Campbell Bulk Haulage Limited 30/11/2024 iXBRL

Company registration number: NI602888

Campbell Bulk Haulage Limited

Financial statements

30 November 2024

Campbell Bulk Haulage Limited

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Statement of cash flows

Notes to the financial statements

Campbell Bulk Haulage Limited

Directors and other information


	Directors	Mr Derek Campbell
		Mrs Caroline Campbell


	Secretary	Caroline Campbell


	Company number	NI602888


	Registered office	11 Tievenamara Road
		Carnagh
		Keady
		Armagh
		BT60 3JA


	Business address	11 Tievenamara Road
		Carnagh
		Keady
		Co. Armagh
		BT60 3JA


	Auditor	E A Grimley & Co
		16 Clonoe Village Business Park
		Dungannon
		Co Tyrone
		Tyrone
		BT71 4PU


	Accountants	E A Grimley & Co
		16 Clonoe Village Business Park
		Washingbay Road
		Coalisland
		Tyrone
		BT71 4PU




	Bankers	First Trust Bank
		English Street
		Armagh
		BT61 7LD

		Allied Irish Bank
		Monaghan


	Solicitors	Gus Campbell Solicitors
		7 College Street
		Armagh
		BT61 9BT

Campbell Bulk Haulage Limited

Strategic report

Year ended 30 November 2024

Results

The trading performance of the Company for the year was satisfactory and reflects the combined impacts of the market environments in which it operates; the resultant competitor activity; the investment in new assets and the mix of currencies in which it trades.

Business review, development and performance

The Company has performed satisfactorily during the year and it is expected that it will continue to make progress over the medium term, despite increased pressure on a heavily regulated environment, downward pressure on pricing in many markets which are serviced and inflationary increases impacting costs. The directors have determined that the following key performance indicators (KPls) covering financial performance are the most effective measure of progress towards achieving the Company's objectives: revenues and revenue growth; investment in assets; operating profit and operating profit growth; and cash flow. Non financial KPls are managed throughcustomer reviews, transport reviews.

Key risks and uncertainties affecting the business

Competition is always present in this specialised niche industry. We aim to stay ahead of our competition by ensuring that our serices offering is at the highest standards. Following Brexit, Ireland secured a short-term derogation allowing the continued export of MBM to Britain until June 30, 2025. The derogation was exented for a further two years in 2025. According to DAFM, other EU member states cannot currently provide a viable outlet for the MBM, due to economic and environmental constraints.

Statement in Compliance with Section 172 {1) of the Companies Act 2006

The directors of Campbell Bulk Haulage Limited seek to promote the long term success of the Company for the benefit of stakeholders as a whole. In doing so, the directors have regard to:

(a) The likely consequences of any decision in the long term

(b) The interests of the company's employees

(c) The need to foster the company's business relationship with customers, suppliers and others

(d) The impact of the company's operations on the community and the environment

(e) The desirability of the company maintaining a reputation for high standards of business conduct

(f) The need to act fairly as between members of the company '

The directors regularly review the performance of the Company

This report was approved by the board of directors on 29 October 2025 and signed on behalf of the board by:

Mr Derek Campbell

Director

Campbell Bulk Haulage Limited

Directors report

Year ended 30 November 2024

The directors present their report and the financial statements of the company for the year ended 30 November 2024.

Directors

The directors who served the company during the year were as follows:

Mr Derek Campbell

Mrs Caroline Campbell

In accordance with the Articles of Association, the directors do not retire by rotation.

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Future developments

The road haulage industry is changing significantly; driven by technological advancements, sustainability initiatives, and regulatory changes. Businesses must stay ahead of these shifts to remain competitive in an evolving market.

