John Raymond Transport Limited iXBRL

Company Registration Number: 00400527

John Raymond Transport Limited

Reports and Financial Statements

for the financial year ended 31 December 2024

John Raymond Transport Limited

DIRECTORS AND OTHER INFORMATION


Directors	Mr. Oliver Nolan
	Joan Nolan (Appointed 1 February 2025)


Company Secretary	Mr. Oliver Nolan


Company Registration Number	00400527


Registered Office and Business Address	Unit A39 Kent Road,
	Bridgend Industrial Estate,
	Bridgend,
	CF31 3TU,
	UK


Independent Auditors	MK Brazil
	Chartered Accountants and Statutory Audit Firm
	Unit 1A,
	Cleaboy Business Park,
	Waterford.
	Republic of Ireland

John Raymond Transport Limited

STRATEGIC REPORT

for the financial year ended 31 December 2024

The directors present their strategic report on the company for the financial year ended 31 December 2024.

Review of the Company's Business

The company's results for 2024 fell in comparison with the prior year. It suffered a loss after taxation and deprecation of £591,732. Turnover has decreased by 42.6% on the previous year while the gross profit margin has decreased by 3.47%.

The Directors expect an increase in turnover in the coming year with increased activity forecast in the market. The directors are satisfied with the level of retained reserves and cash reserves at the year end.

Financial risk management objectives and policies

The company's principal instruments compromise bank balances, bank overdrafts, trade creditors, trade debtors and other loans to the company. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

Liquidity Risk

In respect of bank balances the liquidity risk is managed by maintaining a balance between the countinuity of funding and flexibility through the use of overdrafts at floating rates of interest.

The company is a lessee in respect of finance lease assets. The liquidity risk in respect of these is managed in the same way as loans above.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Key Performance Indicators

The Key Performance Indicators during the financial year were as follows:


	2024	2023
	£	£
Turnover	10,417,593	18,148,684
Gross profit	77,782	765,992
Loss before taxation	633,087	111,434
Shareholders' Funds	2,094,019	2,685,751
Employee Numbers	115	139

Credit risks and cash flow risk

The company requires that appropriate credit checks are carried out on new customers before sales are made. All customers have individual credit limits that are reviewed on an ongoing basis by the board. Provisions for bad debts are made based on historical evidence and any new events which might indicate a reduction in the recoverability of cash flows.

The company is exposed to the price risk of commodities through its operations. The directors believe that the cost of managing this risk is in excess of the potential benefits given the size of the company. The directors, however, review the appropriateness of this policy on an annual basis.

On behalf of the board

Mr. Oliver Nolan

Director

Joan Nolan

Director


29 September 2025

John Raymond Transport Limited

DIRECTORS' REPORT

for the financial year ended 31 December 2024

The directors present their report and the audited financial statements for the financial year ended 31 December 2024.

Principal Activity

The principal activity of the company in the year under review was that of receiving, handling and UK distribution of goods to customers.

Principal Risks and Uncertainties

In common with all companies operating in this sector, the company faces increasing energy and material costs. The directors are of the opinion that the company is well positioned to manage these costs.

Results and Dividends

The loss for the financial year after providing for depreciation and taxation amounted to £(591,732) (2023 - £(91,587)).

The directors do not recommend payment of a dividend.

Directors

The directors who served during the financial year are as follows:

Mr. Oliver Nolan

Joan Nolan (Appointed 1 February 2025)

There were no changes in shareholdings between 31 December 2024 and the date of signing the financial statements.

Future Developments

The company plans to continue its present activities and current trading levels. Employees are kept as fully informed as practicable about developments within the business.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.

Auditors

The auditors, MK Brazil, (Chartered Accountants and Statutory Audit Firm) have indicated their willingness to continue in office in accordance with the provisions of Section 487 of the Companies Act 2006.

