Freight Transport (Holdings) Ltd Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 12239114

Freight Transport (Holdings) Ltd

Financial Statements

30 April 2025

Freight Transport (Holdings) Ltd

Financial Statements

Year ended 30 April 2025

Contents	Page

Strategic report	1

Directors' report	3

Independent auditor's report to the members	5

Consolidated statement of income and retained earnings	9

Company statement of income and retained earnings	10

Consolidated statement of financial position	11

Company statement of financial position	12

Consolidated statement of cash flows	13

Notes to the financial statements	14

Freight Transport (Holdings) Ltd

Strategic Report

Year ended 30 April 2025

Overview and strategy Freight Transport Limited is a forwarding agent and haulage company based in Portsmouth, within easy reach of the Continental Ferry port. The company have their own distribution warehouse where the company's operations are controlled, and use its own fleet of lorries which are renewed on a regular basis through continued investment. Summary of key performance indicators 2025 2024 £'000 £'000 Turnover 12,901 12,973 Gross Profit 4,545 4,550 Net Profit after taxation 640 1,086 The gross profit margin has slightly increased from 35.08% to 35.23%, however, the gross profit has slightly decreased by 5k. Future developments The director's plan for improving the fleet is on-going with the intention to keep the age of the entire fleet under 5 years old. Also all new vehicles have full repair and maintenance contracts taken on them to make them a 'fixed cost' and also to enhance the residual value to help achieve the outright purchase in the next renewal cycle.

Risks and uncertainties The company uses financial instruments, other than derivatives, comprising borrowings, cash and other liquid resources and various other items such as trade debtors and creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations. The main risks arising from the company's financial instruments are interest rate risk, foreign exchange risk and liquidity risk. The director reviews and agrees policies for managing each of these risks and they are summarised below: Interest rate risk The company finances its operations through a mixture of retained profits and asset finance. The company's HP finance is structured with fixed monthly payments preventing any fluctuation from varying interest rates. Foreign exchange risk The company is able to absorb any foreign exchange losses arising from fluctuations in exchange rates and therefore does not require any hedging instruments. Liquidity risk The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest any cash assets safely and profitably. Overall the director is of the opinion that the risks that are applicable to the business are managed in such a way that they do not have a significant impact on the business. Global activities The directors have considered the impact of the events happening on a global scale with particular reference to how this may disrupt their business model, strategy and operations. The directors have liaised with suppliers and customers, and similarly they have no dealings that will impact the company's supply chain, recoverability of debt and credit. There has been a worldwide impact on the cost of particular goods, including fuel, which in turn has increased the costs of the business. The directors have calculated the effect and believe that this will not significantly impact its ability to trade or going concern.

This report was approved by the board of directors on 18 September 2025 and signed on behalf of the board by:

M L Battye

Director

Registered office:

New Bridge House

New Bridge

Dover

Kent

United Kingdom

CT16 1JS

Freight Transport (Holdings) Ltd

Directors' Report

Year ended 30 April 2025

The directors present their report and the financial statements of the group for the year ended 30 April 2025 .

Directors

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

M L Battye
A M Battye
G G Battye
N Battye	(Appointed 30 April 2025)

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

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

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

This report was approved by the board of directors on 18 September 2025 and signed on behalf of the board by:

M L Battye

Director

Registered office:

New Bridge House

New Bridge

Dover

Kent

United Kingdom

CT16 1JS

Freight Transport (Holdings) Ltd

Independent Auditor's Report to the Members of Freight Transport (Holdings) Ltd

Year ended 30 April 2025

Opinion

We have audited the financial statements of Freight Transport (Holdings) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2025 which comprise the consolidated statement of income and retained earnings, company statement of income and retained earnings, consolidated statement of financial position, company statement of financial position, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group's and of the parent company's affairs as at 30 April 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 group 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 group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company 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' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and the parent 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 group or the parent 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 identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered; the nature of the industry, control environment and business performance. We also consider the results of our enquiries of management relating to their own identification and assessment of the risks of irregularities and possible related fraud which includes reviewing available documentation on their policies and procedures. Throughout the audit testing we are considering the incentives that may exist within the organisation for fraud. Key areas include timing of recognising income around the year end and posting of unusual journals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We ensure we have an understanding of the relevant laws and regulations and remain alert to possible non-compliance throughout the audit. Despite proper planning and audit work in accordance with auditing standards there are inherent limitations and unavoidable risk that we may not detect some irregularities and material misstatements in the financial statements. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an 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.

Steve Sutton

(Senior Statutory Auditor)

For and on behalf of

Burgess Hodgson Audit Limited

Chartered accountants & statutory auditor

Camburgh House

27 New Dover Road

Canterbury

Kent

CT1 3DN

18 September 2025

Freight Transport (Holdings) Ltd

Consolidated Statement of Income and Retained Earnings

Year ended 30 April 2025

		2025	2024
Note		£	£
Turnover	4	12,901,752	12,973,456

Cost of sales	8,356,345	8,422,933
	-------------	-------------
Gross profit	4,545,407	4,550,523

Administrative expenses		3,707,996	3,084,121
		------------	------------
Operating profit	5	837,411	1,466,402

Other interest receivable and similar income	9	27,659	38,457
Interest payable and similar expenses	10	39,997	29,291
		------------	------------
Profit before taxation		825,073	1,475,568

Tax on profit	11	185,793	389,400
		---------	------------
Profit for the financial year and total comprehensive income		639,280	1,086,168
		---------	------------

Dividends paid and payable	12	( 1,040,000)	( 555,556)

Retained earnings at the start of the year	5,167,814	4,637,202
	------------	------------
Retained earnings at the end of the year	4,767,094	5,167,814
	------------	------------

All the activities of the group are from continuing operations.

Freight Transport (Holdings) Ltd

Company Statement of Income and Retained Earnings

Year ended 30 April 2025

		2025	2024
Note		£	£
Profit for the financial year and total comprehensive income		1,027,186	1,053,300
Dividends paid and payable	12	( 1,040,000)	( 555,556)

Retained earnings at the start of the year	3,481,000	2,983,256
	------------	------------
Retained earnings at the end of the year	3,468,186	3,481,000
	------------	------------

Freight Transport (Holdings) Ltd

Consolidated Statement of Financial Position

30 April 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	13	2,822,802	2,857,509

Current assets

Debtors	15	2,766,032	2,570,408
Cash at bank and in hand		3,052,910	2,604,714
		------------	------------
		5,818,942	5,175,122

Creditors: amounts falling due within one year	16	3,119,684	1,996,322
		------------	------------
Net current assets		2,699,258	3,178,800
		------------	------------
Total assets less current liabilities		5,522,060	6,036,309

Creditors: amounts falling due after more than one year	17	69,446	181,384

Provisions	19	685,300	686,891
		------------	------------
Net assets		4,767,314	5,168,034
		------------	------------

Capital and reserves

Called up share capital	22	100	100
Capital redemption reserve	23	120	120
Profit and loss account	23	4,767,094	5,167,814
		------------	------------
Shareholders funds		4,767,314	5,168,034
		------------	------------

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

M L Battye

Director

Company registration number: 12239114

Freight Transport (Holdings) Ltd

Company Statement of Financial Position

30 April 2025

	2025	2024
Note	£	£

Fixed assets

Investments	14	50	50

Current assets

Debtors	15	2,796,256	2,271,866
Cash at bank and in hand		1,683,987	1,547,669
		------------	------------
		4,480,243	3,819,535

Creditors: amounts falling due within one year	16	1,012,007	338,485
		------------	------------
Net current assets		3,468,236	3,481,050
		------------	------------
Total assets less current liabilities		3,468,286	3,481,100
		------------	------------

Capital and reserves

Called up share capital	22	100	100
Profit and loss account	23	3,468,186	3,481,000
		------------	------------
Shareholders funds		3,468,286	3,481,100
		------------	------------

The profit for the financial year of the parent company was £ 1,027,186 (2024: £ 1,053,300 ).

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

M L Battye

Director

Company registration number: 12239114

Freight Transport (Holdings) Ltd

Consolidated Statement of Cash Flows

Year ended 30 April 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	639,280	1,086,168

Adjustments for:
Depreciation of tangible assets	1,114,255	1,124,021
Other interest receivable and similar income	( 27,659)	( 38,457)
Interest payable and similar expenses	39,997	29,291
Gains on disposal of tangible assets	( 39,671)	( 51,224)
Tax on profit	185,793	389,400
Accrued expenses/(income)	222,624	( 46,610)

Changes in:
Trade and other debtors	( 165,458)	89,332
Trade and other creditors	294,792	( 1,101,171)
	------------	------------
Cash generated from operations	2,263,953	1,480,750

