Heverin Haulage Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Income Statement	7
Statement of Comprehensive Income	8
Statement of Financial Position	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Statement of Cash Flows	12
Notes to the Financial Statements	13—19

The directors present their strategic report for the year ended 30 June 2025.

Review of the Business

The directors consider turnover, gross margin and operating profit to be the main financial key performance indicators of the business. Turnover increased by 3.5% on the previous year and the gross profit margin, before depreciation and profit on sale of fixed assets, increased to 24.4% from 23.5%, mainly due to controls on costs. Operating profit increased to £1,044,062 from £760,214.

The directors are satisfied with the results achieved for the year and remain optimistic about the company's future prospects.

The company is exempt from the requirement to disclose details of non-financial key performance indicators as it is a medium sized company.

Principal Risks and Uncertainties

The company's financial risk management objectives consist of identifying and monitoring those risks which have an

adverse impact on the value of the company's financial assets and liabilities or on reported profitability and on the cash

flows of the company.

The company's principal financial instruments comprise cash balances, bank loans and overdrafts, hire purchase finance

and various items such as trade debtors and trade creditors which arise directly from trading operations. The main

purpose of these financial instruments is to provide finance for the company's operations.

The main financial risks arising from the company's financial instruments are liquidity risk, interest risk and credit risk.

The company minimises its exposure to liquidity risk by managing cash generation by its operations with cash collection

targets set. In this way the company ensures that sufficient funds are available for day to day operations and planned

expansions.The company seeks to minimise its exposure to interest rate risk by borrowing through its facility and paying

interest at the prescribed rate. The company regularly reviews its borrowing position.

As with any business, the company is exposed to a certain level of credit risk, but mitigates this by maintaining strong

credit control procedures and ensuring credit checks are carried out.

Future Developments

During the year under review the company reported a solid profitable performance due to increased activity.

It remains a time of economic uncertainty, and the directors continue to make every effort to source new revenues, and to control costs. In their opinion the company is well positioned to meet these challenges and to continue to operate profitably.

On behalf of the board

Mr Michael Heverin

Director

16 May 2026

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Heverin Haulage Limited

Company No. 03580959

Directors' Report For The Year Ended 30 June 2025

Directors' Report

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

Principal Activity

The company's principal activity continues to be that of haulage and waste contractors.

Directors

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

Mr Michael Heverin

Mrs Siobhan Heverin

Matters covered in the Strategic Report

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

Statement of Directors' Responsibilities

The directors are responsible for preparing the 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). 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 the financial statements the directors are 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 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 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.

The directors are 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 Directors' 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.

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Heverin Haulage Limited

Directors' Report (continued)

For The Year Ended 30 June 2025

Independent Auditors

The auditors, Mountsides 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 Michael Heverin

Director

16 May 2026

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Independent Auditor's Report

to the Members of

Heverin Haulage Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Heverin Haulage Limited for the year ended 30 June 2025 which comprise the Income Statement, Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 June 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 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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 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. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

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

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Heverin Haulage 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 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, 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 or 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 Directors' Responsibilities Statement set out on page 2—3, 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.

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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

Based on our understanding of the company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to but not limited to, Companies Act 2006 and UK tax legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates. Audit procedures performed included:

Enquiries with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.

Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing.

Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

Reviewing the financial statements for compliance with the Companies Act 2006.

Evaluating and challenging the reasonableness of accounting estimates.

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.

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Independent Auditor's Report (continued)

to the Members of

Heverin Haulage 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.

Christopher Andrews ACA (Senior Statutory Auditor)

for and on behalf of Mountsides Limited , Statutory Auditor

16 May 2026

Mountsides Limited

Chartered Accountants and Statutory Auditors

2 Mountside

Stanmore

Middlesex

HA7 2DT

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Heverin Haulage Limited

Income Statement

For The Year Ended 30 June 2025

Income Statement

		2025	2024
	Notes	£	£
TURNOVER	3	14,342,982	13,859,713
Cost of sales		(12,456,202 )	(12,314,448 )

GROSS PROFIT		1,886,780	1,545,265

Administrative expenses		(858,074 )	(837,568 )
Other operating income		15,356	52,517

OPERATING PROFIT	5	1,044,062	760,214
Other interest receivable and similar income	10	-	1,270
Interest payable and similar charges	11	(274,726 )	(237,743 )

PROFIT BEFORE TAXATION		769,336	523,741
Tax on Profit	12	(197,561 )	(134,409 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		571,775	389,332

The notes on pages 12 to 19 form part of these financial statements.

