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REGISTERED NUMBER: 01073358 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 30 November 2024

for

A. Hingley Transport
(Brierley Hill) Limited

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


A. Hingley Transport
(Brierley Hill) Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr A Hingley
Mr R Hingley
Mr D T Smith
Mrs A J Parkes
Mr K D Hingley



SECRETARY: Mrs A J Parkes



REGISTERED OFFICE: 4 Talbots Lane
Brierley Hill
West Midlands
DY5 2YX



REGISTERED NUMBER: 01073358 (England and Wales)



INDEPENDENT AUDITORS: Lewis Smith & Co.
Chartered Certified Accountants
Statutory Auditors
The Old Doctor's House
74 Grange Road
Dudley
West Midlands
DY1 2AW



BANKERS: Lloyds Bank PLC
134 High Street
Stourbridge
West Midlands
DY8 1DS

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Strategic Report
for the Year Ended 30 November 2024

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

REVIEW OF BUSINESS
Trading activity turnover for 2024 was almost identical compared to 2023 while our gross margin percentage increased slightly from 22.80% to 23.07%.

Our customers activity remained stable through the year and we were able to increase pricing to customers in the second half of the year which allowed us to increase our gross margins and keep the turnover stable as noted above.

Considering the effects of inflation in 2023 and the early part of 2024 on our cost base and the positive impact of reduced fuel costs through the second half of the year the result is acceptable to us.

In summary our customers have maintained activity throughout the year resulting in turnover reducing slightly to £12,202,530 (2023 - £12,203,868) and gross profit increasing to £2,815,661 (2023 - £2,782,401), gross profit margin increasing as mentioned above.

Indirect expenses have fallen slightly. This has resulted in profits before tax showing £449,621 (2023 - £437,172).

Our tractor unit fleet size remains broadly the same as 2023 again supported by our subcontractors with customer activity remaining broadly the same as 2023.

Our trailer repair and maintenance operation continues to be cost effective to the business verses an alternative outsource option for our own fleet of trailers. However, due to Government changes involving safety inspections and additional brake tests on trailers under inspection we will see additional cost for our trailer R & M from April 2025 onwards.

Inflationary pressures on our cost based seen in 2023 eased during the this year but we are now mindful once again of additional costs increasing being applied via the October 2024 mini budget announcement affecting employment costs in April 2025, with a further budget expected in March 2025.

On this basis once again with the additional employment costs in April 2025 and other direct cost impacts we will be negotiating with our customers in early 2025 in order to mitigate the effects of such to our business performance. It would appear that 2025 will be another challenging year.

PRINCIPAL RISKS AND UNCERTAINTIES
Our industry remains highly competitive with fuel and labour cost forming the largest percentage of our cost base, any upwards shift in either can result in erosion of margins and subsequent profits.

We aim to mitigate such increases with continued use of fuel monitors which allows us to recover fuel price movements from our contracted customers, in addition to reviewing our other base costs of pricing using the RPI index as a marker for negotiations with our customers.

We continue to pursue opportunities both for organic growth with existing customers and new business activities which fit with our business model in order to offset and mitigate any negative external cost pressures.


A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Strategic Report
for the Year Ended 30 November 2024

CREDIT RISK
Credit risk refers to the risk that a trade debtor will default on its contractual obligation to settle its debt. Management have a credit policy in place that constantly reviews debtors and their limits based on historic trends and credit checks along with an insurance policy on key customers should they default on their debt.

CASH FLOW AND LIQUIDITY RISK
Liquidity risk is the risk that the company may not be able to meet its financial obligations as they fall due. The company ensures that there are sufficient levels of committed facilities, cash and cash equivalents to ensure that the company is, at all times, able to meet its financial commitments. Short term lending facilities are in place from the company bankers in the form of a discounting facility. Longer term capital acquisitions are financed by long term hire purchase and bank loan agreements. Liquidity risk is managed by continuous monitoring of forecast and actual cash flows.

ON BEHALF OF THE BOARD:





Mr A Hingley - Director


30 April 2025

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Report of the Directors
for the Year Ended 30 November 2024

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of haulage contractors and trailer maintenance.

