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REGISTERED NUMBER: 08455514 (England and Wales)

| LARKINS TRANSPORT LIMITED |

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| AUDITED FINANCIAL STATEMENTS |

| FOR THE PERIOD |

| 1 APRIL 2023 TO 30 SEPTEMBER 2024 |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 5 |

| Income Statement | 8 |

| Other Comprehensive Income | 9 |

| Balance Sheet | 10 |

| Statement of Changes in Equity | 11 |

| Cash Flow Statement | 12 |

| Notes to the Cash Flow Statement | 13 |

| Notes to the Financial Statements | 15 |

| LARKINS TRANSPORT LIMITED |

COMPANY INFORMATION

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

| DIRECTORS: | S M Larkins

| Mrs S J Harries

| REGISTERED OFFICE: | Beauchamp House

| 402-403 Stourport Road

| Kidderminster

| Worcestershire

| DY11 7BG

| BUSINESS ADDRESS: | 340 Rushock Trading Estate

| Rushock

| Droitwich

| Worcestershire

| WR9 0NR

| REGISTERED NUMBER: | 08455514 (England and Wales)

| INDEPENDENT AUDITORS: | Stour Accountants Limited

| Chartered Certified Accountants and Statutory

| Auditors

| 402-403 Stourport Road

| Kidderminster

| Worcestershire

| DY11 7BG

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

STRATEGIC REPORT

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

The directors present their strategic report for the period 1 April 2023 to 30 September 2024.

REVIEW OF BUSINESS

The directors are pleased to present the review of the business for the period ended 30th September 2024 and the position of the company at the end of the year. The intention is to portray a balanced and comprehensive summary of the development and performance of the company consistent with the size and relatively uncomplicated nature of the business against the background of any risks and uncertainties that may exist. In doing so, the directors have taken into account only such facts and circumstances of which they are aware at the date of this report.

There has been no change in the principal activity.

The company operates out over one site based in Worcestershire.

The key financial performance indicators of the company are turnover and operating profit.

Turnover - £26,412,946 (2023 - £10,675,090)

Operating profit - £5,303,934 (2023 - £2,750,479)

PRINCIPAL RISKS AND UNCERTAINTIES

The main risks and uncertainties for the business relate to fluctuating fuel prices and interest rate risks.

The company undertakes regular reviews of the principal risks and the business and wherever possible adopts strategies to minimize such risks

ON BEHALF OF THE BOARD:

S M Larkins - Director

10 November 2025

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

REPORT OF THE DIRECTORS

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

The directors present their report with the financial statements of the company for the period 1 April 2023 to 30 September 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of transportation and haulage.

DIVIDENDS

An interim dividend of £3,550 per share on the Ordinary 1.00 £1 shares was paid on 30th April 2023.

An interim dividend of £5,350 per share on the Ordinary 1.00 £1 shares was paid on 30th April 2024.

The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends paid for the period ended 30th September 2024 amounted to £890,000.

DIRECTOR

S M Larkins held office during the whole of the period from 1 April 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mrs S J Harries was appointed as a director after 30 September 2024 but prior to the date of this report.

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.

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

REPORT OF THE DIRECTORS

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

AUDITORS

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

ON BEHALF OF THE BOARD:

S M Larkins - Director

10 November 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LARKINS TRANSPORT LIMITED

Opinion

We have audited the financial statements of Larkins Transport Limited (the 'company') for the period ended 30 September 2024 which comprise the Income Statement, Other 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 30 September 2024 and of its profit for the period 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.

The comparative financial statements were not audited.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LARKINS TRANSPORT LIMITED

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 three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

As part of an audit in accordance with ISA's (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 company’s 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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LARKINS TRANSPORT LIMITED

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.

