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REGISTERED NUMBER: 01011790 (England and Wales)
















VIAMASTER TRANSPORT LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


VIAMASTER TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: A B Warrington
D K Warrington





SECRETARY: A B Warrington





REGISTERED OFFICE: Europort Distribution Centre
Altofts Lane
Castleford
West Yorkshire
WF10 5PZ





REGISTERED NUMBER: 01011790 (England and Wales)





AUDITORS: BPR Audit Limited
Statutory Auditors
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

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

REVIEW OF BUSINESS
Following the group restructure in the previous year, in which the property we operate from was sold, the company was expected to incur increased rent costs and a fall in rental income. The company also experienced a reduction in turnover due to a significant contract not being renewed within the year. This has affected the gross margin, as a review of associated costs is still in progress post year end. As a business we continue to be challenged with increasing staff costs to ensure retention of staff.
We are however confident that improved profitability will return in the first quarter of 2024/25.

The business has invested in a new Management Information System for both the transport and storage departments. This will help streamline the business going forward and offer improved customer service and traceability.

Financial position at the reporting date
The company continues to invest in tangible fixed assets with additions of £1,195,151 in the year.

The detailed results for the year and financial position of the company are as shown in the annexed financial statements.

Business Relationships
We continue to be supported by a strong customer base and in return reciprocate this support.

People
The loyalty and commitment shown by the employees throughout the entire organisation remains key. Staff retention and length of service is a key factor in our customer retention success due to unwavering service levels.

We continue to face challenges recruiting Drivers which is a nationwide issue due to an ageing workforce.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and the execution of the company's strategy are subject to a number of risks. The key business risks affecting the company are:

Market share
Despite the company experiencing a sustained position this year in their market share, competition still
remains as ever the main risk. The company remains in a strong position to look forward to the future and increase our client base.

Maintenance of the company's fixed assets
In order to provide customers with the high level service they expect it is essential that the company's assets
are maintained to a high standard. The company manages this risk through planned maintenance
programmes for vehicles and other items of plant and through continued investment in its fleet.

Employee motivation
The company's employees are central to its operations. The company is committed to encouraging employee
involvement throughout the business to ensure that the workforce remain motivated and committed.

General
Other than factors outside the company's control, the directors are not aware of any significant risk which may
adversely impact on the company during the forthcoming financial year. In the view of the directors, the
performance of the company's business is primarily dependent upon maintaining a high level of service and
well maintained fleet and the directors intend to continue to optimise this position in the interests of all
stakeholders in the company.


VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

KEY PERFORMANCE INDICATORS
In order to achieve the growth in profitability and cash flow, strong financial management is carried out by the company. A number of key financial performance indicators are used as measures to ensure the company grows, remains financially strong to meet its obligations and invests in the future. The indicators are all drawn from the accounts and are shown below:


2024 2023
£    £   
Turnover 15,886,164 16,827,620
Gross profit margin 21.59% 23.33%
Operating profit 646,133 1,250,910
Shareholders funds 2,613,985 2,545,743


FUTURE DEVELOPMENTS
The company's intentions for the year to 30 September 2025 and beyond remain to be:

Further develop its staff, services and technology.

Engage further with its existing clients promoting cost and service efficiencies.

Attract and engage with new clients.

ON BEHALF OF THE BOARD:





A B Warrington - Secretary


25 February 2025

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

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

DIVIDENDS
The total distribution of dividends for the year ended 30 September 2024 was £347,166.

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

A B Warrington
D K Warrington

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

ON BEHALF OF THE BOARD:



A B Warrington - Secretary


25 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VIAMASTER TRANSPORT LIMITED

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

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

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

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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

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

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VIAMASTER TRANSPORT LIMITED


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

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

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VIAMASTER TRANSPORT LIMITED


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

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We designed procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures were capable of detecting irregularities, including fraud is detailed below:

To identify risks of material misstatement due to irregularities, including fraud (fraud risks) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures involved enquiring of the directors as to the company's policies and procedures to prevent and detect fraud, as well as whether they have knowledge of any actual, suspected or alleged fraud. We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards and considering our overall knowledge of the control environment, we performed procedures to address the risk of management override of controls, in particular the risk that management may be able to make inappropriate accounting entries. We concluded that there was limited opportunity for manipulation or management override of controls. We performed procedures including a review of journal entries to supporting documentation. We did not identify any additional fraud risks.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The company is subject to laws and regulations that directly affect the financial statements, including financial reporting and taxation legislation, and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and key management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

It is considered that our procedures are capable of detecting irregularities, including fraud. However, because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VIAMASTER TRANSPORT LIMITED


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




Martin Garrity FCA FCCA (Senior Statutory Auditor)
for and on behalf of BPR Audit Limited
Statutory Auditors
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

27 February 2025

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

TURNOVER 15,886,164 16,827,620

Cost of sales 12,456,620 12,901,016
GROSS PROFIT 3,429,544 3,926,604

Administrative expenses 2,783,411 2,770,480
646,133 1,156,124

Other operating income - 94,786
OPERATING PROFIT 4 646,133 1,250,910

Loss on sale of investment property 5 - 1,730,046
646,133 (479,136 )

Interest receivable and similar income 9,218 5,411
655,351 (473,725 )

Interest payable and similar expenses 6 99,813 117,366
PROFIT/(LOSS) BEFORE TAXATION 555,538 (591,091 )

Tax on profit/(loss) 7 140,130 (407,991 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

415,408

(183,100

)

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

415,408

(183,100

)

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 3,477,403 3,385,520
Investments 10 11 11
3,477,414 3,385,531

CURRENT ASSETS
Stocks 11 64,116 67,143
Debtors 12 2,153,171 2,709,815
Cash at bank 1,619,409 1,541,712
3,836,696 4,318,670
CREDITORS
Amounts falling due within one year 13 2,519,719 3,150,733
NET CURRENT ASSETS 1,316,977 1,167,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,794,391

4,553,468

CREDITORS
Amounts falling due after more than one
year

14

(1,420,388

)

(1,326,515

)

PROVISIONS FOR LIABILITIES 17 (760,018 ) (681,210 )
NET ASSETS 2,613,985 2,545,743

CAPITAL AND RESERVES
Called up share capital 18 30,000 30,000
Retained earnings 19 2,583,985 2,515,743
SHAREHOLDERS' FUNDS 2,613,985 2,545,743

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:




A B Warrington - Director



D K Warrington - Director


VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Non-distributable Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 October 2022 30,000 6,777,833 1,378,505 8,186,338

Changes in equity
Dividends - (5,457,495 ) - (5,457,495 )
Total comprehensive income - (183,100 ) - (183,100 )
Transfer of non-distributable
reserves - 1,378,505 (1,378,505 ) -
Balance at 30 September 2023 30,000 2,515,743 - 2,545,743

Changes in equity
Dividends - (347,166 ) - (347,166 )
Total comprehensive income - 415,408 - 415,408
Balance at 30 September 2024 30,000 2,583,985 - 2,613,985

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

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

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound.

The financial statements have been prepared using the going concern basis.

The current economic conditions present risks for all businesses. In response to such conditions, the
directors have carefully considered these risks, including an assessment of uncertainty on future
trading projections for a period of at least 12 months from the date of signing the financial statements,
and the extent to which they might affect the preparation of the financial statements on a going
concern basis.

Based on this assessment, the directors consider that the company maintains an appropriate level of
liquidity sufficient to meet the demands of the business including any capital and servicing obligations
of external debt liabilities.

In addition, the company's assets are assessed for recoverability on a regular basis, and the directors
consider that the company is not exposed to losses on these assets which would affect their decision
to adopt the going concern basis.

The directors have a reasonable expectation that the company has adequate resources to continue in
operational existence for the foreseeable future and that there are no material uncertainties that lead
to significant doubt upon the company's ability to continue as a going concern. In addition the
company has secure sales contracts in place. Thus the directors have continued to adopt the going
concern basis of accounting in preparing these financial statements.

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

The Statement of Cash Flows is included in the group accounts of Viamaster Holdings Limited.

Preparation of consolidated financial statements
The company is included in the accounts of its parent company, Viamaster Holdings Limited. These consolidated accounts are available from Companies House.

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

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of financial statements in compliance with FRS 102 requires the use of certain
critical accounting estimates. It also requires management to exercise judgement in applying the
company's accounting policies.

Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events.

In preparing these financial statements, the directors have had to make the following judgement:

Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives which are assessed annually by the directors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account

During the year depreciation of £931,094 (2023: £903,978) has been provided.
The net carrying amount of assets is £3,477,403 (2023: £3,385,520).

Turnover
Turnover is recognised in the accounts when the company obtains the right to consideration in exchange for performance and is stated at the net invoice value, excluding value added tax. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to that date based on the stage of completion of the contract activity at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% and 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are capitalised at cost.

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

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

Other financial instruments
The company does not have any financial instruments that would not be classed as 'basic'.

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

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

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

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

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

Investments
Investments where shares are publicly traded, or their fair value is reliably measurable, are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,579,229 4,544,791
Social security costs 492,827 493,240
Other pension costs 142,030 132,444
5,214,086 5,170,475

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

Drivers and support staff 113 118
Directors 2 2
115 120

2024 2023
£    £   
Directors' remuneration 189,402 182,739
Directors' pension contributions to money purchase schemes 33,620 31,519

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

Money purchase schemes 2 2

4. OPERATING PROFIT

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

2024 2023
£    £   
Hire of plant and equipment 82,669 111,900
Other operating leases 796,323 546,017
Depreciation - owned assets 271,064 311,398
Depreciation - assets on hire purchase contracts 660,030 592,580
Loss on disposal of fixed assets 53,432 226,283
Auditors' remuneration 16,250 15,000
Rents received - (79,968 )

5. EXCEPTIONAL ITEMS
2024 2023
£    £   
Loss on sale of investment property - (1,730,046 )

In 2023 the investment property was transferred to Europort Properties Limited as part of a group reorganisation.

