Company registration number 08882733 (England and Wales)
EDGE TRANSPORT (PROPERTIES) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
EDGE TRANSPORT (PROPERTIES) LIMITED
COMPANY INFORMATION
Directors
Mr J Edge
Mrs A Cleland
Mrs N Edge
Company number
08882733
Registered office
Easter Park
Fourth Avenue
Deeside Industrial Park
Deeside
Flintshire
Nth Wales
CH5 2NR
Auditor
Mitchell Charlesworth (Audit) Limited
24 Nicholas Street
Chester
CH1 2AU
EDGE TRANSPORT (PROPERTIES) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9 - 10
Company balance sheet
11 - 12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Company statement of cash flows
16
Notes to the financial statements
17 - 36
EDGE TRANSPORT (PROPERTIES) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Principal activities

The principal activity of the company and group continued to be the provision of high-quality warehouse storage and distribution solutions.

Our ethos of working together to take pride in doing ordinary things extraordinary well continues to deliver high quality services and customer satisfaction. Our core values are at the heart of everything we do as a family run business:

During 2024 an opportunity arose for us to take on additional geographical area for the Palletline network, offering the company growth of volume and revenue in a challenging economic environment. We also took the exciting opportunity of rejoining The Hazchem Network allowing us to significantly expand our ADR regulated transport solutions.

We have continued to invest in our fleet and infrastructure, welcoming our first electric HGV artic unit on to the fleet in March 2024.

Sustainability has always been important to us, and we continue to work on a range of projects to deliver our services in the most sustainable way possible.

Feedback from customers and drivers alike has been very positive and we are pleased to see some of our local competitors following our lead and investing in electric vehicles.

Review of the business, including KPIs

The results for the year and financial position of the Group and Company are as shown in the financial statements.

2024 saw turnover increase significantly, especially during the final quarter when the new area and revenue came online.

This additional area has increased our network pallet volumes by circa 50% as well as increasing our workforce and the fleet of vehicles we operate.

We have continued to take a pragmatic approach to cost increases, continuing to work in partnership with our suppliers, managing costs where possible whilst ensuring that there was no impact on service levels. Operating profit for the group increased by 34% to £799,222 (2023: £594,948)

Throughout 2024 we have continued to invest in the development of our people and our management team. A significant investment in skills training was made to allow us to operate for the Hazchem Network safely and compliantly. Our drivers completed external ADR training along with every single member of the team receiving ADR awareness training. We also invested in Mental Health First Aid, ILM Leadership & Management, IOSH Managing Safely, Driver CPC and HGV Class 1 training.

We believe that this approach will make the company more agile and responsive moving forward.

2024 was a successful year for the Edge group with profit before tax of 4.98%, up from 3.77% last financial year.

During the year, we welcomed Steve Lloyd on to the board of Edge Transport Limited as a Non-Executive Director. Steve brings valuable insight to Edge and is supporting the other Directors in driving the business forward.

Principal risks and uncertainties

The challenges facing the haulage industry continue to reflect the economic environment across the UK. Volumes continue to fluctuate. We have seen the toll that this has taken on some companies with a small number of bad debts throughout the year.

The directors continue to ensure a robust action plan is in place to safeguard Edge, where possible, from financial pressures and are confident that 2025 offers significant opportunity for success.

EDGE TRANSPORT (PROPERTIES) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Development and performance

The Company continues to look ahead, committing to additional new vehicles due Quarter 2 2025 and system investments to keep us at the forefront of the industry.

Our management team will play a significant role within our business moving forward. We will continue to invest in our people, their development, and retaining key talent within our business, as this will support our growth and differentiate us from our competition.

Our membership of the leading pallet distribution networks, Palletline and now The Hazchem Network, offers Edge and our customers access to industry leading service levels.

On behalf of the board

Mr J Edge
Director
16 April 2025
EDGE TRANSPORT (PROPERTIES) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £164,839. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J Edge
Mrs A Cleland
Mrs N Edge
Acquisition of own shares

During the year the company purchased 426 shares (6.9% of the called up share capital) for consideration of £215,000. The maximum number of shares held in the year was 6,197 at a nominal value of £6,197. During the year, the 426 shares that were repurchased were cancelled.

 

A further 462 shares are due to be repurchased in 2025 for a total consideration of £215,000.