William David Chinn (Senior Statutory Auditor)

for and on behalf of Stour Accountants Limited

Chartered Certified Accountants and Statutory

Auditors

402-403 Stourport Road

Kidderminster

Worcestershire

DY11 7BG

10 November 2025

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

INCOME STATEMENT

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

| Period |

| 1/4/23 |

| to |  | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

| Notes | £ | £ |

TURNOVER | 26,412,945 |  | 10,675,090 |  |

Cost of sales | 17,453,045 |  | 6,690,159 |  |

GROSS PROFIT | 8,959,900 |  | 3,984,931 |  |

Administrative expenses | 3,655,967 |  | 1,234,452 |  |

OPERATING PROFIT | 4 | 5,303,933 |  | 2,750,479 |  |

Interest receivable and similar income | 6,705 |  | 4,942 |  |

5,310,638 |  | 2,755,421 |  |

Interest payable and similar expenses | 5 | 184,193 |  | 58,987 |  |

PROFIT BEFORE TAXATION | 5,126,445 |  | 2,696,434 |  |

Tax on profit | 6 | 1,358,943 |  | 548,665 |  |

PROFIT FOR THE FINANCIAL PERIOD | 3,767,502 |  | 2,147,769 |  |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

OTHER COMPREHENSIVE INCOME

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

| Period |

| 1/4/23 |

| to |  | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

| Notes | £ | £ |

PROFIT FOR THE PERIOD | 3,767,502 |  | 2,147,769 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 3,767,502 |  | 2,147,769 |  |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

BALANCE SHEET

30 SEPTEMBER 2024

| 2024 | 2023 |

| (Unaudited) |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 8 | 562 |  | - |  |

Tangible assets | 9 | 5,453,087 |  | 2,895,765 |  |

5,453,649 |  | 2,895,765 |  |

CURRENT ASSETS

Debtors | 10 | 3,961,736 |  | 4,638,573 |  |

Cash at bank and in hand | 1,211,046 |  | 3,461 |  |

5,172,782 |  | 4,642,034 |  |

CREDITORS

Amounts falling due within one year | 11 | 3,037,912 |  | 3,203,952 |  |

NET CURRENT ASSETS | 2,134,870 |  | 1,438,082 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,588,519 |  | 4,333,847 |  |

CREDITORS

Amounts falling due after more than one year | 12 | (900,918 | ) | (890,630 | ) |

PROVISIONS FOR LIABILITIES | 16 | (711,386 | ) | (344,504 | ) |

NET ASSETS | 5,976,215 |  | 3,098,713 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 100 |  | 100 |  |

Retained earnings | 18 | 5,976,115 |  | 3,098,613 |  |

SHAREHOLDERS' FUNDS | 5,976,215 |  | 3,098,713 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2025 and were signed on its behalf by:

S M Larkins - Director

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2022 | 100 |  | 1,050,844 |  | 1,050,944 |  |

Changes in equity

Dividends | - |  | (100,000 | ) | (100,000 | ) |

Total comprehensive income | - |  | 2,147,769 |  | 2,147,769 |  |

Balance at 31 March 2023 | 100 |  | 3,098,613 |  | 3,098,713 |  |

Changes in equity

Dividends | - |  | (890,000 | ) | (890,000 | ) |

Total comprehensive income | - |  | 3,767,502 |  | 3,767,502 |  |

Balance at 30 September 2024 | 100 |  | 5,976,115 |  | 5,976,215 |  |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

CASH FLOW STATEMENT

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

| Period |

| 1/4/23 |

| to |  | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 6,693,511 |  | 527,930 |  |

Interest paid | (27,574 | ) | (23,001 | ) |

Interest element of hire purchase payments paid | (156,619 | ) | (35,986 | ) |

Tax paid | (431,696 | ) | 206 |  |

Net cash from operating activities | 6,077,622 |  | 469,149 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (750 | ) | - |  |

