Company registration number 00839431 (England and Wales)
ERNEST COOPER LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
ERNEST COOPER LIMITED
COMPANY INFORMATION
Directors
Mr H S Cooper
Mr L S Cooper
Mr J H Cooper
Secretary
Mr J H Cooper
Company number
00839431
Registered office
Unit 43
Lidgate Crescent
Langthwaite Grange Industrial Estate
South Kirkby
Pontefract
WF9 3NR
Auditor
Haigh Accountants Limited
Grange Cottage
Fulham Lane
Womersley
Doncaster
DN6 9BW
Bankers
Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB
ERNEST COOPER LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of income and retained earnings
8
Balance sheet
9
Statement of cash flows
10
Notes to the financial statements
11 - 23
ERNEST COOPER LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report for the year ended 30 April 2025.

Review of the business

The principal activities of the company in the year under review were that of haulage contractors and heavy goods vehicle renovation.

The turnover for the year increased by 4.6% compared to the previous year and the gross profit margin decreased to 9% (2023/24: 12.8%). Pre-tax profits decreased to £840K in the year (2023/24: £1,443K). The results for the year and the financial position at the year end were considered satisfactory by the directors, who expect a further growth in the foreseeable future.

In order to manage the company successfully, the strategic and management risks facing the company are regularly reviewed and updated.

The company is impacted by a variety of risks and uncertainties, includ ing, but not limited to:

- ability of the company to implement its strategy, priorities and initiatives

- haulage market trends

- ability to maintain and enhance the value of the company's brand

- competition within the haulage market

- ability to identify, develop, and market new services

- changes in fuel prices & duty

- reliance on subcontractors

- changes in economic conditions

- changes in regulatory and statutory laws, including changes regarding goods vehicle operator's licence and in tax exposure

- credit risks, including the ability to manage working capital and collect outstanding customer receivables

- reliance on information technology systems

Principal risks and uncertainties

Risk management

Health & Safety/Goods Vehicle Operator Risks

The company has developed robust procedures around health & safety requirements and goods vehicle operator regulations and management regularly monitor and review these procedures and their implementation.

Price Risk

The company uses a range of suppliers for each area of provision to ensure that market prices for purchases are achieved. The company uses long and short terms contracts with suppliers and customers to manage its exposure to variation in market prices. The company constantly reviews both its own and supplier prices.

Credit Risk

The company mainly trades with long standing customers, the nature of these relationships assist management in controlling its credit risk, in addition to the normal credit management processes.

Liquidity Risk

The company finances its operations through retained earnings from previous years. Cash assets are invested safely to ensure the funding to meet expenditure commitments is available. Management control and monitor the company’s cash flow on a regular basis, including forecasting future cash flows.

ERNEST COOPER LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
Development and performance

The company continues to take on more new customers and has increased its volumes and length of contracts with existing customers.

The company has continued to invest in walking floors and eight wheel rigid vehicles, which has expanded avenues for further work.

Key performance indicators

Profit and Loss

Turnover was £22.9m in 2024/25, an increase of 4.6%, or £1m, from £21.9m in 2023/2024.

Gross margin was £2.1m, 9.13% of turnover, a decrease of £0.7m from £2.8m, 12.8% of turnover, in 2023/24.

Profit before tax was £840K, 3.66% of turnover, a decrease of £603K from £1,443K, 6.6% of turnover, in 2023/24.

Balance Sheet

At the year end date, cash at bank decreased by £80K to £1,221K.

At the year end date, net current assets were £2.9m compared to £3.2m at the previous year end.

At the year end date, net assets were £8.9m compared to £8.6m at the previous year end, the increase of £0.3m consisting of the profit after tax for the year of £630K, less the dividend paid of £322K.

Other performance indicators

The company has taken advantage of the exemption available to medium sized companies not to disclose 'non-financial' key performance indicators.

Future Developments

The company continues to review new markets and areas for future expansion and is looking to purchase additional land and storage warehouse, for products such as coal and processed products.

The company continues to keep in contact with all its customers, advising them of all the services available for their needs.

The company also continues to train its staff to provide the level of services required by its customers.

The directors fully expect another successful year in 2025/26.

Shortage of HGV Drivers

The company ensures retention of high quality driver staff by providing a competitive overall package alongside a promise of a positive working environment and culture. This has continued during the current HGV driver shortage, with the directors ensuring that the package on offer remains competitive for both new and existing drivers.

On behalf of the board

Mr L S Cooper
Director
14 October 2025
ERNEST COOPER LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Principal activities

The principal activity of the company in the year under review was that of haulage contractors and HGV renovation.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £322,115. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr H S Cooper
Mr L S Cooper
Mr J H Cooper
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Post reporting date events

Since the balance sheet date the company has paid dividends of £12,800 (2024: £172,800).