Going concern

The directors believe that the company is well placed to manage it's business risks successfully, despite the current uncertain economic outlook and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Auditors

In accordance with Section 485 of the Companies Act 2006, the auditors have indicated their willingness to continue in office and a resolution conferring their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr. Oliver Nolan

Director

Joan Nolan

Director

29 September 2025

John Raymond Transport Limited

STATEMENT OF DIRECTORS' RESPONSIBILITIES

for the financial year ended 31 December 2024

The directors are responsible for preparing the Strategic Report, Directors' 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) including FRS102 "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 apply them consistently;

-make judgements and accounting estimates that are reasonable and prudent;

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

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

Disclosure of Information to Auditor
Each persons who are directors at the date of approval of this report confirms that:
-there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and
-the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

On behalf of the board

Mr. Oliver Nolan

Director

Joan Nolan

Director

29 September 2025

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of John Raymond Transport Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of John Raymond Transport Limited ('the company') for the financial year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity, the Cash Flow Statement and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 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 31 December 2024 and of its loss for the financial 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's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other Information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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

Opinion 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 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.

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 any 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

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 for the financial statements

As explained more fully in the Statement of Directors' Responsibilities set out on page 7, 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 they 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 has 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.

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:

• The Company is subject to many laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. We identified the following laws and regulations as the most likely to have a material effect if noncompliance were to occur; financial reporting legislation, tax legislation, anti-bribery legislation and employment law as well as industry specific legislation which governs the environmental impact of certain of the Company’s products;

• We communicated relevant laws and regulations and potential fraud risks to all engagement team members, including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit;

• We understood how the Company is complying with those legal regulatory frameworks by making enquiries of management. We corroborated our enquires through our review of board minutes and certain other procedures;
Based on the results of our risk assessment we designed further audit procedures to identify non-compliance with such laws and regulations identified above. These procedures were performed at all components within the scope of our audit. Our procedures involved journal entry testing, with a focus on journals meeting our defined risk criteria based on our understanding of the business; enquiries of Company’s management, and country management at locations where full scope audit procedures;

• These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it;

• Assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team’s: understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation/ knowledge of the industry in which the client operates. Understanding of the legal and regulatory requirements specific to the entity/ regulated entity including the provisions of the applicable legislation, the regulators rules and related guidance, including guidance issued by relevant authorities that interpret those rules and the applicable statutory provisions.

• In assessing the potential risks of material misstatement, we obtained an understanding of the Company’s operations, including the nature of their revenue sources, products and services and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement. Also the applicable statutory provisions and the Company’s control environment, including the policies and procedures implemented to comply with the requirements of its regulator, including the adequacy of the training to inform staff of the relevant legislation, rules and other regulations of the regulator, the adequacy of procedures for authorisation of transactions, internal review procedures over the entity’s compliance with regulatory requirements, the authority of, and resources available and procedures to ensure that possible breaches of requirements are appropriately investigated and reported.

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

Use of our report

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

Maurice Kirwan FCA (Senior Statutory Auditor)

for and on behalf of

MK BRAZIL

Chartered Accountants and Statutory Audit Firm

Unit 1A,

Cleaboy Business Park,

Waterford.

Republic of Ireland

29 September 2025

John Raymond Transport Limited

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

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.

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.

John Raymond Transport Limited

PROFIT AND LOSS ACCOUNT

for the financial year ended 31 December 2024

	2024	2023
Notes	£	£

Turnover	4	10,417,593	18,148,684

Cost of sales		(10,339,811)	(17,382,692)
		─────────	─────────
Gross profit		77,782	765,992

Administrative expenses		(735,261)	(887,108)
		─────────	─────────
Operating loss	5	(657,479)	(121,116)

Interest receivable and similar income	6	25,192	9,682
Interest payable and similar expenses	7	(800)	-
		─────────	─────────
Loss before taxation		(633,087)	(111,434)

Tax on loss	9	41,355	19,847
		─────────	─────────
Loss for the financial year		(591,732)	(91,587)
		─────────	─────────
Total comprehensive income		(591,732)	(91,587)
		═════════	═════════

John Raymond Transport Limited

Company Registration Number: 00400527

BALANCE SHEET

as at 31 December 2024

		2024	2023
	Notes	£	£

Fixed Assets

Tangible assets

713,261

860,715

─────────

Current Assets

Debtors

2,378,674

3,600,979

Cash and cash equivalents

734,336

1,643,442

─────────

3,113,010

5,244,421

─────────

Creditors: amounts falling due within one year

(1,727,437)

(3,373,215)

