ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 00277871

ALAN HADLEY LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

ALAN HADLEY LIMITED

COMPANY INFORMATION

Directors	P R Fenton
	A J Harper
	P Lock
	D Perrin
	M R P Fenton
	C Rayns (appointed 1 January 2025)


Company secretary	M R P Fenton


Registered number	00277871


Registered office	Unit 1 Kennet Weir Business Park
	Arrowhead Road
	Theale
	Reading
	Berkshire
	RG7 4AE


Independent auditors	James Cowper Kreston Audit
	Chartered Accountants and Statutory Auditors
	Apex
	Forbury Road
	Reading
	Berkshire
	RG1 1AX

ALAN HADLEY LIMITED

CONTENTS

	Page
Directors' Report	1 - 2
Independent Auditors' Report	3 - 5
Statement of Comprehensive Income	6
Balance Sheet	7
Statement of Changes in Equity	8
Notes to the Financial Statements	9 - 19

ALAN HADLEY LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

The directors present their report and the financial statements for the year ended 30 September 2025.

Directors

The directors who served during the year were:

P R Fenton

A J Harper

P Lock

D Perrin

M R P Fenton

C Rayns (appointed 1 January 2025)

Directors' responsibilities statement

The directors are responsible for preparing 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

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

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

Prior year adjustment

With continued significant investment in Alan Hadley Ltd, totalling £2,673,043 over the past three years, the Company’s Deferred Tax position has increased to a level that now requires recognition and disclosure within the Financial Statements.

As a result, the Company has elected to restate the financial statements of the preceding years in order to reflect the deferred tax charge attributable to each period, as detailed in the following pages.

This restatement has resulted in a reduction in retained earnings of £293,580 in 2025, £123,037 in 2024, and £139,541 in 2023 and prior periods.

The deferred tax balance does not represent a currently payable tax liability. It will reverse over time as the tax base of the Company’s assets gradually aligns with their carrying values in the financial statements.

Page 1

ALAN HADLEY LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditors, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

M R P Fenton

Secretary

Date: 9 March 2026

Page 2

ALAN HADLEY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALAN HADLEY LIMITED

Opinion

We have audited the financial statements of Alan Hadley Limited (the 'Company') for the year ended 30 September 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 30 September 2025 and of its 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 ofour report. We are independent of the Company in accordance with the ethical requirements that are relevant toour audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 forour opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the Annual Report other than the financial statements andour Auditors' Report thereon. The directors are 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.

Page 3

ALAN HADLEY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALAN HADLEY LIMITED (CONTINUED)

Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has 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 Directors' 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, inour opinion:

∙adequate accounting records have not been kept, or returns adequate forour audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

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

∙we have not received all the information and explanations we require forour audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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 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 directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 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.

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.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Page 4

ALAN HADLEY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ALAN HADLEY LIMITED (CONTINUED)

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

∙Enquiry of management and those charged with governance around actual and potential litigation and claims;

∙Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

∙Performing audit work to address the risk of irregularities due to 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 accounting estimates for evidence of bias.

A further description ofour 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 ofour Auditors' Report.

Use of 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 an Auditors' 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 audit work, for this report, or for the opinions we have formed.

Alexander Peal BSc (Hons) FCA DChA (Senior Statutory Auditor)

for and on behalf of

James Cowper Kreston Audit

Chartered Accountants and Statutory Auditors

Apex

Forbury Road

Reading

Berkshire

RG1 1AX

Date: 9 March 2026

Page 5

ALAN HADLEY LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 SEPTEMBER 2025

		As restated
	2025	2024
Note	£	£


Turnover		6,329,689	6,176,454
Cost of sales		(5,132,376)	(4,990,074)
Gross profit		1,197,313	1,186,380
Administrative expenses		(1,072,519)	(1,052,532)
Operating profit	3	124,794	133,848
Interest payable and similar expenses	5	(118,880)	(114,695)
Profit before tax		5,914	19,153
Deferred tax	6	(293,580)	(123,037)
Loss for the financial year		(287,666)	(103,884)

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 9 to 19 form part of these financial statements.