Auditor

The auditor, Haigh Accountants Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual 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). 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; and

- 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.

ERNEST COOPER LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr L S Cooper
Director
14 October 2025
ERNEST COOPER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ERNEST COOPER LIMITED
- 5 -
Opinion

We have audited the financial statements of Ernest Cooper Limited (the 'company') for the year ended 30 April 2025 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 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 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport 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.

ERNEST COOPER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ERNEST COOPER LIMITED (CONTINUED)
- 6 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 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 have 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 risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations or through collusion.

By focusing on material amounts and disclosures and using a risk based approach, we have a reasonable chance of detecting material misstatements due to irregularities including fraud. However, due to the sampling method of testing, as allowed by auditing standards, we cannot guarantee that, if such irregularities, including fraud are present within the company's financial systems, our audit will detect all of them.

Robust internal controls operated by the company can increase the detection of such irregularities, but this is not always present in small to medium sized companies that are often owner-managed.

ERNEST COOPER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ERNEST COOPER LIMITED (CONTINUED)
- 7 -

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK. We communicated the identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

Audit procedures performed by the engagement team to detect irregularities, including fraud from instances of non-compliance with laws and regulations included:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations. As two out of the three directors are involved in the day-to-day running of the business they are in a position to exert close oversite of the management team and finance department.

- Challenging assumptions and judgements made by management in it's significant accounting estimates that involved making assumptions.

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or those posted by unexpected users.

- Testing transactions entered into that are outside of the normal course of the Company's business.

- Reviewing recent correspondence with the company's legal advisors to ensure the that it aligned to any conclusions drawn in respect to any outstanding or uncertain legal matters.

- Reading key correspondence from regulatory bodies.

However, the primary responsibility for the prevention and detection of fraud still rests with both those charged with governance of the entity and management.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Mark Fox (Senior Statutory Auditor)
For and on behalf of Haigh Accountants Limited, Statutory Auditor
Chartered Certified Accountants
Grange Cottage
Fulham Lane
Womersley
Doncaster
DN6 9BW
14 October 2025
ERNEST COOPER LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
22,934,316
21,929,199
Cost of sales
(20,864,166)
(19,117,783)
Gross profit
2,070,150
2,811,416
Administrative expenses
(1,188,668)
(1,368,927)
Other operating income
7,734
21,966
Operating profit
4
889,216
1,464,455
Interest receivable and similar income
7
140
12,165
Interest payable and similar expenses
8
(49,601)
(33,156)
Profit before taxation
839,755
1,443,464
Tax on profit
9
(211,957)
(363,058)
Profit for the financial year
627,798
1,080,406
Retained earnings brought forward
8,623,453
8,024,080
Dividends
10
(322,115)
(481,033)
Retained earnings carried forward
8,929,136
8,623,453

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ERNEST COOPER LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
7,790,989
6,622,918
Current assets
Stocks
12
65,545
67,287
Debtors
13
4,457,242
3,709,498
Cash at bank and in hand
1,221,262
1,301,185
5,744,049
5,077,970
Creditors: amounts falling due within one year
14
(2,808,344)
(1,840,311)
Net current assets
2,935,705
3,237,659
Total assets less current liabilities
10,726,694
9,860,577
Creditors: amounts falling due after more than one year
15
(199,306)
-
Provisions for liabilities
Deferred tax liability
17
1,598,097
1,236,969
(1,598,097)
(1,236,969)
Net assets
8,929,291
8,623,608
Capital and reserves
Called up share capital
19
155
155
Profit and loss reserves
8,929,136
8,623,453
Total equity
8,929,291
8,623,608

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 14 October 2025 and are signed on its behalf by:
Mr L S Cooper
Director
Company registration number 00839431 (England and Wales)
ERNEST COOPER LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
2,542,486
3,171,868
Interest paid
(49,601)
(33,156)
Income taxes paid
(149,229)
(99,123)
Net cash inflow from operating activities
2,343,656
3,039,589
Investing activities
Purchase of tangible fixed assets
(1,291,434)
(1,854,704)
Proceeds from disposal of tangible fixed assets
149,999
155,168
Repayment of loans
-
0
53,393
Interest received
140
12,165
Net cash used in investing activities
(1,141,295)
(1,633,978)
Financing activities
Payment of finance leases obligations
(960,169)
(627,026)
Dividends paid
(322,115)
(481,033)
Net cash used in financing activities
(1,282,284)
(1,108,059)
Net (decrease)/increase in cash and cash equivalents
(79,923)
297,552
Cash and cash equivalents at beginning of year
1,301,185
1,003,633
Cash and cash equivalents at end of year
1,221,262
1,301,185
ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 11 -
1
Accounting policies
Company information

