Company registration number 12395414 (England and Wales)
ACUMEN VEHICLE LOGISTICS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
ACUMEN VEHICLE LOGISTICS LIMITED
COMPANY INFORMATION
Directors
C C C Doughty
(Appointed 31 May 2024)
J Doughty
(Appointed 31 May 2024)
N Ashraf
(Appointed 31 May 2024)
S Brown
(Appointed 31 May 2024)
N Walker
(Appointed 31 May 2024)
Company number
12395414
Registered office
Acumen House
Park Circle
Tithe Barn Way
Swan Valley
Northampton
NN4 9BH
Auditor
DJH Audit Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
ACUMEN VEHICLE LOGISTICS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Statement of income and retained earnings
9
Balance sheet
10
Notes to the financial statements
11 - 24
ACUMEN VEHICLE LOGISTICS LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 MARCH 2025
- 1 -

The directors present the strategic report for the Period ended 31 March 2025.

Principal activities

The principal activity of the company continued to be that of freight transport by road.

Review of the business

The directors are pleased to report a strong financial performance for the year, reflecting our continued commitment to being the highest-quality service provider in the finished vehicle logistics sector.

In May 2024, the company was acquired by Acumen Logistics Group Holdings Limited. We have worked to ensure minimal disruption to the business during this transition and have remained focused on delivering exceptional customer service, prioritising flexibility and responsiveness to support our clients through a challenging period marked by supply chain disruption, economic uncertainty, and high inflation.

The trading results for the year are set out on page 9 of the financial statements, with the balance sheet presented on page 10.

Customer trust, strong relationships, and sustained demand have enabled the company to maintain revenue at a consistent level with the prior year. The company achieved an operating profit of £940k, representing a modest improvement on a like-for-like basis. These profits have been retained to further strengthen the company’s balance sheet and provide capital to support future organic growth.

While the company’s net current asset position decreased to £820k, total net assets increased to £1.6 million. During the year, we began investing in our own fleet of vehicles, with £5.2 million in additions. This strategic investment positions us well for future growth and increased operational efficiency.

Principal risks and uncertainties

Management continually monitor the key risks facing the Group, together with assessing the controls used for managing these risks. The board of directors formally reviews and documents the principal risks facing the business at least annually.

Legislative

The group has systems and procedures in place to ensure compliance with, and to manage, the impact of changes in Government legislation such as the Working Time Directive, TUPE, fuel duty, vehicle operating procedures, environmental and vehicle emission requirements.

Financial and Liquidity

The group's forecasts and projections show that the group will be able to operate within its current facilities for a period of at least the next 12 months.

Competitor pressure

The market in which the group operates is considered to be extremely competitive, and therefore competitor pressure could result in losing sales to key competitors. The company manages this risk by providing quality services and maintaining strong relationships with its key customers.

Future Developments

The directors aim to continue in the group’s traditional markets of inbound and outbound automotive logistics but are also well placed to take advantage of new opportunities available. They believe there will be further good opportunities to further develop profitably, with a modern reliable fleet and a stable retained workforce.

ACUMEN VEHICLE LOGISTICS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 2 -

On behalf of the board

C C C Doughty
Director
26 November 2025
ACUMEN VEHICLE LOGISTICS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 MARCH 2025
- 3 -

The directors present their annual report and financial statements for the Period ended 31 March 2025.

Results and dividends

The results for the period are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

C C C Doughty
(Appointed 31 May 2024)
J Doughty
(Appointed 31 May 2024)
N Ashraf
(Appointed 31 May 2024)
S Brown
(Appointed 31 May 2024)
N Walker
(Appointed 31 May 2024)
K Mills
(Resigned 31 May 2024)
R Mills
(Resigned 31 May 2024)
Financial instruments

The company is exposed to the following risks from its financial instruments:

- Liquidity risk

- Credit risk

- Interest rate risk

The directors have overall responsibility for the establishment and oversight of the Company's risk management framework.

The exposure to the above risks are monitored by the Board of Directors as part of its daily management of the Company's activities.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the company uses a mixture of long-term and short-term debt finance.

Interest rate risk

The company is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on deposits. The company uses a mixture of both fixed and variable rate finance in respect of its hire purchase agreements so as to reduce its exposure to changes in interest rates.