─────────

Net Current Assets

1,385,573

1,871,206

─────────

Total Assets less Current Liabilities

2,098,834

2,731,921

Provisions for liabilities

(4,815)

(46,170)

─────────

Net Assets

2,094,019

2,685,751

═════════

Capital and Reserves

Called up share capital

10,526

10,526

Retained earnings

2,083,493

2,675,225

─────────

Equity attributable to owners of the company

2,094,019

2,685,751

═════════

Approved by the Board and authorised for issue on 29 September 2025 and signed on its behalf by

Mr. Oliver Nolan

Director

Joan Nolan

Director

John Raymond Transport Limited

STATEMENT OF CHANGES IN EQUITY

as at 31 December 2024

	Called up	Retained	Total
	share	earnings
	capital
	£	£	£

At 1 January 2023	10,526	2,766,812	2,777,338
	─────────	─────────	─────────
Loss for the financial year	-	(91,587)	(91,587)
	─────────	─────────	─────────
At 31 December 2023	10,526	2,675,225	2,685,751
	─────────	─────────	─────────
Loss for the financial year	-	(591,732)	(591,732)
	─────────	─────────	─────────
At 31 December 2024	10,526	2,083,493	2,094,019
	═════════	═════════	═════════

John Raymond Transport Limited

CASH FLOW STATEMENT

for the financial year ended 31 December 2024

	2024	2023
Notes	£	£

Cash flows from operating activities

Loss for the financial year

(591,732)

(91,587)

Adjustments for:

Interest receivable and similar income

(25,192)

(9,682)

Interest payable and similar expenses

800

Tax on loss on ordinary activities

(41,355)

(19,847)

Depreciation

360,953

404,731

Profit/loss on disposal of tangible assets

(113,791)

─────────

(410,317)

283,615

Movements in working capital:

Movement in debtors

1,321,388

1,387,659

Movement in creditors

(730,675)

(1,162,724)

─────────

Cash generated from operations

180,396

508,550

Interest paid

(800)

Tax paid

(32,455)

(11,299)

Tax repaid

75,865

─────────

Net cash generated from operating activities

147,141

573,116

─────────

Cash flows from investing activities

Interest received

25,192

9,682

Payments to acquire tangible assets

(221,208)

(170,256)

Receipts from sales of tangible assets

121,500

─────────

Net cash used in investment activities

(74,516)

(160,574)

─────────

Cash flows from financing activities

Advances to subsidiaries/group companies		(99,083)	(30)
Movement in funding from subsidiaries/group companies		(165)	165
		─────────	─────────
Net cash (used in)/generated from financing activities		(99,248)	135
		─────────	─────────

Net (decrease)/increase in cash and cash equivalents		(26,623)	412,677
Cash and cash equivalents at beginning of financial year		538,211	125,534
		─────────	─────────
Cash and cash equivalents at end of financial year	12	511,588	538,211
		═════════	═════════

John Raymond Transport Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

General Information

John Raymond Transport Limited is a company limited by shares incorporated in the United Kingdom. Unit A39, Kent Road, Bridgend Industrial Estate, CF31 3TU, Wales, is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax. Turnover also includes management fees receivable, net of VAT.

Dividend distribution

Dividend distribution to the company’s shareholders is recognised as a liability in the company’s financial statements in the period in which the dividends are paid.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

15% and 33.33% Straight line

Fixtures, fittings and equipment

10% Straight line

Motor vehicles

8% and 25% Straight line/reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Trade and other debtors

Trade and other debtors are stated at their net realisable value in the balance sheet.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within creditors.

Employee benefits

The company operates a defined contribution pension scheme. The assets of this scheme are also held separately from those of the company.The pension cost charged to the profit and loss account is the contribution payable to the pension scheme in respect of the accounting period.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Significant accounting judgements and key sources of estimation uncertainty

The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

(a) Establishing useful economic lives for depreciation purposes of property, plant and equipment

Long-lived assets, consisting primarily of property, plant and equipment, comprise a significant portion of the total assets. The annual depreciation charge depends primarily on the estimated useful economic lives of each type of asset and estimates of residual values. The directors regularly review these asset useful economic lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset useful lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful economic lives is included in the accounting policies.

