Company registration number 01919980 (England and Wales)
EDGE TRANSPORT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
EDGE TRANSPORT LIMITED
COMPANY INFORMATION
Directors
Mrs N Edge
Mr J Edge
Mrs A Cleland
Mr S Lloyd
(Appointed 18 April 2024)
Company number
01919980
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 LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 24
EDGE TRANSPORT 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 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 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 increased by 43% to £541,908.

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 Edge with profit before tax of 4.6%, up from 3.7% last financial year.

During the year, we welcomed Steve Lloyd on to the board 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 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 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 9.

Ordinary dividends were paid amounting to £213,945. 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:

Mrs N Edge
Mr J Edge
Mrs A Cleland
Mr S Lloyd
(Appointed 18 April 2024)
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 company’s auditor 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 company’s auditor is aware of that information.

EDGE TRANSPORT LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
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 LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -

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 company and of the profit or loss of the company 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 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.

EDGE TRANSPORT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EDGE TRANSPORT LIMITED
- 6 -
Opinion

We have audited the financial statements of Edge Transport Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity 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 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 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 LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF EDGE TRANSPORT LIMITED
- 7 -
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 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 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.

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 LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF EDGE TRANSPORT LIMITED
- 8 -

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 company's Statement of Comprehensive Income and (ii) the company'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 company 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
Senior Statutory Auditor
For and on behalf of Mitchell Charlesworth (Audit) Limited
16 April 2025
Accountants
Statutory Auditor
24 Nicholas Street
Chester
CH1 2AU
EDGE TRANSPORT LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
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
(2,193,946)
(2,073,110)
Other operating (expenses)/income
(9,864)
1,500
Operating profit
4
541,908
378,693
Interest receivable and similar income
7
10,137
1,704
Interest payable and similar expenses
8
(119,673)
(67,918)
Profit before taxation
432,372
312,479
Tax on profit
9
(133,022)
(91,557)
Profit for the financial year
299,350
220,922

The profit and loss account has been prepared on the basis that all operations are continuing operations.

EDGE TRANSPORT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
3,514,900
3,626,729
Investments
12
72,279
72,279
3,587,179
3,699,008
Current assets
Stocks
13
49,316
25,146
Debtors
14
3,240,922
2,528,702
Cash at bank and in hand
125,385
137,665
3,415,623
2,691,513
Creditors: amounts falling due within one year
15
(2,100,963)
(1,489,232)
Net current assets
1,314,660
1,202,281
Total assets less current liabilities
4,901,839
4,901,289
Creditors: amounts falling due after more than one year
16
(1,708,083)
(1,925,960)
Provisions for liabilities
Deferred tax liability
19
656,428
523,406
(656,428)
(523,406)
Net assets
2,537,328
2,451,923
Capital and reserves
Called up share capital
21
8,187
8,187
Capital redemption reserve
1,913
1,913
Profit and loss reserves
2,527,228
2,441,823
Total equity
2,537,328
2,451,923

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

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:
Mr J  Edge
Director
Company registration number 01919980 (England and Wales)
EDGE TRANSPORT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
8,200
1,900
2,434,859
2,444,959
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
220,922
220,922
Dividends
10
-
-
(213,945)
(213,945)
Own shares acquired
-
-
(13)
(13)
Redemption of shares
21
(13)
13
-
0
-
0
Balance at 31 December 2023
8,187
1,913
2,441,823
2,451,923
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
299,350
299,350
Dividends
10
-
-
(213,945)
(213,945)
Balance at 31 December 2024
8,187
1,913
2,527,228
2,537,328
EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
1
Accounting policies
Company information

Edge Transport Limited is a private company limited by shares incorporated in England and Wales. The registered office is Easter Park, Fourth Avenue, Deeside Industrial Park, Deeside, Flintshire, Nth Wales, CH5 2NR.

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. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Edge Transport (Properties) Limited. These consolidated financial statements are available from its registered office, Easter Park, Fourth Avenue, Deeside Industrial Park, Deeside, Flintshire, Nth Wales, CH5 2NR.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company 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.

1.3
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. Turnover is recognised at the manifest date.

1.4
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.

EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -

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:

Improvements to property
Between 5% and 20% on cost
Plant and machinery
Between 20% and 25% on cost
Trailers
Between 14% and 33% on cost
Equipment
Between 20% and 25% on cost
Motor vehicles
Between 14% and 33% on cost

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 credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. 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 company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

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

1.6
Impairment of fixed assets

At each reporting period end date, the company 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.

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 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -

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.

1.7
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.

1.8
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.

1.9
Financial instruments

The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
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 company 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 company 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 company’s contractual obligations expire or are discharged or cancelled.

EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.10
Equity instruments

Equity instruments issued by the company 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 company.

1.11
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 company’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 when the company has 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.

1.12
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.

1.13
Retirement benefits

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

1.14
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 leases asset are consumed.

EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’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
9,549,592
8,297,443
2024
2023
£
£
Other revenue
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 company's auditor for the audit of the company's financial statements
10,500
10,000
Depreciation of owned tangible fixed assets
720,890
491,911
Loss/(profit) on disposal of tangible fixed assets
11,295
(10,089)
Operating lease charges
546,870
654,092
5
Employees

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

2024
2023
Number
Number
Production staff
57
53
Administrative staff
16
15
Management staff
3
3
Total
76
71
EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Employees
(Continued)
- 18 -

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
2,486,383
2,242,684
Social security costs
238,441
210,460
Pension costs
84,758
142,527
2,809,582
2,595,671
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
27,476
29,752
Company pension contributions to defined contribution schemes
29,937
94,669
57,413
124,421
7
Interest receivable and similar income
2024
2023
£
£
Other income from investments
Dividends received
10,137
1,704
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
601
956
Interest on finance leases and hire purchase contracts
119,072
67,020
Other interest
-
0
(58)
119,673
67,918
9
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
-
0
(55)
EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Taxation
2024
2023
£
£
(Continued)
- 19 -
Deferred tax
Origination and reversal of timing differences
133,022
91,612
Total tax charge
133,022
91,557

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
432,372
312,479
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
108,093
73,495
Tax effect of expenses that are not deductible in determining taxable profit
2,165
1,965
Effect of change in corporation tax rate
-
0
5,369
Group relief
25,283
13,323
Dividend income
(2,534)
(401)
Fixed asset differences
15
(2,194)
Taxation charge for the year
133,022
91,557
10
Dividends
2024
2023
£
£
Final paid
213,945
213,945
EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
11
Tangible fixed assets
Improvements to property
Plant and machinery
Trailers
Equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2024
608,054
88,195
1,382,834
103,989
3,213,486
5,396,558
Additions
16,000
2,156
41,795
9,287
551,011
620,249
Disposals
(104,533)
(29,215)
(19,500)
(87,104)
(56,342)
(296,694)
Transfers
11,408
(11,408)
-
0
-
0
-
0
-
0
At 31 December 2024
530,929
49,728
1,405,129
26,172
3,708,155
5,720,113
Depreciation and impairment
At 1 January 2024
353,339
66,705
664,057
94,728
591,000
1,769,829
Depreciation charged in the year
78,900
8,323
74,391
7,910
551,366
720,890
Eliminated in respect of disposals
(98,713)
(29,273)
(19,500)
(85,311)
(52,709)
(285,506)
Transfers
11,408
(11,408)
-
0
-
0
-
0
-
0
At 31 December 2024
344,934
34,347
718,948
17,327
1,089,657
2,205,213
Carrying amount
At 31 December 2024
185,995
15,381
686,181
8,845
2,618,498
3,514,900
At 31 December 2023
254,715
21,490
718,777
9,261
2,622,486
3,626,729

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

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

Bank borrowings of the group (excluding the COVID bounce back loan of £50,000) 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 contracts are secured over the assets to which they relate.

EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
12
Fixed asset investments
2024
2023
£
£
Unlisted investments
72,279
72,279
13
Stocks
2024
2023
£
£
Raw materials and consumables
49,316
25,146
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,829,199
1,476,621
Amounts owed by group undertakings
1,164,293
833,227
Other debtors
21,408
28,390
Prepayments and accrued income
226,022
190,464
3,240,922
2,528,702
15
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
17
10,000
10,000
Obligations under finance leases
18
662,436
677,562
Trade creditors
980,517
649,649
Taxation and social security
331,924
77,076
Other creditors
49,647
35,059
Accruals and deferred income
66,439
39,886
2,100,963
1,489,232

The company has guaranteed the bank borrowing of Edge Transport (Properties) Limited which amounted to £2,775,017(2023: £2,981,411). This cross guarantee is secured by a debenture creating a fixed and floating charge over the assets of the company. The company's bank have given a guarantee to HMRC of £70,000 in respect of suspended duty on alcohol carried for customers with recourse to the company.

 

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

EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
16
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
17
6,667
16,667
Obligations under finance leases
18
1,701,416
1,909,293
1,708,083
1,925,960

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
2024
2023
£
£
Bank loans
16,667
26,667
Payable within one year
10,000
10,000
Payable after one year
6,667
16,667

Security for the long-term loans have been noted above in notes 15 and 16.