Purchase of tangible fixed assets | (3,655,862 | ) | (1,885,082 | ) |

Sale of tangible fixed assets | 210,559 |  | 56,500 |  |

Interest received | 6,705 |  | 4,942 |  |

Net cash from investing activities | (3,439,348 | ) | (1,823,640 | ) |

Cash flows from financing activities

New loans in year | 1,355,351 |  | 1,156,000 |  |

Loan repayments in year | (105,709 | ) | (52,396 | ) |

Capital repayments in year | (934,859 | ) | (191,681 | ) |

Amount introduced by directors | 890,000 |  | 100,000 |  |

Amount withdrawn by directors | (713,020 | ) | (210,276 | ) |

Equity dividends paid | (890,000 | ) | (100,000 | ) |

Net cash from financing activities | (398,237 | ) | 701,647 |  |

Increase/(decrease) in cash and cash equivalents | 2,240,037 |  | (652,844 | ) |

Cash and cash equivalents at beginning of period | 2 | (1,028,991 | ) | (376,147 | ) |

Cash and cash equivalents at end of period | 2 | 1,211,046 |  | (1,028,991 | ) |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE CASH FLOW STATEMENT

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

1. | RECONCILIATION OF OPERATING PROFIT TO CASH GENERATED FROM OPERATIONS

| Period |

| 1/4/23 |

| to | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

£ | £ |

| Operating profit | 5,303,933 |  | 2,750,479 |  |

| Depreciation charges | 860,200 |  | 339,746 |  |

| Loss/(profit) on disposal of fixed assets | 27,971 |  | (47,856 | ) |

6,192,104 |  | 3,042,369 |  |

| Decrease/(increase) in trade and other debtors | 499,856 |  | (3,198,440 | ) |

| Increase in trade and other creditors | 1,551 |  | 684,001 |  |

| Cash generated from operations | 6,693,511 |  | 527,930 |  |

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:

| Period ended 30 September 2024

| 30/9/24 |  | 1/4/23

£ | £ |

| Cash and cash equivalents | 1,211,046 |  | 3,461 |  |

| Bank overdrafts | - |  | (1,032,452 | ) |

1,211,046 |  | (1,028,991 | ) |

| Year ended 31 March 2023

| 31/3/23 |  | 1/4/22

| (Unaudited) |

£ | £ |

| Cash and cash equivalents | 3,461 |  | 4,034 |  |

| Bank overdrafts | (1,032,452 | ) | (380,181 | ) |

(1,028,991 | ) | (376,147 | ) |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE CASH FLOW STATEMENT

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1/4/23 | Cash flow | At 30/9/24

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 3,461 |  | 1,207,585 |  | 1,211,046 |  |

| Bank overdrafts | (1,032,452 | ) | 1,032,452 |  | - |  |

(1,028,991 | ) | 2,240,037 |  | 1,211,046 |  |

| Debt

| Finance leases | (1,200,487 | ) | (420,493 | ) | (1,620,980 | ) |

| Debts falling due within 1 year | (57,113 | ) | 1,656 |  | (55,457 | ) |

| Debts falling due after 1 year | (128,875 | ) | 104,053 |  | (24,822 | ) |

(1,386,475 | ) | (314,784 | ) | (1,701,259 | ) |

| Total | (2,415,466 | ) | 1,925,253 |  | (490,213 | ) |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

1. | STATUTORY INFORMATION

| Larkins Transport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

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

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Number plates is being amortised evenly over its estimated useful life of three years.

| Tangible fixed assets

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

| Plant and machinery | - | 25% on reducing balance

| Motor vehicles | - | 15% on reducing balance

| Computer equipment | - | 33% on cost

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

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

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

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

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| Period |

| 1/4/23 |

| to | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

£ | £ |

| Wages and salaries | 1,045,467 |  | 469,430 |  |

| Social security costs | 104,838 |  | 41,501 |  |

| Other pension costs | 18,979 |  | 9,014 |  |

1,169,284 |  | 519,945 |  |

| The average number of employees during the period was as follows:

| Period |

| 1/4/23 |

| to | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

| Production | 12 |  | 9 |  |

| Administrative | 5 |  | 4 |  |

17 |  | 13 |  |

| Period |

| 1/4/23 |

| to | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

£ | £ |

| Director's remuneration | 18,417 |  | 8,908 |  |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

