Alandale Logistics Limited - Limited company accounts 25.1

REGISTERED NUMBER: 03279517 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ALANDALE LOGISTICS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

D T Bulman

P E Morgan

SECRETARY:

Swanarrow Limited

REGISTERED OFFICE:

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

REGISTERED NUMBER:

03279517 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alekos Christofi

AUDITORS:

AGK Partnership Ltd

Chartered Accountants & Statutory Auditors

1 Kings Avenue

London

N21 3NA

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

The company has continued to take a long-term view in the services it provides to its clients and has managed to maintain its position in the sector by continuing to deliver the services robustly, efficiently and effectively.

Despite the company facing significant challenges with rising wage costs, economic uncertainty, tensions in Eastern Europe and the Middle East, the company has delivered a satisfactory set of results.

The company's ongoing strategy has proven to be effective and dynamic, with a strong emphasis on improving the financial returns in 2024 and beyond, with its aim to deliver competitive operational performance and innovative solutions.

The company's ethos of maintaining positive financial results and reinvesting, assists the business to withstand challenges within the sector and the wider economy.

REVIEW OF BUSINESS

The company delivered key projects during the period despite the economic and sector challenges and remains committed and well placed to continue to deliver going forward.

Due to the competition in the sector, the company secured contracts albeit at lower margins to allow the company to work with regular clients.

Despite the company experiencing a large bad debt during the year, due to stringent financial measures taken by the company over a number of years, the company was able to overcome the financial pressures from the bad debt and continue in operation without significant problems.

PRINCIPAL RISKS AND UNCERTAINTIES

The company has minimised its risks and uncertainties by seeking to provide innovative solutions within the industry and continually seeks to improve the services we provide in areas such as traffic and logistics management. The company continually looks for improvement areas to the operational performance in the industry it operates in.

CONCLUSION

The company continues to trade successfully due to the long-term strategy it has employed despite the economic and sector challenges.

The company's continued long-term vision, together with its strict capital discipline has enabled it to withstand the economic and industry uncertainties and maintain steady growth.

ON BEHALF OF THE BOARD:

P E Morgan - Director

26 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of logistics services to construction sector and general construction.

DIVIDENDS

An interim dividend of £7.82 per share was paid on 31 December 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 1,750,000 .

RESEARCH AND DEVELOPMENT

The company recognises the importance of investing in research and development and it is the company's policy to identify, wherever possible, improved methods of delivering its services. Research and development costs are absorbed within administrative costs and are not significant.

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 shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

D T Bulman

P E Morgan

PRINCIPAL RISKS, UNCERTAINTIES AND FINANCIAL INSTRUMENTS

The financial instruments are comprised of finance leases, inter company balances, cash and liquid resources, debtors, creditors and accrued expenses.

The directors consider the most significant risk in respect of financial assets and liabilities is that relating to credit risk on trade debtors. This is addressed via normal credit control procedures and adequate debt provisioning.

KEY PERFORMANCE INDICATORS

The directors use a number of KPIs to assess performance, the principal ones being the monitoring of profitability on each contract with budgeted profitability and the monitoring of overall company profitability and cash flow with budgets and forecasts.

2024

2023

£

Turnover

58,818,854

34,002,804

Gross profit

9,049,034

5,584,395

Gross Margin

15%

16%

Profit before tax

2,477,989

1,209,365

Net assets

8,232,178

7,874,290

EMPLOYEES

The Company has well developed policies for fair and equal treatment of all colleagues, employment of disabled persons and colleague participation. During employment the Company seeks to work with each individual, taking into account their personal circumstances, to enable them to reach and maximize their potential.

For many years, the company has worked alongside major organisations, such as Unite and Bounced Back Foundation Limited to help integrate those who find difficulty in securing employment due to disability, incapacity or other personal circumstances, back into the workplace.

The company applies the same criteria to disabled persons as it does to other employees and potential employees and is prepared, where necessary, to offer retraining to any of its employees who develops a disability.

