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Registered number:
FOR THE YEAR ENDED 31 MARCH 2025
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MAINFREIGHT UK LTD
COMPANY INFORMATION
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MAINFREIGHT UK LTD
CONTENTS
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MAINFREIGHT UK LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The director presents his report and financial statements for the year ended 31 March 2025
Mainfreight Air and Ocean place a strong emphasis on customer service and collaboration. The Mainfreight London branches has established relationships with major shipping lines, and global partners. This enables us to negotiate competitive rates, secure capacity, and provide a wide range of shipping options to meet our customers' specific requirements. Whether it's full container loads (FCL), less than container loads (LCL), consolidations, Mainfreight Air and Ocean strive to find the most cost-effective and efficient solutions for their clients. Expansion of Client Base: Manchester has successfully attracted and onboarded a diverse range of new clients from various industries. Through targeted marketing efforts and exceptional service delivery, we have built strong relationships and gained the trust of these clients. This expansion of our client base has been a driving force behind our growth. Our warehouse division based Coalville, Leicestershire continues to have progressive growth and develop links to the local community through personnel recruitment. The site has a storage capacity of 8,500 m2. From this warehouse a wide range of services is provided: best-in-class storage and order picking processes, various value-adding activities such as technical quality control, extensive return processes and transport management. The warehouse is strategically positioned right in the middle of the United Kingdom. 90% of the population can be reached within a four hour journey by road and with close links to major transport infrastructure, it positions us perfectly to provide a full supply chain service to our customers with a presence in the United Kingdom.
As of April 2024, the transport division opened in the UK. The operation is based within the Coalville Warehouse. This addition to the Mainfreight UK entity has strengthened the Mainfreight European transport network by serving as a cross-dock hub and increasing the brand presence on UK roads. The focus is on growing shipment volumes from the UK into Europe, optimising utilization of the empty trucks leaving the UK, and improving margins. Since November 2024, the Transport division has grown from one to four trucks and are keen to continue growing whilst providing a high quality service to their customers. Collectively, the growth in our client base has translated into a substantial increase in revenue and profitability. Our team's diligent efforts to optimize operations, negotiate favourable contracts with carriers, and implement cost-effective strategies have played a crucial role in boosting our financial performance. Mainfreight UK have collaboration with strategic partners, such as shipping lines, airlines, and logistics providers, has been instrumental in expanding our network and service capabilities. By forging mutually beneficial partnerships, we have gained access to new markets, optimized transportation routes, and offered comprehensive end-to-end solutions to our clients. Most importantly to us, our team of dedicated professionals has been vital to our success. We have focused on nurturing and developing talent within the organization, providing training programs, and creating a positive work environment. This commitment to team growth and retention has resulted in a highly skilled and motivated workforce, contributing to our overall business growth.
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MAINFREIGHT UK LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The direction of the economy and how much people can afford to spend could have a direct impact of the productivity of the operation within the UK Warehouse for example. The costs of warehousing and employing team members are rising faster therefore customers may be hesitant to pay our prices when increasing the amount for our services. Collectively, the Air and Ocean branches in Manchester and London Ocean have found economic volatility. The freight forwarding industry is closely tied to global trade and economic conditions. Economic fluctuations, recessions, or political instability in key markets can impact shipping volumes, leading to fluctuations in demand and potential revenue decline. There has been a dependence on key clients. For example, Manchester has a limited client base, and your success may depend heavily on a few key clients. Any potential loss of these clients or their reduced shipping needs could have a significant impact on your revenue and overall sustainability. Freight forwarding involves managing complex supply chains that are susceptible to various disruptions, such as natural disasters, port strikes, infrastructure failures, or political unrest. Such disruptions can lead to delays, additional costs, and damage to your reputation if not managed effectively. The freight forwarding industry is subject to numerous regulations, including customs regulations, trade sanctions, and safety requirements. Non-compliance with these regulations can lead to penalties, delays, loss of licenses, and reputational damage. Ensuring a robust compliance framework and staying updated with changing regulations is crucial.
Mainfreight UK report weekly profit and loss accounts to the central office in EU, this consists of the total income generated from freight forwarding services as a primary financial KPI. Monitoring revenue growth over time provides insight into the business's overall financial performance and its ability to attract and retain clients. The gross profit margin is the percentage of revenue remaining after deducting the direct costs associated with providing services, such as carrier fees, customs duties, and transportation costs. Monitoring and improving the gross profit margin helps assess the business's profitability and efficiency in managing costs. The net profit margin represents the percentage of revenue that remains after deducting all operating expenses, including indirect costs such as salaries, marketing, rent, and administrative expenses. It reflects the overall profitability of the business and its ability to generate earnings. Internal KPIs that are measurable for branch of the year and awards. These include; Cash flow monitoring, accounts payable/receivable Return on investment, number of credits.
