) BFP FCA (Senior Statutory Auditor)
for and on behalf of Thompson Wright Limited
Chartered Accountants
and Statutory Auditors
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

7 February 2025

N.J. Docksey Limited (Registered number: 04104838)

Profit and Loss Account
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 3 8,641,999 8,541,854

Cost of sales 7,465,063 7,423,208
GROSS PROFIT 1,176,936 1,118,646

Administrative expenses 323,806 257,064
853,130 861,582

Other operating income 23,446 23,367
OPERATING PROFIT 6 876,576 884,949

Interest receivable and similar income 2,146 169
878,722 885,118

Interest payable and similar expenses 7 114,728 99,529
PROFIT BEFORE TAXATION 763,994 785,589

Tax on profit 8 205,144 315,001
PROFIT FOR THE FINANCIAL YEAR 558,850 470,588

N.J. Docksey Limited (Registered number: 04104838)

Other Comprehensive Income
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 558,850 470,588


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 558,850 470,588

N.J. Docksey Limited (Registered number: 04104838)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 6,038,339 5,114,488
6,038,339 5,114,488

CURRENT ASSETS
Stocks 12 216,140 222,515
Debtors 13 1,903,155 2,057,827
Cash at bank and in hand 208,269 127,236
2,327,564 2,407,578
CREDITORS
Amounts falling due within one year 14 2,287,976 2,434,919
NET CURRENT ASSETS/(LIABILITIES) 39,588 (27,341 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,077,927 5,087,147

CREDITORS
Amounts falling due after more than one year 15 (1,709,075 ) (1,374,067 )

PROVISIONS FOR LIABILITIES 19 (1,089,133 ) (883,989 )
NET ASSETS 3,279,719 2,829,091

CAPITAL AND RESERVES
Called up share capital 20 2 2
Retained earnings 21 3,279,717 2,829,089
SHAREHOLDERS' FUNDS 3,279,719 2,829,091

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:





Mr C J Docksey - Director


N.J. Docksey Limited (Registered number: 04104838)

Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 2 2,622,201 2,622,203

Changes in equity
Dividends - (263,700 ) (263,700 )
Total comprehensive income - 470,588 470,588
Balance at 30 June 2023 2 2,829,089 2,829,091

Changes in equity
Dividends - (108,222 ) (108,222 )
Total comprehensive income - 558,850 558,850
Balance at 30 June 2024 2 3,279,717 3,279,719

N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

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

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


2. ACCOUNTING POLICIES

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

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved and therefore the financial statements have been prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions
The 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":

the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 4 'Statement of Financial Position' - Reconciliation of the opening and closing number of;
the requirement of paragraph 33.7.

The financial statements of the company are consolidated in the financial statements of Docksey Transport Holdings Limited. These consolidated financial statements are available from its registered office, Leekbrook Depot Cheadle Road, Leekbrook, Leek, Staffordshire, ST13 7DR.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of financial statements in conformity with generally accepted principles requires the directors to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Some of these estimates and judgements are inherently uncertain and subject to change. The impact of any change in accounting estimates is reflected in the period in which the estimate is revised, if the revision only affects the period, or in the period of the revision and future periods if the revision affects both current and future periods. In this respect the directors believe that the critical accounting policies where judgements or estimations are necessarily applied are as follows.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax and derived within the United Kingdom.

Turnover is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Impairment of debtors

Management perform ongoing reviews of the recoverability of debtor balances, An allowance for doubtful debts is maintained for potential credit losses based on management's assessment of the expected collectability of amounts receivable. The allowance for bad debts is reviewed periodically to assess the adequacy of the allowance

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. These businesses were purchased in 2002, with the goodwill on purchase being initially recognised at cost and subsequently recognised at cost less accumulated amortisation and impairment losses. This goodwill has now been fully amortised.

N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 2% on cost
Plant and machinery - 10% on cost
Motor vehicles - 10% on cost
Computer equipment - 25% on cost

Depreciation is calculated at the headline annual rate, but is charged within the accounts on a monthly basis.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimates of useful economic lives and residual value of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, of economic utilisation of the assets.

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

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as creditors due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

Current or deferred taxation assets and liabilities are not discounted.

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


N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice discounting
The company operates an invoice discounting facility. In accordance with FRS 102 the company has adopted the separate presentation approach with trade debtors and the amounts advanced against those trade debtors shown in debtors and creditors respectively.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 8,641,999 8,541,854
8,641,999 8,541,854

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,622,826 2,492,401
Social security costs 270,657 261,256
Other pension costs 58,740 55,612
2,952,223 2,809,269

The average number of employees during the year was as follows:
2024 2023

Directors 3 3
Cost of Sales staff 57 61
60 64

N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Directors' remuneration 39,855 33,157

The number of directors to whom retirement benefits were accruing were as follows:

2024 2023
£ £
Money purchase schemes 1 1
Key Management Compensation

The company has taken advantage of the exemption under paragraph 1.12(e), from disclosing key management compensation, on the basis that it is a qualifying entity and its ultimate parent company Docksey Transport Holdings Limited, includes the company's key management compensation in its consolidated financial statements.