Auditor

The auditor, Mitchell Charlesworth (Audit) Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr J Edge
Director
16 April 2025
EDGE TRANSPORT (PROPERTIES) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

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

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

EDGE TRANSPORT (PROPERTIES) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EDGE TRANSPORT (PROPERTIES) LIMITED
- 5 -
Opinion

We have audited the financial statements of Edge Transport (Properties) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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:

Basis for opinion

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

Conclusions relating to going concern

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

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

EDGE TRANSPORT (PROPERTIES) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF EDGE TRANSPORT (PROPERTIES) LIMITED
- 6 -
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 their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

 

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

 

EDGE TRANSPORT (PROPERTIES) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF EDGE TRANSPORT (PROPERTIES) LIMITED
- 7 -

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

 

(i) The presentation of the group's Statement of Comprehensive Income and (ii) the group's accounting policy for revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

 

We also obtained an understanding of the legal and regulatory framework that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, and GDPR legislation.

 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. This includes regulations concerning Data Protection.

Audit response to risk identified

As a result of performing the above, we identified revenue recognition and adherence to laws and regulations as the key audit matters related to the potential risk of fraud. Our procedures to respond to risks identified included the following:

 

 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

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

Robert Hall
For and on behalf of
16 April 2025
Mitchell Charlesworth (Audit) Limited
Accountants
Statutory Auditor
24 Nicholas Street
Chester
CH1 2AU
EDGE TRANSPORT (PROPERTIES) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
9,549,592
8,297,443
Cost of sales
(6,803,874)
(5,847,140)
Gross profit
2,745,718
2,450,303
Administrative expenses
(1,936,631)
(1,856,856)
Other operating (expenses)/income
(9,865)
1,501
Operating profit
4
799,222
594,948
Interest receivable and similar income
6
12,310
2,593
Interest payable and similar expenses
7
(336,209)
(284,456)
Profit before taxation
475,323
313,085
Tax on profit
8
(134,349)
(93,788)
Profit for the financial year
24
340,974
219,297
Profit for the financial year is attributable to:
- Owners of the parent company
340,066
219,170
- Non-controlling interests
908
127
340,974
219,297
Total comprehensive income for the year is attributable to:
- Owners of the parent company
340,066
219,170
- Non-controlling interests
908
127
340,974
219,297
EDGE TRANSPORT (PROPERTIES) LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
8,478,900
8,658,729
Investments
11
72,279
72,279
8,551,179
8,731,008
Current assets
Stocks
13
49,316
25,146
Debtors
14
2,079,693
1,699,288
Cash at bank and in hand
223,639
168,209
2,352,648
1,892,643
Creditors: amounts falling due within one year
15
(2,203,576)
(1,721,268)
Net current assets
149,072
171,375
Total assets less current liabilities
8,700,251
8,902,383
Creditors: amounts falling due after more than one year
16
(4,413,344)
(4,710,960)
Provisions for liabilities
Deferred tax liability
19
689,612
555,263
(689,612)
(555,263)
Net assets
3,597,295
3,636,160
Capital and reserves
Called up share capital
21
5,771
6,197
Revaluation reserve
22
831,967
849,300
Capital redemption reserve
23
4,429
4,003
Profit and loss reserves
24
2,724,276
2,746,716
Equity attributable to owners of the parent company
3,566,443
3,606,216
Non-controlling interests
30,852
29,944
3,597,295
3,636,160
EDGE TRANSPORT (PROPERTIES) LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 10 -

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 16 April 2025 and are signed on its behalf by:
16 April 2025
Mr J  Edge
Director
Company registration number 08882733 (England and Wales)
EDGE TRANSPORT (PROPERTIES) LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
4,964,000
5,032,000
Investments
11
8,100
8,100
4,972,100
5,040,100
Current assets
Debtors
14
3,064
3,813
Cash at bank and in hand
98,254
30,544
101,318
34,357
Creditors: amounts falling due within one year
15
(1,266,906)
(1,065,263)
Net current liabilities
(1,165,588)
(1,030,906)
Total assets less current liabilities
3,806,512
4,009,194
Creditors: amounts falling due after more than one year
16
(2,705,261)
(2,785,000)
Provisions for liabilities
Deferred tax liability
19
33,184
31,857
(33,184)
(31,857)
Net assets
1,068,067
1,192,337
Capital and reserves
Called up share capital
21
5,771
6,197
Revaluation reserve
22
831,967
849,300
Capital redemption reserve
23
2,429
2,003
Profit and loss reserves
24
227,900
334,837
Total equity
1,068,067
1,192,337