DIVIDENDS
An interim dividend of £14.71 per share was paid on 30 November 2024. The directors recommend that no final dividend is to be paid.

Therefore, the total distribution of dividends for the year ended 30 November 2024 will be £1,147.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 December 2023 to the date of this report unless otherwise stated.

The beneficial interests of the directors holding office at 30 November 2024 in the shares of the company, according to the register of directors' interests, were as follows:

1.12.23
or date of
appointment
30.11.24 if later
Ordinary shares of £1 each
Mr A Hingley 34 34
Mr R Hingley 33 33
Mr D T Smith - appointed 22.2.24 - -
Mrs A J Parkes - appointed 22.2.24 - -
Mr K D Hingley - appointed 22.2.24 11 11

These directors did not hold any non-beneficial interests in the shares of the company.

POLITICAL DONATIONS AND EXPENDITURE
The donations in the accounts are to local charities. No political donations have been made.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.


A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Report of the Directors
for the Year Ended 30 November 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Lewis Smith & Co. were appointed during the year and will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr A Hingley - Director


30 April 2025

Report of the Independent Auditors to the Members of
A. Hingley Transport
(Brierley Hill) Limited

Opinion
We have audited the financial statements of A. Hingley Transport (Brierley Hill) Limited (the 'company') for the year ended 30 November 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 November 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
A. Hingley Transport
(Brierley Hill) 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 pages four and five, 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
A. Hingley Transport
(Brierley Hill) 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.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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
A. Hingley Transport
(Brierley Hill) 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.




Mr A J Smith FCCA (Senior Statutory Auditor)
for and on behalf of Lewis Smith & Co.
Chartered Certified Accountants
Statutory Auditors
The Old Doctor's House
74 Grange Road
Dudley
West Midlands
DY1 2AW

30 April 2025

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Statement of Comprehensive Income
for the Year Ended 30 November 2024

30.11.24 30.11.23
Notes £    £   

TURNOVER 3 12,202,530 12,203,868

Cost of sales 9,386,869 9,421,467
GROSS PROFIT 2,815,661 2,782,401

Administrative expenses 2,383,689 2,457,532
431,972 324,869

Other operating income 4 46,946 128,483
OPERATING PROFIT 6 478,918 453,352


Interest payable and similar expenses 7 29,297 16,180
PROFIT BEFORE TAXATION 449,621 437,172

Tax on profit 8 109,492 151,018
PROFIT FOR THE FINANCIAL YEAR 340,129 286,154

OTHER COMPREHENSIVE INCOME
Unrealised gain on freehold property 6,310 62,398
Income tax relating to other comprehensive
income

-

(15,987

)
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

6,310

46,411
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

346,439

332,565

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 1,553,866 1,708,919
Investment property 12 372,120 360,510
1,925,986 2,069,429

CURRENT ASSETS
Stocks 13 27,907 30,195
Debtors 14 2,605,588 2,457,293
Cash at bank and in hand 15 1,540,398 1,675,045
4,173,893 4,162,533
CREDITORS
Amounts falling due within one year 16 2,181,561 2,424,258
NET CURRENT ASSETS 1,992,332 1,738,275
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,918,318

3,807,704

CREDITORS
Amounts falling due after more than one year 17 (226,060 ) (422,246 )

PROVISIONS FOR LIABILITIES 20 (322,804 ) (361,296 )
NET ASSETS 3,369,454 3,024,162

CAPITAL AND RESERVES
Called up share capital 21 78 78
Revaluation reserve 57,947 51,637
Capital redemption reserve 22 22
Retained earnings 3,311,407 2,972,425
SHAREHOLDERS' FUNDS 3,369,454 3,024,162

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





Mr A Hingley - Director


A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

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

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 December 2022 78 2,688,565 5,226 22 2,693,891

Changes in equity
Dividends - (2,294 ) - - (2,294 )
Total comprehensive income - 286,154 46,411 - 332,565
Balance at 30 November 2023 78 2,972,425 51,637 22 3,024,162