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Heverin Haulage Limited

Statement of Comprehensive Income

For The Year Ended 30 June 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	571,775	389,332
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	571,775	389,332

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Heverin Haulage Limited

Statement of Financial Position

As At 30 June 2025

Statement of Financial Position

Registered number: 03580959

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		6,484,267		6,019,699

			6,484,267		6,019,699
CURRENT ASSETS
Stocks	14	517,886		545,009
Debtors	15	3,479,194		2,702,650
Cash at bank and in hand		93,226		260,322

		4,090,306		3,507,981
Creditors: Amounts Falling Due Within One Year	16	(3,243,131 )		(2,727,245 )

NET CURRENT ASSETS (LIABILITIES)			847,175		780,736

TOTAL ASSETS LESS CURRENT LIABILITIES			7,331,442		6,800,435

Creditors: Amounts Falling Due After More Than One Year	17		(1,835,490 )		(2,073,819 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	20		(852,145 )		(654,584 )

NET ASSETS			4,643,807		4,072,032

CAPITAL AND RESERVES
Called up share capital	22		100		100
Income Statement			4,643,707		4,071,932

SHAREHOLDERS' FUNDS			4,643,807		4,072,032

On behalf of the board

Mr Michael Heverin

Director

16 May 2026

The notes on pages 12 to 19 form part of these financial statements.

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Heverin Haulage Limited

Statement of Changes in Equity

For The Year Ended 30 June 2025

Statement of Changes in Equity

	Share Capital	Income Statement	Total
	£	£	£
As at 1 July 2023	100	3,682,600	3,682,700
Profit for the year and total comprehensive income	-	389,332	389,332

As at 30 June 2024 and 1 July 2024	100	4,071,932	4,072,032


Profit for the year and total comprehensive income	-	571,775	571,775

As at 30 June 2025	100	4,643,707	4,643,807

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Heverin Haulage Limited

Statement of Cash Flows

For The Year Ended 30 June 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,904,448	2,651,959
Interest paid		(274,726 )	(237,743 )
Tax refunded		-	20,840

Net cash generated from operating activities		1,629,722	2,435,056

Cash flows from investing activities
Purchase of tangible assets		(669,787 )	(182,455 )
Proceeds from disposal of tangible assets		515,250	71,728
Interest received		-	1,270

Net cash used in investing activities		(154,537 )	(109,457 )

Cash flows from financing activities
Proceeds from new bank borrowings		368,214	-
Repayment of bank borrowings		-	(446,008 )
Proceeds from new other loans		-	21,455
Repayment of other loans		(5,862)	-
Repayment of finance leases		(1,961,564 )	(1,474,903 )
Amount withdrawn by directors		(39,805)	(182,621)

Net cash used in financing activities		(1,639,017 )	(2,082,077 )



(Decrease)/increase in cash and cash equivalents		(163,832 )	243,522
Cash and cash equivalents at beginning of year	2	249,786	6,264

Cash and cash equivalents at end of year	2	85,954	249,786

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Heverin Haulage Limited

Notes to the Statement of Cash Flows

For The Year Ended 30 June 2025

Notes to the Statement of Cash Flows

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

	2025	2024
	£	£
Profit for the financial year	571,775	389,332
Adjustments for:
Tax on profit	197,561	134,409
Interest expense	274,726	237,743
Interest income	-	(1,270 )
Depreciation of tangible assets	1,820,111	1,733,985
Profit on disposal of tangible assets	(191,197)	(15,623)
Movements in working capital:
Decrease/(increase) in stocks	27,123	(199,058 )
(Increase)/decrease in trade and other debtors	(776,544 )	548,890
Decrease in trade and other creditors	(19,107 )	(176,449 )

Net cash generated from operations	1,904,448	2,651,959

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
	£	£
Cash at bank and in hand	93,226	260,322
Overdraft facilities repayable on demand	(7,272 )	(10,536 )

Cash and cash equivalents as stated in the Statement of Cash Flows	85,954	249,786

3. Analysis of changes in net debt

	As at 1 July 2024	Cash flows	As at 30 June 2025
	£	£	£
Cash at bank and in hand	260,322	(167,096)	93,226
Overdraft facilities repayable on demand	(10,536)	3,264	(7,272)

Cash and cash equivalents	249,786	(163,832)	85,954
Finance leases	(3,449,751)	22,619	(3,427,132)
Debts falling due within one year	(187,829 )	(362,352)	(550,181 )

	(3,387,794)	(503,565)	(3,891,359)

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Heverin Haulage Limited

Notes to the Financial Statements

For The Year Ended 30 June 2025

Notes to the Financial Statements

1. General Information

Heverin Haulage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03580959 . The registered office is Hill & Coles Farm, Flamstead London Road, St Albans, Hertfordshire, AL3 8HA.

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 represents the total value of haulage services provided during the year, excluding discounts and value added tax.

Turnover is recognised when services have been rendered, the price to the customer is fixed and determinable and collectability is reasonably assured. Turnover also includes revenue in respect of services completed but unbilled at the balance sheet date.

2.3. 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:

Leasehold	Over term of lease.
Plant & Machinery	25% on reducing balance.
Motor Vehicles	25% on reducing balance.
Fixtures & Fittings	25% on reducing balance.

2.4. Leasing and Hire Purchase Contracts

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

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

2.5. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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. Financial Instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and lines to related parties.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment of assets are recognised in the statement of comprehensive income.

