REGISTERED NUMBER: 00533089 (England and Wales)

Group Strategic Report, Directors' Report and

Consolidated Financial Statements for the Year Ended 30 June 2025

for

Walker & Son (Hauliers) Limited

Page

Company Information

1

Group Strategic Report

2

Directors' Report

3

Report of the Independent Auditors

6

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

19

DIRECTORS:

Mr Richard Edward Walker

Mr Daniel Richard Edward Walker

Mr James Anthony Edward Walker

Mr Jack Charles Walker-Tully

SECRETARY:

Mr Lee John Bartrop

REGISTERED OFFICE:

Ollerton Road

Tuxford

Nottinghamshire

NG22 0PQ

REGISTERED NUMBER:

00533089 (England and Wales)

INDEPENDENT AUDITORS:

Landin Wilcock & Co

Statutory Auditor

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

Barclays Bank Plc

Leicester

Leicestershire

LE87 2BB

SOLICITORS:

Brown Jacobson LLP

Mowbray House

Castle Meadow Road

Nottingham

Nottinghamshire

NG2 1BJ

The directors present their strategic report of the company and the group for the year ended 30 June 2025.

REVIEW OF BUSINESS

The directors consider that the results for the year and financial position at the end of the year were positive,

particularly in light of the challenging economic environment, including inflation and high interest rates.

The group's key financial and other performance indicators during the year were as follows:

Unit

2025

2024

Turnover

£   's

23,975

20,503

Gross profit

£   's

8,728

9,121

Gross profit margin

%

36

44

Profit before tax

£   's

12,644

18,108

PRINCIPAL RISKS AND UNCERTAINTIES

The company has continued to successfully operate and supply customers during the challenging recent years and has seen an increase in turnover in the haulage industry reflecting ongoing recovery in demand.

The business' activities expose it primarily to the financial risks of changes in fuel prices, availability of drivers, fluctuations in the property market and the demand for electricity.

ON BEHALF OF THE BOARD:

Mr Richard Edward Walker - Director

30 March 2026

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2025.

PRINCIPAL ACTIVITIES

The principal activities of the group are that of haulage, plant hire, property development, energy production, energy storage, storage and rental.

DIVIDENDS

The following interim dividends were paid on 20 March 2025:

Share class

Share sub-class

Dividend per share

Ordinary

A

£3.40

Ordinary

B

£12.55

Ordinary

C

£11.59

Ordinary

E

£5.86

Ordinary

F

£1.95

The following interim dividends were paid on 25 April 2025:

Share class

Share sub-class

Dividend per share

Ordinary

E

£11.95

The directors recommend that no final dividend be paid. The total distribution of dividends for the year ended 30 June 2025 will be £235,600.

FUTURE DEVELOPMENTS

The group continues to invest in energy production and storage, whilst also maintaining a strong focus on its traditional revenue streams, which remain profitable. Given the group’s strong history and established reputation, we expect continued healthy profitability in the year ahead.

DIRECTORS

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

Mr Richard Edward Walker

Mr Daniel Richard Edward Walker

Mr James Anthony Edward Walker

Mr Jack Charles Walker-Tully

FINANCIAL INSTRUMENTS

The business' activities exposes it primarily to the financial risks of changes in foreign currency exchange rates, fluctuations in the property market and rising fuel costs.

The business' principal financial instruments comprise bank balances, overdrafts, trade debtors, trade creditors, loans and finance lease agreements. The main purpose of these instruments is to finance the business' operations.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. All of the business' cash balances are held in such a way that achieves a competitive rate of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debts.

Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due.

DONATIONS AND EXPENDITURE

During the year the company has made donations of £7,615 to local charities and good causes.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Landin Wilcock & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr Richard Edward Walker - Director

30 March 2026

Opinion

We have audited the financial statements of Walker & Son (Hauliers) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Directors' Report, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Directors' 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- minimal reliance was placed upon the operating effectiveness of internal controls in the design and performance of our substantive procedures;

- discussions were held with management considering known or suspected non-compliance with laws, regulations and fraud;

- journal entries were reviewed for any entries made outside the ordinary reporting processes with particular emphasis on those with unusual account combinations, entries crediting revenue and those without specific descriptions;

- management assumptions in their significant accounting estimates were challenged and scrutinised.

There are inherent limitations in the audit procedures described above, and the further removed

non-compliance with laws and regulations is from the events and transactions reflected in the financial

statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement

due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate

concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Robert Hampstead (Senior Statutory Auditor)

for and on behalf of Landin Wilcock & Co

Statutory Auditor

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

30 March 2026

TURNOVER

5

23,975,082

20,503,176

Cost of sales

(15,246,754

)

(11,381,901

)

GROSS PROFIT

8,728,328

9,121,275

Administrative expenses

(7,345,924

)

(6,840,455

)

1,382,404

2,280,820

Other operating income

11,404,710

10,571,120

Gain/loss on revaluation of investment property

-

5,760,218

OPERATING PROFIT

7

12,787,114

18,612,158

Interest receivable and similar income

30,288

66,858

12,817,402

18,679,016

Amounts written off investments

9

58,090

(310,403

)

12,875,492

18,368,613

Interest payable and similar expenses

10

(231,520

)

(261,025

)

PROFIT BEFORE TAXATION

12,643,972

18,107,588

Tax on profit

11

(3,145,174

)

(4,591,529

)