Financial instruments

As the company does not participate in finance instruments there is no exposure.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors 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 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 judgments 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 29 October 2025 and signed on behalf of the board by:

Mr Derek Campbell

Director

Campbell Bulk Haulage Limited

Independent auditor's report to the members of

Campbell Bulk Haulage Limited

Year ended 30 November 2024

Opinion

We have audited the financial statements of Campbell Bulk Haulage Limited (the 'company') for the year ended 30 November 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the company's affairs as at 30 November 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report 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 has 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 directors' report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or 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 the 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' responsibilities statement, 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Extent to which the audit was considered capable of detecting irregularities, including fraud The objectives of our audit in respect of fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company. Based on our understanding of the charitable company and its operating environment, we determined that the most significant frameworks which have a direct impact on the preparation of the financial statements are those related to the reporting framework, (FRS 102, and the Companies Act 2006). Additionally, we concluded that there are significant laws and regulations in relation to the company's charitable status and activities of which non-compliance may have a material effect on the financial statements. We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunities to manage earnings or influence the reported results. From the results of our assessment, we determined that the principal risks of fraud relate to posting inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In common with all audits under ISAs (UK), we are required to perform specific procedures to respond to the risk of management override. Audit response to risks identified As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ethna Grimley (Senior Statutory Auditor)

For and on behalf of

E A Grimley & Co

Chartered Accountants & Registered Auditor and Registered Auditors

16 Clonoe Village Business Park

Dungannon

Co Tyrone

Tyrone

BT71 4PU

29 October 2025

Campbell Bulk Haulage Limited

Statement of comprehensive income

Year ended 30 November 2024

		2024	2023
	Note	£	£


Turnover	4	10,491,910	9,758,945
Cost of sales		( 8,813,061)	( 8,370,695)
		_______	_______
Gross profit		1,678,849	1,388,250

Administrative expenses		( 1,441,291)	( 993,315)
Other operating income	5	8,058	8,294
		_______	_______
Operating profit	6	245,616	403,229

Other interest receivable and similar income	9	-	445
Interest payable and similar expenses	10	( 93,401)	( 48,455)
Profit before taxation		152,215	355,219

Tax on profit	11	( 91,000)	( 147,666)
		_______	_______
Profit for the financial year and total comprehensive income		61,215	207,553
		_______	_______

All the activities of the company are from continuing operations.

Campbell Bulk Haulage Limited

Statement of financial position

30 November 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	14	3,307,742		3,376,010
		_______		_______
			3,307,742		3,376,010

Current assets
Debtors	15	1,756,116		1,803,502
Cash at bank and in hand		1,277,241		899,422
		_______		_______
		3,033,357		2,702,924
Creditors: amounts falling due
within one year	17	( 2,095,153)		( 1,641,471)
		_______		_______
Net current assets			938,204		1,061,453
			_______		_______
Total assets less current liabilities			4,245,946		4,437,463

Creditors: amounts falling due
after more than one year	18		( 1,005,499)		( 1,259,230)

Provisions for liabilities	19		( 683,000)		( 592,000)

			_______		_______
Net assets			2,557,447		2,586,233
			_______		_______

Capital and reserves
Called up share capital	22		100		100
Profit and loss account			2,557,347		2,586,133
			_______		_______
Shareholders funds			2,557,447		2,586,233
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 29 October 2025 , and are signed on behalf of the board by:

Mr Derek Campbell

Director

Company registration number: NI602888

Campbell Bulk Haulage Limited

Statement of changes in equity

Year ended 30 November 2024

	Called up share capital	Profit and loss account
	£	£


At 1 December 2022	100	2,418,580

Profit for the year		207,553
	_______	_______
Total comprehensive income for the year	-	207,553

Dividends paid and payable		( 40,000)
	_______	_______
Total investments by and distributions to owners	-	( 40,000)

	_______	_______
At 30 November 2023 and 1 December 2023	100	2,586,132

Profit for the year		61,215
	_______	_______
Total comprehensive income for the year	-	61,215

Dividends paid and payable		( 90,000)
	_______	_______
Total investments by and distributions to owners	-	( 90,000)

	_______	_______
At 30 November 2024	100	2,557,347
	_______	_______

Campbell Bulk Haulage Limited

Statement of cash flows

Year ended 30 November 2024

		2024	2023
	Note	£	£

Cash flows from operating activities
Profit for the financial year		61,215	207,553

Adjustments for:
Depreciation of tangible assets		627,543	633,068
Other interest receivable and similar income		-	( 445)
Interest payable and similar expenses		93,401	48,455
Gain/(loss) on disposal of tangible assets		87,074	66,820
Tax on profit		91,000	147,666