Changes in equity
Dividends - (1,147 ) - - (1,147 )
Total comprehensive income - 340,129 6,310 - 346,439
Balance at 30 November 2024 78 3,311,407 57,947 22 3,369,454

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Cash Flow Statement
for the Year Ended 30 November 2024

30.11.24 30.11.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 243,501 658,006
Interest element of hire purchase payments
paid

(29,297

)

(16,180

)
Tax paid 11,226 (112,851 )
Net cash from operating activities 225,430 528,975

Cash flows from investing activities
Purchase of tangible fixed assets (163,461 ) (734,701 )
Sale of tangible fixed assets 96,500 126,350
Net cash from investing activities (66,961 ) (608,351 )

Cash flows from financing activities
New hire purchase contracts in year - 605,693
Capital repayments in year (287,452 ) (210,821 )
Amount introduced by directors 133,747 206,884
Amount withdrawn by directors (138,264 ) (171,943 )
Equity dividends paid (1,147 ) (2,294 )
Net cash from financing activities (293,116 ) 427,519

(Decrease)/increase in cash and cash equivalents (134,647 ) 348,143
Cash and cash equivalents at beginning of
year

2

1,675,045

1,326,902

Cash and cash equivalents at end of year 2 1,540,398 1,675,045

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Cash Flow Statement
for the Year Ended 30 November 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.11.24 30.11.23
£    £   
Profit before taxation 449,621 437,172
Depreciation charges 249,703 221,114
Profit on disposal of fixed assets (19,289 ) (25,271 )
Gain on revaluation of fixed assets (11,600 ) (86,483 )
Finance costs 29,297 16,180
697,732 562,712
Decrease in stocks 2,288 8,184
(Increase)/decrease in trade and other debtors (148,293 ) 114,688
Decrease in trade and other creditors (308,226 ) (27,578 )
Cash generated from operations 243,501 658,006

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 November 2024
30.11.24 1.12.23
£    £   
Cash and cash equivalents 1,540,398 1,675,045
Year ended 30 November 2023
30.11.23 1.12.22
£    £   
Cash and cash equivalents 1,675,045 1,326,902


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.23 Cash flow At 30.11.24
£    £    £   
Net cash
Cash at bank and in hand 1,675,045 (134,647 ) 1,540,398
1,675,045 (134,647 ) 1,540,398
Debt
Finance leases (703,701 ) 289,019 (414,682 )
(703,701 ) 289,019 (414,682 )
Total 971,344 154,372 1,125,716

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

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

1. STATUTORY INFORMATION

A. Hingley Transport (Brierley Hill) 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, except for any modification to fair value basis for certain financial instruments reported below.

The presentational currency of the financial statements is Pound Sterling (£), rounded to the nearest £1.

The financial statements have been prepared on a going concern basis.

Significant judgements and estimates
Preparation of the financial statements requires management to make judgements and estimates based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. The items in the financial statements where these estimates and judgements have been made are:

a) Useful economic lives of tangible fixed assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives are re-assessed annually. They are amended where necessary to reflect current estimates based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

b) Stock and work in progress provisions
It is necessary to consider the recoverability of the cost of stocks and work in progress. When calculating any provision required, management consider the nature and condition of the items as well as assessing the saleability of finished goods and the future usage of raw materials.

c) Impairment of debtors
The company make a judgement of the recoverability of trade and other debtors. When assessing any potential impairment, factors such as the ageing profile and historical experience are considered.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of value added tax and other sales taxes. Transport sales are recognised on delivery of goods. Rental income arising from leases on investment and leasehold property is accounted for on a straight line basis over the lease term. Interest received is recognised on receipt.

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

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.
Improvements to freehold property - 10% on cost
Tractor units and trailers - 25% on reducing balance, 15% on reducing balance and 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

Tangible fixed assets are stated under the cost model at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it be capable of operating.

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised within 'operating profit' in the income statement.

Freehold Buildings have been depreciated at Nil% rate.
Depreciation has not been provided on land.

