REGISTERED NUMBER: 04109544 (England and Wales)

GBA Transport Limited

Strategic Report, Directors' Report and

Financial Statements for the Year Ended 31st March 2025

Page

Company Information

1

Strategic Report

2

Directors' Report

3

Independent Auditors' Report

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

C Judah

Y Judah

M Simpson

REGISTERED OFFICE:

Meridian House

Alexandra Dock North

Grimsby

DN31 3UA

REGISTERED NUMBER:

04109544 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

The directors present their strategic report for the year ended 31st March 2025.

FAIR REVIEW OF THE BUSINESS

The company's main activity is that of high volume transportation of new and used vehicles; supplying services to the automotive industry. There have been no changes in the company's activities in the year under review.

FY25 welcomed continued robust new vehicle volume following the prior year's return to meaningful levels (post resolution of the global semiconductor supply crisis). This has in turn afforded the Company the opportunity to confidently reinvest to the benefit of future capacity and capability and maintain its industry leading position in respect to operational performance.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is continually seeking new opportunities within the automotive logistics sector as well as providing added value services to its customers, in order to maintain steady, targeted and substantial growth. The company believes one of its main strengths is its customer relationships and the service level and reliability in execution it offers them.

The company’s credit risk is primarily attributable to its trade debtors. Credit risk is managed by running credit risk checks on new customers and by monitoring payments against contractual terms. The company currently has no secured loans or credit finance, so its exposure to debit risk and interest is limited.

The company monitors cash flow as part of its day-to-day control procedures. The Board considers cash flow projections on a monthly basis and ensures the funds are available to be drawn upon as necessary to manage liquidity risk.

The Board works closely with its management team to anticipate and monitor all financial risks, as detailed above, in order to plan and react accordingly to ensure there is minimal effect on the financial performance of the company. The company's approach to risk is reviewed regularly; the Board continues to adjust and adapt said approach to individual risks accordingly as market conditions evolve.

KEY PERFORMANCE INDICATORS

The profit and loss account is set out on page 8 and shows a profit for the year after tax of £201,334 (2024: loss £614,486).

The company's turnover has decreased by 14.5% compared with that of the previous year.

ON BEHALF OF THE BOARD:

C Judah - Director

22nd December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company continued to be that of high volume transportation of new and used vehicles; supplying services to the automotive industry.

DIVIDENDS

No ordinary interim dividends were paid, (2024:nil). The Directors do not recommend the payment of a final dividend.

DIRECTORS

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

C Judah

Y Judah

M Simpson

Qualifying third party indemnity provisions

The company made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Strategic Report, the 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

Going concern

The directors have prepared the 31 March 2025 financial statements on a going concern basis. In recent years, the company's activities have increased on the backdrop of further recovery and stabilisation of vehicle supply. In light of relatively volatile inflationary and regulatory costs, the company has been increasingly selective in respect to those services and contracts with which it engages, ensuring long term economic sustainability.

The directors are of the opinion that the company has sufficient resources to continue as a going concern after considering the above issues. The directors have taken appropriate steps to mitigate the impacts of changing macro-economic conditions on the company's trading activity and cash flow. They therefore believe that the company has adequate resources available to meet its liabilities as they fall due allowing the company to continue in operational existence for a period of at least twelve months from the date of the approval of these financial statements.

Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's

strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments and financial risk management.

ON BEHALF OF THE BOARD:

C Judah - Director

22nd December 2025

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st March 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report 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 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 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 where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the United Kingdom Accounting Standards FRS 102, the Companies Act 2006 and tax legislation. We also considered those laws and regulations that may have an indirect material effect on the financial statements including data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims; and

-

reviewing correspondence with relevant regulators and the company's legal advisors.

Due to 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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

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 Auditors' 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 Auditors' 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.

Matthew Fox FCCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

23rd December 2025

TURNOVER

3

11,264,119

13,157,899

Cost of sales

10,038,643

13,337,859

GROSS PROFIT/(LOSS)

1,225,476

(179,960

)

Administrative expenses

1,006,245

687,414

OPERATING PROFIT/(LOSS)

6

219,231

(867,374

)

Interest receivable and similar income

8

49,247

48,159

PROFIT/(LOSS) BEFORE TAXATION

268,478

(819,215

)

Tax on profit/(loss)

9

67,144

(204,729

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

201,334

(614,486

)

FIXED ASSETS

Tangible assets

10

564,630

347,628

CURRENT ASSETS

Stocks

11

117,071

113,101

Debtors

12

1,878,299

1,476,873

Cash at bank and in hand

925,472

1,022,037

2,920,842

2,612,011

CREDITORS

Amounts falling due within one year

13

1,630,440

1,360,361

NET CURRENT ASSETS

1,290,402

1,251,650

TOTAL ASSETS LESS CURRENT LIABILITIES

1,855,032

1,599,278

PROVISIONS FOR LIABILITIES

15

140,386

85,966

NET ASSETS

1,714,646

1,513,312

CAPITAL AND RESERVES

Called up share capital

16

4

4

Retained earnings

17

1,714,642

1,513,308

SHAREHOLDERS' FUNDS

1,714,646

1,513,312

The financial statements were approved by the Board of Directors and authorised for issue on 22nd December 2025 and were signed on its behalf by:

C Judah - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st April 2023

4

2,127,794

2,127,798

Changes in equity

Total comprehensive income

-

(614,486

)

(614,486

)

Balance at 31st March 2024

4

1,513,308

1,513,312

Changes in equity

Total comprehensive income

-

201,334

201,334

Balance at 31st March 2025

4

1,714,642

1,714,646

1.	ACCOUNTING POLICIES

Company information

GBA Transport Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is Meridian House, Alexandra Dock North, Grimsby, North East Lincolnshire, DN31 3UA.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

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, including the provisions of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts 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.