Changes in:
Trade and other debtors		47,386	( 13,096)
Trade and other creditors		497,424	( 50,822)
		_______	_______
Cash generated from operations		1,505,043	1,039,199

Interest paid		( 93,401)	( 48,455)
Interest received		-	445
Tax paid		-	( 107,666)
		_______	_______
Net cash from operating activities		1,411,642	883,523
		_______	_______

Cash flows from investing activities
Purchase of tangible assets		( 725,211)	( 1,717,043)
Proceeds from sale of tangible assets		78,862	215,247
		_______	_______
Net cash used in investing activities		( 646,349)	( 1,501,796)
		_______	_______

Cash flows from financing activities
Proceeds from borrowings		( 21,173)	-
Payment of finance lease liabilities		( 276,253)	932,009
Equity dividends paid		( 90,000)	( 40,000)
		_______	_______
Net cash (used in)/from financing activities		( 387,426)	892,009
		_______	_______

Net increase/(decrease) in cash and cash equivalents		377,867	273,736
Cash and cash equivalents at beginning of year	16	899,375	625,638
		_______	_______
Cash and cash equivalents at end of year	16	1,277,242	899,374
		_______	_______

Campbell Bulk Haulage Limited

Notes to the financial statements

Year ended 30 November 2024

1. General information

The company is a private company limited by shares, registered in UK. The address of the registered office is 11 Tievenamara Road, Carnagh, Keady, Armagh, BT60 3JA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	10 %	reducing balance
Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Rendering of services	10,491,910	9,758,945
	_______	_______

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2024	2023
	£	£
Other operating income	8,058	8,294
	_______	_______

6. Operating profit

Operating profit is stated after charging/(crediting):

	2024	2023
	£	£
Depreciation of tangible assets	627,543	633,068
(Gain)/loss on disposal of tangible assets	87,074	66,820
Impairment of trade debtors	22,000	-
Fees payable for the audit of the financial statements	8,000	8,000
	_______	_______

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2024	2023
Distribution staff	45	41
Administrative staff	11	11
	_______	_______
	56	52
	_______	_______

The aggregate payroll costs incurred during the year were:

	2024	2023
	£	£
Wages and salaries	2,302,224	2,049,468
Other pension costs	276,441	34,551
	_______	_______
	2,578,665	2,084,019
	_______	_______

8. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2024	2023
	£	£
Remuneration	305,474	220,612
	_______	_______

Remuneration of the highest paid directors in respect of qualifying services:

	2024	2023
	£	£
Aggregate remuneration	-	-
Company contributions to pension plans in respect of qualifying services	240,000	-
	_______	_______
	240,000	-
	_______	_______

9. Other interest receivable and similar income

	2024	2023
	£	£
Bank deposits	-	445
	_______	_______

10. Interest payable and similar expenses

		2024	2023
		£	£
Other loans made to the company:
	Finance leases and hire purchase contracts	74,629	48,455
Other interest payable and similar expenses		18,772	-
		_______	_______
		93,401	48,455
		_______	_______

11. Tax on profit

Major components of tax expense

	2024	2023
	£	£
Current tax:
UK current tax expense/income	-	( 2,334)
Adjustments in respect of previous periods	-	( 15,000)
	_______	_______

Deferred tax:
Origination and reversal of timing differences	91,000	165,000
	_______	_______
Tax on profit	91,000	147,666
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25.00 % (2023: 25.00%).

	2024	2023
	£	£
Profit before taxation	152,215	355,219
	_______	_______

Profit multiplied by rate of tax	38,054	88,805
Adjustments in respect of prior periods	-	( 15,000)
Effect of capital allowances and depreciation	51,000	113,000
Utilisation of tax losses	-	( 40,000)
Rounding on tax charge	1,946	861
	_______	_______
Tax on profit	91,000	147,666
	_______	_______

12. Earnings per share

Basic earnings/(loss) per share

The earnings/(loss) and weighted average number of shares used in the calculation of basic earnings/(loss) per share are as follows:

	2024	2023
	£	£
Profit for the year attributable to the owners of the company	61,215	207,553
	_______	_______

Diluted earnings/(loss) per share

The earnings/(loss) and weighted average number of shares used in the calculation of diluted earnings/(loss) per share are as follows:

	2024	2023
	£	£
Earnings/(loss) used in calculation of basic earnings/(loss) per share	61,215	207,553
	_______	_______

13. Dividends

Equity dividends

	2024	2023
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	90,000	40,000
	_______	_______

14. Tangible assets

	Motor vehicles	Trailers	Garage	Plant & Equipment	Tractor Units	Building Adaptations	Total
	£	£	£	£	£	£	£
Cost
At 1 December 2023	345,291	1,517,401	14,335	323,399	3,367,685	106,527	5,674,638
Additions	126,500	234,640	2,965	14,499	346,607	-	725,211
Disposals	( 85,675)	-	-	-	( 296,374)	-	( 382,049)
	_______	_______	_______	_______	_______	_______	_______
At 30 November 2024	386,116	1,752,041	17,300	337,898	3,417,918	106,527	6,017,800
	_______	_______	_______	_______	_______	_______	_______
Depreciation
At 1 December 2023	81,871	729,277	12,916	180,605	1,228,131	65,828	2,298,628
Charge for the year	52,667	167,840	1,096	21,716	380,154	4,070	627,543
Disposals	( 31,223)	-	-	-	( 184,890)	-	( 216,113)
	_______	_______	_______	_______	_______	_______	_______
At 30 November 2024	103,315	897,117	14,012	202,321	1,423,395	69,898	2,710,058
	_______	_______	_______	_______	_______	_______	_______
Carrying amount
At 30 November 2024	282,801	854,924	3,288	135,577	1,994,523	36,629	3,307,742
	_______	_______	_______	_______	_______	_______	_______
At 30 November 2023	263,420	788,124	1,419	142,794	2,139,554	40,699	3,376,010
	_______	_______	_______	_______	_______	_______	_______

15. Debtors

	2024	2023
	£	£
Trade debtors	1,507,850	1,514,775
Prepayments and accrued income	193,680	161,980
Other debtors	54,586	126,747
	_______	_______
	1,756,116	1,803,502
	_______	_______

16. Cash and cash equivalents

	2024	2023
	£	£
Cash at bank and in hand	1,277,241	899,422
Bank overdrafts	-	( 47)
	_______	_______
	1,277,241	899,375
	_______	_______

17. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	-	47
Trade creditors	996,065	534,273
Accruals and deferred income	171,626	219,126
Social security and other taxes	306,936	196,542
Obligations under finance leases	556,194	578,716
Director loan accounts	-	21,173
Other creditors	64,332	91,594
	_______	_______
	2,095,153	1,641,471
	_______	_______

18. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Obligations under finance leases	1,005,499	1,259,230
	_______	_______

19. Provisions

	Deferred tax (note 20)	Total
	£	£
At 1 December 2023	592,000	592,000
Additions	91,000	91,000
	_______	_______
At 30 November 2024	683,000	683,000
	_______	_______

20. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 19)	683,000	592,000
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	683,000	632,000
Unused tax losses	-	( 40,000)
	_______	_______
	683,000	592,000
	_______	_______

21. Employee benefits

The company does not operate a defined contribution plan.

22. Called up share capital

Issued, called up and fully paid

	2024		2023
	No	£	No	£
Ordinary shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

23. Analysis of changes in net debt

	At 1 December 2023	Cash flows	At 30 November 2024
	£	£	£
Cash and cash equivalents	899,422	377,819	1,277,241
Bank overdrafts	(47)	47	-
Debt due within one year	(599,889)	43,695	(556,194)
Debt due after one year	(1,259,230)	253,731	(1,005,499)
	_______	_______	_______
	( 959,744)	675,292	( 284,452)
	_______	_______	_______

24. Contingent assets and liabilities

There are no contingent liabilities at the balance sheet date.

25. Limitation of auditors liability

The directors, on behalf of the company, have entered into a Limited Liability Agreement with their auditors. The auditor's liability is limited to an amount which is considered fair and reasonable. This has been disclosed in line with company legislation.

26. Directors advances, credits and guarantees

	During the year the directors advanced £1,595.

27. Related party transactions

Rent at market value is paid to the pension company of which the directors are beneficiaries.

28. Controlling party

The ultimate controlling parties are the shareholders of the company.