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). 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;

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- 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.

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, AGK Partnership Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P E Morgan - Director

26 September 2025

Opinion

We have audited the financial statements of Alandale Logistics Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 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.

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 three and four, 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.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognize non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other

management, and from our commercial knowledge and experience of the industry;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of

management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of

actual,suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in

determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or

collusion.

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.

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.

Alekos Christofi (Senior Statutory Auditor)

for and on behalf of AGK Partnership Ltd

Chartered Accountants & Statutory Auditors

1 Kings Avenue

London

N21 3NA

26 September 2025

TURNOVER

3

58,818,854

34,002,804

Cost of sales

49,769,820

28,418,409

GROSS PROFIT

9,049,034

5,584,395

Administrative expenses

7,196,355

4,822,874

1,852,679

761,521

Other operating income

610,023

448,364

OPERATING PROFIT

5

2,462,702

1,209,885

Interest receivable and similar income

19,465

6,976

2,482,167

1,216,861

Interest payable and similar expenses

6

4,178

7,496

PROFIT BEFORE TAXATION

2,477,989

1,209,365

Tax on profit

7

370,101

87,976

PROFIT FOR THE FINANCIAL YEAR

2,107,888

1,121,389

PROFIT FOR THE YEAR

2,107,888

1,121,389

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR

THE YEAR

2,107,888

1,121,389

FIXED ASSETS

Tangible assets

9

126,158

145,021

CURRENT ASSETS

Stocks

10

765,362

1,861,162

Debtors

11

16,842,714

15,333,024

Cash at bank and in hand

2,909,880

1,750,293

20,517,956

18,944,479

CREDITORS

Amounts falling due within one year

12

12,392,631

11,197,332

NET CURRENT ASSETS

8,125,325

7,747,147

TOTAL ASSETS LESS CURRENT

LIABILITIES

8,251,483

7,892,168

PROVISIONS FOR LIABILITIES

15

19,305

17,878

NET ASSETS

8,232,178

7,874,290

CAPITAL AND RESERVES

Called up share capital

16

223,713

Retained earnings

17

8,008,465

7,650,577

SHAREHOLDERS' FUNDS

8,232,178

7,874,290

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

P E Morgan - Director

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 January 2023

223,713

7,029,188

7,252,901

Changes in equity

Dividends

-

(500,000

)

(500,000

)

Total comprehensive income

-

1,121,389

Balance at 31 December 2023

223,713

7,650,577

7,874,290

Changes in equity

Dividends

-

(1,750,000

)

(1,750,000

)

Total comprehensive income

-

2,107,888

Balance at 31 December 2024

223,713

8,008,465

8,232,178

1.	STATUTORY INFORMATION

Alandale Logistics 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirements of paragraphs 29.28(b) and 29.29;

•

the requirement of paragraph 33.7.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Revenue is recognised upon rendering of construction services to customers in an amount that reflects the

consideration which the company expects to receive in exchange for those services. To recognise revenues, the company applies following five step approach:

(1) identify the contract with a customer,

(2) identify the performance obligations in the contract,

(3) determine the transaction price,

(4) allocate the transaction price to the performance obligations in the contract, and

(5) recognise revenues when a performance obligation is satisfied

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Turnover is reduced for customer returns and other similar allowances.

Turnover is recognised at the point the company has transferred to the buyer the significant risks and rewards, the amount of the turnover can be measured reliably and it is probable the economic benefits associated with the transactions will flow to the company.

Turnover related income from maintenance contracts is recognised evenly over the period of the contract.

When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs are recognised as revenue and expenses respectively by reference to the stage of completion of the contract activity at the balance sheet date. When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that are likely to be recoverable. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Contract revenue comprises the initial amount of revenue agreed in the contract and variations in the contract work and claims that can be measured reliably. A variation or a claim is recognised as contract revenue when it is probable that the customer will approve the variation or negotiations have reached an advanced stage such that it is probable that the customer will accept the claim.