Ernest Cooper Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 43, Lidgate Crescent, Langthwaite Grange Industrial Estate, South Kirkby, Pontefract, WF9 3NR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for the services rendered to its customers.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated; buildings dep'n not material
Leasehold improvements
10% straight line
Plant and machinery
20% reducing balance
Fixtures
10% reducing value
Computer equipment
33% reducing balance
Motor vehicles
25% reducing balance
Lorries
25% reducing balance and 25% straight line
Trailers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 12 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.7
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank current account positive balances.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 13 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 paymen ts 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. A m ounts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 14 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 15 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Leases

Management exercises judgement in determining the classification of leases as finance leases or operating leases at inception of the lease. Where the lease term constitutes substantially all of the economic life of the asset, or where the present value of the minimum lease payments amounts to substantially all of the fair value of the asset, the lease is classified as a finance lease. All other leases are classified as operating leases.

Contingent liabilities

Contingent liabilities are possible obligations whose existence will be conferred only on the occurrence or non-occurrence of uncertain future events outside the company’s control, or present obligations that are not recognised because it is not probable that a settlement will be required or the value of such payment cannot be reliably estimated. The company does not recognise contingent liabilities but, when necessary, discloses them in the notes to the financial statements.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Impairment of assets

Where there are indications of impairment, management performs an impairment test. For trade debtors this may simply be a review of the age profile of the debtors against the relevant payment terms and consideration of the debtors’ payment history. Any other relevant factors, of which management are aware, will also be considered, together with comparison of historical impairment provisions against actual outcomes.

Tangible fixed assets and depreciation

In order to implement the company’s accounting policy in respect of tangible fixed assets, management has to estimate the useful life of each category of such assets, determine which category individual assets belong, estimate the possibility and amount of residual values and allocate the cost of some assets between their major components, when such components have different useful lives. Management relies on industry knowledge, local facts, commonly used accounting practices, prior experience, specialist/professional advice (both current and historic) and any other relevant information which they are aware of, in order to make these estimates.

ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 16 -
3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Haulage
22,315,933
21,244,220
Trailer hire
197,096
294,807
Vehicle maintenance, fuel and sundry sales
421,287
390,172
22,934,316
21,929,199
2025
2024
£
£
Other revenue
Interest income
140
12,165
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
5,000
4,600
Depreciation of owned tangible fixed assets
1,639,957
1,636,087
Depreciation of tangible fixed assets held under finance leases
272,692
59,244
Loss/(profit) on disposal of tangible fixed assets
30,214
(547)
Operating lease charges
138,532
135,627
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Heavy goods vehicle drivers and maintenance
85
78
Management and administration
14
14
Total
99
92
ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
5
Employees
(Continued)
- 17 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
4,804,883
4,260,119
Social security costs
519,680
444,075
Pension costs
122,204
276,860
5,446,767
4,981,054
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
54,680
55,732
Company pension contributions to defined contribution schemes
12,790
172,047
67,470
227,779

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
-
0
12,165
Other interest income
140
-
0
Total income
140
12,165
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
-
0
12,165
8
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Interest on finance leases and hire purchase contracts
49,601
33,156
ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
(133,384)
149,171
Adjustments in respect of prior periods
(15,787)
-
0
Total current tax
(149,171)
149,171
Deferred tax
Origination and reversal of timing differences
345,083
213,887
Other adjustments
16,045
-
0
Total deferred tax
361,128
213,887
Total tax charge
211,957
363,058

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
839,755
1,443,464
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
209,939
360,866
Tax effect of expenses that are not deductible in determining taxable profit
1,643
1,790
Depreciation on assets not qualifying for tax allowances
375
402
Taxation charge for the year
211,957
363,058
10
Dividends
2025
2024
£
£
Interim paid
322,115
481,033
ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 19 -
11
Tangible fixed assets
Freehold land and buildings
Leasehold improvements
Plant and machinery
Fixtures
Computer equipment
Motor vehicles
Lorries
Trailers
Total
£
£
£
£
£
£
£
£
£
Cost
At 1 May 2024
383,432
32,204
246,780
38,648
36,664
311,562
7,398,240
5,034,105
13,481,635
Additions
-
0
-
0
72,950
-
0
462
65,618
2,047,509
1,074,400
3,260,939
Disposals
-
0
-
0
(10,500)
(861)
(6,441)
-
0
(705,533)
(315,875)
(1,039,210)
At 30 April 2025
383,432
32,204
309,230
37,787
30,685
377,180
8,740,216
5,792,630
15,703,364
Depreciation and impairment
At 1 May 2024
-
0
12,882
129,875
12,418
32,644
135,962
3,666,822
2,868,119
6,858,722
Depreciation charged in the year
-
0
3,220
28,712
2,623
1,366
53,261
1,200,852
622,615
1,912,649
Eliminated in respect of disposals
-
0
-
0
(858)
(449)
(5,922)
-
0
(583,668)
(268,099)
(858,996)
At 30 April 2025
-
0
16,102
157,729
14,592
28,088
189,223
4,284,006
3,222,635
7,912,375
Carrying amount
At 30 April 2025
383,432
16,102
151,501
23,195
2,597
187,957
4,456,210
2,569,995
7,790,989
At 30 April 2024
383,432
19,323
116,906
26,230
4,021
175,601
3,731,419
2,165,986
6,622,918
ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
11
Tangible fixed assets
(Continued)
- 20 -