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 453 98
Bank loan interest - 39,272
Other interest 115 6,798
Hire purchase interest 99,245 71,198
99,813 117,366

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 65,193 209,418
Overprovision in previous year (3,871 ) -
Total current tax 61,322 209,418

Deferred tax 78,808 (617,409 )
Tax on profit/(loss) 140,130 (407,991 )

UK corporation tax has been charged at 25% .

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

2024 2023
£    £   
Profit/(loss) before tax 555,538 (591,091 )
Profit/(loss) multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 22.008%)

138,885

(130,087

)

Effects of:
Expenses not deductible for tax purposes 5,115 15,552
Utilisation of tax losses - (2,201 )
Adjustments to tax charge in respect of previous periods (3,870 ) -
Application of different rates to timing differences - (291,255 )
Total tax charge/(credit) 140,130 (407,991 )

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 347,166 5,457,495

In 2023 year the total dividends included a one-off distribution in specie of £5,131,296 to Europort Properties Limited as part of a group reorganisation.

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 1,464,869 456,518 6,522,811 8,444,198
Additions 209,751 159,880 825,520 1,195,151
Disposals (119,100 ) (118,127 ) (1,265,822 ) (1,503,049 )
At 30 September 2024 1,555,520 498,271 6,082,509 8,136,300
DEPRECIATION
At 1 October 2023 1,120,228 346,505 3,591,945 5,058,678
Charge for year 90,657 32,923 807,514 931,094
Eliminated on disposal (76,658 ) (111,022 ) (1,143,195 ) (1,330,875 )
At 30 September 2024 1,134,227 268,406 3,256,264 4,658,897
NET BOOK VALUE
At 30 September 2024 421,293 229,865 2,826,245 3,477,403
At 30 September 2023 344,641 110,013 2,930,866 3,385,520

As at 30 September 2024 the net book value of motor vehicles held under hire purchase agreements totalled £2,384,146 (2023: £2,362,559) and the net book value of plant and machinery held under hire purchase agreements totalled £181,145 (2023: £26,123).

10. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 October 2023
and 30 September 2024 11
NET BOOK VALUE
At 30 September 2024 11
At 30 September 2023 11

11. STOCKS
2024 2023
£    £   
Raw materials and consumables 64,116 67,143

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,875,793 2,409,217
Other debtors - 60
Prepayments and accrued income 277,378 300,538
2,153,171 2,709,815

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 15) 782,017 750,805
Trade creditors 1,013,719 1,412,750
Taxation 65,193 209,418
Other taxes and social security 388,746 522,044
Other creditors 84,696 80,169
Accruals and deferred income 185,348 175,547
2,519,719 3,150,733

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 15) 1,420,388 1,326,515

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 884,811 829,394
Between one and five years 1,638,255 1,514,419
2,523,066 2,343,813

Finance charges repayable:
Within one year 102,794 78,589
Between one and five years 217,867 187,904
320,661 266,493

Net obligations repayable:
Within one year 782,017 750,805
Between one and five years 1,420,388 1,326,515
2,202,405 2,077,320

Non-cancellable operating leases
2024 2023
£    £   
Within one year 797,000 863,184
Between one and five years 3,188,000 3,188,000
In more than five years 6,575,250 7,372,250
10,560,250 11,423,434

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 2,202,405 2,077,320

The hire purchase contracts are secured against the assets to which they relate.

Svenska Handelsbanken AB hold security via a floating charge and a cross guarantee over the assets of the Viamaster Holdings Limited group.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 760,018 681,210

Deferred
tax
£   
Balance at 1 October 2023 681,210
Provided during year 78,808
Balance at 30 September 2024 760,018

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary £1 30,000 30,000

19. RESERVES
Retained
earnings
£   

At 1 October 2023 2,515,743
Profit for the year 415,408
Dividends (347,166 )
At 30 September 2024 2,583,985

20. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 326,881

VIAMASTER TRANSPORT LIMITED (REGISTERED NUMBER: 01011790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

21. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2024 2023
£    £   
Sales - 6,841
Rents and recharges 637,729 624,385
Sale of properties - 7,151,250

Entities in which the directors have a non controlling interest in
2024 2023
£    £   
Sales and recharges 345,531 491,559
Purchases and recharges 58,763 101,605
Amount due from related parties 34,111 68,259

22. HOLDING COMPANY

The company is a wholly owned subsidiary of Viamaster Holdings Limited.

Throughout the year the company was controlled by its directors.