The stage of completion is measured by reference to the ratio of contract costs incurred to date to the estimated total costs for the contract. Costs incurred during the financial year in connection with future activity on a contract are excluded from the costs incurred to date when determining the stage of completion of a contract. Such costs are shown as construction contract work-in-progress on the balance sheet unless it is not probable that such contract costs are recoverable from the customers, in which case, such costs are recognised as an expense immediately.

At the balance sheet date, the cumulative costs incurred plus recognised profit (less recognised loss) on each contract is compared against the progress billings. Where the cumulative costs incurred plus the recognised profits (less recognised losses) exceed progress billings, the balance is presented as due from customers on construction contracts within "Amount recoverable on contract". Where progress billings exceed the cumulative costs incurred plus recognised profits (less recognised losses), the balance is presented as due to customers on construction contracts within "Payments on account".

Progress billings not yet paid by customers and retentions by customers are included within "Amount

recoverable on contract". Advances received are included within "Payments on account".

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment

losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

WIP is valued at the lower of cost and estimated selling price less costs to complete and sell.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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:

2024

2023

£

Construction services

58,818,854

34,002,804

58,818,854

34,002,804

An analysis of turnover by geographical market is given below:

2024

2023

£

United Kingdom

58,818,854

34,002,804

58,818,854

34,002,804

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

Wages and salaries

5,504,121

4,939,240

Social security costs

627,664

565,432

Other pension costs

99,433

99,441

6,231,218

5,604,113

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

2024

2023

Directors

2

Administrative staff

48

45

site based staff

56

57

106

104

2024

2023

£

Directors' remuneration

755,222

529,068

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

Money purchase schemes

2

Information regarding the highest paid director is as follows:

2024

2023

£

Emoluments etc

500,222

300,222

5.	OPERATING PROFIT

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

2024

2023

£

Hire of plant and machinery

1,929,579

650,375

Depreciation - owned assets

49,758

48,992

Depreciation - assets on hire purchase contracts

-

6,710

Loss on disposal of fixed assets

2,137

-

Auditors' remuneration

27,500

26,000

Foreign exchange differences

(77,265

)

53,023

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

Bank interest

-

53

Interest - Other

3,551

6,817

Hire purchase

627

626

4,178

7,496

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

Current tax:

UK corporation tax

371,213

88,054

Overprovision in prior years

(2,539

)

(15,898

)

Total current tax

368,674

72,156

Deferred tax

1,427

15,820

Tax on profit

370,101

87,976

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:

2024

2023

£

Profit before tax

2,477,989

1,209,365

Profit multiplied by the standard rate of corporation tax in the UK of 25%

(2023 - 23.520%)

619,497

284,443

Effects of:

Expenses not deductible for tax purposes

14,576

9,104

Capital allowances in excess of depreciation

(1,960

)

(15,071

)

Deferred tax

1,427

15,820

Group relief

(187,751

)

(190,422

)

Other tax adjustments

(75,688

)

(15,898

)

Total tax charge

370,101

87,976

8.

DIVIDENDS

2024

2023

£

"A" Ordinary shares of £1 each

Interim

1,750,000

500,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

37,500

19,083

228,099

148,896

433,578

Additions

-

17,865

32,167

50,032

Disposals

(37,500

)

(2,083

)

(30,000

)

(66,216

)

(135,799

)

At 31 December 2024

-

17,000

215,964

114,847

347,811

DEPRECIATION

At 1 January 2024

35,831

17,855

132,202

102,669

288,557

Charge for year

-

279

25,643

23,836

49,758

Eliminated on disposal

(35,831

)

(1,969

)

(18,811

)

(60,051

)

(116,662

)

At 31 December 2024

-

16,165

139,034

66,454

221,653

NET BOOK VALUE

At 31 December 2024

-

835

76,930

48,393

126,158

At 31 December 2023

1,669

1,228

95,897

46,227

145,021

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

46,400

Transfer to ownership

(46,400

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

26,271

Transfer to ownership

(26,271

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

20,129

10.