4. | OPERATING PROFIT

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

| Period |

| 1/4/23 |

| to | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

£ | £ |

| Other operating leases | 256,287 |  | 114,866 |  |

| Depreciation - owned assets | 395,696 |  | 188,775 |  |

| Depreciation - assets on hire purchase contracts | 464,314 |  | 150,153 |  |

| Loss/(profit) on disposal of fixed assets | 27,971 |  | (47,856 | ) |

| Number plates amortisation | 188 |  | 817 |  |

| Auditors' remuneration | 12,000 |  | - |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period |

| 1/4/23 |

| to | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

£ | £ |

| Bank loan interest | 19,403 |  | 20,095 |  |

| Corporation tax interest | 8,171 |  | 2,906 |  |

| Hire purchase interest | 156,619 |  | 35,986 |  |

184,193 |  | 58,987 |  |

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the period was as follows:

| Period |

| 1/4/23 |

| to | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

£ | £ |

| Current tax:

| UK corporation tax | 992,061 |  | 347,372 |  |

| Under/over provision in

| respect of prior year | - |  | 44,430 |  |

| Total current tax | 992,061 |  | 391,802 |  |

| Deferred tax | 366,882 |  | 156,863 |  |

| Tax on profit | 1,358,943 |  | 548,665 |  |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

7. | DIVIDENDS

| Period |

| 1/4/23 |

| to | Year ended

| 30/9/24 |  | 31/3/23

| (Unaudited)

£ | £ |

| Ordinary shares of £1 each

| Interim | 890,000 |  | 100,000 |  |

8. | INTANGIBLE FIXED ASSETS

| Number

| plates

£ |

| COST

| At 1 April 2023 | 2,438 |  |

| Additions | 750 |  |

| At 30 September 2024 | 3,188 |  |

| AMORTISATION

| At 1 April 2023 | 2,438 |  |

| Amortisation for period | 188 |  |

| At 30 September 2024 | 2,626 |  |

| NET BOOK VALUE

| At 30 September 2024 | 562 |  |

| At 31 March 2023 | - |  |

9. | TANGIBLE FIXED ASSETS

| Fixtures

| Freehold |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 April 2023 | 341,867 |  | 3,717,237 |  | 41,141 |  |

| Additions | 275,727 |  | 3,311,420 |  | 1,166 |  |

| Disposals | - |  | (287,778 | ) | - |  |

| At 30 September 2024 | 617,594 |  | 6,740,879 |  | 42,307 |  |

| DEPRECIATION

| At 1 April 2023 | - |  | 1,191,265 |  | 32,858 |  |

| Charge for period | - |  | 844,547 |  | 6,796 |  |

| Eliminated on disposal | - |  | (49,248 | ) | - |  |

| At 30 September 2024 | - |  | 1,986,564 |  | 39,654 |  |

| NET BOOK VALUE

| At 30 September 2024 | 617,594 |  | 4,754,315 |  | 2,653 |  |

| At 31 March 2023 | 341,867 |  | 2,525,972 |  | 8,283 |  |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

9. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2023 | 57,629 |  | 13,196 |  | 4,171,070 |  |

| Additions | 64,119 |  | 3,430 |  | 3,655,862 |  |

| Disposals | - |  | - |  | (287,778 | ) |

| At 30 September 2024 | 121,748 |  | 16,626 |  | 7,539,154 |  |

| DEPRECIATION

| At 1 April 2023 | 39,286 |  | 11,896 |  | 1,275,305 |  |

| Charge for period | 7,183 |  | 1,484 |  | 860,010 |  |

| Eliminated on disposal | - |  | - |  | (49,248 | ) |

| At 30 September 2024 | 46,469 |  | 13,380 |  | 2,086,067 |  |

| NET BOOK VALUE

| At 30 September 2024 | 75,279 |  | 3,246 |  | 5,453,087 |  |

| At 31 March 2023 | 18,343 |  | 1,300 |  | 2,895,765 |  |

| The net book value of tangible fixed assets includes £ 2,093,053 (2023 - £ 1,526,837 ) in respect of assets held under hire purchase contracts.

