Woody's Express Parcels Limited

	Page
Company Information	1
Strategic Report	2
Director's Report	3—4
Independent Auditor's Report	5—8
Profit and Loss Account	9
Statement of Comprehensive Income	10
Balance Sheet	11
Statement of Changes in Equity	12
Statement of Cash Flows	13
Notes to the Statement of Cash Flows	14
Notes to the Financial Statements	15—22

Page 1

Page 2

Strategic Report

For The Year Ended 31 July 2025

Strategic Report

The director presents his strategic report for the year ended 31 July 2025.

Review of the Business

2024/2025 was a strong year for Woodys Express Parcels, marked by growth in all areas of the business, especially the pallet division. The growth was achieved through new contracts going live in early 2025 along with mergering with another local haulier who left the Highlands and Islands area. We achieved higher revenue and a good level of profitability, thanks to our team’s commitment to delivering quality service in everything we have to offer.

Principal Risks and Uncertainties

Running a haulage business comes with a unique set of risks and uncertainties that can impact operations, profitability, and long-term sustainability:

Operational Risks

- Vehicle breakdowns or accidents: Can lead to delays, reputational damage, and increased insurance premiums.

- Driver shortages or turnover: Recruiting and retaining qualified drivers is a persistent challenge.

- Fuel price volatility: Sudden increases in fuel costs can erode profit margins.

- Compliance with regulations: Changes in transport laws, emissions standards, or working time directives can require costly adjustments.

Financial Risks

- Cash flow constraints: Late payments from clients or high upfront costs (e.g. vehicle maintenance) can strain liquidity.

- Ferry rises and the difficulty in passing on the costs

- Insurance costs: Rising premiums or claims can significantly impact profitability.

- Interest rate changes: If the business relies on financing for vehicles or infrastructure, rate hikes can increase debt servicing costs.

External & Market Risks

- Economic downturns: Reduced demand for goods can lead to fewer transport contracts.

- Competition: Pressure from larger logistics firms or low-cost operators can squeeze margins.

- Client dependency: Overreliance on a few major customers poses a risk if contracts are lost or scaled back

Environmental & Geopolitical Risks

- Extreme weather events: Floods, snowstorms, or heatwaves can disrupt routes and schedules.

- Geopolitical instability: Border delays, trade restrictions, or fuel supply issues can affect international haulage.

- Sustainability pressures: Increasing demand for low-emission vehicles and carbon reporting may require investment in greener fleets.

Technological Risks

- Cybersecurity threats: Fleet management systems and customer data are vulnerable to breaches.

- System failures: GPS, routing software, or logistics platforms going down can halt operations.

- Automation disruption: Long-term uncertainty around autonomous vehicles and AI-driven logistics.

On behalf of the board

Mr David Wood

Director

19/11/2025

Page 2

Page 3

Woody's Express Parcels Limited

Company No. SC136012

Director's Report For The Year Ended 31 July 2025

Director's Report

The director presents his report and the financial statements for the year ended 31 July 2025.

Principal Activity

The company's principal activity continues to be that of carrying out haulage and courier services throughout the whole of the UK.

Future Developments

Strategic Vision

The company aims to position itself as a leading regional logistics provider, known for reliability, sustainability, and technological innovation. Future development will focus on expanding service capacity, improving operational efficiency, and enhancing customer experience.

Operational Expansion

- Fleet Growth: May look to invest in additional vehicles, including low-emission or electric HGVs, to meet growing demand and align with environmental targets.

- Depot Infrastructure: Evaluation of new depot locations to improve route coverage and reduce empty mileage.

- Driver Development: Enhanced recruitment and training programs to address industry-wide driver shortages and improve retention.

Technology & Innovation

- Telematics & Fleet Management: Upgrading tracking systems for real-time route optimisation, fuel efficiency monitoring, and predictive maintenance.

- Customer Portal: Continued development of the Woody's portal (version 3) which allows all customers to book, track, and manage deliveries seamlessly.

- Automation & AI: Exploring automation in scheduling, load planning, and document processing to reduce admin overhead.

Sustainability Initiatives

- Carbon Reduction Strategy: Commitment to reducing emissions through fleet electrification, route optimization, and offset programs.

