REGISTERED NUMBER: 11296406 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

RFS (STAFFS) HOLDING LIMITED

Page

Company information

1

Group strategic report

2

to

3

Report of the directors

4

to

5

Report of the independent auditors

6

to

9

Consolidated income statement

10

Consolidated other comprehensive income

11

Consolidated statement of financial position

12

Company statement of financial position

13

Consolidated statement of changes in equity

14

Company statement of changes in equity

15

Consolidated statement of cash flows

16

Notes to the consolidated statement of cash flows

17

Notes to the consolidated financial statements

18

to

27

DIRECTORS:

C S Reid

S A Reid

D Reid

J Rhodes

REGISTERED OFFICE:

C/O DPC Accountants

Stone House, Stone Road Business Park

Stone Road

Stoke on Trent

Staffordshire

ST4 6SR

BUSINESS ADDRESS:

Reid Freight Services Limited

Newpark Works, Cinderhill Ind. Estate

Weston Coyney

Stoke on Trent

Staffordshire

ST3 5LB

REGISTERED NUMBER:

11296406 (England and Wales)

AUDITORS:

DPC Accountants Ltd

Chartered accountants & statutory auditors

Stone House

Stone Road Business Park

Stoke-On-Trent

ST4 6SR

The principal activity of the company is General / Heavy haulage contractors.

REVIEW OF BUSINESS

We have been focused on developing relations with new customers whilst obtaining strong working relationships with existing customers. This year we have also had multiple opportunities to tender for bigger projects with having new equipment to fulfil these needs.

Overall business performance has been more than satisfactory, with an increase in profit and turnover.

Financial ratios:

2025

2024

Turnover

£6,505,515

£6,100,101

Gross profit

£2,820,483

£2,400,028

Gross profit

43.36%

39.34%

Profit before taxation

£1,144,688

£865,395

Profit after taxation

£852,478

£639,766

We are keen to reduce our carbon footprint where possible and keep all our vehicles to the standard to assist this, this is monitored through our internal systems on a regular basis.

New purchase decisions are influenced by the economic running of the vehicles.

PRINCIPAL RISKS AND UNCERTAINTIES

We are still experiencing tough economic conditions which impacted the generation of work for multiple months of the year.

Risk from competitors is an ongoing concern, as other hauliers adapt and acquire more equipment to become competitive in the same areas as us.

All directors are actively working daily to assess every aspect of the business to run seamlessly and fully compliant. Also put plans in place going forward to ensure employees and customers are satisfied

CORPORATE AND SOCIAL RESPONSIBILITY

The Company recognises its responsibilities in terms of equality and human rights towards its employees and individuals involved with the Company. To these ends a high priority is given to ethical considerations in supplier and employee selection and partnership. The Company has well established codes in respect of employee welfare and respect for the community and the Company operates these.

FINANCIAL RISK MANAGEMENT

Credit risk is addressed by carrying out regular checks of our customers with a reputable credit risk agency. We also constantly review processes to minimise exposure to cybercrime risk. We also actively credit insure.

OPERATING EXPENSES

Operational expenses are monitored continually for each expense category and the directors are satisfied that the business continues to demonstrate strong cost control and caution in its decision making.

WORKING CAPITAL

The Company meets its day to day working capital requirements through cash receipts from customers. These are closely monitored to ensure adherence to agreed credit terms. Stock is regularly reviewed to ensure that the valuation is in line with UK accounting standards and is deemed recoverable. Any obsolete stock that is identified is fully provided for within these financial statements.

ON BEHALF OF THE BOARD:

D Reid - Director

19 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of General / Heavy haulage contractors.

DIVIDENDS

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £280,000.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

C S Reid

S A Reid

Other changes in directors holding office are as follows:

D Reid - appointed 2 April 2024

J Rhodes - appointed 2 April 2024

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 in relation to future developments of the company.

The strategic report can be found on page 2 of these financial statements.

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 are deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

D Reid - Director

19 December 2025

Opinion

We have audited the financial statements of RFS (Staffs) Holding 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 statement of financial position, Company statement of financial position, Consolidated statement of changes in equity, Company statement of changes in equity, Consolidated statement of cash flows and Notes to the consolidated statement of cash flows, 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 four, 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:

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.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

•

the nature of the industry and sector, control environment and business performance including the design of the company remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

•

results of our enquiries of management about their own identification and assessment of the risks of irregularities;

•

any matters we identified having obtained and reviewed the company documentation of their policies and procedures relating to:

-

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

-

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

•

the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Based on this approach, we were able to assess the company risks and ensure the risks were considered throughout all areas of audit testing. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information.

Audit response to risks identified

As a result of performing the above, we identified compliance with the road safety act, health and safety regulation, goods vehicle operators licence and working employment act as key audit matters related to the potential risk of fraud or irregularities. Our procedures to respond to risks identified included the following:

• reviewing the outcomes of external audits;

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• enquiring of management concerning actual and potential litigation and claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• obtaining an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement 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 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 Report of the auditors 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 Report of the auditors. 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 and opinion on the consolidated financial statements.

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 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.