Tractor units and trailers acquired are depreciated on a monthly basis pro rata from the month of acquisition.

Freehold Building are held at fair value, based on the current market value of the property.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock and work in progress are valued at the lower of cost and selling price less cost to sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Work in progress includes the cost of direct materials and labour plus attributable overheads based on normal levels of activity.

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.


A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Current and deferred tax
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 plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plans are held separately from the company in independently administered funds.

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at transaction cost. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event and it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. The provision is charged to the income statement in the year that the company becomes aware of the obligation taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,they are measured at amortised cost using the effective interest rate method, less impairment.If an arrangement constitutes a finance transaction it is measured at present value.

Going Concern
After reviewing forecasts and projections, the directors believe that there will be adequate resources to continue in operation existence for the foreseeable future and continues to adopt the going concern basis in its preparation of its financial statements.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

30.11.24 30.11.23
£    £   
Haulage and transport 12,113,078 11,863,573
Trailer repairs & maintenance 61,446 215,890
Other sales 28,006 124,405
12,202,530 12,203,868

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. TURNOVER - continued

An analysis of turnover by geographical market is given below:

30.11.24 30.11.23
£    £   
United Kingdom 12,202,530 12,203,868
12,202,530 12,203,868

4. OTHER OPERATING INCOME
30.11.24 30.11.23
£    £   
Rents received 35,346 42,000
Gain/loss on revaluation of assets 11,600 86,483
46,946 128,483

5. EMPLOYEES AND DIRECTORS
30.11.24 30.11.23
£    £   
Wages and salaries 3,451,988 3,539,430
Social security costs 380,827 385,661
Other pension costs 118,269 130,953
3,951,084 4,056,044

The average number of employees during the year was as follows:
30.11.24 30.11.23

Drivers and mechanics 56 59
Management and administration 20 20
76 79

30.11.24 30.11.23
£    £   
Directors' remuneration 740,037 568,000
Directors' pension contributions to money purchase schemes 30,667 14,000

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

Money purchase schemes 4 2

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
30.11.24 30.11.23
£    £   
Emoluments etc 279,333 350,000
Pension contributions to money purchase schemes 8,333 10,000

The directors are the only key management personnel. Between them they are responsible for all the key decisions for the business.

6. OPERATING PROFIT

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

30.11.24 30.11.23
£    £   
Hire of plant and machinery 964 1,895
Other operating leases 10,353 10,718
Depreciation - owned assets 113,696 84,310
Depreciation - assets on hire purchase contracts 136,007 136,803
Profit on disposal of fixed assets (19,289 ) (25,271 )
Vehicle leasing and hire 1,201,941 1,059,126

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30.11.24 30.11.23
£    £   
Hire purchase interest 29,297 16,180

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.11.24 30.11.23
£    £   
Current tax:
UK corporation tax 150,487 (10,823 )
Prior year tax adjustment (403 ) -
Total current tax 150,084 (10,823 )

Deferred tax (40,592 ) 161,841
Tax on profit 109,492 151,018

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. TAXATION - continued

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

30.11.24 30.11.23
£    £   
Profit before tax 449,621 437,172
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

112,405

83,063

Effects of:
Expenses not deductible for tax purposes 390 25,386
Income not taxable for tax purposes (7,722 ) (21,471 )
Capital allowances in excess of depreciation - (97,801 )
Depreciation in excess of capital allowances 45,414 -
Adjustments to tax charge in respect of previous periods (403 ) -
Deferred tax movement (40,592 ) 161,841
Total tax charge 109,492 151,018

Tax effects relating to effects of other comprehensive income

30.11.24
Gross Tax Net
£    £    £   
Unrealised gain on freehold property 6,310 - 6,310

30.11.23
Gross Tax Net
£    £    £   
Unrealised gain on freehold property 62,398 (15,987 ) 46,411

9. DIVIDENDS
30.11.24 30.11.23
£    £   
Interim ordinary dividends 1,147 2,294

10. PROVISION FOR CONTINGENT ASSETS

At the end of the year a claim had been made in favour of the company, against European Truck Manufacturers, as part of the Truck Cartel Legal Action, details can be found at https://www.truckcartellegalaction.com/.

