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Registration number: 00819052

John Hackling (Transport) Limited

Annual Report and Financial Statements

for the Year Ended 30 September 2024

 

John Hackling (Transport) Limited

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Statement of Directors' Responsibilities

4

Independent Auditor's Report

5 to 7

Profit and Loss Account

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11 to 19

 

John Hackling (Transport) Limited

Company Information

Directors

K J Hackling

D Hackling

J Hackling

D K Hackling

K J Field

S A Mitchell

A D Hackling-O'Driscoll

Registered office

Hackling House
Bourton Industrial Park
Bourton-on-the-Water
Cheltenham
GL54 2EP

Bankers

Barclays Bank PLC
PO Box 299
Birmingham
Cheltenham
B1 3PF

Auditors

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

John Hackling (Transport) Limited

Strategic Report for the Year Ended 30 September 2024

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

Principal activity

The principal activity of the company is haulage contractors and warehousing.

Fair review of the business

The results for the year which are set out in the profit and loss account show turnover of £15,477,000 (2023- £15,913,567) and an operating profit of £48,180 (2023 - £450,262). At 30 September 2024 the company had net assets of £5,079,295 (2023 - £5,009,277). The directors consider the performance for the year and the financial position at the year end to be satisfactory.

A dividend of £70,000 was paid to the company's parent in the year (2023: 389,000).

Key performance indicators

Given the nature of the business, the company's directors are of the opinion that key performance indicators are important. The company uses a number of indicators to monitor and improve the development, performance and position of the business. Indicators are reviewed and altered to meet changes in the internal and external environments.

Principal risks and uncertainties

The management of the company and the execution of the company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the company are considered to relate to competition from other national haulage contractors and changes in external factors which influence the company's cost base, particularly in respect of fuel prices.

Financial instruments

The company does not actively use financial instruments as part of its financial risk management. It is exposed to the usual credit risk and cash flow risk selling on credit and manages this through credit control procedures.

Going concern

In accordance with Financial Reporting Council's 'Going Concern and Liquidity Risk; Guidance for Directors of UK Companies 2006', the directors of all companies are now required to provide disclosures regarding the adoption of going concern basis of accounting.

The company has sufficient financial resources available and is currently trading profitably and generating cash. The directors believe that the company has sufficient resources to continue in operational existence for the forseeable future and have continued to adopt the going concern basis in preparing the accounts.

In making the current year's assessment the Directors have considered the available cash reserves and other facilities at the point of approving the financial statements and reviewed forecasts.

Approved by the Board on 23 June 2025 and signed on its behalf by:


S A Mitchell
Director

 

John Hackling (Transport) Limited

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

K J Hackling

D Hackling

J Hackling

D K Hackling

K J Field

S A Mitchell

A D Hackling-O'Driscoll

Future developments

The external commercial environment was expected to remain competitive during 2025, however the volitility of fuel prices had, and will continue for some time to have, a significant impact on results. Actions taken by the company put the company in a good position to continue to react and operate while monitoring the situation.

Disclosure of information to the auditors

Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

Hazlewoods have expressed their willingness to continue in office.

Approved by the Board on 23 June 2025 and signed on its behalf by:


S A Mitchell
Director

 

John Hackling (Transport) Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities 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:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

 

John Hackling (Transport) Limited

Independent Auditor's Report to the Members of John Hackling (Transport) Limited

Opinion

We have audited the financial statements of John Hackling (Transport) Limited (the 'company') for the year ended 30 September 2024, which comprise the Profit and Loss Account, 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 auditor 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 original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

 

John Hackling (Transport) Limited

Independent Auditor's Report to the Members of John Hackling (Transport) Limited

Matters on which we are required to report by exception

In the light of our 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 and the Directors' Report.

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 4, 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.

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

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

We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those 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.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud;

 

John Hackling (Transport) Limited

Independent Auditor's Report to the Members of John Hackling (Transport) Limited

enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and

reading minutes of meetings of those charged with governance.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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

Use of this 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.





Ryan Hancock (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor

Staverton Court
Staverton
Cheltenham
GL51 0UX

23 June 2025

 

John Hackling (Transport) Limited

Profit and Loss Account for the Year Ended 30 September 2024

Note

2024
£

2023
£

Turnover

3

15,477,000

15,913,567

Cost of sales

 

(11,009,050)

(10,926,993)

Gross profit

 

4,467,950

4,986,574

Administrative expenses

 

(4,419,770)

(4,536,312)

Operating profit

48,180

450,262

Other interest receivable and similar income

22,807

21,427

Interest payable and similar expenses

4

-

(300)

   

22,807

21,127

Profit before tax

 

70,987

471,389

Tax on profit

8

(969)

(83,055)

Profit for the financial year

 

70,018

388,334

The above results were derived from continuing operations.