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MAINFREIGHT UK LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Through targeted marketing efforts and exceptional service delivery, we have built strong relationships and gained the trust of these clients. This expansion of our client base has been a driving force behind our growth . The growth in our client base has translated into a substantial increase in revenue and profitability. Our team's diligent efforts to optimize operations, negotiate favourable contracts with carriers, and implement cost-effective strategies have played a crucial role in boosting our financial performance. Collaboration with strategic partners, such as shipping lines, airlines, and logistics providers, has been instrumental in expanding our network and service capabilities. By forging mutually beneficial partnerships, we have gained access to new markets, optimized transportation routes, and offered comprehensive end-to-end solutions to our clients. Our team of dedicated professionals has been vital to our success. We have focused on nurturing and developing talent within the organization, providing training programs, and creating a positive work environment. This commitment to team growth and retention has resulted in a highly skilled and motivated workforce, contributing to our overall business growth.
The London branches have expanded their services to cover additional regions or countries. London's strategic location makes it a great base for expanding into Europe and beyond. Evaluating the market demand, establishing partnerships with local logistics providers, and ensuring compliance with international shipping regulations. There has been an embrace of technology to optimize operations and improve efficiency. Investment in transportation management systems (TMS) and warehouse management systems (WMS) to streamline processes such as route planning, tracking, and inventory management. Implementing automated systems can reduce errors, increase visibility, and enhance customer satisfaction. London have explored new service offerings that align with the evolving needs of your customers. Diversification can help attract new clients and differentiate your company from competitors. As environmental concerns grow, focusing on sustainability measures has been a big deal. Investing in fuel-efficient vehicles or consider alternative fuel options, such as electric or hybrid vehicles, to reduce carbon emissions. Additionally, implement eco-friendly packaging solutions and adopt sustainable practices in your warehouses and offices.
This report was approved by the board and signed on its behalf.
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MAINFREIGHT UK LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
The profit for the year, after taxation, amounted to £1,191,991 (2024 - £1,033,249).
No dividends were declared for the year ended 31 March 25.
The directors who served during the year were:
The Company has strong market position and growth is expected in the coming years.
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MAINFREIGHT UK LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
There have been no significant events affecting the Company since the year end.
The auditors, Desaur LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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MAINFREIGHT UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MAINFREIGHT UK LTD
We have audited the financial statements of Mainfreight Uk Ltd (the 'Company') for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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MAINFREIGHT UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MAINFREIGHT UK LTD (CONTINUED)
The other information comprises the information included in the annual report other than the financial statements and our Auditors' 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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.
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MAINFREIGHT UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MAINFREIGHT UK LTD (CONTINUED)
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 Auditors' 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.
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:
Based on our understanding of the company and industry, we identified the principal risks of non-compliance with laws and regulations. We also considered those laws and regulations that have both a direct and non-direct impact on the financial statements. Audit procedures performed included: - Enquiring with management including consideration of known or suspected instances of non- compliance with laws and regulation and fraud. - Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
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 Auditors' 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 Auditors' 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.
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MAINFREIGHT UK LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MAINFREIGHT UK LTD (CONTINUED)
for and on behalf of
Chartered Certified Accountants
Statutory Auditor
5 Margaret Road
Essex
RM2 5SH
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MAINFREIGHT UK LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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MAINFREIGHT UK LTD
REGISTERED NUMBER: 10067164
BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 22 form part of these financial statements.
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MAINFREIGHT UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Mainfreight UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Nexus Close, Feltham, Middlesex, UK, TW14 0AF.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A.
This information is included in the consolidated financial statements of Mainfreight Holding BV as at 31 March 2025 and these financial statements may be obtained from its registered office, Industriestraat 12, P O box 18, 7040 AA's- Heerenberg,The Netherlands.
At 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.
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
6.Taxation (continued)
The company's future tax expense and effective tax rate will be affected by changes in the tax legislation.
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11.Deferred taxation (continued)
The company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £80,746 (2024 - £92,151) Contibutions totalling £13,020 (2024- £14,718) were payable to the fund at the balance sheet date and are included in creditors.
14.Other financial commitments
The company has provided a guarantee to HMRC for duty and vat deferment.
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MAINFREIGHT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Parent company is Mainfreight Holding BV and its registered office is Industriestraat 12, P O box 18, 7040 AA's- Heerenberg, The Netherlands.
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