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REGISTERED NUMBER: 11620100 (England and Wales)














Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 30 June 2024

for

Docksey Transport Holdings Limited

Docksey Transport Holdings Limited (Registered number: 11620100)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Profit and Loss Account 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Docksey Transport Holdings Limited

Company Information
for the Year Ended 30 June 2024







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





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





REGISTERED NUMBER: 11620100 (England and Wales)





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

Docksey Transport Holdings Limited (Registered number: 11620100)

Group Strategic Report
for the Year Ended 30 June 2024

The directors present their strategic report of the company and the group 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 1% 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 17 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.


Docksey Transport Holdings Limited (Registered number: 11620100)

Group 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

Docksey Transport Holdings Limited (Registered number: 11620100)

Report of the Directors
for the Year Ended 30 June 2024

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

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of freight transportation.

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 group'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 group's auditors are aware of that information.

Docksey Transport Holdings Limited (Registered number: 11620100)

Report of the Directors
for the Year Ended 30 June 2024


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
Docksey Transport Holdings Limited

Opinion
We have audited the financial statements of Docksey Transport Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company 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 Auditors' 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Docksey Transport Holdings Limited


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 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 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.

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 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.

Report of the Independent Auditors to the Members of
Docksey Transport Holdings 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
Docksey Transport Holdings 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

Docksey Transport Holdings Limited (Registered number: 11620100)

Consolidated 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 293,217 244,699
883,719 873,947

Other operating income 47,842 50,187
OPERATING PROFIT 5 931,561 924,134

Interest receivable and similar income 2,146 169
933,707 924,303

Interest payable and similar expenses 6 120,786 106,559
PROFIT BEFORE TAXATION 812,921 817,744

Tax on profit 7 205,144 315,001
PROFIT FOR THE FINANCIAL YEAR 607,777 502,743

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 607,777 502,743

Profit attributable to:
Owners of the parent 607,777 502,743

Total comprehensive income attributable to:
Owners of the parent 607,777 502,743

Docksey Transport Holdings Limited (Registered number: 11620100)

Consolidated Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 7,205,282 6,281,431
Investments 12 - -
Investment property 13 - -
7,205,282 6,281,431

CURRENT ASSETS
Stocks 14 216,140 222,515
Debtors 15 1,904,915 2,059,939
Cash at bank and in hand 251,262 158,232
2,372,317 2,440,686
CREDITORS
Amounts falling due within one year 16 2,093,320 2,350,036
NET CURRENT ASSETS 278,997 90,650
TOTAL ASSETS LESS CURRENT LIABILITIES 7,484,279 6,372,081

CREDITORS
Amounts falling due after more than one year 17 (2,511,457 ) (2,103,958 )

PROVISIONS FOR LIABILITIES 21 (1,089,133 ) (883,989 )
NET ASSETS 3,883,689 3,384,134

CAPITAL AND RESERVES
Called up share capital 22 100 100
Retained earnings 23 3,883,589 3,384,034
SHAREHOLDERS' FUNDS 3,883,689 3,384,134

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


Docksey Transport Holdings Limited (Registered number: 11620100)

Company Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 2 2
Investment property 13 1,166,942 1,166,942
1,166,944 1,166,944

CURRENT ASSETS
Debtors 15 269,002 150,434
Cash at bank 42,993 30,997
311,995 181,431
CREDITORS
Amounts falling due within one year 16 72,584 63,438
NET CURRENT ASSETS 239,411 117,993
TOTAL ASSETS LESS CURRENT LIABILITIES 1,406,355 1,284,937

CREDITORS
Amounts falling due after more than one year 17 802,382 729,891
NET ASSETS 603,973 555,046

CAPITAL AND RESERVES
Called up share capital 22 100 100
Retained earnings 603,873 554,946
SHAREHOLDERS' FUNDS 603,973 555,046

Company's profit for the financial year 157,149 295,858

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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


Docksey Transport Holdings Limited (Registered number: 11620100)

Consolidated 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 100 2,994,991 2,995,091

Changes in equity
Dividends - (113,700 ) (113,700 )
Total comprehensive income - 502,743 502,743
Balance at 30 June 2023 100 3,384,034 3,384,134

Changes in equity
Dividends - (108,222 ) (108,222 )
Total comprehensive income - 607,777 607,777
Balance at 30 June 2024 100 3,883,589 3,883,689

Docksey Transport Holdings Limited (Registered number: 11620100)

Company 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 100 372,788 372,888

Changes in equity
Dividends - (113,700 ) (113,700 )
Total comprehensive income - 295,858 295,858
Balance at 30 June 2023 100 554,946 555,046

Changes in equity
Dividends - (108,222 ) (108,222 )
Total comprehensive income - 157,149 157,149
Balance at 30 June 2024 100 603,873 603,973

Docksey Transport Holdings Limited (Registered number: 11620100)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,509,983 1,416,997
Interest paid (20,363 ) (29,375 )
Interest element of hire purchase payments paid (100,423 ) (77,184 )
Net cash from operating activities 1,389,197 1,310,438