6. OPERATING PROFIT

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

2024 2023
£    £   
Hire of plant and machinery 3,243 5,433
Contract haulage 76,723 33,636
Depreciation - owned assets 405,572 393,033
Depreciation - assets on hire purchase contracts 500,900 437,936
Profit on disposal of fixed assets (79,980 ) (39,505 )
Auditors' remuneration 13,450 12,500

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 491 8,220
Bank loan interest 13,814 14,125
Hire purchase 100,423 77,184
114,728 99,529

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Deferred tax 205,144 315,001
Tax on profit 205,144 315,001

N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 763,994 785,589
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
25%)

190,999

196,397

Effects of:
Expenses not deductible for tax purposes 1,268 134
Depreciation in excess of capital allowances 95,906 142,589
Utilisation of tax losses (83,029 ) (24,119 )
Total tax charge 205,144 315,001

9. DIVIDENDS
2024 2023
£    £   
Interim 108,222 263,700

10. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 50,000
AMORTISATION
At 1 July 2023
and 30 June 2024 50,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 129,258 177,284 9,091,297 28,671 9,426,510
Additions - 47,161 1,857,580 2,377 1,907,118
Disposals - (1,500 ) (622,061 ) - (623,561 )
At 30 June 2024 129,258 222,945 10,326,816 31,048 10,710,067
DEPRECIATION
At 1 July 2023 33,393 82,786 4,171,377 24,466 4,312,022
Charge for year 2,585 19,692 881,473 2,722 906,472
Eliminated on disposal - (1,500 ) (545,266 ) - (546,766 )
At 30 June 2024 35,978 100,978 4,507,584 27,188 4,671,728
NET BOOK VALUE
At 30 June 2024 93,280 121,967 5,819,232 3,860 6,038,339
At 30 June 2023 95,865 94,498 4,919,920 4,205 5,114,488

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 3,960,467
Additions 1,813,580
Transfer to ownership (673,645 )
At 30 June 2024 5,100,402
DEPRECIATION
At 1 July 2023 697,318
Charge for year 500,900
Transfer to ownership (287,843 )
At 30 June 2024 910,375
NET BOOK VALUE
At 30 June 2024 4,190,027
At 30 June 2023 3,263,149

12. STOCKS
2024 2023
£    £   
Stocks 216,140 222,515

N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,611,710 1,795,043
Other debtors - 24,000
Factoring account 20,037 -
Prepayments 271,408 238,784
1,903,155 2,057,827

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 16) 70,000 70,000
Hire purchase contracts (see note 17) 1,045,294 893,666
Trade creditors 525,690 611,623
Amounts owed to group undertakings 267,242 148,322
Social security and other taxes 58,304 67,902
VAT 183,926 264,850
Other creditors 434 438
Factoring accounts - 283,749
Accrued expenses 137,086 94,369
2,287,976 2,434,919

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 16) 64,238 134,275
Hire purchase contracts (see note 17) 1,526,593 1,071,783
Directors' loan accounts 118,244 168,009
1,709,075 1,374,067

16. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 70,000 70,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 64,238 70,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 64,275

N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

17. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 1,045,294 893,666
Between one and five years 1,526,593 1,071,783
2,571,887 1,965,449

Leasing Agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Due within one year 50,800 50,800
Due between one and five years 137,800 159,600
Due in more than five years 14,500 43,500
203,100 253,900




18. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 134,238 204,275
Hire purchase contracts 2,571,887 1,965,449
Factoring account - 283,749
2,706,125 2,453,473

Bank loans represents a CBILS facility drawn down on by the company in September 2020. The security on this loan is in accordance with the guidance given by the British Business Bank.

Hire purchase contracts are secured over the assets to which they relate.

The Factoring account is an amount which is secured by a fixed charge on the book debts of the company.

The group has entered into a multilateral guarantee with Barclays Plc as follows:

- A group guarantee and debentures consisting of fixed and floating charged over all the assets and undertaking of the reporting entity, N J Docksey Limited and Docksey Transport Holdings Limited.

- A charge over contract monies from the reporting entity

- A general pledge over documents and goods from the reporting entity

- A joint and several guarantee limited to £50,000 provided by directors Mr Nigel John Docksey and Mrs Linda Barbara Docksey.

N.J. Docksey Limited (Registered number: 04104838)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,374,641 1,079,336
Tax losses carried forward (285,508 ) (195,347 )
1,089,133 883,989

Deferred
tax
£   
Balance at 1 July 2023 883,989
Provided during year 205,144
Balance at 30 June 2024 1,089,133

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

21. RESERVES
Retained
earnings
£   

At 1 July 2023 2,829,089
Profit for the year 558,850
Dividends (108,222 )
At 30 June 2024 3,279,717

22. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 477,930 900,344

At the balance sheet date, capital commitments of £477,930 were entered into by the company.

23. OTHER FINANCIAL COMMITMENTS

Pension Commitments

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge in respect of contributions to the fund amounts to £58,740 (2023 £55,612).

24. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party is Docksey Transport Holdings Limited. The registered office for this company is Leekbrook Depot, Cheadle Road, Leekbrook, Leek, Staffordshire, ST13 7DR.