Credit risk

The company's principal financial assets are bank balances and cash, trade and other receivables.

The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds is limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies.

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.

ACUMEN VEHICLE LOGISTICS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -
On behalf of the board
C C C Doughty
Director
26 November 2025
ACUMEN VEHICLE LOGISTICS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 MARCH 2025
- 5 -

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.

ACUMEN VEHICLE LOGISTICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ACUMEN VEHICLE LOGISTICS LIMITED
- 6 -
Opinion

We have audited the financial statements of Acumen Vehicle Logistics Limited (the 'company') for the Period ended 31 March 2025 which comprise the statement of income and retained earnings, the balance sheet 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 31 March 2025 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 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 Period 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.

ACUMEN VEHICLE LOGISTICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ACUMEN VEHICLE LOGISTICS LIMITED (CONTINUED)
- 7 -
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:

- 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 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.

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.

We are not responsible for preventing irregularities. Our approach to detecting irregularities included, but was not limited to, the following:

• obtaining an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework;

• obtaining an understanding of the entity's policies and procedures and how the entity has complied with these, through discussions and walkthrough testing;

• obtaining an understanding of the entity's risk assessment process, including the risk of fraud;

• enquiring of management as to actual and potential fraud, litigation and claims;

• designing our audit procedures to respond to our risk assessment;

• performing audit testing over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business;

• assessing whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

• performing analytical procedures to identify any large, unusual or unexpected relationships.

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

ACUMEN VEHICLE LOGISTICS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ACUMEN VEHICLE LOGISTICS LIMITED (CONTINUED)
- 8 -

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.

Gavin Booth (Senior Statutory Auditor)
For and on behalf of DJH Audit Limited
Statutory Auditor
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
26 November 2025
ACUMEN VEHICLE LOGISTICS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE PERIOD ENDED 31 MARCH 2025
- 9 -
Period
Year
ended
ended
31 March
30 April
2025
2024
as restated
Notes
£
£
Turnover
3
16,551,718
17,850,905
Cost of sales
(15,116,956)
(16,317,003)
Gross profit
1,434,762
1,533,902
Administrative expenses
(494,019)
(551,626)
Operating profit
5
940,743
982,276
Exceptional item
4
-
0
(224,413)
Interest receivable and similar income
8
3,699
-
0
Interest payable and similar expenses
9
(145,819)
(204,984)
Profit before taxation
798,623
552,879
Tax on profit
10
(120,608)
67,777
Profit for the financial Period
678,015
620,656
Retained earnings brought forward
988,852
368,196
Retained earnings carried forward
1,666,867
988,852
ACUMEN VEHICLE LOGISTICS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 10 -
31 March 2025
30 April 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
4,108,480
74,183
Current assets
Debtors
12
2,499,289
2,311,241
Cash at bank and in hand
1,581,254
1,154,977
4,080,543
3,466,218
Creditors: amounts falling due within one year
13
(3,260,061)
(2,308,490)
Net current assets
820,482
1,157,728
Total assets less current liabilities
4,928,962
1,231,911
Creditors: amounts falling due after more than one year
14
(2,906,790)
-
0
Provisions for liabilities
Provisions
17
231,488
224,413
Deferred tax liability
18
123,717
18,546
(355,205)
(242,959)
Net assets
1,666,967
988,952
Capital and reserves
Called up share capital
20
100
100
Profit and loss reserves
1,666,867
988,852
Total equity
1,666,967
988,952
The financial statements were approved by the board of directors and authorised for issue on 26 November 2025 and are signed on its behalf by:
C C C Doughty
Director
Company registration number 12395414 (England and Wales)
ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 11 -
1
Accounting policies
Company information

Acumen Vehicle Logistics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acumen House, Park Circle, Tithe Barn Way, Swan Valley, Northampton, NN4 9BH.

1.1
Reporting period

These financial statements have been prepared for a 11 month period so that they are in line with the other companies in the group. This has resulted in the comparatives not being entirely comparable.

1.2
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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Acumen Logistics Group Holdings Limited. These consolidated financial statements are available upon request from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

1.3
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.

1.4
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, 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.