Cash flows from investing activities
Purchase of tangible fixed assets (93,538 ) (41,897 )
Sale of tangible fixed assets 156,775 52,705
Interest received 2,146 169
Net cash from investing activities 65,383 10,977

Cash flows from financing activities
Loan repayments in year (101,143 ) (100,078 )
Capital repayments in year (1,207,142 ) (1,143,874 )
Amount introduced by directors 108,222 110,200
Amount withdrawn by directors (53,265 ) (20,395 )
Equity dividends paid (108,222 ) (113,700 )
Net cash from financing activities (1,361,550 ) (1,267,847 )

Increase in cash and cash equivalents 93,030 53,568
Cash and cash equivalents at beginning of year 2 158,232 104,664

Cash and cash equivalents at end of year 2 251,262 158,232

Docksey Transport Holdings Limited (Registered number: 11620100)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

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

2024 2023
£    £   
Profit before taxation 812,921 817,744
Depreciation charges 906,472 830,968
Profit on disposal of fixed assets (79,980 ) (39,505 )
Finance costs 120,786 106,559
Finance income (2,146 ) (169 )
1,758,053 1,715,597
Decrease/(increase) in stocks 6,375 (2,819 )
Decrease/(increase) in trade and other debtors 155,024 (352,664 )
(Decrease)/increase in trade and other creditors (409,469 ) 56,883
Cash generated from operations 1,509,983 1,416,997

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 251,262 158,232
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 158,232 104,664


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.7.23 Cash flow changes At 30.6.24
£    £    £    £   
Net cash
Cash at bank
and in hand 158,232 93,030 251,262
158,232 93,030 251,262
Debt
Finance leases (1,965,449 ) 1,207,142 (1,813,580 ) (2,571,887 )
Debts falling due
within 1 year (100,939 ) 101,143 (102,268 ) (102,064 )
Debts falling due
after 1 year (305,907 ) - 102,268 (203,639 )
(2,372,295 ) 1,308,285 (1,813,580 ) (2,877,590 )
Total (2,214,063 ) 1,401,315 (1,813,580 ) (2,626,328 )

Docksey Transport Holdings Limited (Registered number: 11620100)

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

1. STATUTORY INFORMATION

Docksey Transport Holdings 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 General 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.

Basis of consolidation
The group accounts consolidate the accounts of the group and all its subsidiary at 30 June. All companies have coterminous year ends. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates
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.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Turnover is attributable to the principle activity of the company which is carried out entirely within the United Kingdom.

All turnover is derived from UK customers.

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 is measured at cost and has been amortised over its useful life.

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.

Docksey Transport Holdings Limited (Registered number: 11620100)

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

2. ACCOUNTING POLICIES - continued

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

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 group 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, 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 Consolidated 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.


Docksey Transport Holdings Limited (Registered number: 11620100)

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

3. TURNOVER

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

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

2024 2023
£    £   
Directors' remuneration 39,855 33,157

Docksey Transport Holdings Limited (Registered number: 11620100)

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

4. EMPLOYEES AND DIRECTORS - continued

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

Money purchase schemes 1 1

5. OPERATING PROFIT

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

2024 2023
£    £   
Hire of plant and machinery 3,243 5,433
Other operating leases 76,723 33,636
Depreciation - owned assets 405,572 393,032
Depreciation - assets on hire purchase contracts 500,900 437,936
Profit on disposal of fixed assets (79,980 ) (39,505 )
Auditors' remuneration 19,678 12,500

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 491 8,220
Bank loan interest 19,872 21,155
Hire purchase 100,423 77,184
120,786 106,559

7. 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

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 812,921 817,744
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 -
25 %)

203,230

204,436

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 (95,260 ) (32,158 )
Total tax charge 205,144 315,001

Docksey Transport Holdings Limited (Registered number: 11620100)

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

8. INDIVIDUAL PROFIT AND LOSS ACCOUNT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
A Ordinary shares of £1 each
Interim 34,105 35,880
B Ordinary shares of £1 each
Interim 36,100 36,982
C Ordinary shares of £1 each
Interim 38,017 40,838
108,222 113,700

10. INTANGIBLE FIXED ASSETS

Group
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 -

11. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 July 2023 1,166,942 129,258 177,284
Additions - - 47,161
Disposals - - (1,500 )
At 30 June 2024 1,166,942 129,258 222,945
DEPRECIATION
At 1 July 2023 - 33,392 82,786
Charge for year - 2,585 19,692
Eliminated on disposal - - (1,500 )
At 30 June 2024 - 35,977 100,978
NET BOOK VALUE
At 30 June 2024 1,166,942 93,281 121,967
At 30 June 2023 1,166,942 95,866 94,498

Docksey Transport Holdings Limited (Registered number: 11620100)