(b) Providing for doubtful debts

The company makes an estimate of the recoverable value of trade and other debtors. The company uses estimates based on historical experience in determining the level of debts, which the company believes, will not be collected. These estimates include such factors as the current credit rating of the debtor, the ageing profile of debtors and historical experience. Any significant reduction in the level of customers that default on payments or other significant improvements that resulted in a reduction in the level of bad debt provision would have a positive impact on the operating results. The level of provision required is reviewed on an on-going basis.

Turnover

An analysis of turnover by class of business and geographical market is not given as, in the opinion of the directors, this would be seriously prejudicial to the company's interest.


5.	Operating loss	2024	2023
		£	£
	Operating loss is stated after charging/(crediting):
	Depreciation of tangible assets	360,953	404,731
	(Profit) on disposal of tangible assets	(113,791)	-
	Profit on foreign currencies	(25)	-
	Auditor's remuneration
	- audit services	9,263	9,585
		═════════	═════════


6.	Interest receivable and similar income	2024	2023
		£	£

	Bank interest	25,192	9,682
		═════════	═════════


7.	Interest payable and similar expenses	2024	2023
		£	£

	Interest on overdue tax	800	-
		═════════	═════════

Employees and remuneration

Number of employees

The average number of persons employed (including executive directors) during the financial year was as follows:

2024

2023

Number

Number

Administration

Directors

Drivers and Warehousing

116

─────────

115

139

═════════

The staff costs comprise:

2024

2023

Wages and salaries

3,564,087

4,214,787

Social security costs

344,564

394,894

Pension costs

73,296

85,867

─────────

3,981,947

4,695,548

═════════

Tax on loss

2024

2023

(a) Analysis of charge in the financial year

Current tax:

Corporation tax at 19.00% (2023 - 19.00%) (Note 9 (b))

31,289

─────────

Deferred tax:

Origination and reversal of timing differences

(41,355)

(51,136)

─────────

Total deferred tax

(41,355)

(51,136)

═════════

Tax on profit (Note 9 (b))

(41,355)

(19,847)

═════════

(b) Factors affecting tax charge for the financial year

The tax assessed for the financial year differs from the standard rate of corporation tax in the United Kingdom 19.00% (2023 - 19.00%). The differences are explained below:

2024

2023

Loss taxable at 19.00%

(633,087)

(111,434)

═════════

Loss before tax

multiplied by the standard rate of corporation tax

in the United Kingdom at 19.00% (2023 - 19.00%)

(120,287)

(21,172)

Effects of:

Expenses not deductible for tax purposes

(2,290)

(515)

Depreciation in excess of capital allowances for period

62,975

51,136

Utilisation of tax losses

33,196

Deferred tax

(41,355)

(51,136)

Deposit Interest

4,786

1,840

Profit/Loss on disposal of fixed assets

21,620

─────────

Total tax charge for the financial year (Note 9 (a))

(41,355)

(19,847)

═════════


10.	Tangible assets
		Plant and	Fixtures,	Motor	Total
		machinery	fittings and	vehicles
			equipment
		£	£	£	£
	Cost
	At 1 January 2024	167,830	80,558	5,000,990	5,249,378
	Additions	-	-	221,208	221,208
	Disposals	-	-	(352,544)	(352,544)
		─────────	─────────	─────────	─────────
	At 31 December 2024	167,830	80,558	4,869,654	5,118,042
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 January 2024	164,173	75,589	4,148,901	4,388,663
	Charge for the financial year	2,546	1,171	357,236	360,953
	On disposals	-	-	(344,835)	(344,835)
		─────────	─────────	─────────	─────────
	At 31 December 2024	166,719	76,760	4,161,302	4,404,781
		─────────	─────────	─────────	─────────
	Net book value
	At 31 December 2024	1,111	3,798	708,352	713,261
		═════════	═════════	═════════	═════════
	At 31 December 2023	3,657	4,969	852,089	860,715
		═════════	═════════	═════════	═════════

11.

Debtors

2024

2023

Trade debtors

1,679,800

2,514,931

Amounts owed by group undertakings

314,760

215,677

Prepayments and accrued income

384,114

870,371

─────────

2,378,674

3,600,979

═════════

The fair values of trade and other receivables approximate to their carrying amounts.