The directors believe as a similar claim has been successful within the EU that the possibility of compensation is high. However at present no monetary value can be placed on the claim, although the directors believe the value is in excess of £400,000

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

11. TANGIBLE FIXED ASSETS
Improvements
Freehold to Tractor
land and freehold units and Plant and
Buildings property trailers machinery
£    £    £    £   
COST OR VALUATION
At 1 December 2023 247,216 67,264 3,653,554 80,256
Additions - - 136,335 -
Disposals - - (284,895 ) -
Revaluations 8,400 - - -
At 30 November 2024 255,616 67,264 3,504,994 80,256
DEPRECIATION
At 1 December 2023 - - 2,349,341 66,216
Charge for year - - 221,248 2,820
Eliminated on disposal - - (207,684 ) -
At 30 November 2024 - - 2,362,905 69,036
NET BOOK VALUE
At 30 November 2024 255,616 67,264 1,142,089 11,220
At 30 November 2023 247,216 67,264 1,304,213 14,040

Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 December 2023 45,076 100,725 118,441 4,312,532
Additions - 23,995 3,131 163,461
Disposals - - - (284,895 )
Revaluations - - - 8,400
At 30 November 2024 45,076 124,720 121,572 4,199,498
DEPRECIATION
At 1 December 2023 45,076 44,877 98,103 2,603,613
Charge for year - 18,461 7,174 249,703
Eliminated on disposal - - - (207,684 )
At 30 November 2024 45,076 63,338 105,277 2,645,632
NET BOOK VALUE
At 30 November 2024 - 61,382 16,295 1,553,866
At 30 November 2023 - 55,848 20,338 1,708,919

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

11. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 November 2024 is represented by:

Improvements
Freehold to Tractor
land and freehold units and Plant and
Buildings property trailers machinery
£    £    £    £   
Valuation in 2020 6,452 - - -
Valuation in 2023 62,398 - - -
Valuation in 2024 8,400 - - -
Cost 178,366 67,264 3,504,994 80,256
255,616 67,264 3,504,994 80,256

Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2020 - - - 6,452
Valuation in 2023 - - - 62,398
Valuation in 2024 - - - 8,400
Cost 45,076 124,720 121,572 4,122,248
45,076 124,720 121,572 4,199,498

The Freehold property was revalued on 22 April 2024 by PBG Chartered Surveyors RICS, 1st Floor Permanent House, 1 Leicester Street, Walsall, WS1 1PT.

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

11. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tractor
units and Motor
trailers vehicles Totals
£    £    £   
COST OR VALUATION
At 1 December 2023 1,023,714 39,395 1,063,109
Disposals (91,410 ) - (91,410 )
At 30 November 2024 932,304 39,395 971,699
DEPRECIATION
At 1 December 2023 203,329 4,924 208,253
Charge for year 127,389 8,618 136,007
Eliminated on disposal (48,472 ) - (48,472 )
At 30 November 2024 282,246 13,542 295,788
NET BOOK VALUE
At 30 November 2024 650,058 25,853 675,911
At 30 November 2023 820,385 34,471 854,856

12. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 360,510
Revaluations 11,610
At 30 November 2024 372,120
NET BOOK VALUE
At 30 November 2024 372,120
At 30 November 2023 360,510

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2020 8,797
Valuation in 2023 86,483
Valuation in 2024 11,610
Cost 265,230
372,120

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

12. INVESTMENT PROPERTY - continued

The investment property was purchased in 2016 for £265,230.

The property was revalued in September 2020 by a John Truslove Chartered Surveyor and valuers of Daralbeehouse, Archer Road, Redditch, B98 8DJ, giving a value of £274,027.

The property was revalued in April 2024 by a PBG Chartered Surveyor 1st Floor Permanent House, 1 Leicester Street, Walsall, WS1 1PT, giving a value of £360,520. The directors believe the value of the investment property has increased by £11,600 since April 2024 to the date of the balance sheet. Therefore the directors believe the fair value of the investment property at the balance sheet date is £372,120.