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Lorries
1,188,165
201,201
Trailers
606,043
196,474
1,794,208
397,675
12
Stocks
2025
2024
£
£
Consumables
65,545
67,287
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,094,493
3,572,488
Corporation tax recoverable
149,230
-
0
Other debtors
-
0
500
Prepayments and accrued income
213,519
136,510
4,457,242
3,709,498
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
16
1,069,376
259,346
Trade creditors
1,191,320
962,722
Corporation tax
-
0
149,170
Other taxation and social security
461,890
358,319
Other creditors
47,244
85,500
Accruals and deferred income
38,514
25,254
2,808,344
1,840,311

Net obligations under hire purchase contracts totalling £1,069,376 (2024: £259,346) are secured by fixed charges on the assets concerned.

ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 21 -
15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
16
199,306
-
0
16
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
1,127,629
259,346
In two to five years
210,300
-
0
1,337,929
259,346
Less: future finance charges
(69,247)
-
0
1,268,682
259,346

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

17
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
1,598,559
1,237,369
Retirement benefit obligations
(462)
(400)
1,598,097
1,236,969
2025
Movements in the year:
£
Liability at 1 May 2024
1,236,969
Charge to profit or loss
361,128
Liability at 30 April 2025
1,598,097
ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 22 -
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
122,204
276,860

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Contributions totalling £5,085 (2024: £4,372) were payable to the fund at the balance sheet date and are included in other creditors.

19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
78
120
78
120
Ordinary A Shares of £1 each
72
30
72
30
Ordinary B Shares of £1 each
1
1
1
1
Ordinary C Shares of £1 each
1
1
1
1
Ordinary D Shares of £1 each
1
1
1
1
Ordinary E Shares of £1 each
1
1
1
1
Ordinary F Shares of £1 each
1
1
1
1
155
155
155
155

Each Ordinary Share and each Ordinary A Share has the right to vote, the right to receive such dividends (only on the respective class) as may be declared by the Directors, the right to repayment of £1 per share on a winding up and to participate in any surplus on such winding up. All such shares are not redeemable.

Each Ordinary B share has no voting rights, has the right to receive a non-cumulative dividend of £20,000 adjusted for RPI, in full annually in arrears on 6 April in each calendar year and the right to repayment of £1 per share on a winding up. All such shares are not redeemable.

Each Ordinary C, D, E, and F Share has no voting rights, has the right to receive such dividends (only on the respective class) as may be declared by the Directors and the right to repayment of £1 per share on a winding up. All such shares are not redeemable.

20
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
114,000
96,000
Years 2-5
210,500
84,500
324,500
180,500
ERNEST COOPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 23 -
21
Related party transactions

During the year the company paid dividends of £162,115 (2024: £161,033) to shareholders who are also directors of the company. The remaining £160,000 (2024: £320,000) were paid to beneficiaries of trusts who are family members of the directors of the company.

At the end of the year £35,980 (2024: £11,655) was owed to the directors and included within other creditors.

22
Cash generated from operations
2025
2024
£
£
Profit after taxation
627,798
1,080,406
Adjustments for:
Taxation charged
211,957
363,058
Finance costs
49,601
33,156
Investment income
(140)
(12,165)
Loss/(gain) on disposal of tangible fixed assets
30,214
(547)
Depreciation and impairment of tangible fixed assets
1,912,649
1,695,331
Movements in working capital:
Decrease in stocks
1,742
113,735
(Increase)/decrease in debtors
(598,508)
20,358
Increase/(decrease) in creditors
307,173
(121,464)
Cash generated from operations
2,542,486
3,171,868
23
Analysis of changes in net funds/(debt)
1 May 2024
Cash flows
New leases
30 April 2025
£
£
£
£
Cash at bank and in hand
1,301,185
(79,923)
-
1,221,262
Lease liabilities
(259,346)
960,169
(1,969,505)
(1,268,682)
1,041,839
880,246
(1,969,505)
(47,420)
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