- Eco Partnerships: Collaborating with clients and suppliers to promote greener logistics solutions.

- Compliance Readiness: Preparing for future regulatory changes around emissions, clean air zones, and ESG reporting.

Service Diversification

- Specialist Haulage: Expansion into niche markets such as refrigerated transport, hazardous goods, or oversized loads.

- Contract Logistics: Offering end-to-end logistics solutions including warehousing, inventory management, and last-mile delivery.

- Cross-border Services: Strengthening international haulage capabilities, particularly post-Brexit compliance and customs handling.

Financial & Risk Management

- Investment Planning: Strategic capital allocation for fleet upgrades, tech adoption, and infrastructure development.

- Risk Mitigation: Ongoing review of insurance coverage, cyber security protocols, and contingency planning for fuel price volatility and economic shifts.

- Performance Monitoring: Implementation of KPIs across departments to track efficiency, profitability, and service quality.

Dividends

The value of dividends paid amounted to £90,000 .

The director recommended a final dividend of £NIL .

Directors

The director who held office during the year were as follows:

Mr David Wood

Acknowledgements

I would like to thank the entire team at Woody's Express Parcels Limited for their hard work, dedication, and professionalism. Their efforts have been key to our success and continued growth. With a clear strategy, a strong customer following, and a talented workforce, we are well-positioned for the year ahead.

Page 3

Page 4

Woody's Express Parcels Limited

Director's Report (continued)

For The Year Ended 31 July 2025

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:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, A9 Accountancy Limited, 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 David Wood

Director

19/11/2025

Page 4

Page 5

Independent Auditor's Report

to the Members of

Woody's Express Parcels Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Woody's Express Parcels Limited for the year ended 31 July 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 July 2025 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 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 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. 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 course of 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 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.

Page 5

Page 6

Independent Auditor's Report (continued)

to the Members of

Woody's Express Parcels Limited

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 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 director's 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 director’s responsibilities statement, 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 determines 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.

Page 6

Page 7

Independent Auditor's Report (continued)

to the Members of

Woody's Express Parcels Limited

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 auditor's 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.

Extent to which our procedures are capable of detecting irregularities, including fraud

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, 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 most relevant frameworks we identified include:

United Kingdom Generally Accepted Accounting Practice

Companies Act 2006

Corporation Tax legislation

VAT legislation

Health and safety

We gained an understanding of how the company is complying with these laws and regulations by making enquiries of management. We corroborated these enquiries through our review of external inspections and relevant correspondence with regulatory bodies.

We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur, by meeting with management to understand where it was considered there was susceptibility to fraud. This evaluation also considered how management were remunerated and whether this provided an incentive for fraudulent activity. We considered the overall control environment and how management oversee the implementation and operation of controls. In areas of the financial statements where the risks were considered to be higher, we performed procedures to address each identified risk.

The following procedures were performed to provide reasonable assurance that the financial statements were free of material fraud or error:

Reviewing the level of and reasoning behind the company’s procurement of legal and professional services;

Performing audit work procedures over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing judgements made by management in their calculation of accounting estimates for potential management bias.

Procedures to confirm the existence and completeness of revenue ensuring recognised in line with the company’s accounting policies.

Enquiries with management regarding the compliance with laws and regulations, including health and safety requirements, including health and safety requirements.

Our audit procedures were designed to respond to the risk of material misstatements in the financial statements, recognising that the risk of not detecting a material risk due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation. There are inherent limitations in the audit procedures performed and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Page 7

Page 8

Independent Auditor's Report (continued)

to the Members of

Woody's Express Parcels Limited

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.

Hollie Mackay-Bungaroo BSc CA (Senior Statutory Auditor)

for and on behalf of A9 Accountancy Limited , Statutory Auditor

19/11/2025

A9 Accountancy Limited

Elm House

Cradlehall Business Park

Inverness

IV2 5GH

Page 8

Page 9

Woody's Express Parcels Limited

Profit and Loss Account

For The Year Ended 31 July 2025

Profit and Loss Account

		2025	2024 as restated
	Notes	£	£
TURNOVER	3	11,693,747	8,647,036
Cost of sales		(9,180,103 )	(6,954,081 )

GROSS PROFIT		2,513,644	1,692,955

Administrative expenses		(1,411,289 )	(1,236,789 )
Other operating income		5,058	5,000

OPERATING PROFIT	5	1,107,413	461,166
Profit/(loss) on disposal of fixed assets		18,246	(10,798 )
Other interest receivable and similar income	10	20,903	19,522
Interest payable and similar charges	11	(16,022 )	(33,029 )

PROFIT BEFORE TAXATION		1,130,540	436,861
Tax on Profit	12	(352,105 )	(94,476 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		778,435	342,385

The notes on pages 14 to 22 form part of these financial statements.

