REGISTERED NUMBER: 08449135 (England and Wales)

MILLERS OF LONGTON HOLDINGS LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Income Statement

6

Consolidated Balance Sheet

7

Company Balance Sheet

8

Consolidated Statement of Changes in Equity

9

Company Statement of Changes in Equity

10

Consolidated Cash Flow Statement

11

Notes to the Consolidated Cash Flow Statement

12

Notes to the Consolidated Financial Statements

13

DIRECTORS:

J Miller

Mrs J Miller

J J Miller

REGISTERED OFFICE:

Gill Lane

Longton

Preston

PR4 4SR

REGISTERED NUMBER:

08449135 (England and Wales)

AUDITORS:

Rushtons

Chartered Accountants

Statutory Auditors

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

Millers of Longton Holdings Limited is a holding company for that of Millers of Longton Limited. Millers of Longton Limited is a 24HR commercial vehicle recovery company. The group is situated in Lancashire, with the subsidiary company offering various services: a control room for assistance in vehicle recovery within the UK and Europe, commercial vehicle workshops, MOT facilities up to class 7, HGV vehicle rental and commercial properties for rent.

In the year to 31 March 2025, the group's revenue has stayed fairly consistent. The group is in a stable position and continues to acquire land to develop its existing premises. The core client base is being maintained and the directors use various Key Performance Indicators (KPIs), such as a wide range of profitability, efficiency and liquidity ratios.

Turnover

YE 2025 was £14,525,736

YE 2024 was £14,919,590

Gross Profit

YE 2025 was £3,612,301

YE 2024 was £3,560,760

Net Profit

YE 2025 was £1,667,630

YE 2024 was £2,194,078

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have considered the principal risks and uncertainties which face the business and are satisfied that they have systems in place to address these risks. These matters are reviewed at regular Board meetings, which also include devising strategies for maintaining high quality standards and training and developing staff.

Liquidity and cash flow

The group actively monitors its financial position in ensuring that it has sufficient funds for its operational requirements and investment for future growth. There are no concerns in this capacity.

Credit risk

Credit checks are performed where possible and strict credit control procedures mitigate the risk of credit extension to customers. There are no concerns in this capacity.

ON BEHALF OF THE BOARD:

J Miller - Director

11 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

DIVIDENDS

Dividends have been paid during the year amounting to £202,400 (2024: £327,000).

FUTURE DEVELOPMENTS

The group has recently purchased a large piece of land next door to their existing premises. The planning permission has been granted and works have now started to develop this into a car park for staff and to be rented to tenants. This will bring more employment opportunities to the area and will allow the group to expand their fleet of vehicles as they deem necessary.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

J Miller

Mrs J Miller

J J Miller

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of 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 judgements and accounting estimates that are reasonable and prudent;

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

J Miller - Director

11 December 2025

Opinion

We have audited the financial statements of Millers of Longton Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 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; and

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 and 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors 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 Group Strategic Report or the Report of the Directors.

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

-	adequate accounting records have not been kept 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 Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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.

Auditors' responsibilities for the audit of the financial statements

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

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

Identifying and assessing potential risks related to irregularities

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered a number of issues, such as the nature of the group's industry, their control environment and business performance. We also discussed amongst our engagement team how and where fraud might occur and any potential indicators of fraud.

We obtained an understanding of the legal and regulatory framework that the group operates in and focussed our attention on any laws and regulations which might be considered as "showstoppers". We also looked at internal controls in place at the group, established to mitigate risks related to fraud or non-compliance with laws and regulations.

In response to other identified risks, we reviewed the financial statement disclosures, we made enquiries of the group as to potential litigation and claims, we performed analytical procedures to look for unusual trends or unexpected relationships and we read any available meeting minutes.

