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REGISTERED NUMBER: 01420291 (England and Wales)

Portable Movements Limited

Financial Statements for the Year Ended 30th April 2025

Portable Movements Limited (Registered number: 01420291)

Contents of the Financial Statements

for the year ended 30th April 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

Portable Movements Limited

Company Information

for the year ended 30th April 2025

| DIRECTORS: | P A Brown

| J C Brown

| C Moody

| C Andrew

| S Dean

| P C Allon

| SECRETARY: | P C Allon

| REGISTERED OFFICE: | Overseas House

| Livingstone Road

| Hessle

| Hull

| East Yorkshire

| HU13 0EG

| REGISTERED NUMBER: | 01420291 (England and Wales)

| AUDITORS: | Smailes Goldie

| Chartered Accountants

| Statutory Auditor

| Regent's Court

| Princess Street

| Hull

| East Yorkshire

| HU2 8BA

Portable Movements Limited (Registered number: 01420291)

Balance Sheet

30th April 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 425,547 |  | 549,940 |  |

CURRENT ASSETS

Debtors | 6 | 5,981,782 |  | 5,279,323 |  |

Cash at bank | 7 | 456,830 |  | 461,065 |  |

6,438,612 |  | 5,740,388 |  |

CREDITORS

Amounts falling due within one year | 8 | 4,852,964 |  | 3,925,228 |  |

NET CURRENT ASSETS | 1,585,648 |  | 1,815,160 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,011,195 |  | 2,365,100 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (205,880 | ) | (316,851 | ) |

PROVISIONS FOR LIABILITIES | (86,842 | ) | (113,713 | ) |

NET ASSETS | 1,718,473 |  | 1,934,536 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 100 |  | 100 |  |

Retained earnings | 1,718,373 |  | 1,934,436 |  |

SHAREHOLDERS' FUNDS | 1,718,473 |  | 1,934,536 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th October 2025 and were signed on its behalf by:

P A Brown - Director

Portable Movements Limited (Registered number: 01420291)

Notes to the Financial Statements

for the year ended 30th April 2025

1. | STATUTORY INFORMATION

| Portable Movements 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.

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" including the provisions of Section 1A "Small Entities" 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 4 Statement of Financial Position paragraph 4.12(a)(iv);

| - the requirements of Section 7 Statement of Cash Flows;

| - the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d);

| - the requirement of Section 33 Related Party Disclosures paragraph 33.7.

| This information is included in the consolidated financial statements of Neill & Brown Global Logistics Limited as at 30 April 2025 and these financial statements may be obtained from Overseas House, Waterside Trading Park, Livingstone Road.

| Turnover

| Turnover is recognised at the point the company has completed its services to the customer and to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

| Depreciation is charged, so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The estimated useful lives range as follows:

| - Trailers - 10% per annum on cost

| - Motor Vehicles - 20% per annum on cost less residual value

| Motor vehicles which have a guaranteed buy back arrangement in place are depreciated down to the buyback value on a straight line basis.

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within the Statement of income and retained earnings.

Portable Movements Limited (Registered number: 01420291)

Notes to the Financial Statements - continued

for the year ended 30th April 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| Financial assets

| Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment 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 the statement of income and retained earnings.

| 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) 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.

| Financial liabilities

| Basic financial liabilities, including trade and other payables, bank loans, and trading loans from fellow group companies, 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 receipts discounted at a market rate of interest.

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

| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

| Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate.

| The company does not currently apply hedge accounting for foreign exchange derivatives.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Portable Movements Limited (Registered number: 01420291)

Notes to the Financial Statements - continued

for the year ended 30th April 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except that a change attributable to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

| The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

| Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the difference between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Pensions

| 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.

| The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

| The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

| Provisions for liabilities

| Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

| Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

| When payments are eventually made, they are charged to the provision carried in the balance sheet.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 16 (2024 - 15 ) .