Page 6

ALAN HADLEY LIMITED

REGISTERED NUMBER: 00277871

BALANCE SHEET

AS AT 30 SEPTEMBER 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Tangible assets	7		2,687,655		1,803,865
Current assets
Debtors: amounts falling due within one year	8	904,068		888,649
Cash at bank and in hand	9	100		100
		904,168		888,749
Creditors: amounts falling due within one year	10	(2,730,986)		(2,363,722)
Net current liabilities			(1,826,818)		(1,474,973)
Total assets less current liabilities			860,837		328,892
Creditors: amounts falling due after more than one year	11		(1,211,707)		(685,676)
Provisions for liabilities
Deferred tax	13		(556,158)		(262,578)
Other provisions	14		(226,410)		(226,410)
Net liabilities			(1,133,438)		(845,772)

Capital and reserves
Called up share capital	15	178,688	178,688
Profit and loss account		(1,312,126)	(1,024,460)
		(1,133,438)	(845,772)

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D Perrin

Director

Date: 9 March 2026

The notes on pages 9 to 19 form part of these financial statements.

Page 7

ALAN HADLEY LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 October 2024 (as previously stated)	178,688	(761,882)	(583,194)
Prior year adjustment	-	(262,578)	(262,578)
At 1 October 2024 (as restated)	178,688	(1,024,460)	(845,772)

Loss for the year	-	(287,666)	(287,666)
At 30 September 2025	178,688	(1,312,126)	(1,133,438)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 October 2023 (as previously stated)	178,688	(781,035)	(602,347)
Prior year adjustment	-	(139,541)	(139,541)
At 1 October 2023 (as restated)	178,688	(920,576)	(741,888)

Loss for the year	-	(103,884)	(103,884)
At 30 September 2024	178,688	(1,024,460)	(845,772)

The notes on pages 9 to 19 form part of these financial statements.

Page 8

ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1.	General information

Alan Hadley Limited is a private company, limited by shares, incorporated in England and Wales (registration number 00277871). The address of its registered office is Unit 1 Kennet Weir Business Park, Arrowhead Road, Theale, Reading, Berkshire, RG7 4AE.

The principal activity of the company during the year was in the area of waste recycling, landfill and associated activities and road haulage.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Claude Fenton (Holdings) Limited as at 30 September 2025 and these financial statements may be obtained from Claude Fenton (Holdings) Limited.

2.3

Going concern

As at 30 September 2025 the company had net liabilities of £1,133,438 (2024: £845,772). Nonetheless the directors believe that it is appropriate to prepare the financial statements on a going concern basis because of the facilities available to and the support provided by the group.

2.4

Turnover

Turnover represents amounts receivable from goods and services provided during the year, exclusive of value added tax and trade discounts, and inclusive of landfill tax.

Turnover from short term hire is recognised on a straight line basis over the term of the hire agreement. All other income is recognised following delivery of goods or services to the customer.

Page 9

ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Defined benefit pension plan

The parent company provides a defined benefit pension scheme, the assets of which are held separately from those of the company in an independently administered fund. For subsidiary companies in the group, contributions to this scheme are charged to the profit and loss account as they become payable in accordance with FRS102 section 28 as though it was a defined contribution scheme. The assets and liabilities of this scheme are recognised in the parent company financial statements.

Page 10

ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either reducing balance or straight line basis.

Depreciation is provided on the following basis:

Long-term leasehold property	-	over three years or the period of the lease
Plant and machinery	-	14% - 50% on a straight line basis
Motor vehicles	-	12.5% - 50% on a straight line basis
Other fixed assets	-	see below

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Where appropriate, the discounted costs of landfill site restoration are capitalised under other assets and written off over the operational life of each site based on the amount of void space consumed. The carrying values of tangible and intangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Page 11

ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

Page 12

ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.15

Financial instruments (continued)

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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

2.16

Restoration costs

Full provision is made for the net present value (NPV) of the company's anticipated costs in relation to restoration liabilities at its landfill sites, at the inception of the lease of the site where appropriate. This value is capitalised as a fixed asset.

The restoration provision is calculated by discounting the anticipated future costs at a rate of 3% to arrive at the net present value until such time as the provision is equal to the company's estimates of its current obligations. Any movement in the net present value each year represents the unwinding of the discount provision which is charged to the profit and loss account if applicable.

In other cases, where appropriate, the restoration provisions include the company's estimates for future costs based on its current obligations at the balance sheet date.

Page 13

ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Depreciation on tangible fixed assets	650,254	619,779
Operating lease and hire purchase payments	612,378	474,076
Profit on disposal of fixed assets	(163,697)	(188,269)
Pension costs	56,202	70,087

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Production	36	39
Management	5	5

	41	44

5.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	66,486	73,932
Other loan interest payable	13,617	5,662
Finance leases and hire purchase contracts	38,777	35,101
	118,880	114,695

Deferred tax
Origination and reversal of timing differences	293,580	123,037
Total deferred tax	293,580	123,037


	Deferred tax	293,580	123,037

Page 14

ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

6.Taxation (continued)

	Factors that may affect future tax charges
	There were no factors that may affect future tax charges.

