REGISTERED NUMBER: 10681180 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

HBC LOGISTICS LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

S J Ketteridge

D B Northfield

B R Weldon

REGISTERED OFFICE:

7 St John's Road

Harrow

Middlesex

HA1 2EY

REGISTERED NUMBER:

10681180 (England and Wales)

AUDITORS:

Macalvins Limited

Chartered Accountants

and Statutory Auditors

7 St John's Road

Harrow

Middlesex

HA1 2EY

The directors present their strategic report for the period ended 31 March 2025. This report is only part of the company's annual accounts and reports.

Business review

Turnover for the year was £14,425,050, marking an approximate 4% increase from £13,843,293 in 2024.

The gross margin amounted to £3,430,395, with a margin of 24%, in line with the previous year’s £3,490,093 and a 25% margin.

The company reported a trading loss before tax of £121,591, a decrease from the prior year's profit before tax of £68,985.

Current assets at the end of the year were £4,505,361 decreased from £4,876,661 in 2024, with cash reserves increasing to £79,456 from £72,222.

Current liabilities (amounts falling due within one year) decreased to £4,511,855, from £5,044,688 in the previous year.

Liabilities due beyond one year decreased to £535,437, compared to £912,150 in 2024.

Capital and reserves at the end of the year stood at £848,680 increased from £579,373 in the previous period.

Key performance indicators

The directors use key performance indicators such as like-for-like turnover, gross margin, operating profit margin, wage cost, EBITDA, and cash flow to monitor business performance. Additionally, non-financial measures, including health and safety audits and staff turnover, are regularly reviewed. The directors continuously evaluate the development team, processes, and training to ensure the delivery of the highest quality products.

The company’s objective is to achieve year-on-year revenue growth, with debtors and cash balances increasing in line with sales, while carefully managing and limiting the growth of administrative expenses.

Principal risks and uncertainties

Fluctuations in global and regional economies can significantly impact demand for logistics services. Economic downturns may lead to reduced shipping volumes and lower revenue. The logistics sector is also highly sensitive to changes in fuel prices; sudden increases can elevate transportation costs, affecting profit margins if these costs cannot be passed on to customers.

Moreover, events such as natural disasters, geopolitical conflicts, pandemics, and trade barriers can disrupt supply chains, resulting in delays, increased costs, and reduced operational efficiency. The industry must navigate extensive regulatory requirements related to transportation safety, environmental standards, and labor laws, with non-compliance potentially leading to penalties and reputational damage.

Rapid technological advancements present both opportunities and risks. Failure to adopt innovations like automation, AI, and data analytics could result in a competitive disadvantage. Additionally, the growing emphasis on reducing carbon emissions and adopting sustainable practices can increase operational costs, particularly as regulations around emissions become more stringent.

While the company management has developed specific plans to deal with these risk areas and the directors consider such plans to be adequate, not all risk factors are within management control.

Financial risk management objectives and policies

The directors have identified the financial risk management objectives as minimising any threats to the continued financial well-being and stability of the company. The directors seek to minimise financial risk through the maintenance of a system of internal controls, sourcing products and services at the most competitive prices and maintaining close relationships with customers.

The directors are responsible for the company's system of internal control and for evaluating its effectiveness. Such a system is designed to manage rather than eliminate the risk of failure to achieve business objectives and can only provide reasonable and not absolute assurance against material misstatement or loss.

Key elements of the company's system of internal controls include management accounts including comparison with prior periods and ad-hoc reports produced for the directors when deemed necessary by senior management. Reliance is placed on senior management to ensure effective control.

The Report of the Independent Auditors is unqualified and the Auditors Statement on the consistency of the Directors' Report and Strategic Report with the Financial Statements is also unqualified.

ON BEHALF OF THE BOARD:

B R Weldon - Director

30 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of freight transport by road & logistics.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 237,867 .

DIRECTORS

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

S J Ketteridge

D B Northfield

B R Weldon

POLITICAL DONATIONS AND EXPENDITURE

During the year, the company made donations of £2,381 (2024: £4,325) which are not related to any political donations and expenditure.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

B R Weldon - Director

30 December 2025

Opinion

We have audited the financial statements of HBC Logistics Ltd (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 March 2025 and of its loss 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 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 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, 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 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 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 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and on - 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's 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;

- 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;

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

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

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.