18
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
662,436
677,562
In two to five years
1,583,521
1,713,085
In over five years
117,895
196,208
2,363,852
2,586,855

Finance lease payments represent rentals payable by the company 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.

EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 23 -
19
Deferred taxation

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

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
686,661
684,099
Tax losses
(30,233)
(160,693)
656,428
523,406
2024
Movements in the year:
£
Liability at 1 January 2024
523,406
Charge to profit or loss
133,022
Liability at 31 December 2024
656,428

The deferred tax liability set out above relates to accelerated capital allowances and is expected to mature over the same period of these 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

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

21
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
8,187
8,187
8,187
8,187
EDGE TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 24 -
22
Operating lease commitments
Lessee

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

2024
2023
£
£
Within one year
288,189
164,645
Between two and five years
611,992
195,702
In over five years
-
0
29,267
900,181
389,614
23
Capital commitments

Amounts contracted for but not provided in the financial statements:

2024
2023
£
£
Acquisition of tangible fixed assets
41,295
808,666
24
Directors' transactions

Dividends totalling £0 (2023 - £0) 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).

25
Ultimate controlling party

The company is a subsidiary of Edge Transport (Properties) Limited. The registered office and principal place of business of the parent company is Easter Park, Fourth Avenue, Deeside Industrial Park, Deeside, Flintshire, CH5 2NR.

2024-12-312024-01-01falseCCH SoftwareCCH Accounts Production 2024.210Mrs N EdgeMr J EdgeMrs A ClelandMr S Lloydfalsefalse019199802024-01-012024-12-3101919980bus:Director12024-01-012024-12-3101919980bus:Director22024-01-012024-12-3101919980bus:Director32024-01-012024-12-3101919980bus:Director42024-01-012024-12-3101919980bus:RegisteredOffice2024-01-012024-12-31019199802024-12-31019199802023-01-012023-12-3101919980core:RetainedEarningsAccumulatedLosses2023-01-012023-12-3101919980core:RetainedEarningsAccumulatedLosses2024-01-012024-12-31019199802023-12-3101919980core:LeaseholdImprovements2024-12-3101919980core:PlantMachinery2024-12-3101919980core:FurnitureFittings2024-12-3101919980core:ComputerEquipment2024-12-3101919980core:MotorVehicles2024-12-3101919980core:LeaseholdImprovements2023-12-3101919980core:PlantMachinery2023-12-3101919980core:FurnitureFittings2023-12-3101919980core:ComputerEquipment2023-12-3101919980core:MotorVehicles2023-12-3101919980core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3101919980core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3101919980core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3101919980core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3101919980core:CurrentFinancialInstruments2024-12-3101919980core:CurrentFinancialInstruments2023-12-3101919980core:Non-currentFinancialInstruments2024-12-3101919980core:Non-currentFinancialInstruments2023-12-3101919980core:ShareCapital2024-12-3101919980core:ShareCapital2023-12-3101919980core:CapitalRedemptionReserve2024-12-3101919980core:CapitalRedemptionReserve2023-12-3101919980core:RetainedEarningsAccumulatedLosses2024-12-3101919980core:RetainedEarningsAccumulatedLosses2023-12-3101919980core:ShareCapital2022-12-3101919980core:CapitalRedemptionReserve2022-12-3101919980core:RetainedEarningsAccumulatedLosses2022-12-3101919980core:ShareCapital2023-01-012023-12-3101919980core:LeaseholdImprovements2024-01-012024-12-3101919980core:PlantMachinery2024-01-012024-12-3101919980core:FurnitureFittings2024-01-012024-12-3101919980core:ComputerEquipment2024-01-012024-12-3101919980core:MotorVehicles2024-01-012024-12-310191998012024-01-012024-12-310191998012023-01-012023-12-3101919980core:UKTax2024-01-012024-12-3101919980core:UKTax2023-01-012023-12-3101919980core:LeaseholdImprovements2023-12-3101919980core:PlantMachinery2023-12-3101919980core:FurnitureFittings2023-12-3101919980core:ComputerEquipment2023-12-3101919980core:MotorVehicles2023-12-31019199802023-12-3101919980core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2024-12-3101919980core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2023-12-3101919980core:WithinOneYear2024-12-3101919980core:WithinOneYear2023-12-3101919980core:BetweenTwoFiveYears2024-12-3101919980core:BetweenTwoFiveYears2023-12-3101919980core:MoreThanFiveYears2024-12-3101919980core:MoreThanFiveYears2023-12-3101919980bus:PrivateLimitedCompanyLtd2024-01-012024-12-3101919980bus:FRS1022024-01-012024-12-3101919980bus:Audited2024-01-012024-12-3101919980bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP