REGISTERED NUMBER: 04314395 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

HEWICKS HAULAGE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

Mr C A Hewick

Mrs C A Hewick

Mr C Brinkley

Mr C J Raison

SECRETARY:

Mrs C A Hewick

REGISTERED OFFICE:

Fleming Court

Leigh Road

Eastleigh

Hampshire

SO50 9PD

BUSINESS ADDRESS:

Loft Farm

Cockfield

Bury St Edmunds

Suffolk

IP30 0LJ

REGISTERED NUMBER:

04314395 (England and Wales)

AUDITORS:

Langdowns DFK Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

The directors present their strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS, DEVELOPMENT AND PERFORMANCE

The Company mainly provides specialist liquids transport, traction and freight. The Company uses an established modern fleet of vehicles to provide these services throughout the United Kingdom and has a team of dedicated, highly qualified and experienced drivers and staff with specialist knowledge and training in the handling of food and feed products.

The company also trades animal feed products and has contracts with breweries, dairies and drinks/food manufacturers throughout the United Kingdom to remove their surplus co-products and sell them to the pig farming and anaerobic digestate sectors.

The Company has five specialist areas in the United Kingdom:-

-

Collection and delivery of our own liquid co-products to our own customers

-

Transportation of 3rd party liquid co-products to 3rd party customers

-

Dry freight haulage, including brewery barrels

-

Small amount of container haulage from the docks

-

Transportation of liquid waste not suitable for feed or food

The Company measures performance on a monthly basis through a range of systems and reports. Financial KPI's include sales, gross margin, net assets and cashflow, with turnover and operating profit being the two main key performance indicators considered by the Directors.

Turnover for the year ended 31 January 2025 was £12,628,423 compared to £11,253,774 for the previous year. This is a 12% increase when compared to figures for the previous period.

However, our Operating Profit for the year ended 31 January 2025 was £1,075,892 compared to £1,310,224 for the year to 31 January 2024. This is a decrease of 18% when compared to figures for the previous period.

The fall in Operating Profit was mainly due to three factors - industry led wage increases for all staff, a dramatic increase in insurance premiums and further investment in new vehicle technology to meet increased safety compliance legislation for London.

Although the Directors were aware of the increase in running costs, due to contractual constraints with customers we were unable to increase our revenue accordingly. We have however, addressed this going forward into the next financial year.

Under the ethos of the Employee Ownership Trust, the Company continues to enhance the sense of true ownership shared by the employees and was delighted to share 3.5% of the profits with them. The Company is also striving to enhance staff wellbeing by offering Private Medical Care to all.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors consider there are several principal risks to the Company.

Financing

The Company uses various financial instruments for financing, including bank loans, other loans and hire purchase contracts. The main purpose of these financing instruments is to provide continuing investment in the fleet of haulage vehicles. The risk to the Company is the increased cost of borrowing, which the Directors look to minimise by taking out finance under fixed rate agreements.

Resourcing

The industry continues to have a shortage of experienced, high quality drivers, with the RHA claiming that 200,000 new drivers will be needed in the next five years. Unfortunately, there is a lack of young drivers coming into the industry and we would welcome Government or local initiatives that encourages industry collaboration with schools and colleges.

We currently offer a bonus to any employee that introduces a new HGV driver to the company.

Transport Costs

As transport costs are a significant proportion of our sales costs, the Directors have looked to minimise this risk by purchasing fuel on a fixed weekly scheme with various competing fuel companies.

Uncertain geo-political influences can cause dramatic fuel escalation affecting our cashflow. To minimise this risk, we have taken out a hedge on fuel costs going forward. This gives us a fixed base price and enables the Company to budget more effectively

Economy

The Economic situation in the UK during 2024 stagnated causing some customers to delay payment of invoices. The Company continually monitors and chases all outstanding debts with the aim of everyone paying on our terms.

However, the food/feed sector remained buoyant so demand for our services continues to be strong. On the back of this the Company was able to expand our asset base to accommodate this growing sector.

BY ORDER OF THE BOARD:

Mrs C A Hewick - Secretary

14 October 2025

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2025.

RESEARCH AND DEVELOPMENT

Hewicks Haulage Limited has not directly undertaken any research and development activities.

FUTURE DEVELOPMENTS

The directors aim to maintain the existing management policies which have resulted in the company's present financial position and to ensure that management are well positioned to continue to develop the business.

