Davies & Meredith Limited iXBRL

Company Registration Number: 00594967

Davies & Meredith Limited

Reports and Financial Statements

for the financial year ended 31 December 2024

Davies & Meredith Limited

DIRECTOR AND OTHER INFORMATION


Director	Mr. Noel Nolan,


Company Registration Number	00594967
	United Kingdom


Business Address	Unit A39 Kent Road,
	Bridgend Industrial Estate, Bridgend,
	South Wales, CF31 3TU.


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

Davies & Meredith Limited

STRATEGIC REPORT

for the financial year ended 31 December 2024

The director presents his strategic report on the company for the financial year ended 31 December 2024.

Review of the Company's Business

The directors are pleased to report another year of profitable trading for the company. Turnover has increased by 4.3% on the previous year while the gross profit margin has decreased by 0.9%. Whilst the current economic outlook
is uncertain the directors are optimistic about the future of the company and expect the company to yield a profitable return in the coming year also. 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

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	27,781,696	26,638,300
Gross profit	622,775	355,762
Profit before taxation	415,045	342,069
Shareholders' Funds	1,889,995	1,413,552
Employee Numbers	10	9

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. Noel Nolan,
Director

29 September 2025

Davies & Meredith Limited

DIRECTOR'S REPORT

for the financial year ended 31 December 2024

The director presents his report and the audited financial statements for the financial year ended 31 December 2024.

Principal Activity

The principal activity of the company is general haulage.

Principal Risks and Uncertainties

The directors consider that the principal risks and uncertainties facing the company are those which are due to debtors being unable to pay their liabilities resulting in a going concern issue for the company. These risks and uncertainties are monitored by management and the directors to ensure that appropriate action is taken to mitigate any risks.

Results and Dividends

The profit for the financial year after providing for taxation amounted to £476,443 (2023 - £268,833).

The director does not recommend payment of a dividend.

Director

The director who served during the financial year is as follows:

Mr. Noel Nolan,

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. Noel Nolan,

Director

29 September 2025

Davies & Meredith Limited

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

for the financial year ended 31 December 2024

The director is responsible for preparing the Strategic Report, Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 person who is a director 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 director has taken all the steps that he ought to have taken to make himself 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. Noel Nolan,

Director

29 September 2025

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of Davies & Meredith Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Davies & Meredith Limited ('the company') for the financial year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Reconciliation of Shareholders' Funds, 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 profit 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 the Provisions Available for Audits of Small Entities, in the circumstances set out in Note to the financial statements, 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 director's 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 director 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 director is 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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and the Director's 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 Director's 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 director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of director for the financial statements

As explained more fully in the Statement of Director's Responsibilities set out on page 6, the director is 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 director is 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 director 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

29 September 2025

Davies & Meredith 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 director's 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.

Davies & Meredith Limited

PROFIT AND LOSS ACCOUNT

for the financial year ended 31 December 2024

	2024	2023
Notes	£	£

Turnover	3	27,781,696	26,638,300

Cost of sales		(27,158,921)	(26,282,538)
		─────────	─────────
Gross profit		622,775	355,762

Administrative expenses		(210,820)	(14,683)
		─────────	─────────
Operating profit	4	411,955	341,079

Interest receivable and similar income	5	4,487	1,120
Interest payable and similar expenses	6	(1,397)	(130)
		─────────	─────────
Profit before taxation		415,045	342,069

Tax on profit	8	61,398	(73,236)
		─────────	─────────
Profit for the financial year		476,443	268,833
		─────────	─────────
Total comprehensive income		476,443	268,833
		═════════	═════════

Davies & Meredith Limited

Company Registration Number: 00594967

BALANCE SHEET

as at 31 December 2024

		2024	2023
	Notes	£	£

Current Assets

Stocks

138,702

46,742

Debtors

6,700,933

6,531,192

Cash and cash equivalents

262,091

290,565

─────────

7,101,726

6,868,499

─────────

Creditors: amounts falling due within one year

(5,211,731)

(5,454,947)

