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REGISTERED NUMBER: 04144319 (England and Wales)









STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

IDS TRANSPORT (UK) LIMITED

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Profit and Loss Account 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 14


IDS TRANSPORT (UK) LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: D J Simms
C J Jones
S L Forbes-Lee





SECRETARY: D J Simms





REGISTERED OFFICE: 7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN





REGISTERED NUMBER: 04144319 (England and Wales)





AUDITORS: Kingscott Dix (Cheltenham) Limited
Statutory Auditor
Chartered Accountants
7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

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
The company operates across the UK, providing logistics expertise for chilled and general palletised distribution.

The directors are pleased to report a successful year with pre tax profits of £386,995 (2023 - £511,981). The results for the year and the financial position of the company at the end of the year are satisfactory in the opinion of the directors.

PRINCIPAL RISKS AND UNCERTAINTIES
Principal risks and uncertainties facing the company include the general difficult trading conditions the economy presents, in part due to the conflicts in Ukraine and Gaza, uncertainty in the employment market, and cost of living increases.

The company has a robust system of policies and procedures to ensure risks are recognised and mitigated. The directors monitor key risks on a regular basis and consider the company has limited exposure to price risk, credit risk, liquidity risk and cash flow risk.

KEY PERFORMANCE INDICATORS
Given the nature of the business, the directors are of the opinion that key performance indicators are important. The company uses a number of indicators to monitor and improve development and the performance of the business. Indicators are reviewed and altered to meet changes in the environment.

The directors do not consider the inclusion of an analysis using key performance indicators to be necessary to assist users of the financial statements in their understanding of the financial performance or position of the company.

FUTURE DEVELOPMENTS
The business continues to operate successfully, increasing its customer base and maintaining relationships with long-standing customers. The company has scope to further develop its premises to improve operational efficiencies. The company continues to invest in a fleet of high quality vehicles.

ON BEHALF OF THE BOARD:





D J Simms - Secretary


3 February 2025

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

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
An interim dividend of £138.30 per share on the Ordinary £0.10 shares was paid during the year. The directors recommend that no final dividend be paid on these shares.

No interim dividend was paid on the A Ordinary £0.10 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the year ended 30 June 2024 will be £65,000.

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

D J Simms
C J Jones
S L Forbes-Lee

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards 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 these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The 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. They 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, Kingscott Dix (Cheltenham) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



D J Simms - Secretary


3 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IDS TRANSPORT (UK) LIMITED

Opinion
We have audited the financial statements of IDS Transport (UK) 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, Cash Flow Statement and Notes to the 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 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IDS TRANSPORT (UK) LIMITED


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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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.

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

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

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from: our commercial and sector experience; our accountancy and tax knowledge; inspection of the Company's relevant correspondence; a review of Companies House filings; and discussions with the Director. We discussed laws and regulations throughout our team and remained alert to any indication of non-compliance throughout the audit. The potential effect of the law and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, distributable profits legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts disclosed in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: food safety, health and safety, operating heavy vehicles, GDPR, and employment laws and regulations, recognising the nature of the Company's activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiries of management, and inspection of regulatory and legal correspondence, if any. These limited procedures did not identify actual or suspected non-compliance.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. As with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
IDS TRANSPORT (UK) LIMITED


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.




Gwyneth Milner (Senior Statutory Auditor)
for and on behalf of Kingscott Dix (Cheltenham) Limited
Statutory Auditor
Chartered Accountants
7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN

3 February 2025

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

PROFIT AND LOSS ACCOUNT
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 3 10,517,555 10,535,659

Cost of sales (7,198,707 ) (7,374,915 )
GROSS PROFIT 3,318,848 3,160,744

Administrative expenses (2,689,063 ) (2,433,753 )
OPERATING PROFIT 5 629,785 726,991


Interest payable and similar expenses 6 (242,790 ) (215,010 )
PROFIT BEFORE TAXATION 386,995 511,981

Tax on profit 7 (99,000 ) (118,931 )
PROFIT FOR THE FINANCIAL YEAR 287,995 393,050

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

OTHER COMPREHENSIVE INCOME
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 287,995 393,050


OTHER COMPREHENSIVE INCOME
Share buy back - (74,997 )
Property revaluation gain - 281,233
Income tax relating to components of other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

206,236
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

287,995

599,286

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 9 6,407,104 5,961,740

CURRENT ASSETS
Stocks 10 71,585 50,250
Debtors 11 1,632,400 1,283,400
Cash at bank and in hand 517,857 702,585
2,221,842 2,036,235
CREDITORS
Amounts falling due within one year 12 (2,176,335 ) (1,787,571 )
NET CURRENT ASSETS 45,507 248,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,452,611

6,210,404

CREDITORS
Amounts falling due after more than one
year

13

(2,606,559

)

(2,686,347

)