DIRECTORS

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

Mr C A Hewick

Mrs C A Hewick

Mr C Brinkley

Mr C J Raison

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;

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

AUDITORS

The auditors, Langdowns DFK Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

BY ORDER OF THE BOARD:

Mrs C A Hewick - Secretary

14 October 2025

Opinion

We have audited the financial statements of Hewicks Haulage Limited (the 'company') for the year ended 31 January 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

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:

As part of our audit planning procedures we identify the significant laws and regulations applicable to the company based upon our knowledge of the company, the industry in which it operates and from making enquiries with management. We consider those laws and regulations where non-compliance may have a material effect on the financial statements and those which have a direct impact on the financial statements. We identified that the most significant laws and regulations applicable during the year were compliance with the requirements of the Companies Act 2006 and compliance with regulations in connection with haulage and specialist liquids transportation.

Audit procedures performed by the engagement team in relation to laws and regulations include making enquiries of management as to any known or suspected instances of non-compliance, maintaining awareness throughout the course of the audit as to any indications of instances of non-compliance, reviewing legal and professional invoices for any indications of instances of non-compliance and undertaking a review of the disclosures in the financial statements to supporting information and to disclosure checklists.

We also consider areas that are at a higher risk of causing material misstatement in the financial statements due to irregularities, including those resulting from fraud and how such fraud may occur. We discuss with senior management the key controls in place to mitigate the risk of fraud and enquire as to whether they are aware of, or suspect, any fraudulent activities having taken place.

Throughout the audit, we maintain an appropriate level of professional scepticism when provided with information and explanations. We consider the appropriateness of significant accounting journals that were processed during the year, assess the reasonableness of any significant accounting estimates and consider whether there were any indications of bias by management during the year that represents a risk of material misstatement due to fraud. We also carry out analytical procedures to identify any unusual or unexpected variances to expectations as these may be an indication of management over-ride or management bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Graham Taylor (Senior Statutory Auditor)

for and on behalf of Langdowns DFK Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

21 October 2025

TURNOVER

4

12,628,423

11,253,774

Cost of sales

10,671,698

9,090,225

GROSS PROFIT

1,956,725

2,163,549

Administrative expenses

925,184

915,587

1,031,541

1,247,962

Other operating income

44,351

62,262

OPERATING PROFIT

6

1,075,892

1,310,224

Interest receivable and similar income

15,593

13,484

1,091,485

1,323,708

Interest payable and similar expenses

7

223,708

132,820

PROFIT BEFORE TAXATION

867,777

1,190,888

Tax on profit

8

217,356

318,834

PROFIT FOR THE FINANCIAL YEAR

650,421

872,054

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

650,421

872,054

FIXED ASSETS

Tangible assets

9

7,471,471

6,481,043

CURRENT ASSETS

Debtors

10

2,867,848

2,557,065

Cash at bank and in hand

1,013,328

908,467

3,881,176

3,465,532

CREDITORS

Amounts falling due within one year

11

3,731,424

2,344,457

NET CURRENT ASSETS

149,752

1,121,075

TOTAL ASSETS LESS CURRENT LIABILITIES

7,621,223

7,602,118

CREDITORS

Amounts falling due after more than one year

12

(1,703,121

)

(1,712,773

)

PROVISIONS FOR LIABILITIES

16

(1,153,616

)

(936,260

)

NET ASSETS

4,764,486

4,953,085

CAPITAL AND RESERVES

Called up share capital

17

200

200

Retained earnings

18

4,764,286

4,952,885

SHAREHOLDERS' FUNDS

4,764,486

4,953,085

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2025 and were signed on its behalf by:

Mr C A Hewick - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

200

4,728,739

4,728,939

Changes in equity

Total comprehensive income

-

872,054

872,054

Contributions to Employee Ownership Trust

-

(647,908

)

(647,908

)

Balance at 31 January 2024

200

4,952,885

4,953,085

Changes in equity

Total comprehensive income

-

650,421

650,421

Contributions to Employee Ownership Trust

-

(839,020

)

(839,020

)

Balance at 31 January 2025

200

4,764,286

4,764,486

Cash flows from operating activities

Cash generated from operations

1

3,459,263

2,344,016

Interest paid

(14,588

)

(35,010

)

Interest element of hire purchase payments paid

(209,120

)

(97,810

)

Net cash from operating activities

3,235,555

2,211,196

Cash flows from investing activities

Purchase of tangible fixed assets

(978,287

)

(342,130

)

Sale of tangible fixed assets

198,000

218,850

Interest received

15,593

13,484

Net cash from investing activities

(764,694

)

(109,796

)

Cash flows from financing activities

Cash (outflow) / inflow from loans

195,688

(310,878

)

Capital repayments in year

(1,722,668

)

(1,197,366

)

Contributions - Employee-Ownership Trust

(839,020

)

(647,908

)

Net cash from financing activities

(2,366,000

)

(2,156,152

)