PROFIT FOR THE FINANCIAL YEAR

9,498,798

13,516,059

Profit attributable to:

Owners of the parent

9,498,798

13,516,059

PROFIT FOR THE YEAR

9,498,798

13,516,059

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

9,498,798

13,516,059

Total comprehensive income attributable to:

Owners of the parent

9,498,798

13,516,059

FIXED ASSETS

Intangible assets

14

1,133,500

1,250,008

Tangible assets

15

44,557,594

44,750,181

Investments

16

-

-

Investment property

17

75,320,965

78,053,310

121,012,059

124,053,499

CURRENT ASSETS

Stocks

18

16,664,931

11,060,922

Debtors

19

11,302,593

9,219,956

Investments

20

1,034,569

1,243,087

Cash at bank and in hand

4,201,201

3,570,471

33,203,294

25,094,436

CREDITORS

Amounts falling due within one year

21

(10,169,334

)

(14,069,795

)

NET CURRENT ASSETS

23,033,960

11,024,641

TOTAL ASSETS LESS CURRENT LIABILITIES

144,046,019

135,078,140

CREDITORS

Amounts falling due after more than one year

22

-

(516,140

)

PROVISIONS FOR LIABILITIES

26

(15,826,534

)

(15,605,713

)

NET ASSETS

128,219,485

118,956,287

CAPITAL AND RESERVES

Called up share capital

27

44,898

44,898

Share premium

28

1,249,576

1,249,576

Capital redemption reserve

28

13,852

13,852

Retained earnings

28

126,911,159

117,647,961

SHAREHOLDERS' FUNDS

128,219,485

118,956,287

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2026 and were signed on its behalf by:

Mr Richard Edward Walker - Director

FIXED ASSETS

Intangible assets

14

1,133,500

1,250,008

Tangible assets

15

39,373,352

39,371,407

Investments

16

605

605

Investment property

17

71,800,966

74,533,311

112,308,423

115,155,331

CURRENT ASSETS

Stocks

18

16,664,931

11,060,922

Debtors

19

17,583,168

13,930,594

Investments

20

1,034,569

1,243,087

Cash at bank and in hand

4,095,881

3,133,919

39,378,549

29,368,522

CREDITORS

Amounts falling due within one year

21

(9,659,338

)

(11,322,591

)

NET CURRENT ASSETS

29,719,211

18,045,931

TOTAL ASSETS LESS CURRENT LIABILITIES

142,027,634

133,201,262

CREDITORS

Amounts falling due after more than one year

22

-

(516,140

)

PROVISIONS FOR LIABILITIES

26

(14,952,827

)

(14,763,339

)

NET ASSETS

127,074,807

117,921,783

CAPITAL AND RESERVES

Called up share capital

27

44,898

44,898

Share premium

28

1,249,576

1,249,576

Capital redemption reserve

28

13,852

13,852

Retained earnings

28

125,766,481

116,613,457

SHAREHOLDERS' FUNDS

127,074,807

117,921,783

Company's profit for the financial year

9,388,629

14,131,979

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2026 and were signed on its behalf by:

Mr Richard Edward Walker - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 July 2023

44,898

104,320,502

1,249,576

13,852

105,628,828

Changes in equity

Dividends

-

(188,600

)

-

-

(188,600

)

Total comprehensive income

-

13,516,059

-

-

13,516,059

Balance at 30 June 2024

44,898

117,647,961

1,249,576

13,852

118,956,287

Changes in equity

Dividends

-

(235,600

)

-

-

(235,600

)

Total comprehensive income

-

9,498,798

-

-

9,498,798

Balance at 30 June 2025

44,898

126,911,159

1,249,576

13,852

128,219,485

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 July 2023

44,898

102,670,078

1,249,576

13,852

103,978,404

Changes in equity

Dividends

-

(188,600

)

-

-

(188,600

)

Total comprehensive income

-

14,131,979

-

-

14,131,979

Balance at 30 June 2024

44,898

116,613,457

1,249,576

13,852

117,921,783

Changes in equity

Dividends

-

(235,600

)

-

-

(235,600

)

Total comprehensive income

-

9,388,629

-

-

9,388,629

Balance at 30 June 2025

44,898

125,766,486

1,249,576

13,852

127,074,812

Cash flows from operating activities

Cash generated from operations

1

5,394,593

8,696,437

Interest paid

(231,520

)

(261,025

)

Tax paid

(3,153,711

)

(610,133

)

Net cash from operating activities

2,009,362

7,825,279

Cash flows from investing activities

Purchase of tangible fixed assets

(3,916,863

)

(1,944,647

)

Purchase of investment property

(2,026,380

)

(10,123,251

)

Sale of tangible fixed assets

1,689,341

874,636

Sale of investment property

4,758,725

3,100,000

Purchase of current asset investments

(250,000

)

-

Sale of current asset investments

516,609

-

Interest received

30,288

16,843

Net cash from investing activities

801,720

(8,076,419

)

Cash flows from financing activities

New loans in year

-

5,030,000

Loan repayments in year

(1,944,752

)

(3,085,248

)

Equity dividends paid

(235,600

)

(188,600

)

Net cash from financing activities

(2,180,352

)

1,756,152

Increase in cash and cash equivalents

630,730

1,505,012

Cash and cash equivalents at beginning of year

2

3,570,471

2,065,459

Cash and cash equivalents at end of year

2

4,201,201

3,570,471