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £255,570 (2023 - £212,320 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

EDGE TRANSPORT (PROPERTIES) LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 12 -
The financial statements were approved by the board of directors and authorised for issue on 16 April 2025 and are signed on its behalf by:
16 April 2025
Mr J  Edge
Director
Company registration number 08882733 (England and Wales)
EDGE TRANSPORT (PROPERTIES) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
Balance at 1 January 2023
6,217
866,633
3,983
2,703,449
3,580,282
29,817
3,610,099
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
-
219,170
219,170
127
219,297
Dividends
9
-
-
-
(191,223)
(191,223)
-
(191,223)
Own shares acquired
-
-
-
(2,013)
(2,013)
-
(2,013)
Redemption of shares
21
(20)
-
20
-
-
0
-
-
Transfers
-
(17,333)
-
17,333
-
-
-
Balance at 31 December 2023
6,197
849,300
4,003
2,746,716
3,606,216
29,944
3,636,160
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
340,066
340,066
908
340,974
Dividends
9
-
-
-
(164,839)
(164,839)
-
(164,839)
Own shares acquired
-
-
-
(215,000)
(215,000)
-
(215,000)
Redemption of shares
21
(426)
-
426
-
-
0
-
-
Transfers
-
(17,333)
-
17,333
-
-
-
Balance at 31 December 2024
5,771
831,967
4,429
2,724,276
3,566,443
30,852
3,597,295
EDGE TRANSPORT (PROPERTIES) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2023
6,217
866,633
1,983
298,407
1,173,240
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
-
212,320
212,320
Dividends
9
-
-
-
(191,223)
(191,223)
Own shares acquired
-
-
-
(2,000)
(2,000)
Redemption of shares
21
(20)
-
20
-
-
0
Transfers
-
(17,333)
-
17,333
-
Balance at 31 December 2023
6,197
849,300
2,003
334,837
1,192,337
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
255,569
255,569
Dividends
9
-
-
-
(164,839)
(164,839)
Own shares acquired
-
-
-
(215,000)
(215,000)
Redemption of shares
21
(426)
-
426
-
-
0
Transfers
-
(17,333)
-
17,333
-
Balance at 31 December 2024
5,771
831,967
2,429
227,900
1,068,067
EDGE TRANSPORT (PROPERTIES) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
30
1,818,951
979,668
Interest paid
(336,209)
(284,456)
Income taxes refunded
-
0
8,613
Net cash inflow from operating activities
1,482,742
703,825
Investing activities
Purchase of tangible fixed assets
(620,249)
(1,874,138)
Proceeds from disposal of tangible fixed assets
(107)
55,999
Interest received
2,173
889
Dividends received
10,137
1,704
Net cash used in investing activities
(608,046)
(1,815,546)
Financing activities
Purchase of own shares
(215,000)
(2,013)
Repayment of bank loans
(216,424)
(158,280)
Payment of finance leases obligations
(223,003)
1,218,453
Dividends paid to equity shareholders
(164,839)
(191,223)
Net cash (used in)/generated from financing activities
(819,266)
866,937
Net increase/(decrease) in cash and cash equivalents
55,430
(244,784)
Cash and cash equivalents at beginning of year
168,209
412,993
Cash and cash equivalents at end of year
223,639
168,209
EDGE TRANSPORT (PROPERTIES) LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
31
654,391
264,483
Interest paid
(216,536)
(216,538)
Net cash inflow from operating activities
437,855
47,945
Investing activities
Interest received
2,173
889
Dividends received
213,945
213,945
Net cash generated from investing activities
216,118
214,834
Financing activities
Purchase of treasury shares
(215,000)
(2,000)
Repayment of bank loans
(206,424)
(148,280)
Dividends paid to equity shareholders
(164,839)
(191,223)
Net cash used in financing activities
(586,263)
(341,503)
Net increase/(decrease) in cash and cash equivalents
67,710
(78,724)
Cash and cash equivalents at beginning of year
30,544
109,268
Cash and cash equivalents at end of year
98,254
30,544
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
1
Accounting policies
Company information

Edge Transport (Properties) Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Easter Park, Fourth Avenue, Deeside Industrial Park, Deeside, Flintshire, Nth Wales, CH5 2NR.