Financial Reporting Standard 102 - reduced disclosure exemptions

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. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes

and disclosures.

The financial statements of the company are consolidated in the financial statements of Ensco 1330 Limited. These consolidated financial statements are available from its registered office, Meridian House, Alexandra Dock North, Grimsby, North East Lincolnshire, DN31 3UA.

Going concern

The directors have prepared the 31 March 2025 financial statements on a going concern basis. In recent years, the company's activities have increased on the backdrop of further recovery and stabilisation of vehicle supply. In light of relatively volatile inflationary and regulatory costs, the company has been increasingly selective in respect to those services and contracts with which it engages, ensuring long term economic sustainability.

The directors are of the opinion that the company has sufficient resources to continue as a going concern after considering the above issues. The directors have taken appropriate steps to mitigate the impacts of changing macro-economic conditions on the company's trading activity and cash flow. They therefore believe that the company has adequate resources available to meet its liabilities as they fall due allowing the company to continue in operational existence for a period of at least twelve months from the date of the approval of these financial statements.

Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

Revenue is recognised at the point of the delivery of goods or over the holding period of delivered goods.

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 of assets less their residual values over their useful lives on the following bases:

Plant and equipment

20% reducing balance

Fixtures and fittings

15% reducing balance

Computer equipment

20% on cost

Motor vehicles

25% reducing balance and 7 years 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.

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.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average cost basis and for finished goods and work in progress, includes direct labour costs and overheads appropriate to the stage of manufacture.

Financial instruments

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

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

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

Basic financial assets

Basic financial assets, which include trade and other debtors, amounts owed by group undertakings 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets 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 trade and other creditors and amounts owed to fellow group undertakings, 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 payments discounted at a market rate of interest.

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

Derecognition of financial liabilities

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

Equity instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs.

Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable. Current and deferred tax is charged or credited to profit or loss.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

Leases

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 leases asset are consumed.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

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

Retirement benefits

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

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.

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.

Estimated useful life of tangible fixed assets

Depreciation is charged to the statement of comprehensive income based on useful economic life selected, which requires an estimation of the period over which the company expects to consume the future economic benefits embodied in the assets. Management base these estimates on past experience of life of similar assets. For the carrying value of tangible fixed assets see note 10.

Impairment of tangible fixed assets

The company reviews the carrying value of its tangible fixed assets for indications of impairment at each period end. If indicators of impairment exist, the carrying value of the asset is subject to further testing to determine whether its carrying value exceeds its recoverable amount. See note 10 for details of the carrying amount of the company's tangible fixed assets.

3.

TURNOVER

The turnover and profit (2024 - loss) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

10,537,850

10,268,010

Europe

726,269

2,889,889

11,264,119

13,157,899

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,581,175

2,338,095

Social security costs

290,098

251,568

Other pension costs

56,951

49,600

2,928,224

2,639,263

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

2025

2024

Operational

57

56

Administration and other

4

3

61

59

5.	DIRECTORS' REMUNERATION

Directors' remuneration during the year was £nil (2024: £nil).

6.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

717,728

857,959

Depreciation - owned assets

87,998

64,349

Foreign exchange differences

-

(27

)

7.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

8,150

6,600

Auditors' remuneration for non audit work

3,850

5,400

8.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Deposit account interest

49,247

48,159

9.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

12,724

(189,461

)

Deferred tax

54,420

(15,268

)

Tax on profit/(loss)

67,144

(204,729

)

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit/(loss) before tax

268,478

(819,215

)

Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

67,120

(204,804

)

Effects of:

Adjustments to tax charge in respect of previous periods

-

75

Fixed asset differences

24

-

Total tax charge/(credit)

67,144

(204,729

)

10.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2024

179,279

84,458

409,465

239,566

912,768

Additions

-

-

305,000

-

305,000

At 31st March 2025

179,279

84,458

714,465

239,566

1,217,768

DEPRECIATION

At 1st April 2024

149,683

72,432

112,152

230,873

565,140

Charge for year

5,920

1,804

78,537

1,737

87,998

At 31st March 2025

155,603

74,236

190,689

232,610

653,138

NET BOOK VALUE

At 31st March 2025

23,676

10,222

523,776

6,956

564,630

At 31st March 2024

29,596

12,026

297,313

8,693

347,628

11.

STOCKS

2025

2024

£

£

Stocks

117,071

113,101

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

494,478

294,849

Amounts owed by group undertakings

627,434

473,305

Other debtors

283,633

354,623

Tax

-

189,351

Prepayments and accrued income

472,754

164,745

1,878,299

1,476,873

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,225,363

1,002,337

Amounts owed to group undertakings

137,309

-

Tax

12,724

-

Social security and other taxes

63,301

73,418

Accruals and deferred income

191,743

284,606

1,630,440

1,360,361

14.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

10,134

10,018

Between one and five years

16,647

37,406

26,781

47,424

15.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

140,386

85,966

Deferred

tax

£

Balance at 1st April 2024

85,966

Provided during year

54,420

Balance at 31st March 2025

140,386

16.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

400

Ordinary shares

£0.01

4

4

17.

RESERVES

Retained

earnings

£

At 1st April 2024

1,513,308

Profit for the year

201,334

At 31st March 2025

1,714,642

18.	PENSION COMMITMENTS

2025

2024

Defined contribution scheme

£

£

Charge to profit or loss in respect of defined contribution schemes

56,950

49,600

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.