STOCKS

2024

2023

£

Work-in-progress

765,362

1,861,162

11.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

4,651,191

2,561,931

Amounts owed by group undertakings

4,995,603

6,481,846

Amounts recoverable on contract

5,336,527

4,446,975

Other debtors

563,618

1,350,318

Tax

301,916

-

Prepayments

500,647

367,495

16,349,502

15,208,565

Amounts falling due after more than one year:

Trade debtors

493,212

124,459

Aggregate amounts

16,842,714

15,333,024

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts (see note 13)

-

13,250

Trade creditors

11,018,533

9,618,654

Tax

-

56,901

Social security and other taxes

243,720

282,462

Directors' current accounts

175,000

50,000

Accrued expenses

955,378

1,176,065

12,392,631

11,197,332

13.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2024

2023

£

Gross obligations repayable:

Within one year

-

13,951

Finance charges repayable:

Within one year

-

701

Net obligations repayable:

Within one year

-

13,250

Non-cancellable operating

leases

2024

2023

£

Within one year

290,573

24,238

Between one and five years

882,062

849,172

In more than five years

1,486,051

1,698,344

2,658,686

2,571,754

14.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Hire purchase contracts

-

13,250

National Westminster Bank Plc holds a fixed charge over the company's leasehold premises together with a mortgage debenture which comprises a fixed and floating charge over all property, assets, goodwill, book debts and any licences. A cross company guarantee has been provided by Alandale Holdings Limited to the bank as further security.

15.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

19,305

17,878

Deferred

tax

£

Balance at 1 January 2024

17,878

Provided during year

1,427

Accelerated capital allowances

Balance at 31 December 2024

19,305

16.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

223,713

"A" Ordinary

£1

223,713

17.

RESERVES

Retained

earnings

£

At 1 January 2024

7,650,577

Profit for the year

2,107,888

Dividends

(1,750,000

)

At 31 December 2024

8,008,465

18.	PENSION COMMITMENTS

The company operates a small self administered scheme for certain directors and key employees. This is a defined contribution scheme. £ Nil (2023: £ Nil) was paid in the year. £ Nil (2023: £ Nil) was outstanding at the year end.

The company also contributes to a separate defined contribution scheme for other directors, key employees and senior staff. £99,433 (2023: £98,123) was paid during the year and £34,732 (2023: £37,785) was outstanding at the year end.

19.	ULTIMATE PARENT COMPANY

The company is a 90% owned subsidiary of Alandale Holdings Limited.

The largest and smallest group in which the result of the company are consolidated is that headed by Alandale Holdings Limited which is incorporated in the United Kingdom. The consolidated financial statements of this company are available to the public and may be obtained from company's registered office at 1 Brook Court, Blakeney Road, Beckenham, Kent, BR3 1HG.

20.	RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2024

2023

£

Amount due from related party

4,995,603

6,481,846

Other related parties

31.12.24

31.12.23

£

Sales

704,236

1,293,931

Purchases

(2,097,164

)

(3,544,664

)

Rent receivable

106,140

Management charges receivable

503,307

340,217

Rent payable

(262,293

)

(262,293

)

Amount due from related party

-

213,923

Amount due to related party

(2,028,402

)

(2,295,180

)

Amount due to Director

(175,000

)

(50,000

)

* The amount owed to/from related parties are interest free and repayable on demand.

21.	POST BALANCE SHEET EVENTS

No significant events have occurred between the reporting date, 31 December 2024, and the date the financial statements were authorized for issue that would require adjustment to or disclosure in the financial statements.

22.	ULTIMATE CONTROLLING PARTY

The company was under the control of P E Morgan throughout the current and previous year.