Shailesh Patel (Senior Statutory Auditor)

for and on behalf of Macalvins Limited

Chartered Accountants

and Statutory Auditors

7 St John's Road

Harrow

Middlesex

HA1 2EY

30 December 2025

TURNOVER

3

14,425,050

13,843,293

Cost of sales

10,994,655

10,353,200

GROSS PROFIT

3,430,395

3,490,093

Administrative expenses

3,453,720

3,368,204

(23,325

)

121,889

Other operating income

36,309

61,870

OPERATING PROFIT

5

12,984

183,759

Interest payable and similar expenses

6

134,575

114,774

(LOSS)/PROFIT BEFORE TAXATION

(121,591

)

68,985

Tax on (loss)/profit

7

(13,365

)

210,795

LOSS FOR THE FINANCIAL YEAR

(108,226

)

(141,810

)

LOSS FOR THE YEAR

(108,226

)

(141,810

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(108,226

)

(141,810

)

FIXED ASSETS

Tangible assets

9

1,748,438

2,088,835

CURRENT ASSETS

Debtors

10

4,425,905

4,804,439

Cash at bank and in hand

79,456

72,222

4,505,361

4,876,661

CREDITORS

Amounts falling due within one year

11

4,511,855

5,044,688

NET CURRENT LIABILITIES

(6,494

)

(168,027

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,741,944

1,920,808

CREDITORS

Amounts falling due after more than one year

12

(535,437

)

(912,150

)

PROVISIONS FOR LIABILITIES

15

(357,827

)

(429,285

)

NET ASSETS

848,680

579,373

CAPITAL AND RESERVES

Called up share capital

16

6

6

Retained earnings

17

848,674

579,367

SHAREHOLDERS' FUNDS

848,680

579,373

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

B R Weldon - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

6

970,777

970,783

Changes in equity

Dividends

-

(249,600

)

(249,600

)

Total comprehensive income

-

(141,810

)

(141,810

)

Balance at 31 March 2024

6

579,367

579,373

Changes in equity

Dividends

-

(237,867

)

(237,867

)

Total comprehensive income

-

(108,226

)

(108,226

)

Capital contribution

-

615,400

615,400

Balance at 31 March 2025

6

848,674

848,680

Cash flows from operating activities

Cash generated from operations

1

1,716,960

1,572,584

Interest paid

(34,245

)

(49,586

)

Interest element of hire purchase payments paid

(100,330

)

(65,188

)

Tax paid

(106,903

)

390,197

Net cash from operating activities

1,475,482

1,848,007

Cash flows from investing activities

Purchase of tangible fixed assets

(816,574

)

(1,036,612

)

Sale of tangible fixed assets

10,732

71,187

Capital Contribution

615,400

-

Net cash from investing activities

(190,442

)

(965,425

)

Cash flows from financing activities

Loan repaid to Intercompany - KNW

(632,074

)

(24,116

)

Loan to intercompany - Smart

(29,500

)

(79,538

)

Bank Loans repaid

(128,901

)

(375,396

)

Capital repayments in year

(198,975

)

(110,240

)

Amount withdrawn by directors

(50,489

)

(10,917

)

Equity dividends paid

(237,867

)

(249,600

)

Net cash from financing activities

(1,277,806

)

(849,807

)

Increase in cash and cash equivalents

7,234

32,775

Cash and cash equivalents at beginning of year

2

72,222

39,447

Cash and cash equivalents at end of year

2

79,456

72,222

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

(Loss)/profit before taxation

(121,591

)

68,985

Depreciation charges

1,091,080

870,531

Loss on disposal of fixed assets

55,158

43,267

Finance costs

134,575

114,774

1,159,222

1,097,557

Decrease/(increase) in trade and other debtors

465,265

(717,643

)

Increase in trade and other creditors

92,473

1,192,670

Cash generated from operations

1,716,960

1,572,584

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

79,456

72,222

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

72,222

39,447

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

72,222

7,234

79,456

72,222

7,234

79,456

Debt

Finance leases

(1,231,326

)

198,975

(1,032,351

)

Debts falling due within 1 year

(128,901

)

(6,658

)

(135,559

)

Debts falling due after 1 year

(291,158

)

135,558

(155,600

)

(1,651,385

)

327,875

(1,323,510

)

Total

(1,579,163

)

335,109

(1,244,054

)

1.	STATUTORY INFORMATION

HBC Logistics Ltd 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 Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The 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.

