Company registration number 06296609 (England and Wales)
LAW TRUCK CENTRE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
LAW TRUCK CENTRE LIMITED
COMPANY INFORMATION
Directors
Mr E Cochrane
Mr A Cochrane
Mr L Cochrane
Company number
06296609
Registered office
97 Alderley Road
Wilmslow
Cheshire
United Kingdom
SK9 1PT
Auditor
Afford Bond Holdings Limited
Enterprise House
97 Alderley Road
Wilmslow
Cheshire
SK9 1PT
LAW TRUCK CENTRE LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 24
LAW TRUCK CENTRE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

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

Review of the business

The results for the year and the financial position at the year-end are shown in the annexed financial statements.

The company’s main trade is the sale of commercial trucks. The directors consider that the key performance indicators are those that communicate the financial performance and strength of the company as a whole, being turnover, gross profit & shareholder funds. The directors also consider that the wellbeing and development of the company’s employees, together with the development of mutually beneficial partnerships with customers and suppliers to be key to the success of the business.

During 2024/202 5 trading performance Improved due to better vehicles being sourced as growth in turnover increased from £22.1M to £2 3.2 M a increase of 5% with a contraction of trade in our overseas markets.

The operating performance in 2024/202 5 saw a n improvement in operating profits from £3.6 M to £3.7 M.

The results for the period and the financial position at the period end, after taking into account the impact of infrastructure issues following our rapid growth, were considered to be excellent by the directors who anticipate continued growth in profitable trading in 2025/202 6 and beyond.

Principal risks and uncertainties

The Board acknowledges the risks from competitors, the reliance on key suppliers and customers and the funding requirement to maintain its operational efficiency . The Board seeks to minimise these risks wherever possible and they are regularly reviewed through management reporting and planning processes.

At the time of approving the financial statements the full impact of the UK and Global economy is uncertain and the effect, both immediate and long term, this may have on the company, its customers and suppliers is unknown.

Key performance indicators

The Directors do not consider there are any further relevant financial and non-financial key performance indicators requiring disclosure, other than those disclosed above.

On behalf of the board

Mr A Cochrane
Director
29 October 2025
LAW TRUCK CENTRE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

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

Principal activities

The principal activity of the company continued to be that of the sale of commercial motor vehicles.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £2,559,545. The directors do not recommend payment of a final dividend.

Directors

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

Mr E Cochrane
Mr A Cochrane
Mr L Cochrane
Auditor

Afford Bond Holdings Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

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

Medium-sized companies exemption

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

On behalf of the board
Mr A Cochrane
Director
29 October 2025
LAW TRUCK CENTRE LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LAW TRUCK CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LAW TRUCK CENTRE LIMITED
- 4 -
Opinion

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

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

LAW TRUCK CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LAW TRUCK CENTRE LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- 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;.

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

The extent to which our procedures are capable of detecting irregularities, including fraud

The auditor’s explanation of its audit response will depend on the risks identified but may include:

- Enquiry of management, those charged with governance and the entity’s solicitors (or in-house legal team) around actual and potential litigation and claims.

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing minutes of meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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

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 auditor's 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.

LAW TRUCK CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LAW TRUCK CENTRE LIMITED (CONTINUED)
- 6 -
Peter O'Malley ACA FCCA CTA (Senior Statutory Auditor)
For and on behalf of Afford Bond Holdings Limited, Statutory Auditor
Chartered Accountants
Enterprise House
97 Alderley Road
Wilmslow
Cheshire
SK9 1PT
29 October 2025
LAW TRUCK CENTRE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
23,190,457
22,055,581
Cost of sales
(16,377,809)
(15,969,346)
Gross profit
6,812,648
6,086,235
Administrative expenses
(3,074,827)
(2,485,665)
Other operating income
27,500
29,562
Operating profit
8
3,765,321
3,630,132
Interest receivable and similar income
6
5,368
4,616
Interest payable and similar expenses
7
(40,658)
(10,698)
Profit before taxation
3,730,031
3,624,050
Tax on profit
9
(961,059)
(919,973)
Profit for the financial year
2,768,972
2,704,077