Interest paid	( 39,997)	( 29,291)
Interest received	27,659	38,457
Tax paid	( 237,984)	–
	------------	------------
Net cash from operating activities	2,013,631	1,489,916
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 1,139,471)	( 1,570,150)
Proceeds from sale of tangible assets	99,594	205,748
	------------	------------
Net cash used in investing activities	( 1,039,877)	( 1,364,402)
	------------	------------

Cash flows from financing activities

Proceeds from borrowings	673,522	( 606,583)
Payments of finance lease liabilities	( 159,080)	( 215,870)
Dividends paid	( 1,040,000)	( 555,556)
	------------	------------
Net cash used in financing activities	( 525,558)	( 1,378,009)
	------------	------------

Net increase/(decrease) in cash and cash equivalents	448,196	( 1,252,495)
Cash and cash equivalents at beginning of year	2,604,714	3,857,209
	------------	------------
Cash and cash equivalents at end of year	3,052,910	2,604,714
	------------	------------

Freight Transport (Holdings) Ltd

Notes to the Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Bridge House, New Bridge, Dover, Kent, CT16 1JS, United Kingdom.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

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

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

Going concern

The Directors have undertaken specific analysis into the potential business impact of various factors, including the conflict in Ukraine, on costs and revenue and how these might also be managed and mitigated. The Directors are satisfied hat the review showed no material risks to the business and conclude the financial statements should continue to be prepared on a going concern.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of Freight Transport (Holdings) Ltd and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The key assumptions and other sources of estimation uncertainty that have a significant risk are as follows: (i) Useful economic life of fixed assets The annual depreciation charges are based upon management's assessment of the useful economic life and residual values of the company's tangible assets. These are re-assessed annually and amended where necessary. (ii) Purchase recognition Directors recognise the costs in the accounts based on the dates of delivery of services, when the risk and reward has transferred to them as the purchaser. They therefore reward the costs associated with deliveries not yet invoiced as accruals at the year end. (iii) Deferred/accrued income Directors are able to reconcile invoices to delivery dates to identify the period income should be recognised. As a result, income is accrued and deferred accordingly.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

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

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

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

Leasehold	-	4% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	15% reducing balance or 12.5% straight line
Motor vehicles	-	33% reducing balance
Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

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

Provisions

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

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	12,901,752	12,973,456
	-------------	-------------

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

5. Operating loss

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Gains on disposal of tangible assets	( 39,671)	( 51,224)
Impairment of trade debtors	8,147	(5,456)
Foreign exchange differences	( 1,841)	( 1,253)
	--------	--------

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	6,575	6,500
	-------	-------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	8,925	7,839
	-------	-------

During the year, the company's auditor changed from Burgess Hodgson LLP to Burgess Hodgson Audit Limited following a change in legal structure of the audit firm. The responsible individual remains the same.

7. Staff costs

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

	2025	2024
	No.	No.
Production staff	63	60
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,652,815	2,169,848
Social security costs	249,639	170,480
Other pension costs	46,433	42,664
	------------	------------
	2,948,887	2,382,992
	------------	------------

8. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	751,693	151,989
	---------	---------

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

	2025	2024
	£	£
Aggregate remuneration	256,641	112,544
	---------	---------

9. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	27,659	38,457
	--------	--------

10. Interest payable and similar expenses

	2025	2024
	£	£
Interest on obligations under finance leases and hire purchase contracts	6,761	2,618
Other interest payable and similar charges	33,236	26,673
	--------	--------
	39,997	29,291
	--------	--------

11. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax income	187,384	237,955

Deferred tax:

Origination and reversal of timing differences	( 1,591)	151,445
	---------	---------
Tax on profit	185,793	389,400
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	825,073	1,475,568
	---------	------------
Profit on ordinary activities by rate of tax	206,268	369,456
Effect of expenses not deductible for tax purposes	( 987)	1,021
Effect of capital allowances and depreciation	( 17,897)	( 131,958)
Deferred taxation	( 1,591)	151,445
Group loss relief	–	(564)
	---------	------------
Tax on profit	185,793	389,400
	---------	------------

12. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	1,040,000	555,556
	------------	---------