13. STOCKS
30.11.24 30.11.23
£    £   
Stocks 27,907 30,195

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 2,585,342 2,437,156
Amounts owed by group undertakings 10,825 -
Other debtors 6,296 1,209
Tax - 10,823
Prepayments 3,125 8,105
2,605,588 2,457,293

The company has entered into an invoice financing agreement with Lloyds Commercial Finance Ltd with recourse, for its trade debtors. To comply with FRS 102, the company has disclosed both the gross debtors (as shown above) and the corresponding asset held by or liability owed to the finance company (as cash at bank or as other loans within creditors amounts falling due within one year).

15. CASH AT BANK AND IN HAND

Included within cash at bank and in hand at the end of the current year is money owed by the invoice financing company to A. Hingley Transport (Brierley Hill) Limited.

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts (see note 18) 188,622 281,455
Trade creditors 929,660 1,069,568
Tax 150,487 -
Social security and other taxes 112,340 366,624
VAT 287,289 -
Other creditors - 27,673
Net wages creditor 33,603 -
Pension creditor 17,654 -
Directors' current accounts 89,708 81,833
Accruals and deferred income 372,198 -
Accrued expenses - 597,105
2,181,561 2,424,258

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts (see note 18) 226,060 422,246

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.24 30.11.23
£    £   
Gross obligations repayable:
Within one year 214,795 312,846
Between one and five years 262,187 485,108
476,982 797,954

Finance charges repayable:
Within one year 26,173 31,391
Between one and five years 36,127 62,862
62,300 94,253

Net obligations repayable:
Within one year 188,622 281,455
Between one and five years 226,060 422,246
414,682 703,701

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

18. LEASING AGREEMENTS - continued

Non-cancellable operating leases
30.11.24 30.11.23
£    £   
Within one year 1,088,119 894,951
Between one and five years 1,566,273 1,109,790
In more than five years 238,000 280,000
2,892,392 2,284,741

The total future minimum lease repayments, due to the company from non cancelling operating leases, for each period is as follows


30.11.24 30.11.23
Due in One Year 42,306 -
Between 2 and 5 Years - -
Due in more than 5 Years - -
42,406 -
Total

19. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Hire purchase contracts 414,682 703,701

Borrowings represent amounts drawn on the company's invoice discounting facility at the balance sheet date.This is secured against trade debtors and a fixed and floating charge over the undertaking, and all property and assets present and future. At the end of the current year the invoice discounting company owed money to A. Hingley Transport (Brierley Hill) Limited, therefore this is included within cash at bank and in hand.

Hire purchase contracts and finance leases are secured on the asset covered by the contract.

20. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax
Accelerated capital allowances 303,491 344,083
On Property Revaluation 19,313 17,213
322,804 361,296

A. Hingley Transport
(Brierley Hill) Limited (Registered number: 01073358)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

20. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2023 361,296
Accelerated capital allowances (40,592 )
Revaluation of Freehold L&B 2,100
Balance at 30 November 2024 322,804

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
78 Ordinary £1 78 78

22. RELATED PARTY DISCLOSURES

Other related parties
30.11.24 30.11.23
£    £   
Sales 42,486 7,140
Cost of sales 891,569 853,669
Rent charges and other expenses 73,835 72,000
Purchase of fixed assets 110,835 9,504
Amount due from related party 17,196 7,140
Amount due to related party 105,909 122,441

Related parties were with companies under common director control, directors and family members.

During the year, a total of key management personnel compensation of £ 770,703 (2023 - £ 754,169 ) was paid.

23. POST BALANCE SHEET EVENTS

After the year end the shareholders of the company sold their shares to a new holdings company, Hingley Brothers Holdings Ltd. The new ultimate controlling party is Ray Hingley, due to him owning 75% of the holding company.

24. ULTIMATE CONTROLLING PARTY

The directors A Hingley, R Hingley and K Hingley, who are also the company shareholders, are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.

Following the above shareholding change, the ultimate controlling party is director Ray Hingley.