Increase/(decrease) in cash and cash equivalents

104,861

(54,752

)

Cash and cash equivalents at beginning of year

2

908,467

963,219

Cash and cash equivalents at end of year

2

1,013,328

908,467

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

2025

2024

£

£

Profit before taxation

867,777

1,190,888

Depreciation charges

1,674,112

1,238,447

Loss on disposal of fixed assets

55,867

92,790

Fixed asset investment impairment

-

100

Finance costs

223,708

132,820

Finance income

(15,593

)

(13,484

)

2,805,871

2,641,561

Increase in trade and other debtors

(310,783

)

(230,565

)

Increase/(decrease) in trade and other creditors

964,175

(66,980

)

Cash generated from operations

3,459,263

2,344,016

2.	CASH AND CASH EQUIVALENTS

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

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

1,013,328

908,467

Year ended 31 January 2024

31.1.24

1.2.23

£

£

Cash and cash equivalents

908,467

963,219

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.2.24

Cash flow

changes

At 31.1.25

£

£

£

£

Net cash

Cash at bank

and in hand

908,467

104,861

1,013,328

908,467

104,861

1,013,328

Debt

Finance leases

(2,683,403

)

1,722,668

(1,940,120

)

(2,900,855

)

Debts falling due

within 1 year

(128,677

)

42,157

-

(86,520

)

Debts falling due

after 1 year

(155,143

)

(237,845

)

-

(392,988

)

(2,967,223

)

1,526,980

(1,940,120

)

(3,380,363

)

Total

(2,058,756

)

1,631,841

(1,940,120

)

(2,367,035

)

1.	STATUTORY INFORMATION

Hewicks Haulage 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 (£).

The company's principal place of business is Loft Farm, Cockfield, Bury St Edmunds, Suffolk, IP30 0LJ.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Hewicks Haulage Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 402 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as under Section 405 of the Companies Act 2006 all of its subsidiary undertakings can be excluded from consolidation.

Significant judgements and estimates

In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and the underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company makes significant investment in tangible fixed assets due to the industry it is in. The company has to consider the estimated useful life and depreciation rates to ensure the value of the tangible fixed assets are written down each year at the most appropriate value. The directors have to consider the type of asset and use their considerable knowledge of the industry to set these policies. The directors keep these under review and assess the levels of profit or loss made on disposals of tangible fixed assets to consider if they are using the most appropriate rates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from the sale of haulage services is recognised when the outcome of a transaction can be estimated reliably and is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date the haulage service is provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% straight line

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Equipment

-

25% on reducing balance

All fixed assets are initially recorded at cost.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company contributes to 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

Provisions

Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefit will be required to settle the obligation and a reliable estimate can be made.

Contributions to Employee Ownership Trust

The Employee Ownership Trust has a controlling interest in the company. Controlling interest is measured by having more than 50% of the ordinary share capital, the voting rights, entitlement to profits available for distribution and assets on winding up. The shares are held for the benefit of all eligible employees (as a group) in accordance with the trust deed and law. The contribution to the Employee Ownership Trust is accounted for as a deduction within equity and is funded out of distributable reserves.

4.

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:

2025

2024

£

£

Haulage

11,281,599

9,692,100

Feed Goods

1,346,824

1,561,674

12,628,423

11,253,774

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,622,003

3,048,744

Social security costs

357,486

298,385

Other pension costs

67,479

56,658

4,046,968

3,403,787

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

2025

2024

Driver staff

62

58

Admin staff

13

11

75

69

2025

2024

£

£

Directors' remuneration

186,264

170,930

Directors' pension contributions to money purchase schemes

2,642

2,642

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

Money purchase schemes

4

4

The key management personnel of Hewicks Haulage Limited are the board of directors.

6.	OPERATING PROFIT

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

Year Ended

Year Ended

31.1.25

31.1.24

£

£

Depreciation

1,674,112

1,238,447

Loss / (Profit) on disposal of fixed assets

55,867

92,790

Operating leases - land and buildings

231,017

185,000

Auditors' remuneration

13,125

12,500

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Other interest payable

14,588

35,010

Hire purchase

209,120

97,810

223,708

132,820

8.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Deferred tax

217,356

318,834

Tax on profit

217,356

318,834

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

867,777

1,190,888

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

216,944

297,722

Effects of:

Expenses not deductible for tax purposes

1,096

11,049

Capital allowances in excess of depreciation

(345,541

)

(354,752

)

Timing differences

(1,206

)

73

Tax losses carried forward

128,707

45,908

Deferred tax

217,356

318,834

Total tax charge

217,356

318,834

Deferred tax has been charged at 25% (2024: 25%).