Sales are recognised in the accounting period in which the service is rendered, by reference to completion of the specific transaction and from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 12 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, 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:

Plant and machinery
2-10 years on cost
Fixtures and fittings
25% Straight line

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.

1.6
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.

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.

1.7
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.

ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 13 -
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.

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.

ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 14 -
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.

1.8
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.

1.9
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.

ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
1.10
Provisions

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

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

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.

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.

ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 16 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Recoverability of receivables

The company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the ageing of receivables, past experience of recoverability, and the credit profile of individual or groups of customers.

Determining residual values and useful economic life of tangible fixed assets

The company depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programs.

Judgment is applied by management when determining the residual values for tangible fixed assets. When determining the residual value management aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at.

Provision of payments to HMRC

The company have calculated and recognised a provision regarding a voluntary payment to be made to HMRC, in regards to incorrectly claimed expenses in previous periods. This has been determined using a number of assumptions as to the potential amount owed and any potential interest charges which may be incurred as a result.

3
Turnover
2025
2024
£
£
Turnover analysed by class of business
Transportation services
16,551,718
17,850,905
ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 17 -
4
Exceptional item
2025
2024
£
£
Expenditure
Historic HMRC liabilities
-
224,413

The Company made a voluntary disclosure to HMRC regarding employer duties in relation to allowances paid to employees. The directors have sought appropriate professional advice regarding the Company's obligations and have calculated the liability accordingly. There is the potential for HMRC to disagree with the assessment or seek further amounts however all relevant information has been considered in the provision recognised which is deemed to be payable by the Company as a result of past events which occurred before the balance sheet date. It is deemed accurate and complete and inclusive of all potential interest and penalty charges.

5
Operating profit
2025
2024
Operating profit for the period is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
359,968
39,398
(Profit)/loss on disposal of tangible fixed assets
(116,792)
68,936
Lease expense - property, plant and machinery
2,475,900
3,527,070
6
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
10,500
9,550
ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 18 -
7
Employees

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

2025
2024
Number
Number
Administration and support
10
9
Distribution
49
52
Other departments
-
1
Total
59
62

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,941,390
3,165,185
Social security costs
324,139
363,630
Pension costs
55,404
62,469
3,320,933
3,591,284
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
3,699
-
0
9
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
6,513
-
Other interest
18,187
48,915
Interest on finance leases and hire purchase contracts
121,119
156,069
145,819
204,984
ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 19 -
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
15,114
225,485
Deferred tax
Origination and reversal of timing differences
105,494
(293,262)
Total tax charge/(credit)
120,608
(67,777)

The actual charge/(credit) for the Period can be reconciled to the expected charge for the Period based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
798,623
552,879
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
199,656
138,220
Tax effect of expenses that are not deductible in determining taxable profit
1,483
8,982
Group relief
(84,870)
-
0
Deferred tax arising from origination and reversal of timing differences
105,494
-
0
Tax (decrease)/increase from effect of capital allowances and depreciation
(101,155)
(214,979)
Taxation charge/(credit) for the period
120,608
(67,777)
ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 20 -
11
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 May 2024
11,500
62,683
74,183
Additions
5,197,474
-
0
5,197,474
Disposals
(819,273)
-
0
(819,273)
At 31 March 2025
4,389,701
62,683
4,452,384
Depreciation and impairment
At 1 May 2024
-
0
-
0
-
0
Depreciation charged in the Period
347,863
12,105
359,968
Eliminated in respect of disposals
(16,064)
-
0
(16,064)
At 31 March 2025
331,799
12,105
343,904
Carrying amount
At 31 March 2025
4,057,902
50,578
4,108,480
At 30 April 2024
11,500
62,683
74,183

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2025
2024
£
£
Plant and machinery
4,005,191
-
0
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,169,221
2,024,018
Amounts owed by group undertakings
54,091
-
0
Other debtors
45,200
38,600
Prepayments and accrued income
230,777
248,623
2,499,289
2,311,241
ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 21 -
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Loans and borrowings
15
1,007,602
-
Trade creditors
923,075
631,088
Amounts owed to group undertakings
572,407
261,451
Corporation tax
26,554
248,372
Other taxation and social security
357,115
314,872
Other creditors
75,336
184,699
Accruals and deferred income
297,972
668,008
3,260,061
2,308,490
14
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Loans and borrowings
15
2,906,790
-
15
Loans and borrowings
2025
2024
£
£
Hire purchase and finance lease liabilities
3,914,392
-
Payable within one year
1,007,602
-
Payable after one year
2,906,790
-

Hire purchase and finance lease liabilities are secured against the related asset. The liability at the balance sheet date is £3,914,392 (202 4 - NIL).