 

The group consists of Edge Transport (Properties) Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Edge Transport (Properties) Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 18 -

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Between 0% and 2% on cost
Leasehold improvements
Between 5% and 20% on cost
Plant and equipment
Between 20% and 25% on cost
Trailers
Between 14% and 33% on cost
Office equipment
Between 20% and 25% on cost
Motor vehicles
Between 14% and 7% on cost

Freehold land is not depreciated. Freehold properties are depreciated at 2% straight line. The freehold land is not depreciated and this is a departure from the requirement in the Companies Act 2006 for all fixed assets to be depreciated. This departure from the Act is required in order to achieve a fair presentation. Management has concluded that the financial statements present fairly the entity's financial position and financial performance.

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 19 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 20 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 21 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 22 -
1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 23 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Rendering of services
9,549,592
8,297,443
2024
2023
£
£
Other revenue
Interest income
2,173
889
Dividends received
10,137
1,704
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Fees payable to the group's auditor for the audit of the group's financial statements
8,313
10,385
Depreciation of owned tangible fixed assets
788,890
559,911
Loss/(profit) on disposal of tangible fixed assets
11,295
(10,089)
Operating lease charges
173,298
330,548
5
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Production staff
57
53
-
-
Administrative staff
16
15
-
-
Management staff
3
3
-
-
Total
76
71
-
0
-
0
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Employees
(Continued)
- 24 -

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,486,383
2,242,684
-
0
-
0
Social security costs
238,441
210,460
-
-
Pension costs
84,758
142,527
-
0
-
0
2,809,582
2,595,671
-
0
-
0
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
2,173
889
Other income from investments
Dividends received
10,137
1,704
Total income
12,310
2,593
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
2,173
889
7
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
217,137
217,494
Other finance costs:
Interest on finance leases and hire purchase contracts
119,072
67,020
Other interest
-
(58)
Total finance costs
336,209
284,456
8
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
-
0
(55)
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
Taxation
2024
2023
£
£
(Continued)
- 25 -
Deferred tax
Origination and reversal of timing differences
134,349
93,843
Total tax charge
134,349
93,788

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
475,323
313,085
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
118,831
73,638
Tax effect of expenses that are not deductible in determining taxable profit
2,434
1,965
Effect of change in corporation tax rate
-
796
Depreciation on assets not qualifying for tax allowances
15,604
15,280
Dividend income
-
4,303
Fixed asset differences
(2,520)
(2,194)
Taxation charge
134,349
93,788
9
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
164,839
191,223
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 26 -
10
Tangible fixed assets
Group
Freehold land and buildings
Leasehold improvements
Plant and equipment
Trailers
Office equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost or valuation
At 1 January 2024
5,100,000
608,054
88,195
1,382,834
103,989
3,213,486
10,496,558
Additions
-
0
16,000
2,156
41,795
9,287
551,011
620,249
Disposals
-
0
(104,533)
(29,215)
(19,500)
(87,104)
(56,342)
(296,694)
Transfers
-
0
11,408
(11,408)
-
0
-
0
-
0
-
0
At 31 December 2024
5,100,000
530,929
49,728
1,405,129
26,172
3,708,155
10,820,113
Depreciation and impairment
At 1 January 2024
68,000
353,339
66,705
664,057
94,728
591,000
1,837,829
Depreciation charged in the year
68,000
78,900
8,323
74,391
7,910
551,366
788,890
Eliminated in respect of disposals
-
0
(98,713)
(29,273)
(19,500)
(85,311)
(52,709)
(285,506)
Transfers
-
0
11,408
(11,408)
-
0
-
0
-
0
-
0
At 31 December 2024
136,000
344,934
34,347
718,948
17,327
1,089,657
2,341,213
Carrying amount
At 31 December 2024
4,964,000
185,995
15,381
686,181
8,845
2,618,498
8,478,900
At 31 December 2023
5,032,000
254,715
21,490
718,777
9,261
2,622,486
8,658,729
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 27 -
Company
Freehold land and buildings
£
Cost or valuation
At 1 January 2024 and 31 December 2024
5,100,000
Depreciation and impairment
At 1 January 2024
68,000
Depreciation charged in the year
68,000
At 31 December 2024
136,000
Carrying amount
At 31 December 2024
4,964,000
At 31 December 2023
5,032,000