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

LAW TRUCK CENTRE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
2025
2024
£
£
Profit for the year
2,768,972
2,704,077
Other comprehensive income
-
-
Total comprehensive income for the year
2,768,972
2,704,077
LAW TRUCK CENTRE LIMITED
BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
5,094,435
5,130,435
Current assets
Stocks
12
5,854,655
5,473,686
Debtors
13
282,247
479,199
Cash at bank and in hand
351,255
323,687
6,488,157
6,276,572
Creditors: amounts falling due within one year
15
(2,333,283)
(2,284,652)
Net current assets
4,154,874
3,991,920
Total assets less current liabilities
9,249,309
9,122,355
Creditors: amounts falling due after more than one year
16
(100,847)
(194,173)
Provisions for liabilities
Deferred tax liability
18
327,113
316,260
(327,113)
(316,260)
Net assets
8,821,349
8,611,922
Capital and reserves
Called up share capital
20
300
300
Capital redemption reserve
1
1
Profit and loss reserves
8,821,048
8,611,621
Total equity
8,821,349
8,611,922

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

The financial statements were approved by the board of directors and authorised for issue on 29 October 2025 and are signed on its behalf by:
Mr A Cochrane
Director
Company registration number 06296609 (England and Wales)
LAW TRUCK CENTRE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2023
300
1
7,284,662
7,284,963
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
2,704,077
2,704,077
Dividends
10
-
-
(1,377,118)
(1,377,118)
Balance at 30 June 2024
300
1
8,611,621
8,611,922
Year ended 30 June 2025:
Profit and total comprehensive income
-
-
2,768,972
2,768,972
Dividends
10
-
-
(2,559,545)
(2,559,545)
Balance at 30 June 2025
300
1
8,821,048
8,821,349
LAW TRUCK CENTRE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
4,366,815
3,406,219
Interest paid
(40,658)
(10,698)
Income taxes paid
(1,323,454)
(592,969)
Net cash inflow from operating activities
3,002,703
2,802,552
Investing activities
Purchase of tangible fixed assets
(221,915)
(2,107,611)
Proceeds from disposal of tangible fixed assets
-
0
440,000
Interest received
5,368
4,616
Net cash used in investing activities
(216,547)
(1,662,995)
Financing activities
Payment of finance leases obligations
(199,043)
214,461
Dividends paid
(2,559,545)
(1,377,118)
Net cash used in financing activities
(2,758,588)
(1,162,657)
Net increase/(decrease) in cash and cash equivalents
27,568
(23,100)
Cash and cash equivalents at beginning of year
323,687
346,787
Cash and cash equivalents at end of year
351,255
323,687
LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 12 -
1
Accounting policies
Company information

Law Truck Centre Limited is a private company limited by shares incorporated in England and Wales. The registered office is 97 Alderley Road, Wilmslow, Cheshire, United Kingdom, SK9 1PT.

1.1
Accounting convention

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

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

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

1.2
Going concern

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

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business of the sale of commercial vehicles, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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

1.4
Tangible fixed assets

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

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

Freehold land and buildings
0%-10% straight line
Plant and equipment
10-25% reducing balance
Motor vehicles
25% reducing balance

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

1.5
Impairment of fixed assets

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

LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 13 -

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

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

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

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

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

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 14 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

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

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

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

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 15 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.9
Equity instruments

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

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

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

Current tax

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

Deferred tax

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

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

LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 16 -
1.11
Employee benefits

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

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

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

1.12
Retirement benefits

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

1.13
Leases

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

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

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

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

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

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

LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 17 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Commercial vehicle sales
23,190,457
22,055,581
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
6,840,807
4,532,848
Rest of the world
16,349,650
17,522,733
23,190,457
22,055,581
2025
2024
£
£
Other revenue
Interest income
5,368
4,616
4
Employees

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

2025
2024
Number
Number
Sales and administration
38
34

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,407,639
1,183,008
Pension costs
34,079
28,007
1,441,718
1,211,015
5
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
26,352
26,352
LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 18 -
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
1,194
2,842
Other interest income
4,174
1,774
Total income
5,368
4,616
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
1,194
2,842
7
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Interest on finance leases and hire purchase contracts
36,602
10,014
Other interest
4,056
684
40,658
10,698
8
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses
1,750
29,439
Fees payable to the company's auditor for the audit of the company's financial statements
10,000
7,250
Depreciation of owned tangible fixed assets
274,660
289,653
Depreciation of tangible fixed assets held under finance leases
109,561
45,178
Profit on disposal of tangible fixed assets
-
(83,530)
Operating lease charges
-
50,365
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
950,206
927,510
Adjustments in respect of prior periods
-
0
44,066
Total current tax
950,206
971,576
LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
9
Taxation
2025
2024
£
£
(Continued)
- 19 -
Deferred tax
Origination and reversal of timing differences
10,853
(51,603)
Total tax charge
961,059
919,973