12.	Cash and cash equivalents	2024	2023
		£	£

	Cash and bank balances	733,426	1,640,642
	Cash equivalents	910	2,800
		─────────	─────────
		734,336	1,643,442
	Bank overdrafts	(222,748)	(1,105,231)
		─────────	─────────
		511,588	538,211
		═════════	═════════


13.	Creditors	2024	2023
	Amounts falling due within one year	£	£

	Bank overdrafts	222,748	1,105,231
	Trade creditors	597,406	1,210,521
	Amounts owed to group undertakings	-	165
	Taxation and social security costs (Note 14)	397,451	643,346
	Other creditors	32,552	32,552
	Accruals	477,280	381,400
		─────────	─────────
		1,727,437	3,373,215
		═════════	═════════


14.	Taxation and social security	2024	2023
		£	£

	Creditors:
	VAT	143,834	209,749
	Corporation tax	193,072	225,527
	PAYE / NI	60,545	208,070
		─────────	─────────
		397,451	643,346
		═════════	═════════

15.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2024

2023

At financial year start

46,170

46,170

97,306

Charged to profit and loss

(41,355)

(41,355)

(51,136)

─────────

At financial year end

4,815

46,170

═════════


16.	Share capital			2024	2023
				£	£
	Description	Number of shares	Value of units

	Allotted, called up and fully paid
	A Ordinary Shares @ £1 each	526	£1.00 each	526	526
	£1 Ordinary Shares	10,000	£1.00 each	10,000	10,000

				─────────	─────────
				10,526	10,526
				═════════	═════════

17.

Capital commitments

The company had no material capital commitments at the financial year ended 31 December 2024.

18.

Related party transactions

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group undertakings.

19.

Parent and ultimate parent company

The company regards Swift Haulage Solutions Limited as its parent company.

The companys ultimate parent undertaking is Kurway Unlimited.

The address of Kurway Unlimited is Ireland.

The parent of the largest group in which the results are consolidated is Kurway Unlimited.

Kurway Unlimited is registered in Ireland.

20.

Controlling interest

At the balance sheet date Kurway Unlimited, a company registered in Ireland was the ultimate controlling company.

21.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year end.

22.

Key Management Personnel

The company considers its director its key management personnel. The director did not receive any remuneration during the financial year.

John Raymond Transport Limited

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

TRADING STATEMENT

for the financial year ended 31 December 2024

	2024		2023
	£		£

Sales

Haulage

8,368,001

11,207,997

Sub-contracting

1,734,023

6,645,118

Storage and handling

315,569

295,569

─────────

10,417,593

18,148,684

─────────

Cost of sales

Distribution costs

1,869,832

6,851,765

Warehouse costs

250,106

523,685

Vehicle cost and maintenance

903,534

909,612

Wages and salaries

3,564,087

4,214,787

Employer's PRSI contributions

344,564

394,894

Depreciation of tangible assets

357,236

390,938

Staff pension scheme costs

73,296

85,867

Fuel expenses

2,379,704

3,316,673

Staff expenses

187,502

222,578

Leases

409,950

471,893

─────────

10,339,811

17,382,692

─────────

Gross profit

77,782

765,992

─────────

Administrative expenses

Staff training

9,661

656

Rates

60,436

78,098

Insurance

81,384

87,617

Other operating leases

16,937

24,171

Light and heat

43,693

51,793

Repairs and maintenance

257,534

100,438

Staff Secondment

138,000

Printing, postage and stationery

7,307

6,154

Telephone

20,581

19,419

Computer costs

34,840

29,992

Motor and Travel

4,445

13,472

Legal and professional

148,342

188,557

Consultancy fees

35,403

Bank charges

68,420

109,523

Bad debts

5,319

(7,583)

Profit/loss on exchange

(25)

General expenses

30,833

12,817

Subscriptions

10,962

10,606

Profits/losses on disposal of tangibles

(113,791)

Auditor's remuneration

9,263

9,585

Depreciation of tangible assets

3,717

13,793

─────────

735,261

887,108

─────────

Finance

Interest paid on overdue taxation

800

─────────

Miscellaneous income

Bank interest	25,192	9,682
	─────────	─────────

Net loss	(633,087)	(111,434)
	═════════	═════════