7.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Motor vehicles	Other fixed assets	Total
	£	£	£	£	£
Cost or valuation
At 1 October 2024	22,421	3,705,447	1,772,009	330,000	5,829,877
Additions	-	1,122,202	411,855	-	1,534,057
Disposals	-	(420,077)	(313,435)	-	(733,512)
At 30 September 2025	22,421	4,407,572	1,870,429	330,000	6,630,422
Depreciation
At 1 October 2024	654	2,764,042	931,316	330,000	4,026,012
Charge for the year	1,121	431,343	217,790	-	650,254
Disposals	-	(420,069)	(313,430)	-	(733,499)
At 30 September 2025	1,775	2,775,316	835,676	330,000	3,942,767
Net book value
At 30 September 2025	20,646	1,632,256	1,034,753	-	2,687,655
At 30 September 2024	21,767	941,405	840,693	-	1,803,865

Other assets represent the net present value of anticipated restoration costs of landfill sites operated by the company.

Plant and machinery with a carrying value of £1,620,024 (2024: £538,216) and motor vehicles with a carrying value of £1,031,136 (2024: £593,937) are held under hire purchase agreements. The depreciation charged for the year on leased assets amounted to £32,810 (2024: £150,530).

Page 15

ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	764,853	726,471
Amounts owed by group undertakings	9,371	6,430
Prepayments and accrued income	129,844	155,748
	904,068	888,649

9.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	100	100
Less: bank overdrafts	(1,217,847)	(1,010,417)
	(1,217,747)	(1,010,317)

10.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	1,217,847	1,010,417
Trade creditors	467,020	471,158
Amounts owed to group undertakings	177,719	184,047
Other taxation and social security	210,859	156,608
Obligations under finance lease and hire purchase contracts	622,458	489,901
Accruals and deferred income	35,083	51,591
	2,730,986	2,363,722

11.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	957,707	431,676
Amounts owed to group undertakings	254,000	254,000
	1,211,707	685,676

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ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Within one year	622,458	489,901
Between 2-5 years	957,707	431,676
	1,580,165	921,577

13.	Deferred taxation

		2025
		£

	At beginning of year	(262,578)
	Charged to profit or loss	(293,580)
	At end of year	(556,158)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances

(556,158)

(262,578)

14.	Provisions

		Restoration Provision
		£

	At 1 October 2024	226,410
	At 30 September 2025	226,410

The provisions relate to an estimate by the directors, based on void space consumed and other factors, for re-instatement of land after tipping amounting to £226,410 (2024: £226,410), the performance of which has been guaranteed by the parent undertaking. No additional provision has been made in respect of tipping obligations during the year apart from the unwinding discount where required.

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ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

15.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

178,688 (2024 - 178,688) Ordinary shares of £1.00 each	178,688	178,688

16.	Prior year adjustment

17.	Pension commitments

The entity is part of a group defined benefit pension scheme to which it makes annual contributions. In addition, the company makes contributions to a defined contribution pension scheme. Total contributions for the year total £56,202 (2024: £70,087). The full disclosure has been included in the financial statements of Claude Fenton (Holdings) Limited.

18.Other financial commitments

As at 30 September 2025, there exists contingent liabilities and guarantees in respect of the following:

a) a composite unlimited guarantee and right of set off on all group bank overdrafts which amounted to £1,217,847 (2024 - £1,010,417).

b) a composite guarantee and right of set off on all group bank loans which amounted to £2,100,000 (2024 - £600,000).

c) a guarantee for value added tax due by all group undertakings under the group election amounting to £291,000 (2024 - £278,230).

d) The directors are of the opinion that adequate provision has been made within these financial statements to meet the company's obligations for the eventual cost of restoration to reinstate land after tipping.

In respect of (a) and (b) above the company's bankers hold a mortgage debenture creating a specific charge over all company assets, a fixed charge over its book debts and floating charge over all other assets.

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ALAN HADLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

19.	Controlling party

Alan Hadley Limited is a wholly owned subsidiary of Claude Fenton (Holdings) Limited (registered number 00474108) which is regarded by the directors as the company's immediate controlling party and ultimate parent company. This company is incorporated in England and Wales and is the smallest and largest group into which the results of the company are consolidated.

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