Page 9

Page 10

Woody's Express Parcels Limited

Statement of Comprehensive Income

For The Year Ended 31 July 2025

Statement of Comprehensive Income

	2025	2024 as restated
	£	£
PROFIT FOR THE FINANCIAL YEAR	778,435	342,385
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	778,435	342,385

Page 10

Page 11

Woody's Express Parcels Limited

Balance Sheet

As At 31 July 2025

Balance Sheet

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	13		204,623		306,934
Tangible Assets	14		2,196,552		1,790,028

			2,401,175		2,096,962
CURRENT ASSETS
Debtors	15	2,694,034		2,034,606
Cash at bank and in hand		2,531,402		1,843,609

		5,225,436		3,878,215
Creditors: Amounts Falling Due Within One Year	16	(1,680,342 )		(945,035 )

NET CURRENT ASSETS (LIABILITIES)			3,545,094		2,933,180

TOTAL ASSETS LESS CURRENT LIABILITIES			5,946,269		5,030,142

Creditors: Amounts Falling Due After More Than One Year	17		(506,660 )		(422,932 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	19		(484,855 )		(340,891 )

NET ASSETS			4,954,754		4,266,319

CAPITAL AND RESERVES
Called up share capital	21		2		2
Profit and Loss Account			4,954,752		4,266,317

SHAREHOLDERS' FUNDS			4,954,754		4,266,319

On behalf of the board

Mr David Wood

Director

19/11/2025

The notes on pages 14 to 22 form part of these financial statements.

Page 11

Page 12

Woody's Express Parcels Limited

Statement of Changes in Equity

For The Year Ended 31 July 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 August 2023	2	3,973,932	3,973,934
Profit for the year and total comprehensive income	-	342,385	342,385

Dividends paid	-	(50,000)	(50,000)

As at 31 July 2024 and 1 August 2024 as restated	2	4,266,317	4,266,319


Profit for the year and total comprehensive income	-	778,435	778,435

Dividends paid	-	(90,000)	(90,000)

As at 31 July 2025	2	4,954,752	4,954,754

Page 12

Page 13

Woody's Express Parcels Limited

Statement of Cash Flows

For The Year Ended 31 July 2025

Statement of Cash Flows

		2025	2024 as restated
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,265,460	966,796
Interest paid		(16,022 )	(33,029 )
Tax paid		(7,984 )	-

Net cash generated from operating activities		1,241,454	933,767

Cash flows from investing activities
Purchase of tangible assets		(971,653 )	(831,869 )
Proceeds from disposal of tangible assets		96,500	66,206
Interest received		20,903	19,522

Net cash used in investing activities		(854,250 )	(746,141 )

Cash flows from financing activities
Equity dividends paid		(90,000 )	(50,000 )
Repayment of finance leases		410,482	446,922
Amount introduced by directors		-	19,602
Amount withdrawn by directors		(19,893)	-

Net cash generated from financing activities		300,589	416,524



Increase in cash and cash equivalents		687,793	604,150
Cash and cash equivalents at beginning of year	2	1,843,609	1,239,459

Cash and cash equivalents at end of year	2	2,531,402	1,843,609

Page 13

Page 14

Woody's Express Parcels Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 July 2025

Notes to the Statement of Cash Flows

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

	2025	2024 as restated
	£	£
Profit for the financial year	778,435	342,385
Adjustments for:
Tax on profit	352,105	94,476
Interest expense	16,022	33,029
Interest income	(20,903 )	(19,522 )
Amortisation of intangible assets	102,311	102,311
Depreciation of tangible assets	486,875	419,918
(Profit)/loss on disposal of tangible assets	(18,246)	10,798
Movements in working capital:
Increase in trade and other debtors	(659,428 )	(44,389 )
Increase in trade and other creditors	228,289	27,790