13. Tangible assets

Group	Leasehold	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 May 2024	3,600	34,611	147,809	5,422,308	213,409	5,821,737
Additions	–	–	210	1,127,300	11,961	1,139,471
Disposals	–	–	–	( 619,810)	( 1,093)	( 620,903)
	-------	--------	---------	------------	---------	------------
At 30 Apr 2025	3,600	34,611	148,019	5,929,798	224,277	6,340,305
	-------	--------	---------	------------	---------	------------
Depreciation
At 1 May 2024	3,600	11,005	59,335	2,689,344	200,944	2,964,228
Charge for the year	–	3,540	13,279	1,086,955	10,481	1,114,255
Disposals	–	–	–	( 560,373)	( 607)	( 560,980)
	-------	--------	---------	------------	---------	------------
At 30 Apr 2025	3,600	14,545	72,614	3,215,926	210,818	3,517,503
	-------	--------	---------	------------	---------	------------
Carrying amount
At 30 Apr 2025	–	20,066	75,405	2,713,872	13,459	2,822,802
	-------	--------	---------	------------	---------	------------
At 30 Apr 2024	–	23,606	88,474	2,732,964	12,465	2,857,509
	-------	--------	---------	------------	---------	------------

The company has no tangible assets.

Hire purchase agreements Included within the group's net book value of £2,713,872 is £605,112 (2024: £357,719) relating to assets held under hire purchase agreements. The depreciation charged to the accounts in the year in respect of such assets amounted to £187,956 (2024: £321,810).

14. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 May 2024 and 30 April 2025	50
	----
Impairment
At 1 May 2024 and 30 April 2025	–
	----

Carrying amount
At 1 May 2024 and 30 April 2025	50
	----
At 30 April 2024	50
	----

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
Freight Transport Limited, New Bridge House, New Bridge, Dover, Kent, CT16 1JS	Ordinary	100

15. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	2,425,227	2,236,068	–	–
Amounts owed by group undertakings	–	–	2,796,256	2,271,866
Prepayments and accrued income	112,663	133,432	–	–
Other debtors	228,142	200,908	–	–
	------------	------------	------------	------------
	2,766,032	2,570,408	2,796,256	2,271,866
	------------	------------	------------	------------

16. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	1,125,340	976,064	–	–
Accruals and deferred income	595,736	251,081	–	–
Corporation tax	187,355	237,955	–	–
Social security and other taxes	62,688	–	–	–
Obligations under finance leases and hire purchase contracts	111,938	159,080	–	–
Director loan accounts	1,012,007	338,485	1,012,007	338,485
Other creditors	24,620	33,657	–	–
	------------	------------	------------	---------
	3,119,684	1,996,322	1,012,007	338,485
	------------	------------	------------	---------

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

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Obligations under finance leases and hire purchase contracts	69,446	181,384	–	–
	--------	---------	----	----

18. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	69,446	159,080	–	–
Later than 1 year and not later than 5 years	111,938	181,384	–	–
	---------	---------	----	----
	181,384	340,464	–	–
	---------	---------	----	----

19. Provisions

Group	Deferred tax (note 20)
	£
At 1 May 2024	686,891
Charge against provision	( 1,591)
	---------
At 30 April 2025	685,300
	---------

The company does not have any provisions.

20. Deferred tax

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

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 19)	685,300	686,891	–	–
	---------	---------	----	----

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

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	685,300	686,891	–	–
	---------	---------	----	----

21. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 46,433 (2024: £ 42,664 ).

22. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 0.05 each	1,200	60	1,200	60
A Ordinary shares of £ 0.05 each	800	40	800	40
	-------	----	-------	----
	2,000	100	2,000	100
	-------	----	-------	----

23. Reserves

Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

24. Analysis of changes in net debt

	At 1 May 2024	Cash flows	At 30 Apr 2025
	£	£	£
Cash at bank and in hand	2,604,714	448,196	3,052,910
Debt due within one year	(497,565)	(626,380)	(1,123,945)
Debt due after one year	(181,384)	111,938	(69,446)
	------------	---------	------------
	1,925,765	( 66,246)	1,859,519
	------------	---------	------------

25. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	258,144	263,498	–	–
Later than 1 year and not later than 5 years	193,608	451,752	–	–
	---------	---------	----	----
	451,752	715,250	–	–
	---------	---------	----	----

26. Related party transactions

Group

At the balance sheet date the group owed the directors £1,012,007 (2024: £338,485).

Company

At the balance sheet date the company owed the directors £1,012,007 (2024: £338,485). At the balance sheet date the company was owed £2,796,256 (2024: £2,271,866) by a group company.