─────────

Net Current Assets

1,889,995

1,413,552

─────────

Total Assets less Current Liabilities

1,889,995

1,413,552

═════════

Capital and Reserves

Called up share capital

2,500

2,500

Retained earnings

1,887,495

1,411,052

─────────

Equity attributable to owners of the company

1,889,995

1,413,552

═════════

Approved by the Director and authorised for issue on 29 September 2025



Mr. Noel Nolan,
Director

Davies & Meredith Limited

RECONCILIATION OF SHAREHOLDERS' FUNDS

as at 31 December 2024

	Called up	Retained	Total
	share	earnings
	capital
	£	£	£

At 1 January 2023	2,500	1,142,219	1,144,719
	─────────	─────────	─────────
Profit for the financial year	-	268,833	268,833
	─────────	─────────	─────────
At 31 December 2023	2,500	1,411,052	1,413,552
	─────────	─────────	─────────
Profit for the financial year	-	476,443	476,443
	─────────	─────────	─────────
At 31 December 2024	2,500	1,887,495	1,889,995
	═════════	═════════	═════════

Davies & Meredith Limited

CASH FLOW STATEMENT

for the financial year ended 31 December 2024

	2024	2023
Notes	£	£

Cash flows from operating activities

Profit for the financial year

476,443

268,833

Adjustments for:

Interest receivable and similar income

(4,487)

(1,120)

Interest payable and similar expenses

1,397

130

Tax on profit on ordinary activities

(61,398)

73,236

─────────

411,955

341,079

Movements in working capital:

Movement in stocks

(91,960)

(6,935)

Movement in debtors

172,466

(860,325)

Movement in creditors

(173,614)

2,651,549

─────────

Cash generated from operations

318,847

2,125,368

Interest paid

(1,397)

(130)

Tax paid

(73,236)

(62,250)

Tax repaid

65,032

─────────

Net cash generated from operating activities

309,246

2,062,988

─────────

Cash flows from investing activities

Interest received

4,487

1,120

─────────

Cash flows from financing activities

Advances to subsidiaries/group companies		(342,207)	(2,063,913)
		─────────	─────────

Net (decrease)/increase in cash and cash equivalents		(28,474)	195
Cash and cash equivalents at beginning of financial year		290,565	290,370
		─────────	─────────
Cash and cash equivalents at end of financial year	11	262,091	290,565
		═════════	═════════

Davies & Meredith Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

General Information

Davies & Meredith Limited is a company limited by shares incorporated in the United Kingdom. Unit A39, Kent Road, Bridgend Industrial Estate, Bridgend, South Wales, CF31 3TU is the registered office and the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Director's 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 goods supplied by the company, exclusive of trade discounts and value added tax.

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 approved by the company’s shareholders.

Interest income

Interest income is recognised using the effective interest method.

Stocks

Stocks are valued at the lower of cost and net realisable value. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors including amounts owed to group companies are recognised initially at transaction price (including transaction costs) unless a financing arrangement exists in which case they are measured at the present value of future receipts discounted at a market rate. Subsequently these are measured at amortised cost less any provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. All movements in the level of the provision required are recognised in the profit and loss.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Related parties

The company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned.

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

These accounts are expressed in Pound Sterling (£).

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.

Turnover

The whole of the company's turnover is attributable to its market in the United Kingdom and is derived from the principal activity of general haulage.


4.	Operating profit	2024	2023
		£	£
	Operating profit is stated after charging/(crediting):
	(Profit)/loss on foreign currencies	(29)	39
	Auditor's remuneration
	- audit services	5,006	4,669
		═════════	═════════


5.	Interest receivable and similar income	2024	2023
		£	£

	Bank interest	4,487	1,120
		═════════	═════════


6.	Interest payable and similar expenses	2024	2023
		£	£

	On bank loans and overdrafts	1,397	130
		═════════	═════════

Employees and remuneration

Number of employees

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

2024

2023

Number

Number

Administration and Management

═════════

The staff costs comprise:

2024

2023

Wages and salaries

389,823

343,366

Social security costs

39,213

35,383

Pension costs

7,631

7,399

─────────

436,667

386,148

═════════

Tax on profit

2024

2023

(a) Analysis of charge in the financial year

Current tax:

Corporation tax at 19.00% (2023 - 19.00%)

3,692

73,236

Under/over provision in prior year

(65,090)

─────────

Total current tax

(61,398)

73,236

═════════

(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

Profit taxable at 19.00%

415,045

342,069

═════════

Profit before tax

multiplied by the standard rate of corporation tax

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

78,859

64,993

Effects of:

Expenses not deductible for tax purposes

1,574

2,066

Capital allowances for period in excess of depreciation

(99)

Utilisation of tax losses

(76,642)

Prior year adjustments

(65,090)

Rationalisation of tax rates

6,177

─────────

Total tax charge for the financial year (Note 8 (a))

(61,398)

73,236

═════════

No charge to tax arises due to tax losses incurred.