Net cash generated from operations	1,265,460	966,796

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:

	2025	2024 as restated
	£	£
Cash at bank and in hand	2,531,402	1,843,609

3. Analysis of changes in net funds

	As at 1 August 2024	Cash flows	As at 31 July 2025
	£	£	£
Cash at bank and in hand	1,843,609	687,793	2,531,402
Finance leases	(596,224)	(410,482)	(1,006,706)

	1,247,385	277,311	1,524,696

Page 14

Page 15

Woody's Express Parcels Limited

Notes to the Financial Statements

For The Year Ended 31 July 2025

Notes to the Financial Statements

1. General Information

Woodys Express Parcels Limited is a private company, limited by shares, incorporated in Scotland, registered number SC136012 . The registered office is Rigs Road Industrial Estate, Stornoway, Isle of Lewis, HS1 2RF.

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. 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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

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:

Freehold	2% Straight Line
Plant & Machinery	15% Straight Line
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	15% Reducing Balance
Computer Equipment	30% Straight Line

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 profit and loss account 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 profit and loss account 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.

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.

...CONTINUED

Page 15

Page 16

Woody's Express Parcels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.7. Taxation - continued

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.

2.8. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024 as restated
	£	£
Distribution Services	11,685,590	8,647,036
Other Income	8,157	5,000

	11,693,747	8,652,036

4. Other Operating Income

	2025	2024 as restated
	£	£
Rental income	5,058	5,000

	5,058	5,000

5. Operating Profit

The operating profit is stated after charging:

	2025	2024 as restated
	£	£
Bad debts	-	10,984
Depreciation of tangible fixed assets	486,875	419,918
Amortisation of intangible fixed assets	102,311	102,311

Page 16

Page 17

Woody's Express Parcels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

6. Auditor's Remuneration

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

	2025	2024 as restated
	£	£
Audit Services
Audit of the company's financial statements	22,990	-


Other Services
Taxation compliance service	2,336	-

7. Staff Costs

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

	2025	2024 as restated
	£	£
Wages and salaries	3,992,141	3,080,033
Social security costs	411,260	301,249
Other pension costs	81,978	68,461

	4,485,379	3,449,743

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	22	20
Drivers	70	59
Warehouse Operatives	25	20

	117	99

9. Director's remuneration

	2025	2024 as restated
	£	£
Emoluments	12,000	12,000

10. Interest Receivable and Similar Income

	2025	2024 as restated
	£	£
Bank interest receivable	20,903	19,522

Page 17

Page 18

Woody's Express Parcels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

11. Interest Payable and Similar Charges

	2025	2024 as restated
	£	£
Finance charges payable under finance leases and hire purchase contracts	16,022	33,029

12. Tax on Profit

	Tax Rate		2025	2024 as restated
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	208,141	7,576
Deferred Tax
Deferred taxation			143,964	86,900


Total tax charge for the period			352,105	94,476


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			1,130,540	436,861

Tax on profit at 25% (UK standard rate)			282,635	109,215
Goodwill/depreciation not allowed for tax			147,297	130,557
Expenses not deductible for tax purposes			6,249	9,891
Tax losses utilised			-	(45,155 )
Capital allowances			(228,040 )	(196,932 )
Short term timing differences			143,964	86,900

Total tax charge for the period			352,105	94,476

13. Intangible Assets

	Goodwill
	£
Cost
As at 1 August 2024	511,556

As at 31 July 2025	511,556

Amortisation
As at 1 August 2024	204,622
Provided during the period	102,311

As at 31 July 2025	306,933

Net Book Value
As at 31 July 2025	204,623

As at 1 August 2024	306,934

Page 18

Page 19

Woody's Express Parcels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

14. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 August 2024	297,924	76,257	2,338,068	54,845
Additions	-	98,518	821,349	-
Disposals	-	-	(200,415 )	-

As at 31 July 2025	297,924	174,775	2,959,002	54,845

Depreciation
As at 1 August 2024	36,607	36,018	920,191	15,090
Provided during the period	5,958	14,979	436,953	6,192
Disposals	-	-	(122,161 )	-

