Silva Brothers Logistics Ltd

	Page
Strategic Report	1—2
Director's Report	3—4
Independent Auditor's Report	5—7
Income Statement	8
Statement of Comprehensive Income	9
Statement of Financial Position	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Statement of Cash Flows	13
Notes to the Financial Statements	14—19

The director presents his strategic report for the year ended 31 December 2024.

Principal Activity

The company’s principal activity is the provision of haulage, courier, and warehousing services.

Review of the Business

During the year ended 31 December 2024, the company experienced significant growth, with turnover increasing by 26% to £45,540,989 (2023: £36,036,882). This growth was supported by a substantial expansion of the vehicle fleet, resulting in tangible fixed assets increasing to £9,504,393 (2023: £2,980,606). Investment was primarily focused on fleet capacity and operational efficiency to support increased demand.

Key Financial Performance Indicators (KPIs)

The Director monitors performance using the following KPIs:

Turnover: £45,540,989

Gross profit margin: 19% (£8,620,623)

Operating profit: £1,195,091

Net asset value: £4,266,453

These indicators demonstrate continued revenue growth, supported by strategic asset investment and operational scale.

Section 172 Statement

In accordance with section 172 of the Companies Act 2006, the Director has acted in a way considered, in good faith, to promote the success of the company for the benefit of its members as a whole.

Key considerations and decisions during the year included:

Long-term strategy: Investment of £9,507,913 in new assets, including advanced electric vehicles such as the Mercedes eVito, to support sustainable growth.

Risk management: Implementation of enhanced monitoring controls for fuel price volatility and ongoing regulatory compliance.

Environmental impact: Continued transition toward electric and low-emission vehicles to improve environmental sustainability and reduce the company’s carbon footprint.

Principal Risks and Uncertainties

Silva Brother Logistics Ltd operates in a highly competitive and regulated market. The key risks facing the company include:

● Regulatory Compliance: Changes in transport and employment laws require continuous monitoring to ensure full compliance.

● Economic Conditions: Fluctuations in fuel prices, interest rates, and inflation may impact operational costs.

● Market Competition: The logistics sector remains competitive, requiring constant innovation to maintain and expand market share.

● Supply Chain Disruptions: External factors such as vehicle shortages or delays in parts procurement can impact service delivery.

● Credit & Liquidity Risk: Typical working capital cycles in the industry mean that credit risk is

fundamental.

● Interest rate risk : The company was indirectly exposed to interest rate fluctuations, as part of invoice

financing arrangements, part way through the year

The company continues to implement robust risk management strategies, including financial planning, compliance monitoring, and strategic supplier agreements to mitigate these risks.

Strategic Developments and Future Outlook

Silva Brother Logistics Ltd remains committed to strategic growth and operational efficiency. Key

initiatives for 2025 include:

• Fleet Expansion: Investment in new vehicles to improve service reliability and capacity.

...CONTINUED

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Silva Brothers Logistics Ltd

Strategic Report (continued)

For The Year Ended 31 December 2024

Principal Risks and Uncertainties - continued

• Technology Integration: Implementation of advanced tracking and management software to enhance logistics efficiency.

• Workforce Development: Continued investment in training and staff development to improve service quality.

• Diversification of Service Offerings: Exploring new logistics solutions and contract opportunities to drive further growth.

Given the company's solid financial performance and strategic direction, it is well-positioned for sustained growth in the coming years.

Financial Snapshot for Board Review:

Category	2024 (£)	2023 (£)
Total Turnover	45,540,989	36,036,882
Gross Profit	8,620,623	4,726,197
Stock Impairment	(2,322,515)	-
Net Profit After Tax	698,569	2,308,498
Corporation Tax	249,759	109,054

Conclusion

Silva Brother Logistics Ltd has demonstrated resilience and strategic agility in 2024, achieving significant financial growth and operational efficiencies. With a strong foundation and forward-looking strategies, the company is confident in its ability to navigate industry challenges and capitalize on new opportunities.