Helen Louise Tidyman (Senior Statutory Auditor)

for and on behalf of DPC Accountants Ltd

Chartered accountants & statutory auditors

Stone House

Stone Road Business Park

Stoke-On-Trent

ST4 6SR

23 December 2025

TURNOVER

6,505,515

6,100,101

Cost of sales

(3,685,032

)

(3,700,073

)

GROSS PROFIT

2,820,483

2,400,028

Administrative expenses

(1,818,430

)

(1,688,525

)

1,002,053

711,503

Other operating income

201,651

252,948

OPERATING PROFIT

4

1,203,704

964,451

Interest payable and similar expenses

5

(59,016

)

(99,056

)

PROFIT BEFORE TAXATION

1,144,688

865,395

Tax on profit

6

(292,210

)

(225,629

)

PROFIT FOR THE FINANCIAL YEAR

852,478

639,766

Profit attributable to:

Owners of the parent

852,478

639,766

PROFIT FOR THE YEAR

852,478

639,766

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

852,478

639,766

Total comprehensive income attributable to:

Owners of the parent

852,478

639,766

FIXED ASSETS

Tangible assets

9

4,575,685

4,507,738

Investments

10

-

-

4,575,685

4,507,738

CURRENT ASSETS

Stocks

11

26,826

34,604

Debtors

12

1,429,046

1,185,144

Cash at bank and in hand

1,470,543

1,230,673

2,926,415

2,450,421

CREDITORS

Amounts falling due within one year

13

(1,576,213

)

(1,159,691

)

NET CURRENT ASSETS

1,350,202

1,290,730

TOTAL ASSETS LESS CURRENT LIABILITIES

5,925,887

5,798,468

CREDITORS

Amounts falling due after more than one year

14

(352,178

)

(801,406

)

PROVISIONS FOR LIABILITIES

18

(902,210

)

(898,041

)

NET ASSETS

4,671,499

4,099,021

CAPITAL AND RESERVES

Called up share capital

19

200

200

Retained earnings

20

4,671,299

4,098,821

4,671,499

4,099,021

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

D Reid - Director

J Rhodes - Director

FIXED ASSETS

Tangible assets

9

-

-

Investments

10

100

-

100

-

CURRENT ASSETS

Debtors

12

101

101

CREDITORS

Amounts falling due within one year

13

(300

)

(300

)

NET CURRENT LIABILITIES

(199

)

(199

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(99

)

(199

)

CAPITAL AND RESERVES

Called up share capital

19

200

100

Retained earnings

20

(299

)

(299

)

(99

)

(199

)

Company's profit for the financial year

280,000

-

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

D Reid - Director

J Rhodes - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

200

3,719,055

3,719,255

Changes in equity

Dividends

-

(260,000

)

(260,000

)

Total comprehensive income

-

639,766

639,766

Balance at 31 March 2024

200

4,098,821

4,099,021

Changes in equity

Dividends

-

(280,000

)

(280,000

)

Total comprehensive income

-

852,478

852,478

Balance at 31 March 2025

200

4,671,299

4,671,499

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

100

(299

)

(199

)

Changes in equity

Balance at 31 March 2024

100

(299

)

(199

)

Changes in equity

Issue of share capital

100

-

100

Dividends

-

(280,000

)

(280,000

)

Total comprehensive income

-

280,000

280,000

Balance at 31 March 2025

200

(299

)

(99

)

Cash flows from operating activities

Cash generated from operations

1

2,224,213

1,946,679

Interest paid

(1,930

)

(8,683

)

Interest element of hire purchase payments paid

(57,086

)

(90,373

)

Tax paid

(141,404

)

592

Net cash from operating activities

2,023,793

1,848,215

Cash flows from investing activities

Purchase of tangible fixed assets

(1,019,208

)

(615,270

)

Sale of tangible fixed assets

129,233

237,250

Net cash from investing activities

(889,975

)

(378,020

)

Cash flows from financing activities

Loan repayments in year

(57,527

)

(73,622

)

Capital repayments in year

(526,761

)

(728,866

)

Amount introduced by directors

281,396

260,000

Amount withdrawn by directors

(311,056

)

(326,219

)

Equity dividends paid

(280,000

)

(260,000

)

Net cash from financing activities

(893,948

)

(1,128,707

)

Increase in cash and cash equivalents

239,870

341,488

Cash and cash equivalents at beginning of year

2

1,230,673

889,185

Cash and cash equivalents at end of year

2

1,470,543

1,230,673

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

31.3.25

31.3.24

£

£

Profit before taxation

1,144,688

865,395

Depreciation charges

790,093

783,584

Loss/(profit) on disposal of fixed assets

31,935

(50,403

)

Finance costs

59,016

99,056

2,025,732

1,697,632

Decrease/(increase) in stocks

7,778

(5,739

)

(Increase)/decrease in trade and other debtors

(214,242

)

237,122

Increase in trade and other creditors

404,945

17,664

Cash generated from operations

2,224,213

1,946,679

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of cash flows in respect of cash and cash equivalents are in respect of these Statement of financial position amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

1,470,543

1,230,673

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

1,230,673

889,185

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

1,230,673

239,870

1,470,543

1,230,673

239,870

1,470,543

Debt

Finance leases

(1,302,484

)

526,761

(775,723

)

Debts falling due within 1 year

(57,751

)

49,186

(8,565

)

Debts falling due after 1 year

(25,683

)

8,341

(17,342

)

(1,385,918

)

584,288

(801,630

)

Total

(155,245

)

824,158

668,913

1.	STATUTORY INFORMATION

RFS (Staffs) Holding 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue recognition

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.

Short leasehold

-

4% on cost

Long leasehold

-

7.5% reducing balance from purchase date

Fixtures and fittings

-

25% reducing balance and 10% reducing balance

Motor vehicles

-

20% reducing balance

Computer equipment

-

straight line over 3 years

Stocks

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

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

1,583,105

1,533,823

Social security costs

135,432

140,221

Other pension costs

61,947

56,466

1,780,484

1,730,510

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

31.3.25

31.3.24

Drivers

22

29

Admin

12

9

Garage

5

7

Directors

4

4

Warehouse

3

3

46

52

The average number of employees by undertakings that were proportionately consolidated during the year was 46 (2024 - 52 ) .

31.3.25

31.3.24

£

£

Directors' remuneration

42,864

46,049