PROVISIONS FOR LIABILITIES 17 (687,300 ) (588,300 )
NET ASSETS 3,158,752 2,935,757

CAPITAL AND RESERVES
Called up share capital 18 50 50
Capital redemption reserve 19 50 50
Retained earnings 19 3,158,652 2,935,657
SHAREHOLDERS' FUNDS 3,158,752 2,935,757

The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2025 and were signed on its behalf by:





D J Simms - Director


IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 30 June 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2022 53 2,431,374 47 2,431,474

Changes in equity
Issue of share capital (3 ) - - (3 )
Dividends - (95,000 ) - (95,000 )
Total comprehensive income - 599,283 3 599,286
Balance at 30 June 2023 50 2,935,657 50 2,935,757

Changes in equity
Dividends - (65,000 ) - (65,000 )
Total comprehensive income - 287,995 - 287,995
Balance at 30 June 2024 50 3,158,652 50 3,158,752

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

CASH FLOW STATEMENT
for the Year Ended 30 June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,201,819 1,682,284
Interest paid (128,452 ) (101,281 )
Interest element of hire purchase payments
paid

(114,338

)

(113,729

)
Tax paid (42,731 ) (63,409 )
Net cash from operating activities 916,298 1,403,865

Cash flows from investing activities
Purchase of tangible fixed assets (403,856 ) (150,204 )
Sale of tangible fixed assets 159,843 59,125
Net cash from investing activities (244,013 ) (91,079 )

Cash flows from financing activities
Loan repayments in year (37,080 ) (98,095 )
HP capital repayments in year (857,039 ) (734,833 )
Amount introduced by directors 65,000 238,000
Amount withdrawn by directors (162,827 ) (238,136 )
Share buyback - (75,000 )
Equity dividends paid (65,000 ) (95,000 )
Net cash from financing activities (1,056,946 ) (1,003,064 )

(Decrease)/increase in cash and cash equivalents (384,661 ) 309,722
Cash and cash equivalents at beginning of
year

2

495,590

185,868

Cash and cash equivalents at end of year 2 110,929 495,590

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE 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 386,995 511,981
Depreciation charges 684,798 685,435
Loss/(profit) on disposal of fixed assets 50,681 (711 )
Finance costs 242,790 215,010
1,365,264 1,411,715
(Increase)/decrease in stocks (21,335 ) 15,000
(Increase)/decrease in trade and other debtors (241,176 ) 445,807
Increase/(decrease) in trade and other creditors 99,066 (190,238 )
Cash generated from operations 1,201,819 1,682,284

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 517,857 702,585
Bank overdrafts (406,928 ) (206,995 )
110,929 495,590
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 702,585 685,727
Bank overdrafts (206,995 ) (499,859 )
495,590 185,868


IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 30 June 2024

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 702,585 (184,728 ) 517,857
Bank overdrafts (206,995 ) (199,933 ) (406,928 )
495,590 (384,661 ) 110,929
Debt
Finance leases (2,072,324 ) 857,039 - (2,152,115 )
Debts falling due
within 1 year (40,777 ) 1,460 - (39,317 )
Debts falling due
after 1 year (1,411,812 ) 35,620 - (1,376,192 )
(3,524,913 ) 894,119 - (3,567,624 )
Total (3,029,323 ) 509,458 - (3,456,695 )

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

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

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


2. ACCOUNTING POLICIES

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

The financial statements have been prepared on a going concern basis. The directors have undertaken a going concern assessment and are satisfied that the company has sufficient resources to continue to meet its debts as they fall due.

Significant judgements and estimates
The directors are required to make various judgements and estimates in respect of: the fair value of freehold property; asset depreciation rates; deferred tax liabilities; and the recoverability of trade debtor balances.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Haulage sales are recognised when the goods are delivered.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance and 15% on reducing balance

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

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.


IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

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.

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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. TURNOVER

All of the company's revenue is derived from the UK and relates to the same class of business.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,363,881 3,202,363
Social security costs 323,386 310,088
Other pension costs 60,262 58,291
3,747,529 3,570,742

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

Operational 69 66
Administration 19 20
88 86

2024 2023
£    £   
Directors' remuneration 176,319 199,319
Directors' pension contributions to money purchase schemes 2,861 -

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE 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 3 3

The directors are considered to be the key management personnel of the company, for the purposes of FRS 102.

5. OPERATING PROFIT

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

2024 2023
£    £   
Depreciation - owned assets 196,390 213,647
Depreciation - assets on hire purchase contracts 488,408 471,788
Loss/(profit) on disposal of fixed assets 50,681 (711 )
Auditors' remuneration 9,700 9,250

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 20,297 4,968
Other interest 3,882 5,231
Loan interest 104,273 91,082
Hire purchase interest 114,338 113,729
242,790 215,010

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 42,731

Deferred tax 99,000 76,200
Tax on profit 99,000 118,931

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

7. 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 386,995 511,981
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.500%)

96,749

104,956

Effects of:
Expenses not deductible for tax purposes - 2,766
Capital allowances in excess of depreciation (5,105 ) -
Depreciation in excess of capital allowances - 11,209
Other items 7,356 -
Total tax charge 99,000 118,931

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 June 2024.