9.	Stocks	2024	2023
		£	£

	Finished goods and goods for resale	138,702	46,742
		═════════	═════════


10.	Debtors	2024	2023
		£	£

	Trade debtors	1,655,858	1,891,277
	Amounts owed by group undertakings	3,797,880	3,455,673
	Taxation (Note 13)	1,022,798	1,010,873
	Prepayments and accrued income	224,397	173,369
		─────────	─────────
		6,700,933	6,531,192
		═════════	═════════


11.	Cash and cash equivalents	2024	2023
		£	£

	Cash and bank balances	262,091	290,565
		═════════	═════════

12.

Creditors

2024

2023

Amounts falling due within one year

Trade creditors

5,139,386

5,318,060

Taxation (Note 13)

13,855

81,998

Other creditors

2,841

3,935

Accruals

55,649

50,954

─────────

5,211,731

5,454,947

═════════

Amounts owed to group companies are unsecured, interest free and repayable on demand.


13.	Taxation	2024	2023
		£	£

	Debtors:
	VAT	1,022,798	1,010,873
		═════════	═════════
	Creditors:
	Corporation tax	3,692	73,294
	PAYE / NI	10,163	8,704
		─────────	─────────
		13,855	81,998
		═════════	═════════


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

	Allotted, called up and fully paid
	£1 Ordinary Shares	2,500	£1.00 each	2,500	2,500

				═════════	═════════

The director's interests in the share capital of other group companies are as follows:

Class of

Number Held At

Name

Company

Shares

31/12/24

01/01/24

Holdings in Parent Company

Mr. Noel Nolan,

Kurway Unlimited Company

Ordinary Shares Class 1

═════════

15.

Capital commitments

The company had no capital commitments at the year end.

16.

Related party transactions

The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.

During the year the company had the following related party transaction with the following companies:

CNS Transport Limited
During the year the Company provided services to CNS Transport Limited in the amount of £1,443,052 (2023 - £1,284,624). Included in Debtors is an amount owed of £240,035 (2023 - £277,149). During the year the Company received services from CNS Transport Limited in the amount of £2,000,194 (2023 - £1,792,645). Included in Creditors is an amount owed of £808,707 (2023 - £820,359).

J & J Truckin Limited
During the year the Company provided services to J & J Truckin Limited in the amount of £3,842,955 (2023 - £3,811,234). Included in Debtors is an amount owed of £717,395 (2023 - £825,151 ). During the year the Company received services from J & J Truckin Limited in the amount of £5,298,746 (2023 - £5,253,685). Included in Creditors is an amount owed of £2,296,779 (2023 - £2,348,732).

JNJ Transport Limited
During the year the Company provided services to JNJ Transport Limited in the amount of £3,609,816 (2023 - £3,500,161). Included in Debtors is an amount owed of £654,614 (2023 - £718,816). During the year the Company received services from JNJ Transport Limited in the amount of £4,938,877 (2023 - £4,766,365). Included in Creditors is an amount owed of £2,009,587 (2023 - £2,040,623).

The director and shareholder of the above companies is a sibling of the directors of Davies & Meredith Limited.

17.

Parent company

The company regards Kurway Unlimited Company as its parent company.

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

Kurway Unlimited is registered in Ireland.

18.

Post-Balance Sheet Events

No events of note have occurred since the year end.

19.

Key Management Personnel

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

Davies & Meredith Limited

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

TRADING STATEMENT

for the financial year ended 31 December 2024

	2024		2023
	£		£

Sales

27,781,696

26,638,300

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Cost of sales

Opening stock

46,742

39,807

Purchases

13,575,441

12,934,490

Motor & Travelling Expenses

1,979

1,356

Tax, insurance & tolls

331,335

290,134

Oil & fuel

4,856,621

5,207,348

Direct costs

1,868,943

1,675,289

Staff Secondment

6,179,895

5,794,708

Wages and salaries

389,823

343,366

Social security costs

39,213

35,383

Staff pension scheme costs

7,631

7,399

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27,297,623

26,329,280

Closing stock

(138,702)

(46,742)

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27,158,921

26,282,538

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Gross profit

622,775

355,762

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Gross profit Percentage

2.2%

1.3%

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Administrative expenses

Management expenses

168,035

Procurement service fee

851

738

Telephone

12,509

9,239

Profit/loss on exchange

(29)

General expenses

24,448

(2)

Auditor's remuneration

5,006

4,669

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210,820

14,683

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Finance

Bank interest paid

1,397

130

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Miscellaneous income

Bank interest	4,487	1,120
	─────────	─────────

Net profit	415,045	342,069
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