REGISTERED NUMBER: 11703177 (England and Wales)

GAVIN GRIFFITHS HAULAGE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G T J Griffiths

R Williams

A H Davies

REGISTERED OFFICE:

Beechwood House Bryntywod

Llangyfelach

Swansea

SA5 7LP

REGISTERED NUMBER:

11703177 (England and Wales)

AUDITORS:

Bevan Buckland LLP

Chartered Accountants

And Statutory Auditors

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

FIXED ASSETS

Tangible assets

4

752,909

587,505

CURRENT ASSETS

Debtors

5

386,510

373,795

Cash at bank and in hand

23,526

23,123

410,036

396,918

CREDITORS

Amounts falling due within one year

6

477,691

551,484

NET CURRENT LIABILITIES

(67,655

)

(154,566

)

TOTAL ASSETS LESS CURRENT LIABILITIES

685,254

432,939

CREDITORS

Amounts falling due after more than one year

7

(531,556

)

(302,703

)

PROVISIONS FOR LIABILITIES

(46,329

)

(32,366

)

NET ASSETS

107,369

97,870

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

107,269

97,770

107,369

97,870

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

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:

G T J Griffiths - Director

1.	STATUTORY INFORMATION

Gavin Griffiths Haulage 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The financial statements have been prepared on a going concern basis. The Company had net current liabilities of £67,655 (2024: £154,566) at the reporting date. Despite this, the Company reported net assets of £76,117 (2024: £97,870).

The Directors have assessed the Company’s ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements. As part of this assessment, the Directors have considered the Company’s cash flow forecasts, current trading performance, and the level of financial support available from other group entities.

The Company, if required, can benefit from financial backing of its parent undertaking and other group companies. Formal letters of support have been obtained confirming that group entities can continue to provide such financial assistance as is necessary to enable the Company to meet its liabilities as they fall due. Based on this support, the Directors are satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the financial statements are prepared on a going concern basis and do not include any adjustments that would be required if this basis were inappropriate.

Turnover

Revenue represents net invoiced sales of goods and services, excluding value added tax. Transport sales are recognised on delivery of goods.

In certain cases, payments are received from customers prior to satisfaction of performance obligations and recognised as deferred income. These balances are considered contract liabilities and are typically related to prepayments for third party expenses that are incurred shortly after billing.

Interest received is recognised on receipt.

Tangible fixed assets

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

Plant and Machinery

-

15% on cost

Motor vehicles

-

20% on cost

If there is an indication that there has been a significant change in the depreciation rate or residual value of an asset, the depreciation of that asset is revised prospectively to reflect the new expectations.

All property, plant and equipment use the cost model and are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Cost comprises the purchase price of the asset and expenditure directly attributable to the acquisition of the item.

A fixed asset is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. 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 the income statement.

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Impairment of fixed assets

The group performs impairment testing where there are any indicators of impairment. Impairment is calculated as the difference between the carrying value and the recoverable value of the asset. Recoverable value is the higher of net realisable value and estimated value in use at the date the impairment loss is recognised. Value in use represents the present value of expected future discounted cash flows. If incurred, impairment is recognised immediately in the income statement.

Where an impairment loss subsequently reverses, the carrying value of the asset is increased to the revised estimate of the recoverable amount, but so that the increased carrying value does not exceed the carrying value that would have been determined if no impairment loss had been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately as a credit to the income statement.

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 instruments

Basic financial liabilities, including trade and other payables, bank loans 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 receipts discounted at a market rate of interest.

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

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Derecognition of financial liabilities

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

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and cash in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Functional and presentation currency

These financial statements are presented in pounds sterling because that is the currency of the primary economic environment in which the Company operates (its functional currency).

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised s liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

590,371

35,090

625,461

Additions

264,665

-

264,665

At 31 March 2025

855,036

35,090

890,126

DEPRECIATION

At 1 April 2024

32,106

5,850

37,956

Charge for year

92,243

7,018

99,261

At 31 March 2025

124,349

12,868

137,217

NET BOOK VALUE

At 31 March 2025

730,687

22,222

752,909

At 31 March 2024

558,265

29,240

587,505

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

Machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

576,301

35,090

611,391

Additions

264,665

-

264,665

At 31 March 2025

840,966

35,090

876,056

DEPRECIATION

At 1 April 2024

31,226

5,850

37,076

Charge for year

90,132

7,018

97,150

At 31 March 2025

121,358

12,868

134,226

NET BOOK VALUE

At 31 March 2025

719,608

22,222

741,830

At 31 March 2024

545,075

29,240

574,315

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

198,532

271,964

Amounts owed by group undertakings

119,160

-

Amounts owed by related parties

61,380

98,287

Other debtors

7,438

3,544

386,510

373,795

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

235,492

188,490

Trade creditors

173,415

263,980

Amounts owed to group undertakings

43,628

-

Amounts owed to related parties

-

31,257

Taxation and social security

11,894

58,334

Other creditors

13,262

9,423

477,691

551,484

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

276,556

262,703

Amounts owed to group undertakings

255,000

-

Amounts owed to related parties

-

40,000

531,556

302,703

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

512,048

451,193

Hire purchase liabilities are secured by the assets to which the agreement relates, and are included within tangible fixed assets.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Jones FCCA (Senior Statutory Auditor)

for and on behalf of Bevan Buckland LLP

10.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £1,942 (2024: £1,942) owed to a director of the company. This amount is unsecured, interest-free and repayable on demand.

Directors' Interests

During the year, the Company entered into transactions with entities in which a director has control, significant influence, or joint venture interest by virtue of their shareholding.

Total sales during the year: £1,055,646.

Outstanding receivable at year end: £61,380.

All transactions were made on an arms length basis and under normal commercial terms. No guarantees have been given or received in respect of these balances. The amounts are unsecured and will be settled in cash.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G T J Griffiths.