As at 31 July 2025	42,565	50,997	1,234,983	21,282

Net Book Value
As at 31 July 2025	255,359	123,778	1,724,019	33,563

As at 1 August 2024	261,317	40,239	1,417,877	39,755


	Computer Equipment	Total
	£	£
Cost
As at 1 August 2024	173,242	2,940,336
Additions	51,786	971,653
Disposals	-	(200,415 )

As at 31 July 2025	225,028	3,711,574

Depreciation
As at 1 August 2024	142,402	1,150,308
Provided during the period	22,793	486,875
Disposals	-	(122,161 )

As at 31 July 2025	165,195	1,515,022

Net Book Value
As at 31 July 2025	59,833	2,196,552

As at 1 August 2024	30,840	1,790,028

Page 19

Page 20

Woody's Express Parcels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

15. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	1,998,516	1,346,597
Other debtors	695,518	608,009

	2,694,034	1,954,606
Due after more than one year
Other debtors	-	80,000

	2,694,034	2,034,606

16. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	500,046	273,292
Trade creditors	457,488	300,525
Other creditors	222,497	137,813
Corporation tax	207,733	7,576
Taxation and social security	169,518	160,735
Accruals and deferred income	123,060	65,094

	1,680,342	945,035

Obligations under hire purchase contracts are secured over the related assets.

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

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	506,660	322,932
Other creditors	-	100,000

	506,660	422,932

Obligations under hire purchase contracts are secured over the related assets.

18. Obligations Under Finance Leases and Hire Purchase

	2025	2024 as restated
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	500,046	273,292
Later than one year and not later than five years	506,660	322,932

	1,006,706	596,224

	1,006,706	596,224

Page 20

Page 21

Woody's Express Parcels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

19. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024 as restated
	£	£
Other timing differences	484,855	340,891

20. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 August 2024	340,891	340,891
Additions	143,964	143,964

Balance at 31 July 2025	484,855	484,855

21. Share Capital

	2025	2024 as restated
Allotted, called up and fully paid	£	£
2 Ordinary Shares of £ 1.00 each	2	2

22. Other Commitments

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

	2025	2024 as restated
	£	£
Not later than one year	752,001	595,000
Later than one year and not later than five years	898,433	775,000

	1,650,434	1,370,000

23. 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 profit and loss account in respect of defined contribution schemes was £81,978 (2024 - £68,461)

At the balance sheet date contributions of £392 (2024: £0) were due to the fund and are included in creditors.

24. Dividends

	2025	2024 as restated
	£	£
On equity shares:
Final dividend paid	90,000	50,000

Page 21

Page 22

Woody's Express Parcels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

25. Related Party Disclosures

As at the year end the company owed the director £8,942 (2024 - £9,233). This balance is unsecured, interest free and has no fixed terms of repayment.

A partnership in which the directors are partners of owe £374,611 to the company. There is a loan agreement in place to repay this over 15 years with repayments starting within financial year ended 31 July 2026. This loan is unsecured and interest free.

26. Reclassification of Comparative Information

During the current financial year, the company reviewed the presentation of certain expenses within the profit and loss account. As a result of this review, certain costs previously classified within administrative expenses have been reclassified as cost of sales to provide a more appropriate analysis of the company’s operating activities.

The reclassification has no impact on turnover, operating profit, profit for the financial year, net assets or equity, but affects the presentation of functional expense categories.

Comparative figures for the year ended 31 July 2024 have been restated accordingly to ensure consistency of presentation between periods.

The effect of the reclassification on the prior year’s profit and loss account is summarised below:

	As previously reported	Reclassification	As restated
Cost of Sales	£3,516,338	+£3,437,743	£6,954,081
Administrative expenses	£4,674,532	-£3,437,743	£1,236,789
Gross Profit	£5,130,698		£1,692,955

Page 22

Director	Mr David Wood

Secretary	Mrs Donna Wood

Company Number	SC136012

Registered Office	Rigs Road Industrial Estate
	Stornoway
	Isle of Lewis
	HS1 2RF

Accountants	Leitch Accountancy Services Limited
	ACCA
	3 Beech Avenue
	Inverness
	IV2 4NN

Auditors	A9 Accountancy Limited
	Elm House
	Cradlehall Business Park
	Inverness
	IV2 5GH