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

11. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 9,091,297 28,671 10,593,452
Additions 1,857,580 2,377 1,907,118
Disposals (622,061 ) - (623,561 )
At 30 June 2024 10,326,816 31,048 11,877,009
DEPRECIATION
At 1 July 2023 4,171,377 24,466 4,312,021
Charge for year 881,473 2,722 906,472
Eliminated on disposal (545,266 ) - (546,766 )
At 30 June 2024 4,507,584 27,188 4,671,727
NET BOOK VALUE
At 30 June 2024 5,819,232 3,860 7,205,282
At 30 June 2023 4,919,920 4,205 6,281,431

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

Docksey Transport Holdings Limited (Registered number: 11620100)

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

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 2
NET BOOK VALUE
At 30 June 2024 2
At 30 June 2023 2


he list of subsidiaries is as follows;

Name Registered office Nature of business Interest

N.J. Docksey Limited Leekbrook Depot Cheadle Road,
Leekbrook,Leek, Staffordshire,
ST13 7DR
Freight transport by road 100% ordinary
shares

Investment property is shown at cost.

13. INVESTMENT PROPERTY
Company
Total
£   
COST
At 1 July 2023
and 30 June 2024 1,166,942
NET BOOK VALUE
At 30 June 2024 1,166,942
At 30 June 2023 1,166,942

Investment properties have been recorded at cost. As at 30 June 2024, the director's believe this to be measured at the true fair value of the investment properties.

14. STOCKS

Group
2024 2023
£    £   
Stocks 216,140 222,515

Docksey Transport Holdings Limited (Registered number: 11620100)

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

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 1,611,710 1,795,043 - -
Amounts owed by group undertakings - - 267,242 148,322
Other debtors 20,037 24,000 - -
Prepayments 273,168 240,896 1,760 2,112
1,904,915 2,059,939 269,002 150,434

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 18) 102,062 100,937 32,062 30,938
Hire purchase contracts (see note 19) 1,045,294 893,666 - -
Trade creditors 525,691 611,625 - -
Social security and other taxes 58,304 67,902 - -
VAT 183,926 264,850 - -
Other creditors 435 438 - -
Factoring accounts - 283,749 - -
Directors' current accounts 30,000 30,000 30,000 30,000
Accrued expenses 147,608 96,869 10,522 2,500
2,093,320 2,350,036 72,584 63,438

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 18) 203,641 305,909 139,403 171,634
Hire purchase contracts (see note 19) 1,526,593 1,071,783 - -
Directors' loan accounts 781,223 726,266 662,979 558,257
2,511,457 2,103,958 802,382 729,891

18. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 102,062 100,937 32,062 30,938
Amounts falling due between one and two years:
Bank loans - 1-2 years 97,423 102,062 33,185 32,062
Amounts falling due between two and five years:
Bank loans - 2-5 years 106,218 203,847 106,218 139,572

Docksey Transport Holdings Limited (Registered number: 11620100)

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

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
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

Group
Non-cancellable operating leases
2024 2023
£    £   
Between one and five years - 34,350

As a Lessor

At the reporting date the Company had contracted with tenants for the following minimum lease
payments:

2024 2023
£    £   
Expiring within 1 year 24,396 24,396
24,396 24,396

Company
Non-cancellable operating leases
2024 2023
£    £   

Docksey Transport Holdings Limited (Registered number: 11620100)

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

20. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 305,703 406,846 171,465 202,572
Hire purchase contracts 2,571,887 1,965,449 - -
2,877,590 2,372,295 171,465 202,572

The hire purchase liability is secured over the assets financed.

Barclays Bank Plc have a debenture dated 22nd July 2008 which created a fixed and floating charge over all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery of N J Docksey Limited.

Barclays Bank PLC also created a fixed and floating charge dated 27th September 2012 over all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery of N J Docksey Limited.

Barclays Security Trustee Limited created a fixed and floating cross charge over N J Docksey Limited and Docksey Transport Holdings Limited.

On 18th July 2019, Barclays Security Trustees Limited created a fixed and floating charge over the property known as Unit 5 Leekbrook Way, Leek, Staffordshire, ST13 7AP, owned by Docksey Transport Holdings Limited.

On 25th March 2009, N J Docksey and Mrs L B Docksey gave a limited guarantee to Barclays Bank PLC of £50,000.

21. PROVISIONS FOR LIABILITIES

Group
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

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

Docksey Transport Holdings Limited (Registered number: 11620100)

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

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45 A Ordinary £1 45 45
45 B Ordinary £1 45 45
10 C Ordinary £1 10 10
100 100

23. RESERVES

Group
Retained
earnings
£   

At 1 July 2023 3,384,034
Profit for the year 607,777
Dividends (108,222 )
At 30 June 2024 3,883,589


24. 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.

25. OTHER FINANCIAL COMMITMENTS

Pension Commitments

The group operate 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).

26. RELATED PARTY DISCLOSURES

N J Docksey and Mrs L B Docksey provided a limited guarantee of £50,000 to Barclays Bank PLC dated 25th March 2009.

27. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N & Mrs L Docksey.