Turnover

Revenue is measured at the fair value of consideration received or receivable, net of VAT, trade discounts, and rebates.

Revenue is recognised and measured when all the following conditions are met:

- The significant risks and rewards of ownership or service delivery have been transferred to the

customer.

- The amount of revenue can be measured reliably.

- It is probable that economic benefits will flow to the company.

- The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from Logistics services, UPN services & Pallet Force services are recognised at the point in time when the goods & services are delivered to the final destination and performance obligation is fulfilled once delivery is confirmed, and the customer assumes control of the goods & services.

Revenue from storage and floor space rental is recognised over time on a straight-line basis, in accordance with the period of occupancy agreed with customers. The performance obligation is satisfied continuously over the rental term, reflecting ongoing access to storage facilities. Fuel surcharge income is recognised in line with the underlying logistics services to which the surcharge relates. The performance obligation is satisfied when the associated delivery is completed, as the surcharge is considered a component of the transport service. Revenue from carbon offsetting services is recognised when the offsetting service has been procured or committed on behalf of the customer, typically at the point the corresponding environmental credit or certificate is acquired. The performance obligation is fulfilled when the offset action has effectively taken place.

Other revenue streams include ancillary services such as parcel handling, container hire, or short-term equipment use. These services are recognised at the point the service is delivered, when the specific obligation to the customer is met.

Tangible fixed assets

Tangible fixed assets are recognised when:

- It is probable that the future economic benefits associated with the asset will flow to the entity; and

- The cost of the asset can be measured reliably.

Initial recognition includes the purchase price and any costs directly attributable to bringing the asset into working condition for its intended use.

Tangible fixed assets are measured initially at cost. Cost includes all expenditure directly attributable to bringing the asset into working condition for its intended use, including delivery, installation, and any related professional fees. Subsequent to initial recognition, assets are carried at cost less accumulated depreciation and impairment losses.

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

- Improvements to property - Over the period of the lease

- Plant and machinery - 25% on cost

- Fixtures and fittings - 25% on cost

- Motor vehicles - 33% on cost

- Computer equipment - 33% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Cash & Cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

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

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

2025

2024

£

£

Carbon Neutral

20,641

21,832

Fuel surcharge

402,113

366,956

Logistics

9,790,154

10,146,785

Other Sales

194,605

46,791

Pallet Sales

1,108,138

436,299

Storage

1,345,497

1,038,019

UPN Sales

1,563,902

1,786,611

14,425,050

13,843,293

4.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Owners & Employed Driver Cost

7,187,026

7,111,274

Fuel Costs

468,535

479,463

Pallet Cost

981,865

363,671

2nd Tier Suppliers

676,704

934,488

Other Costs

202,341

178,221

Wages

1,339,323

1,153,505

Social Security Cost

124,111

104,713

Pension

14,749

27,865

10,994,655

10,353,200

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

31.3.25

31.3.24

53

47

5.	OPERATING PROFIT

The operating profit is stated after charging:

Administrative expenses:

31.3.25

31.3.24

£

£

Rent & Rates

811,646

937,921

Directors Salaries

53,800

50,400

Repairs & Renewals

130,099

222,444

Telephone

29,051

85,942

Travelling & Motor Expenses

295,356

330,569

Subscriptions

143,413

114,875

Hire of Plant & Machinery

208,851

150,862

Accountancy Fees

47,481

58,655

Audit Fees

16,000

16,000

Professional Fees

72,617

9,818

Entertainment

82,577

84,929

Consultancy Fees

16,285

-

Bad Debts

35,635

41,036

Other Expenses

239,300

229,015

Bank Charges

125,371

121,940

Depreciation

1,091,081

870,531

Loss on disposal of fixed assets

55,158

43,267

3,453,720

3,368,204

Other operating income:

31.3.25

31.3.24

£

£

Other Income

36,309

61,870

36,309

61,870

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

33,593

32,245

Interest on Overdue PAYE & Tax

-

8,406

Penalty on Overdue PAYE & Tax

652

8,935

Hire purchase

100,330

65,188

134,575

114,774

7.

TAXATION

Analysis of the tax (credit)/charge

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

2025

2024

£

£

Current tax:

UK corporation tax

58,092

90,058

Deferred tax

(71,457

)

120,737

Tax on (loss)/profit

(13,365

)

210,795