 

John Hackling (Transport) Limited

(Registration number: 00819052)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

9

56,000

56,000

Current assets

 

Stocks

10

69,471

153,526

Debtors

11

5,325,663

5,649,657

Cash at bank and in hand

 

886,326

1,076,183

 

6,281,460

6,879,366

Creditors: Amounts falling due within one year

13

(1,334,372)

(1,813,030)

Net current assets

 

4,947,088

5,066,336

Total assets less current liabilities

 

5,003,088

5,122,336

Creditors: Amounts falling due after more than one year

13

-

(115,271)

Provisions for liabilities

6,207

2,212

Net assets

 

5,009,295

5,009,277

Capital and reserves

 

Called up share capital

9,000

9,000

Retained earnings

5,000,295

5,000,277

Shareholders' funds

 

5,009,295

5,009,277

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 


S A Mitchell
Director

 

John Hackling (Transport) Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Retained earnings
£

Total
£

At 1 October 2023

9,000

5,000,277

5,009,277

Profit for the year

-

70,018

70,018

Dividends

-

(70,000)

(70,000)

At 30 September 2024

9,000

5,000,295

5,009,295

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

9,000

5,000,943

5,009,943

Profit for the year

-

388,334

388,334

Dividends

-

(389,000)

(389,000)

At 30 September 2023

9,000

5,000,277

5,009,277

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hackling House
Bourton Industrial Park
Bourton-on-the-Water
Cheltenham
GL54 2EP

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption under FRS102:
• disclosures in respect of financial instruments as a result of these being disclosed in the publicly available Group accounts;
• the requirements of Section 33 Related Party Disclosures paragraph 33.7 and;
• the requirements of Section 7 Statement of Cash Flows.
 

Critical accounting 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 amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future period.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Revenue is recognised when the service is provided and significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tax

The tax expense for the period comprises of current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Investments

Investments in unlisted equity share which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to and sell.

The cost of finished goods includes cost of purchase and other costs that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividends distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when, there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

 

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

 

3

Turnover

The analysis of the company's Turnover for the year from continuing operations, which were all derived from UK operations, is as follows:

2024
£

2023
£

Haulage

13,442,204

13,190,213

Storage and handling

1,982,806

2,699,023

Other

51,990

24,331

15,477,000

15,913,567

 

4

Interest payable and similar expenses

2024
£

2023
£

Interest expense on other finance liabilities

-

300

 

5

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

4,998,911

5,193,152

Social security costs

516,874

524,165

Pension costs, defined contribution scheme

213,268

216,272

5,729,053

5,933,589

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Direct labour

97

104

Administration

33

32

Directors

4

4

134

140

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

 

6

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

280,017

260,603

Contributions paid to money purchase schemes

81,064

88,007

361,081

348,610

During the year the number of directors who were receiving benefits and share incentives was as follows:

2024
No.

2023
No.

Accruing benefits under money purchase pension scheme

4

4

In respect of the highest paid director:

2024
£

2023
£

Remuneration

97,057

99,261

 

7

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

21,600

20,600


 

8

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

18,960

118,345

UK corporation tax adjustment to prior periods

(13,996)

(33,078)

4,964

85,267

Deferred taxation

Arising from origination and reversal of timing differences

(3,995)

(1,337)

Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods

-

(875)

Total deferred taxation

(3,995)

(2,212)

Tax expense in the income statement

969

83,055

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 25% (2023 - 19%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

70,987

471,389

Corporation tax at standard rate

17,747

103,744

Decrease in UK and foreign current tax from adjustment for prior periods

(13,996)

(33,078)

Effect of revenues exempt from taxation

(3,867)

(572)

Effect of expense not deductible in determining taxable profit (tax loss)

1,487

13,996

Tax decrease from other tax effects

(402)

(1,035)

Total tax charge

969

83,055

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Short term timing differences

6,207

6,207

2023

Liability
£

Short term timing differences

2,212

2,212

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

 

9

Other financial assets

Unlisted investments
£

Cost or valuation

At 1 October 2023 and 30 September 2024

56,000

 

10

Stocks

2024
£

2023
£

Consumables

69,471

153,526

 

11

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

2,241,472

2,200,742

Amounts owed by related parties

19

2,806,252

3,203,756

Other debtors

 

7,429

11,607

Prepayments

 

270,510

233,552

   

5,325,663

5,649,657

 

12

Cash and cash equivalents

2024
£

2023
£

Cash on hand

49

348

Cash at bank

886,277

1,075,835

886,326

1,076,183

 

13

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

14

-

217,801

Trade creditors

 

744,906

958,260

Social security and other taxes

 

526,266

473,933

Other payables

 

29,111

18,241

Accruals

 

29,125

26,450

Corporation tax liability

8

4,964

118,345

 

1,334,372

1,813,030

Due after one year

 

Loans and borrowings

14

-

115,271

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

 

14

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

217,801

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

115,271

Bank borrowings

Bank Treasury Loan was denominated in pounds sterling with a nominal interest rate of 1.97%, and the final instalment was due on 13 March 2025 but was settled during the year. The carrying amount at year end is £Nil (2023 - £333,072).

 

15

Pension and other schemes

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £213,268 (2023 - £216,272).

 

16

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

9,000

9,000

9,000

9,000

       
 

17

Obligations under operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

12,276

16,380

Later than one year and not later than five years

5,374

17,650

17,650

34,030

The amount of non-cancellable operating lease payments recognised as an expense during the year was £16,380 (2023 - £16,830).

 

John Hackling (Transport) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

 

18

Dividends

2024
 £

2023
 £

Dividends paid

70,000

389,000

 

19

Related party transactions

Summary of transactions with key management

Key management personnel are considered to be the directors of the company and key management personnel compensation is disclosed in note 6 to the financial statements.
 

Summary of transactions with parent

Total management charges from John Hackling (Holdings) Ltd. for the year amount to £1,690,329 (2023 - £1,726,713).

Transactions with related parties

2024

2023

£

£

Sale of goods

662,040

106,124

Purchase of goods

740,609

698,814

Amounts receivable

62,726

76,075

Amounts payable

77,188

80,450