Directors

Approved by the Board on 24/12/2025 and signed

On behalf of the board

Mr Jodelle Pereira da Silva

Director

24/12/2025

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Silva Brothers Logistics Ltd

Company No. 08155505

Director's Report For The Year Ended 31 December 2024

Director's Report

The director presents his report and the financial statements for the year ended 31 December 2024.

Future Developments

The Director expects 2025 to focus on:

Fleet reliability and optimisation
Enhanced technology integration for real-time vehicle tracking
Workforce development and retention

Employee Engagement Statement

The company employed an average of 15 employees during the year. We Prioritize:

Health and safety: Continuous training and protective clothing provisions.
Communication: Keeping staff informed of company performance and strategic goals.
Pensions: Maintenance of a defined contribution scheme with £5,267 charged this year.

Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Company

The Company maintains strong relationships with:

Suppliers: Managing trade credit of £2,468,612 and strategic hire purchase agreements totaling £10,775,122.
Customers: Ensuring high service quality as evidenced by the £8.7 million in service-based revenue.

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the director consider them to be of strategic importance to the business.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director 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 the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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. He is 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.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

The Director, Mr Jodelle Pereira da Silva, confirms that there is no relevant audit information of which the company’s auditors are unaware.

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Silva Brothers Logistics Ltd

Director's Report (continued)

For The Year Ended 31 December 2024

Independent Auditors

The auditors, Ipsum Accountants Ltd, have indicated their willingness to continue in office and a resolution

concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Jodelle Pereira da Silva

Director

24/12/2025

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Independent Auditor's Report

to the Members of

Silva Brothers Logistics Ltd

Independent Auditor's Report

Opinion

We have audited the financial statements of Silva Brothers Logistics Ltd for the year ended 31 December 2024 which comprise the Income Statement, Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(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 Auditor's 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 director's 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's

ability to continue as a going concern.

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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's 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 Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006

requires us to report to you

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Independent Auditor's Report (continued)

to the Members of

Silva Brothers Logistics Ltd

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 3—4, the director is 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 director determine is 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 director is 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.

Auditor's 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.

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.

Because of 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.

Based on our understanding of the company and industry, we identified the principal risks of non-compliance

with laws and regulations related to Companies Act 2006, and we considered the extent to which non-

compliance might have a material effect on the financial statements. We evaluated management’s incentives

and opportunities for fraudulent manipulation of the financial statements (including the risk of override of

controls) and determined that the principal risks in addition to this, could be from:

1. Revenue recognition.

2. Valuation of inventory and other current assets.

Some of the procedures we undertook during the audit included:

- Testing revenue recognition on a sample basis, and assessing the accuracy of receivables

- Understanding the inventory valuation process, and making an assessment of whether it could give rise material misstatements

- Enquiry of management around actual and potential non-compliance with laws and regulations and fraud:

- Inspection of supporting documentation, to support transactions in ledgers, where appropriate:

- Identify of management's incentives and opportunites to manipulate financial Statements:

- Challenging assumptions and judgements made by management in relation to their accounting judgements and estimates: and

- Testing journals posted during the year ,by considering specific areas of potential management override

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 that we are required to state to them in an auditor's 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.

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Independent Auditor's Report (continued)

to the Members of

Silva Brothers Logistics Ltd

Iqbal Chowdhury (Senior Statutory Auditor)

for and on behalf of Ipsum Accountants Ltd. , Statutory Auditor

31/12/2025

Ipsum Accountants Ltd.