2023
Gross Tax Net
£    £    £   
Share buy back (74,997 ) - (74,997 )
Property revaluation gain 281,233 - 281,233
206,236 - 206,236

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £0.10 each
Interim 65,000 95,000

During the year the directors received dividends of £65,000 (2023 - £95,000).

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2023 2,930,000 1,051,721 62,190 7,088,137 11,132,048
Additions 231,912 7,859 5,281 1,095,634 1,340,686
Disposals - (13,850 ) - (805,438 ) (819,288 )
At 30 June 2024 3,161,912 1,045,730 67,471 7,378,333 11,653,446
DEPRECIATION
At 1 July 2023 - 665,692 43,321 4,461,295 5,170,308
Charge for year - 87,462 5,184 592,152 684,798
Eliminated on disposal - (12,850 ) - (595,914 ) (608,764 )
At 30 June 2024 - 740,304 48,505 4,457,533 5,246,342
NET BOOK VALUE
At 30 June 2024 3,161,912 305,426 18,966 2,920,800 6,407,104
At 30 June 2023 2,930,000 386,029 18,869 2,626,842 5,961,740

Cost or valuation at 30 June 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2023 110,470 - - - 110,470
Cost 3,051,442 1,045,730 67,471 7,378,333 11,542,976
3,161,912 1,045,730 67,471 7,378,333 11,653,446

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,819,530 2,819,530
Aggregate depreciation 170,763 170,763

Freehold property was valued on an open market basis on 30 November 2022 by Stephen Hobbs MRICS of Vail Williams LLP .

At the balance sheet date the company held tangible fixed assets under hire purchase agreements that had a cost of £3,793,376 (2023 - £3,769,820) and a net book value of £2,306,648 (2023 - £2,159,265).

10. STOCKS
2024 2023
£    £   
Fuel stock and spares 71,585 50,250

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,375,336 1,233,281
Other debtors 136,606 32,998
Prepayments and accrued income 120,458 17,121
1,632,400 1,283,400

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 446,245 247,772
Hire purchase contracts (see note 15) 921,748 797,789
Trade creditors 445,905 370,904
Corporation tax - 42,731
Social security and other taxes 318,031 262,297
Other creditors 6,441 14,806
Directors' loan accounts 10,215 218
Accruals and deferred income 27,750 51,054
2,176,335 1,787,571

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 14) 1,376,192 1,411,812
Hire purchase contracts (see note 15) 1,230,367 1,274,535
2,606,559 2,686,347

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 406,928 206,995
Bank loans 39,317 40,777
446,245 247,772

Amounts falling due between two and five years:
Bank loans 157,083 163,110

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,219,109 1,248,702

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

15. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 921,748 797,789
Between one and five years 1,230,367 1,274,535
2,152,115 2,072,324

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 406,928 206,995
Bank loans 1,415,509 1,452,589
Hire purchase contracts 2,152,115 2,072,324
3,974,552 3,731,908

Bank overdrafts are secured by a fixed charge over the book debts of the company.

Bank loans are secured by a charge over the freehold property of the company.

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

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 687,300 588,300

Deferred
tax
£   
Balance at 1 July 2023 588,300
Charge to Profit and Loss Account during year 99,000
Balance at 30 June 2024 687,300

The deferred tax liability primarily relates to accelerated capital allowances. It is expected to reverse in future years as the net book value of tangible fixed assets decreases by depreciation, and therefore becomes comparable with the written down value of these assets for corporation tax purposes.

The element of the deferred tax liability that relates to property revaluations is trivial.

IDS TRANSPORT (UK) LIMITED (REGISTERED NUMBER: 04144319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
470 Ordinary £0.10 47 47
(2023 - 47 )
30 A Ordinary £0.10 3 3
50 50

During the year, 47 Ordinary shares of £1.00 each were subdivided into 470 Ordinary shares of £0.10 each, and 3 A Ordinary shares of £1.00 each were subdivided into 30 A Ordinary shares of £0.10 each.

All shares have full voting rights, capital rights and dividend rights.

After the balance sheet date, the company redesignated 470 Ordinary shares of £0.10 each as 470 B Ordinary shares of £0.10 each.

19. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 July 2023 2,935,657 50 2,935,707
Profit for the year 287,995 - 287,995
Dividends (65,000 ) - (65,000 )
At 30 June 2024 3,158,652 50 3,158,702

The company has recognised the following reserves:

Retained earnings - comprises accumulated total comprehensive income, less dividends.

Capital redemption reserve - comprises the nominal value of own shares repurchased.

At the year end, £281,233 of the companies reserves were not distributable, as they relate to unrealised revaluation gains.

20. RELATED PARTY DISCLOSURES

During the year, the company advanced directors £171,070, of which £65,000 was repaid during the year.

At the year end, the directors owed the company £105,852 (2023 - £218 owed by the company). This was repaid shortly after the year end.

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Simms.