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Heverin Haulage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.8. Taxation

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

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

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

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

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

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Turnover

The turnover and profit before taxation are attributable to the one principal activity of the company, carried on exclusively in the UK.

4. Other Operating Income

	2025	2024
	£	£
Other operating income	15,356	52,517

	15,356	52,517

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	107,314	-
Depreciation of tangible fixed assets	1,820,111	1,733,985
Profit on disposal of tangible fixed assets	(191,197 )	(15,623 )

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Heverin Haulage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

6. Auditor's Remuneration

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

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	12,000	12,000


Other Services
Other non-audit services	9,000	9,000

7. Staff Costs

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

	2025	2024
	£	£
Wages and salaries	4,669,753	4,520,580
Social security costs	405,568	375,056
Other pension costs	57,312	54,468

	5,132,633	4,950,104

8. Average Number of Employees

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

	2025	2024
Office and administration	12	12
Operational	83	82

	95	94

9. Directors' remuneration

	2025	2024
	£	£
Emoluments	27,689	27,775
Company contributions to money purchase pension schemes	831	833

	28,520	28,608

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Other interest receivable	-	1,270

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Heverin Haulage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Factoring charges	19,382	30,920
Finance charges payable under finance leases and hire purchase contracts	207,418	167,913
Other finance charges	47,926	38,910

	274,726	237,743

12. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	-	-
Deferred Tax
Deferred taxation - charge for year			197,561	134,409


Total tax charge for the period			197,561	134,409

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	769,336	523,741

Tax on profit at 25% (UK standard rate)	192,333	130,935
Expenses not deductible for tax purposes	5,228	3,474

Total tax charge for the period	197,561	134,409

13. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 July 2024	153,301	15,300,766	29,950	54,313	15,538,330
Additions	-	2,608,732	-	-	2,608,732
Disposals	-	(1,997,303 )	-	-	(1,997,303 )

As at 30 June 2025	153,301	15,912,195	29,950	54,313	16,149,759

...CONTINUED

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Heverin Haulage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

Depreciation
As at 1 July 2024	57,804	9,413,870	13,871	33,086	9,518,631
Provided during the period	3,727	1,808,873	4,019	3,492	1,820,111
Disposals	-	(1,673,250 )	-	-	(1,673,250 )

As at 30 June 2025	61,531	9,549,493	17,890	36,578	9,665,492

Net Book Value
As at 30 June 2025	91,770	6,362,702	12,060	17,735	6,484,267

As at 1 July 2024	95,497	5,886,896	16,079	21,227	6,019,699

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Plant & Machinery	4,446,339	3,836,990

14. Stocks

	2025	2024
	£	£
Materials	517,886	545,009

15. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,847,093	1,636,841
Other debtors	1,632,101	1,065,809

	3,479,194	2,702,650

16. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	1,591,642	1,375,932
Trade creditors	577,438	515,827
Bank loans and overdrafts	454,319	89,369
Other loans	103,134	108,996
Other creditors	203,262	266,229
Taxation and social security	313,336	370,892

	3,243,131	2,727,245

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	1,835,490	2,073,819

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Heverin Haulage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

Of the creditors the following amounts are secured.

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,427,132	3,449,751
Bank loans and overdrafts	447,047	78,833

Bank borrowings are secured by a fixed and floating charge over the undertaking and all property and assets of the company, present and future.

Hire purchase contracts are secured on the respective assets.

18. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	447,047	78,833
Other loans	103,134	108,996

	550,181	187,829

19. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	1,800,146	1,534,503
Later than one year and not later than five years	2,109,934	2,353,268

	3,910,080	3,887,771
Less: Finance charges allocated to future periods	482,948	438,020

	3,427,132	3,449,751

20. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	852,145	654,584

21. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 July 2024	654,584	654,584
Deferred taxation - charge for year	197,561	197,561

Balance at 30 June 2025	852,145	852,145

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Heverin Haulage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

22. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

23. Other Commitments

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

	2025	2024
	£	£
Not later than one year	345,758	410,553
Later than one year and not later than five years	186,177	531,934

	531,935	942,487

24. Pension Commitments

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

During the year the charge to the income statement in respect of defined contribution schemes was £57,312 (2024: £54,468).

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

25. Related Party Disclosures

Thecompany has paid rents in the year to a partnership in which two of its directors have an interest of £64,176 (2024: £64,176).

During this and previous years the company has loaned £1,331,381 to M & S Heverin Limited, a company under the same control and ownership as Heverin Haulage Limited. At the balance sheet date £1,331,381 (2024:£741,655) was owed to the company, and is included within other debtors. The loan is unsecured, and is repayable on demand.

All directors are considered to be key management personnel and the total compensation paid to them during the year was £30,242 (2024: £30,126).

26. Controlling Parties

The company's ultimate controlling party is Michael Heverin by virtue of their interest in the share capital of the company.

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