Chartered Certified Accouintants

16 High Holborn, London

WC1V 6BX

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Silva Brothers Logistics Ltd

Income Statement

For The Year Ended 31 December 2024

Income Statement

		2024	2023
	Notes	£	£
TURNOVER	3	45,540,989	36,036,882
Cost of sales		(36,920,366 )	(31,310,685 )

GROSS PROFIT		8,620,623	4,726,197

Distribution costs		(3,077 )	(4,353 )
Administrative expenses		(7,422,455 )	(1,987,882 )

OPERATING PROFIT	4	1,195,091	2,733,962
Profit on disposal of fixed assets		-	163,692
Interest payable and similar charges	9	(246,763 )	(480,102 )

PROFIT BEFORE TAXATION		948,328	2,417,552
Tax on Profit		(249,759 )	(109,054 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		698,569	2,308,498

The notes on pages 13 to 19 form part of these financial statements.

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Silva Brothers Logistics Ltd

Statement of Comprehensive Income

For The Year Ended 31 December 2024

Statement of Comprehensive Income

	2024	2023
	£	£
PROFIT FOR THE FINANCIAL YEAR	698,569	2,308,498
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	698,569	2,308,498

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Silva Brothers Logistics Ltd

Statement of Financial Position

As At 31 December 2024

Statement of Financial Position

Registered number: 08155505

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	10		9,507,913		2,980,606

			9,507,913		2,980,606
CURRENT ASSETS
Stocks	11	437,201		1,137,976
Debtors	12	7,457,529		5,835,187
Cash at bank and in hand		2,821,109		614,612

		10,715,839		7,587,775
Creditors: Amounts Falling Due Within One Year	13	(7,194,274 )		(4,987,599 )

NET CURRENT ASSETS (LIABILITIES)			3,521,565		2,600,176

TOTAL ASSETS LESS CURRENT LIABILITIES			13,029,478		5,580,782

Creditors: Amounts Falling Due After More Than One Year	14		(8,763,025 )		(2,012,898 )

NET ASSETS			4,266,453		3,567,884

CAPITAL AND RESERVES
Called up share capital	17		100		100
Income Statement			4,266,353		3,567,784

SHAREHOLDERS' FUNDS			4,266,453		3,567,884

On behalf of the board

Mr Jodelle Pereira da Silva

Director

24/12/2025

The notes on pages 13 to 19 form part of these financial statements.

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Silva Brothers Logistics Ltd

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Income Statement	Total
	£	£	£
As at 1 January 2023	100	1,259,286	1,259,386
Profit for the year and total comprehensive income	-	2,308,498	2,308,498

As at 31 December 2023 and 1 January 2024	100	3,567,784	3,567,884


Profit for the year and total comprehensive income	-	698,569	698,569

As at 31 December 2024	100	4,266,353	4,266,453

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Silva Brothers Logistics Ltd

Statement of Cash Flows

For The Year Ended 31 December 2024

Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	2,739,674	938,141
Interest paid		(246,763 )	(480,102 )

Net cash generated from operating activities		2,492,911	458,039

Cash flows from investing activities
Purchase of tangible assets		(6,282,233 )	(753,019 )
Proceeds from disposal of tangible assets		77,309	280,857
Proceeds from disposal of other fixed asset investments		-	19,216

Net cash used in investing activities		(6,204,924 )	(452,946 )

Cash flows from financing activities
Repayment of finance leases		5,885,836	322,933
Amount introduced by directors		31,919	56,247

Net cash generated from financing activities		5,917,755	379,180



Increase in cash and cash equivalents		2,205,742	384,273
Cash and cash equivalents at beginning of year	2	614,447	230,174

Cash and cash equivalents at end of year	2	2,820,189	614,447

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Silva Brothers Logistics Ltd

Notes to the Statement of Cash Flows

For The Year Ended 31 December 2024

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2024	2023
	£	£
Profit for the financial year	698,569	2,308,498
Adjustments for:
Tax on profit	249,759	109,054
Interest expense	246,763	480,102
Depreciation of tangible assets	2,497,804	584,981
Profit on disposal of tangible assets	-	(163,692)
Movements in working capital:
Decrease/(increase) in stocks	700,775	(1,014,460 )
Increase in trade and other debtors	(1,622,342 )	(3,372,660 )
(Decrease)/increase in trade and other creditors	(31,654 )	2,006,318