We also addressed the risk of fraud through management override of controls by testing appropriate journal entries and other adjustments. We also assessed accounting estimates and considered any significant transactions that might be considered unusual in the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

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

Adam Calvert FCA (Senior Statutory Auditor)

for and on behalf of Rushtons

Chartered Accountants

Statutory Auditors

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

15 December 2025

TURNOVER

3

14,525,736

14,919,590

Cost of sales

10,913,435

11,358,830

GROSS PROFIT

3,612,301

3,560,760

Administrative expenses

2,110,304

1,492,872

1,501,997

2,067,888

Other operating income

145,376

112,939

OPERATING PROFIT

5

1,647,373

2,180,827

Interest receivable and similar income

46,794

39,315

1,694,167

2,220,142

Interest payable and similar expenses

6

26,537

26,064

PROFIT BEFORE TAXATION

1,667,630

2,194,078

Tax on profit

7

193,491

309,738

PROFIT FOR THE FINANCIAL YEAR

1,474,139

1,884,340

FIXED ASSETS

Tangible assets

10

5,806,546

4,539,437

Investments

11

238,009

268,547

6,044,555

4,807,984

CURRENT ASSETS

Stocks

12

5,000

5,000

Debtors

13

3,496,481

3,796,938

Cash at bank and in hand

2,568,159

2,342,165

6,069,640

6,144,103

CREDITORS

Amounts falling due within one year

14

1,541,454

1,599,677

NET CURRENT ASSETS

4,528,186

4,544,426

TOTAL ASSETS LESS CURRENT LIABILITIES

10,572,741

9,352,410

CREDITORS

Amounts falling due after more than one year

15

(720,669

)

(782,049

)

PROVISIONS FOR LIABILITIES

19

(34,135

)

(24,163

)

NET ASSETS

9,817,937

8,546,198

CAPITAL AND RESERVES

Called up share capital

20

720,200

720,200

Fair value reserve

21

25,327

25,327

Retained earnings

21

8,312,892

7,164,713

SHAREHOLDERS' FUNDS

9,058,419

7,910,240

NON-CONTROLLING INTERESTS

759,518

635,958

TOTAL EQUITY

9,817,937

8,546,198

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

J Miller - Director

Mrs J Miller - Director

FIXED ASSETS

Tangible assets

10

5,123,124

3,849,277

Investments

11

962,809

993,347

6,085,933

4,842,624

CURRENT ASSETS

Debtors

13

1,253,019

1,372,742

Cash at bank

558,217

417,581

1,811,236

1,790,323

CREDITORS

Amounts falling due within one year

14

251,040

113,981

NET CURRENT ASSETS

1,560,196

1,676,342

TOTAL ASSETS LESS CURRENT LIABILITIES

7,646,129

6,518,966

CREDITORS

Amounts falling due after more than one year

15

720,669

782,049

NET ASSETS

6,925,460

5,736,917

CAPITAL AND RESERVES

Called up share capital

20

720,200

720,200

Fair value reserve

25,327

25,327

Retained earnings

6,179,933

4,991,390

SHAREHOLDERS' FUNDS

6,925,460

5,736,917

Company's profit for the financial year

1,375,943

1,627,432

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

J Miller - Director

Mrs J Miller - Director

Called up

Fair

share

Retained

value

capital

earnings

reserve

£

£

£

Balance at 1 April 2023

720,200

5,766,481

25,327

Changes in equity

Dividends

-

(312,000

)

-

Total comprehensive income

-

1,710,232

-

Balance at 31 March 2024

720,200

7,164,713

25,327

Changes in equity

Dividends

-

(187,400

)

-

Total comprehensive income

-

1,335,579

-

Balance at 31 March 2025

720,200

8,312,892

25,327

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1 April 2023

6,512,008

476,850

6,988,858

Changes in equity

Dividends

(312,000

)

(15,000

)

(327,000

)

Total comprehensive income

1,710,232

174,108

1,884,340

Balance at 31 March 2024

7,910,240

635,958

8,546,198

Changes in equity

Dividends

(187,400

)

(15,000

)

(202,400

)