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2024
2023
2024
2023
£
£
£
£
Trailers
333,875
559,905
-
0
-
0
Motor vehicles
1,167,893
1,213,239
-
0
-
0
Leasehold Improvements
10,939
53,644
-
-
1,512,707
1,826,788
-
-

Bank borrowings of the group are secured by a first legal charge over the land and buildings of the group together with a debenture over all other assets of all group companies.

 

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

Land and buildings with a carrying amount of £5,100,000 were revalued at 1st April 2022 by Eddisons, independent valuers not connected with the company, on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties. The directors believe that the value of these land and buildings has not significantly changed from the date of this valuation.

The revaluation surplus is disclosed in note 24 and is not a distributable reserve.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Tangible fixed assets
(Continued)
- 28 -
Freehold land and buildings
2024
2023
£
£
Group
Cost
4,724,892
4,724,892
Accumulated depreciation
(626,004)
(565,506)
Carrying value
4,098,888
4,159,386
Company
Cost
4,724,892
4,724,892
Accumulated depreciation
(626,004)
(565,506)
Carrying value
4,098,888
4,159,386
11
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
12
-
0
-
0
8,100
8,100
Unlisted investments
72,279
72,279
-
0
-
0
72,279
72,279
8,100
8,100
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 January 2024 and 31 December 2024
72,279
Carrying amount
At 31 December 2024
72,279
At 31 December 2023
72,279
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Fixed asset investments
(Continued)
- 29 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024 and 31 December 2024
8,100
Carrying amount
At 31 December 2024
8,100
At 31 December 2023
8,100
12
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Edge Transport Limited
The registered office is the same as this company
Ordinary
98.78
13
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
49,316
25,146
-
-
14
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,829,199
1,476,621
-
0
-
0
Other debtors
21,508
28,490
100
100
Prepayments and accrued income
228,986
194,177
2,964
3,713
2,079,693
1,699,288
3,064
3,813
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 30 -
15
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
17
79,756
206,441
69,756
196,441
Obligations under finance leases
18
662,436
677,562
-
0
-
0
Trade creditors
983,481
653,686
2,964
4,037
Amounts owed to group undertakings
-
0
-
0
1,164,293
833,227
Other taxation and social security
350,603
93,255
18,679
16,179
Other creditors
49,985
35,059
338
-
0
Accruals and deferred income
77,315
55,265
10,876
15,379
2,203,576
1,721,268
1,266,906
1,065,263

Included within other creditors is £662,436 (2023 - £677,562) relating to an outstanding hire purchase liability which is secured against fixed assets.

16
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
17
2,711,928
2,801,667
2,705,261
2,785,000
Obligations under finance leases
18
1,701,416
1,909,293
-
0
-
0
4,413,344
4,710,960
2,705,261
2,785,000

Included within other creditors is £1,701,416 (2023 - £1,909,293) relating to an outstanding hire purchase liability which is secured against fixed assets.

17
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
2,791,684
3,008,108
2,775,017
2,981,441
Payable within one year
79,756
206,441
69,756
196,441
Payable after one year
2,711,928
2,801,667
2,705,261
2,785,000

Bank borrowings of the group are secured by a first legal charge over the land and buildings of the group together with a debenture over all other assets of all group companies.

 

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 31 -
18
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
662,436
677,562
-
0
-
0
In two to five years
1,583,521
1,713,085
-
0
-
0
In over five years
117,895
196,208
-
0
-
0
2,363,852
2,586,855
-
-

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is five years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
706,362
702,473
Tax losses
(30,233)
(160,693)
Revaluations
13,483
13,483
689,612
555,263
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
19,701
18,374
Revaluations
13,483
13,483
33,184
31,857
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19
Deferred taxation
(Continued)
- 32 -
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 January 2024
555,263
31,857
Charge to profit or loss
134,349
1,327
Liability at 31 December 2024
689,612
33,184

The deferred tax liability set out above relates to accelerated capital allowances and is expected to reverse within the same period as those allowances.