16
Hire purchase and finance lease obligations
2025
2024
Future minimum lease payments due under hire purchase and finance leases:
£
£
Within one year
1,219,803
-
0
In two to five years
3,517,706
-
0
4,737,509
-
0
Less: future finance charges
(823,117)
-
0
3,914,392
-
0
ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 22 -
17
Provisions for liabilities
2025
2024
£
£
Historic HMRC liabilities
231,488
224,413
Movements on provisions:
Historic HMRC liabilities
£
At 1 May 2024
224,413
Additional provisions in the year
7,075
At 31 March 2025
231,488

The Company made a voluntary disclosure to HMRC regarding employer duties in relation to allowances paid to employees. The directors have sought appropriate professional advice regarding the Company's obligations and have calculated the liability accordingly. There is the potential for HMRC to disagree with the assessment or seek further amounts however all relevant information has been considered in the provision recognised which is deemed to be payable by the Company as a result of past events which occurred before the balance sheet date. It is deemed accurate and complete and inclusive of all potential interest and penalty charges.

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
123,717
18,546
2025
Movements in the Period:
£
Liability at 1 May 2024
18,546
Charge to profit or loss
105,171
Liability at 31 March 2025
123,717

The amount of the net reversal of deferred tax assets and deferred tax liabilities expected to occur during the year beginning after the reporting period is £95,060.

ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 23 -
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
55,404
62,469

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 shares of £1 each
100
100
100
100
21
Financial commitments, guarantees and contingent liabilities

The company has entered into a cross guarantee arrangement with its bankers to secure the liabilities of related companies. The contingent liability as at 31 March 202 5 is £nil (2024 - £nil). The future outcome is dependent on the performance of the individual companies concerned. However the directors do not expect any liability to crysta l ise.

22
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
368,500
-
0
Between two and five years
247,000
-
0
615,500
-
0
23
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
3,822,571
-

As part of the acquisition of this company, the shareholders agreed to enter a capital commitment to purchase a number of fixed assets over a set period of time. The above is the value of acquisitions still to be made in regards to this commitment.

ACUMEN VEHICLE LOGISTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 24 -
24
Related party transactions
Transactions with related parties

The company is a wholly-owned member of Acumen Logistics Group Limited and as such has taken advantage of the exemption permitted by Section 33 Related Party Disclosures, not to provide disclosures of transactions entered into with other wholly-owned members of the group (including those who became wholly-owned in the period).

Summary of transactions with companies with common former directors and shareholders

During the period, the company incurred the following transactions with companies associated with former directors and shareholders. The company made sales totalling £nil (2024: £1,380,149), purchases totalling £10,023 (2024: £6,188,807). The company also owed balances totalling £nil (2024: £2,499,138).

The current year amounts reflect only transactions up to the point in change in ownership. From this point on, there is no longer a related party relation.

25
Ultimate controlling party

The parent of the largest and smallest group in which these financial statements are consolidated is Acumen Logistics Group Holdings Limited, incorporated in England.

The address of Acumen Logistics Group Holdings Limited is:

Acumen House Park Circle, Tithe Barn Way, Swan Valley, Northampton, United Kingdom, NN4 9BH.

These financial statements are available upon request from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

The ultimate controlling party is C C C Doughty.

26
Reclassification of comparative information

During the year, the company changed the classification of certain operating expenses between Cost of Sales and Administrative Expenses in order to align with the group accounting policy of the new parent company, following its acquisition during the year.

The change has no impact on the previously reported profit, net assets, or equity.

Reconciliation of changes in equity
The prior period reclassifications do not give rise to any effect upon equity.
Reconciliation of changes in profit for the previous financial period
2024
£
Adjustments to prior period
Cost of sales
1,224,428
Administrative expenses
(1,224,428)
Total adjustments
-
Profit as previously reported
620,656
Profit as adjusted
620,656
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