Total comprehensive income

1,335,579

138,560

1,474,139

Balance at 31 March 2025

9,058,419

759,518

9,817,937

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

720,200

3,675,958

25,327

4,421,485

Changes in equity

Dividends

-

(312,000

)

-

(312,000

)

Total comprehensive income

-

1,627,432

-

1,627,432

Balance at 31 March 2024

720,200

4,991,390

25,327

5,736,917

Changes in equity

Dividends

-

(187,400

)

-

(187,400

)

Total comprehensive income

-

1,375,943

-

1,375,943

Balance at 31 March 2025

720,200

6,179,933

25,327

6,925,460

Cash flows from operating activities

Cash generated from operations

1

2,196,116

1,752,237

Interest paid

(24,974

)

(26,064

)

Interest element of hire purchase payments paid

(1,563

)

-

Tax paid

(216,426

)

(409,148

)

Net cash from operating activities

1,953,153

1,317,025

Cash flows from investing activities

Purchase of tangible fixed assets

(1,540,197

)

(1,392,275

)

Purchase of fixed asset investments

(103,055

)

(133,593

)

Sale of tangible fixed assets

127,016

654,166

Sale of fixed asset investments

96,000

215,000

Interest received

46,794

39,315

Net cash from investing activities

(1,373,442

)

(617,387

)

Cash flows from financing activities

New loans in year

76,580

-

Loan repayments in year

(49,836

)

(24,065

)

Interest paid on loans in year

26,357

-

Capital repayments in year

(35,065

)

(11,219

)

Amount introduced by directors

629,439

527,953

Amount withdrawn by directors

(798,792

)

(715,603

)

Equity dividends paid

(187,400

)

(312,000

)

Dividends paid to minority interests

(15,000

)

(15,000

)

Net cash from financing activities

(353,717

)

(549,934

)

Increase in cash and cash equivalents

225,994

149,704

Cash and cash equivalents at beginning of year

2

2,342,165

2,192,461

Cash and cash equivalents at end of year

2

2,568,159

2,342,165

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

1,667,630

2,194,078

Depreciation charges

152,965

116,473

Loss/(profit) on disposal of fixed assets

30,700

(452,147

)

Finance costs

26,537

26,064

Finance income

(46,794

)

(39,315

)

1,831,038

1,845,153

Decrease in trade and other debtors

470,743

21,123

Decrease in trade and other creditors

(105,665

)

(114,039

)

Cash generated from operations

2,196,116

1,752,237

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

2,568,159

2,342,165

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,342,165

2,192,461

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

2,342,165

225,994

2,568,159

2,342,165

225,994

2,568,159

Debt

Finance leases

(63,653

)

(42,898

)

(106,551

)

Debts falling due within 1 year

(49,836

)

-

(49,836

)

Debts falling due after 1 year

(729,615

)

24,863

(704,752

)

(843,104

)

(18,035

)

(861,139

)

Total

1,499,061

207,959

1,707,020

1.	STATUTORY INFORMATION

Millers of Longton Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

These consolidated financial statements are presented in Sterling which is the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest £1.

Turnover

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

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on cost and 15% on reducing balance

Motor vehicles

-

5% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

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

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

Pension costs and other post-retirement benefits

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

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Recoveries

13,997,632

14,125,191

Workshop sales

528,104

720,587

Truck Sales

-

73,812

14,525,736

14,919,590

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,387,963

1,263,817

Social security costs

902

833

Other pension costs

64,581

149,532

1,453,446

1,414,182

The average number of employees during the year was as follows:

2025

2024

Directors and administration

26

31

Workshop/Recovery

9

5

35

36

2025

2024

£

£

Directors' remuneration

24,388

28,299

Directors' pension contributions to money purchase schemes

30,000

120,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

2,792

6,480

Depreciation - owned assets

148,757

116,473

Depreciation - assets on hire purchase contracts

4,208

-

Loss/(profit) on disposal of fixed assets

30,700

(452,147

)

Auditors' remuneration

12,000

12,000

Foreign exchange differences

-

3,657