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

2025
2024
£
£
Profit before taxation
3,730,031
3,624,050
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
932,508
906,013
Tax effect of expenses that are not deductible in determining taxable profit
9,844
10,575
Permanent capital allowances in excess of depreciation
7,854
3,385
Deferred tax adjustments in respect of prior years
10,853
-
0
Taxation charge for the year
961,059
919,973
10
Dividends
2025
2024
£
£
Interim paid
2,559,545
1,377,118
LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 20 -
11
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2024
3,596,392
2,018,062
251,051
5,865,505
Additions
91,226
256,995
-
0
348,221
At 30 June 2025
3,687,618
2,275,057
251,051
6,213,726
Depreciation and impairment
At 1 July 2024
43,360
642,394
49,316
735,070
Depreciation charged in the year
37,613
294,575
52,033
384,221
At 30 June 2025
80,973
936,969
101,349
1,119,291
Carrying amount
At 30 June 2025
3,606,645
1,338,088
149,702
5,094,435
At 30 June 2024
3,553,032
1,375,668
201,735
5,130,435

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

2025
2024
£
£
Plant and equipment
218,681
342,680
Motor vehicles
115,566
-
0
334,247
342,680
12
Stocks
2025
2024
£
£
Finished Goods
5,854,655
5,473,686
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
162,975
389,952
Prepayments and accrued income
119,272
89,247
282,247
479,199
LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 21 -
14
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
137,859
140,718
Carrying amount of financial liabilities
Measured at amortised cost
2,258,400
1,903,657
15
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
17
190,687
170,098
Trade creditors
656,975
360,012
Corporation tax
175,730
548,978
Other taxation and social security
-
0
26,190
Other creditors
1,217,821
1,074,386
Accruals and deferred income
92,070
104,988
2,333,283
2,284,652
16
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
17
100,847
194,173
17
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
190,687
170,098
In two to five years
100,847
194,173
291,534
364,271

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 22 -
18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
327,113
316,260
2025
Movements in the year:
£
Liability at 1 July 2024
316,260
Charge to profit or loss
10,853
Liability at 30 June 2025
327,113

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
34,079
28,007

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

20
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
100
100
100
100
Ordinary B Shares of £1 each
100
100
100
100
Ordinary C Shares of £1 each
100
100
100
100
300
300
300
300
21
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Name of related party
Nature of relationship
Jerico Group Limited
Same directorship
LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
21
Related party transactions
(Continued)
- 23 -
Description of
Income
Payments
transaction
2025
2024
2025
2024
£
£
£
£
Jerico Group Limited
Sales & Purchases
110,182
-
0
115,044
-
0
Balances with related parties

The following amounts were outstanding at the reporting end date:

Amounts owed by
Amounts owed to
related parties
related parties
2025
2024
2025
2024
£
£
£
£
Jerico Group Limited
3,775
-
0
-
0
-
0
Other information

Jerico Group Limited occupy premises owned by the company and the directors have taken the decision not to charge any rent to Jerico Group Limited. The market rent would be in the region of £20,000 pa based on percentage of rateable value used by Jerico Group Limited.

22
Cash generated from operations
2025
2024
£
£
Profit after taxation
2,768,972
2,704,077
Adjustments for:
Taxation charged
961,059
919,973
Finance costs
40,658
10,698
Investment income
(5,368)
(4,616)
Gain on disposal of tangible fixed assets
-
(83,530)
Depreciation and impairment of tangible fixed assets
384,221
334,831
Movements in working capital:
Increase in stocks
(380,969)
(432,230)
Decrease/(increase) in debtors
196,952
(230,310)
Increase in creditors
401,290
187,326
Cash generated from operations
4,366,815
3,406,219
LAW TRUCK CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 24 -
23
Analysis of changes in net funds/(debt)
1 July 2024
Cash flows
New leases
30 June 2025
£
£
£
£
Cash at bank and in hand
323,687
27,568
-
351,255
Lease liabilities
(364,271)
199,043
(126,306)
(291,534)
(40,584)
226,611
(126,306)
59,721
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