20
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
84,758
142,527

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

21
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
5,691
6,117
5,691
6,117
B Ordinary Shares of £1 each
20
20
20
20
C Ordinary Shares of £1 each
20
20
20
20
E Ordinary Shares of £1 each
20
20
20
20
F Ordinary Shares of £1 each
20
20
20
20
5,771
6,197
5,771
6,197
22
Revaluation reserve
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
849,300
866,633
849,300
866,633
Transfer to retained earnings
(17,333)
(17,333)
(17,333)
(17,333)
At the end of the year
831,967
849,300
831,967
849,300
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22
Revaluation reserve
(Continued)
- 33 -

Revaluation reserve relates to a gain on freehold property revaluations, including any associated deferred tax impact.

23
Capital redemption reserve
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
4,003
3,983
2,003
1,983
Transfers
426
20
426
20
At the end of the year
4,429
4,003
2,429
2,003

Group

 

Capital redemption reserve of £4,429 relates to own shares purchased by the company from previous shareholders.

 

Company

 

Capital redemption reserve of £2,429 relates to own shares purchased by the company from previous shareholders.

24
Profit and loss reserves
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
2,746,716
2,703,449
334,837
298,407
Profit for the year
340,066
219,170
255,569
212,320
Dividends
(164,839)
(191,223)
(164,839)
(191,223)
Transfer from revaluation reserve
17,333
17,333
17,333
17,333
Own shares acquired
(215,000)
(2,013)
(215,000)
(2,000)
At the end of the year
2,724,276
2,746,716
227,900
334,837

 

25
Financial commitments, guarantees and contingent liabilities

The group and company has an agreement in place to buy back the remaining shares for the following consideration:

 

21 October 2025 £215,000 426 shares

 

 

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 34 -
26
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
288,189
164,645
-
-
Between two and five years
611,992
195,702
-
-
In over five years
-
29,267
-
-
900,181
389,614
-
-
27
Capital commitments

Amounts contracted for but not provided in the financial statements:

Group
Company
2024
2023
2024
2023
£
£
£
£
Acquisition of tangible fixed assets
41,295
808,666
-
-
28
Related party transactions
Transactions with related parties

The company has entered into an agreement to purchase 2,835 shares from J Pridding, of which 1,983 were bought during the prior year. During the year, the company purchased 426 shares from J Pridding, for consideration of £215,000. The remaining consideration outstanding of £215,000 will be paid in 2025 to purchase the remaining shares.

 

29
Directors' transactions

Dividends totalling £164,839 (2023 - £191,223) were paid in the year in respect of shares held by the company's directors.

During the year the directors made a contribution to company motor expenses etc. of £20,162 (2023 - £19,977).

EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 35 -
30
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
340,974
219,297
Adjustments for:
Taxation charged
134,349
93,788
Finance costs
336,209
284,456
Investment income
(12,310)
(2,593)
Loss/(gain) on disposal of tangible fixed assets
11,295
(10,089)
Depreciation and impairment of tangible fixed assets
788,890
559,911
Movements in working capital:
Increase in stocks
(24,170)
(13,528)
(Increase)/decrease in debtors
(380,405)
59,041
Increase/(decrease) in creditors
624,119
(210,615)
Cash generated from operations
1,818,951
979,668
31
Cash generated from operations - company
2024
2023
£
£
Profit for the year after tax
255,569
212,320
Adjustments for:
Taxation charged
1,327
2,231
Finance costs
216,536
216,538
Investment income
(216,118)
(214,834)
Depreciation and impairment of tangible fixed assets
68,000
68,000
Movements in working capital:
Decrease/(increase) in debtors
749
(365)
Increase/(decrease) in creditors
328,328
(19,407)
Cash generated from operations
654,391
264,483
EDGE TRANSPORT (PROPERTIES) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 36 -
32
Analysis of changes in net debt - group
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
168,209
55,430
223,639
Borrowings excluding overdrafts
(3,008,108)
216,424
(2,791,684)
Obligations under finance leases
(2,586,855)
223,003
(2,363,852)
(5,426,754)
494,857
(4,931,897)
33
Analysis of changes in net debt - company
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
30,544
67,710
98,254
Borrowings excluding overdrafts
(2,981,441)
206,424
(2,775,017)
(2,950,897)
274,134
(2,676,763)
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