4. | AUDITORS' REMUNERATION

| 2025 |  | 2024

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 7,146 |  | 6,865 |  |

Portable Movements Limited (Registered number: 01420291)

Notes to the Financial Statements - continued

for the year ended 30th April 2025

5. | TANGIBLE FIXED ASSETS

| Motor

| vehicles

£ |

| COST

| At 1st May 2024

| and 30th April 2025 | 861,169 |  |

| DEPRECIATION

| At 1st May 2024 | 311,229 |  |

| Charge for year | 124,393 |  |

| At 30th April 2025 | 435,622 |  |

| NET BOOK VALUE

| At 30th April 2025 | 425,547 |  |

| At 30th April 2024 | 549,940 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 689,462 |  | 466,400 |  |

| Amounts owed by group undertakings | 5,243,931 |  | 4,707,744 |  |

| Other debtors | 48,389 |  | 105,179 |  |

5,981,782 |  | 5,279,323 |  |

| Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

7. | CASH AT BANK

2025 | 2024 |

£ | £ |

| Bank account | 456,830 |  | 461,065 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 792,042 |  | 516,366 |  |

| Amounts owed to group undertakings | 3,684,403 |  | 3,005,382 |  |

| Taxation and social security | 116,534 |  | 157,148 |  |

| Other creditors | 259,985 |  | 246,332 |  |

4,852,964 |  | 3,925,228 |  |

| Included in creditors due within one year are secured creditors of £110,971 (2024: £111,490) relating to related party pension fund loans. These creditors are secured against tangible fixed assets. All other creditors are unsecured, interest free and repayable on demand.

Portable Movements Limited (Registered number: 01420291)

Notes to the Financial Statements - continued

for the year ended 30th April 2025

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other creditors | 205,880 |  | 316,851 |  |

| Included in creditors falling due after more than one year are secured creditors of £205,880 (2024: £316,851). The other loans are secured against tangible fixed assets and repayable in period of 5 years at interest rates of 2.74%.

10. | LOANS

| An analysis of the maturity of loans is given below:

|  | 2025 |  |  | 2024 |  |

| Amounts falling due within one year or on demand: |  |

| Pension fund loan |  |  | 110,971 |  |  | 111,490 |  |

|  | 110,971 |  |  | 111,490 |  |  |

| Amounts falling due between one and two years: |  |

| Pension Fund Loan |  |  | 94,268 |  |  | 110,971 |  |

|  | 94,268 |  |  | 110,971 |  |  |

| Amounts falling due between two and five years: |  |

| Pension fund loan |  |  | 111,613 |  |  | 205,880 |  |

|  | 111,613 |  |  | 205,880 |  |  |

11. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 7,920 |  | 4,298 |  |

| Between one and five years | 13,199 |  | - |  |

21,119 |  | 4,298 |  |

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| William Cowell ACA (Senior Statutory Auditor)

| for and on behalf of Smailes Goldie

Portable Movements Limited (Registered number: 01420291)

Notes to the Financial Statements - continued

for the year ended 30th April 2025

14. | PENSION COMMITMENTS

| The company contributes to a workplace pension scheme for its employees. The pension charge represents contributions made by the company and amounted to £35,848 (2024: £91,181). There were no contributions prepaid or outstanding at the balance sheet date.

15. | RELATED PARTY DISCLOSURES

| 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.

| During the year the company borrowed £NIL (2024: £339,779) from the Neill and Brown Global Logistics Group Directors' Pension Scheme.

| The existing loans are all secured against the vehicles and interest of £25,873 (2024: £20,879) was paid during the year. At the balance sheet date £316,852 (2024: £428,342) was outstanding

16. | ULTIMATE CONTROLLING PARTY

| The company is wholly owned by Neill and Brown Limited, a company registered in England no. 348187.

| The ultimate controlling company is Neill and Brown Global Logistics Group Limited, a company registered in England no. 2253582 in whose accounts the results are consolidated. No one person has control of that company.