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

2024 | 2023 |

| (Unaudited)

£ | £ |

| Trade debtors | 2,875,878 |  | 4,248,550 |  |

| Other debtors | 292,513 |  | 40,948 |  |

| Directors' current accounts | 170,594 |  | 347,575 |  |

| VAT | 117,933 |  | - |  |

| Prepayments and accrued income | 504,818 |  | 1,500 |  |

3,961,736 |  | 4,638,573 |  |

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

2024 | 2023 |

| (Unaudited)

£ | £ |

| Bank loans and overdrafts (see note 13) | 55,457 |  | 1,089,565 |  |

| Hire purchase contracts (see note 14) | 744,884 |  | 438,732 |  |

| Trade creditors | 932,284 |  | 1,041,429 |  |

| Tax | 991,966 |  | 431,601 |  |

| Social security and other taxes | 33,773 |  | 17,859 |  |

| VAT | - |  | 55,870 |  |

| Other creditors | 108,724 |  | 123,646 |  |

| Accrued expenses | 170,824 |  | 5,250 |  |

3,037,912 |  | 3,203,952 |  |

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

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

2024 | 2023 |

| (Unaudited)

£ | £ |

| Bank loans (see note 13) | 24,822 |  | 128,875 |  |

| Hire purchase contracts (see note 14) | 876,096 |  | 761,755 |  |

900,918 |  | 890,630 |  |

13. | LOANS

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

2024 | 2023 |

| (Unaudited)

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | - |  | 1,032,452 |  |

| Bank loans | 55,457 |  | 57,113 |  |

55,457 |  | 1,089,565 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 24,822 |  | 62,616 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | - |  | 66,259 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

2024 | 2023 |

| (Unaudited |

£ | £ |

| Net obligations repayable:

| Within one year | 744,884 |  | 438,732 |  |

| Between one and five years | 876,096 |  | 761,755 |  |

1,620,980 |  | 1,200,487 |  |

15. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

| (Unaudited)

£ | £ |

| Hire purchase contracts | 1,620,980 |  | 1,200,487 |  |

| Hire purchase liabilities are secured over the assets they relate to.

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

16. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

| (Unaudited)

£ | £ |

| Deferred tax | 711,386 |  | 344,504 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2023 | 344,504 |  |

| Provided during period | 366,882 |  |

| Balance at 30 September 2024 | 711,386 |  |

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

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

18. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2023 | 3,098,613 |  |

| Profit for the period | 3,767,502 |  |

| Dividends | (890,000 | ) |

| At 30 September 2024 | 5,976,115 |  |

19. | CAPITAL COMMITMENTS

| As at 30th September 2024 the company had contracted to purchase plant and machinery for £312,000 (2023 £NIL).

20. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the period ended 30 September 2024 and the year ended 31 March 2023:

2024 | 2023 |

| (Unaudited)

£ | £ |

| S M Larkins

| Balance outstanding at start of period | 347,575 |  | 237,299 |  |

| Amounts advanced | 767,510 |  | 210,276 |  |

| Amounts repaid | (944,491 | ) | (100,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of period | 170,594 |  | 347,575 |  |

| Interest has been charged at the rate of 2.25% (2023 - 2.00%).

LARKINS TRANSPORT LIMITED (REGISTERED NUMBER: 08455514) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

21. | RELATED PARTY DISCLOSURES

| Larkins Environmental Services Limited is wholly owed by Scott Larkins.

| Purchases of goods and services of £30,000 were made from Larkins Environmental Services Limited. At 30th September 2024 £0 (2023 £0) was due to Larkins Environmental Services Limited.

| At 30th September a loan was due to Larkins Transport Limited from Larkins Environmental Services Limited of £248,908 (2023 £19,961).

| Blue Circle Contractors Limited is wholly owed by Scott Larkins.

| Purchases of goods and services of £356,640 were made from Blue Circle Contractors Limited. At 30th September 2024 £110,896 (2023 £0) was due to Blue Circle Contractors Limited.