Net cash generated from operations	2,739,674	938,141

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	2,821,109	614,612
Overdraft facilities repayable on demand	(920 )	(165 )

Cash and cash equivalents as stated in the Statement of Cash Flows	2,820,189	614,447

3. Analysis of changes in net debt

	As at 1 January 2024	Cash flows	New finance leases	As at 31 December 2024
	£	£	£	£
Cash at bank and in hand	614,612	2,206,497	-	2,821,109
Overdraft facilities repayable on demand	(165)	(755)	-	(920)

Cash and cash equivalents	614,447	2,205,742	-	2,820,189
Finance leases	(2,069,099)	(5,885,836)	(2,820,187)	(10,775,122)

	(1,454,652)	(3,680,094)	(2,820,187)	(7,954,933)

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Silva Brothers Logistics Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Silva Brothers Logistics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08155505 . The registered office is Unit 28 Westwood Park Trading Estate Concord Road, Acton, London, W3 0TH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Significant judgements and estimations

There was a change in accounting estimate during the year. The directors reviewed the depreciation method applied to motor vehicles held under finance leases. The depreciation method was changed from 25% reducing balance to 20% straight line in order to better reflect the pattern of economic benefits expected to be consumed over the lease tenure of the assets. This change has been applied prospectively from this financial year-end (in accordance with FRS102).

This resulted in a reduced depreciation expense in the year of £638,731. The change is expected to result in a more consistent depreciation charge in future years, assuming little changes in the number of leased assets.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised upon satisfactory delivery of consignments. Turnover is only recognised to the extent of recoverable expenses when the outcome of a delivery cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% RB
Motor Vehicles	20% SL
Fixtures & Fittings	15% RB
Computer Equipment	15% RB

Motorcylces

25% RB

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Silva Brothers Logistics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of

Value Added Tax and trade discounts.

4. Operating Profit

The operating profit is stated after charging:

	2024	2023
	£	£
Bad debts	297,569	-
Depreciation of tangible fixed assets	2,497,804	584,981
Impairment losses - Stocks	2,322,515	-

4.1 Write- Offs

Write down related to old (>3 years) balances no longer deemed recoverable

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

No Non-audit serrvices were provided.

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	11,500	-

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Silva Brothers Logistics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	£	£
Wages and salaries	678,020	486,536
Social security costs	59,056	21,529
Other pension costs	5,267	5,518

	742,343	513,583

7. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2023: 12)

8. Director's remuneration

	2024	2023
	£	£
Emoluments	15,000	18,080
Company contributions to money purchase pension schemes	263	263

	15,263	18,343

Key management personnel were remunerated £47,213 in 2024 and £40,580 in 2023.

9. Interest Payable and Similar Charges

	2024	2023
	£	£
Factoring charges	66,534	263,197
Finance charges payable under finance leases and hire purchase contracts	145,097	148,970
Other finance charges	35,132	67,935

	246,763	480,102

10. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost or Valuation
As at 1 January 2024	73,228	4,327,652	172,278	80,490	4,653,648
Additions	375	9,068,702	26,741	6,602	9,102,420
Disposals	-	(153,205 )	-	-	(153,205 )

As at 31 December 2024	73,603	13,243,149	199,019	87,092	13,602,863

Depreciation
As at 1 January 2024	17,864	1,573,660	54,520	26,998	1,673,042
Provided during the period	8,314	2,464,007	16,819	8,664	2,497,804
Disposals	-	(75,896 )	-	-	(75,896 )

As at 31 December 2024	26,178	3,961,771	71,339	35,662	4,094,950

Net Book Value
As at 31 December 2024	47,425	9,281,378	127,680	51,430	9,507,913

As at 1 January 2024	55,364	2,753,992	117,758	53,492	2,980,606

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Silva Brothers Logistics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Stocks

	2024	2023
	£	£
Materials	437,201	159,814
Work in progress	-	978,162

	437,201	1,137,976

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.

12. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	3,013,794	2,054,473
Prepayments and accrued income	2,977,833	2,150,048
Other debtors	27,218	755,620
Rent Deposit	8,840	80,240
Van Rental Deposits	35,887	36,237
Capital on Tap Loan	-	723
Silva Brothers Investments Ltd	1,393,957	563,797
Sonovate	-	194,049

	7,457,529	5,835,187

13. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	2,659,636	853,221
Trade creditors	2,468,612	1,652,478
Bank loans and overdrafts	920	165
Corporation tax	358,813	109,054
Other taxes and social security	21,933	10,571
VAT	934,469	1,655,847
Net wages	-	137,030
Pension Contribution Creditor	3,669	1,296
Cynergy	-	3,180
SBL Couriers (Haulage)	279,581	83,823
Barclay Loan < 1 YR	91,300	-
Freeway Motorcycle	-	59,189
Nucleus < 1 YR	10,493	-
LDF FINANCE LOAN	-	16,667
Silva Brothers Savings account	(2 )	(2 )

...CONTINUED

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Silva Brothers Logistics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Capital on Tap	14,826	-
Accruals and deferred income	261,458	348,433
Director's loan account	88,566	56,647

	7,194,274	4,987,599

14. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	8,115,486	1,215,878
Daily Vehicle Rental	242,515	293,312
Barclays loan > 1 YR	8,913	29,530
Driver Deposits	285,207	223,374
Siemens Financial Services	10,463	14,921
Nucleus > 1 YR	100,441	235,875
Maximise Capital	-	8

	8,763,025	2,012,898

15. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	2,659,636	853,221
Later than one year and not later than five years	8,115,486	1,215,878

	10,775,122	2,069,099

	10,775,122	2,069,099

16. Deferred Taxation

The principal sources of potential deferred taxation relate to differences between depreciation charged in the financial statements and capital allowances claimed for tax purposes. At the balance sheet date, the directors have assessed the deferred tax position of the Company and concluded that the net deferred tax asset or liability is not material to the financial statements. Accordingly, no deferred tax asset or liability has been recognised.

17. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

18. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	283,510	342,514
Later than one year and not later than five years	186,000	336,040

	469,510	678,554

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Silva Brothers Logistics Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

19. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the income statement in respect of defined contribution schemes was £5,267 (2023: £0).

At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors.

20. Dividends

The profit for the year after taxation amounted to £698,569 (2023: £2,308,498). The Director does not recommend the payment of a final dividend for the year.

21. Post Balance Sheet Events

In March 2025, the company entered into a 12 month lease at a premisis in Middlesex. HA4.

In Juy 2025, one of the directors, Haris Attique a 5% shareholder in the company.

In December 2025, the company received the full £1,393,957 loan balance owed by Silva Brothers Investments Ltd. (Note11)

22. Related Party Disclosures

In 2024, the company received a £563,797 repayment for a loan debtor from Silva Brothers Autos Ltd, a company controlled by the same directors as Silva Brothers Logistics Ltd. There was no loan balance remaining between the two companies as of 31st December 2024. (2023: £563,797)

In 2024, the company provided an interest-free loan to Silva Brothers Investments Ltd, of £1,393,957, also controlled by the same directors as Silva Brothers Logistics Ltd. There was no loan balance between the two companies in 2023.

At the end of 2024, Silva Brothers Logistics Ltd. have a loan balance payable of £279,581 (2023: £83,823) to SBL Couriers Ltd, who share the same directors. Silva Brothers Logistics Ltd also received £433,536 from SBL Couriers Ltd for haulage services (2023: £0)

At the end of 2024, Silva Brothers Logistics Ltd. have a loan balance payable of £242,515 (2023: £293,312) to Daily Vehicle Rental Ltd. The related party is controlled by Jodelle Pereira Da Silva and his wife.

In 2024, the company paid £77,642 for services from RAF Assets Ltd., a company controlled by the wife of Haris Attique. (2023: £0)

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