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Registered number: 03372744
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UNAUDITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 DECEMBER 2025
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DIAMOND LOGISTICS LIMITED
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DIAMOND LOGISTICS LIMITED
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COMPANY INFORMATION
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Henley Business Park Pirbright Road
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DIAMOND LOGISTICS LIMITED
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CONTENTS
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Statement of financial position
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Notes to the financial statements
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DIAMOND LOGISTICS LIMITED
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their report and the financial statements for the year ended 31 December 2025.
The principal activity of Diamond Logistics Limited remains the provision of technology-enabled logistics solutions, including fulfilment, carrier management, and network services to businesses across the UK.
Performance & Financial Position
The business delivered strong revenue growth during the year, supported by continued increases in volumes and overall network activity.
This progress, reflects ongoing investment in infrastructure and technology, as well as the continued scaling of the network.
Encourageingly, underlying operating performance remained positive, demonstrating that the core business model continues to perform well and scale effectively.
The Board considers this a transitional year, with continued investment and an evolving funding structure have positioning the business for future growth.
Network Expansion & Platform Growth
During the year, Diamond continued to expand its national network and customer base, now supporting over 1,000 customers through a growing number of service centres across the UK.
Our proprietary platform, Despatchlab, remains central to this growth - enabling automation, visibility, and multi-carrier capability at scale. Continued adoption across the network has strengthened both operational consistency and customer experience.
Investment in Technology & Infrastructure
2025 saw continued investment into Despatchlab and supporting infrastructure, including development expenditure and the early adoption of enhanced lease accounting, bringing right-of-use assets onto the balance sheet.
These investments are deliberate and form part of the Company’s strategy to build a scalable, tech-enabled logistics platform capable of supporting long-term national growth.
Funding & Balance Sheet
The Company continues to operate with external funding, including a £2m loan facility, which supports ongoing investment and growth.
Whilst the balance sheet reflects net liabilities at year end, the Directors remain confident in the Company’s ability to meet its obligations and continue as a going concern, supported by improving operational performance, recurring revenues, and planned margin improvements.
Operational Focus & Efficiency
Operational efficiency remains a key focus. Productivity gains driven by Despatchlab and network scale continue to improve performance metrics across the business.
The model - combining local service centres with centralised technology and carrier relationships - continues to differentiate Diamond in a competitive logistics market.
ESG Commitment
Environmental, Social and Governance considerations remain embedded in the Company’s strategy. This includes ongoing work to reduce environmental impact through smarter routing and carrier selection, alongside continued support for local communities and charitable initiatives.
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DIAMOND LOGISTICS LIMITED
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Outlook & Strategic Direction (2026 and Beyond)
The Board remains confident in the long-term strategy and outlook for the business.
While 2025 reflects a small reported loss, the fundamentals of the business are strong:
• Revenue growth continues
• Operating performance is positive
• Network expansion is progressing
• Technology investment is delivering scalability
The focus for 2026 is clear:
• Return to sustained profitability
• Strengthen cash generation
• Continue disciplined network growth
• Leverage Despatchlab as a scalable SaaS-enabled platform
The Directors believe the business is well positioned to capitalise on its investments and deliver improved financial performance over the coming years.
The Directors who served during the year were:
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 by:
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K L Lester
Director
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DIAMOND LOGISTICS LIMITED
REGISTERED NUMBER:03372744
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Capital redemption reserve
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DIAMOND LOGISTICS LIMITED
REGISTERED NUMBER:03372744
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with 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:
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K L Lester
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The notes on pages 5 to 10 form part of these financial statements.
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DIAMOND LOGISTICS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Diamond Logistics Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office which is also the principal place of business is disclosed on the company information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the Directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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DIAMOND LOGISTICS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
Depreciation is provided on the following basis:
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Fixtures, fittings and computer equipment
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over the term of the lease
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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.
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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence. Exceptional items are transactions that arise from events outside of the normal course of business operations. These items are material in nature and are disclosed separately in the financial statements to provide users with a clear understanding of the entity's financial performance.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which is 10 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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DIAMOND LOGISTICS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
A lease liability is recognised at the present value of future lease payments, discounted using the Company's incremental borrowing rate where the implicit rate is not readily determinable.
A corresponding right-of-use (ROU) asset is recognised, depreciated over the lease term.
Lease payments for short-term leases and leases of low-value assets are recognised as an expense on a straight-line basis over the lease term in profit or loss.
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The average monthly number of employees, including Directors, during the year was 17 (2024 -16).
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DIAMOND LOGISTICS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Fixtures, fittings and computer equipment
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Right-of-use assets are exclusively disclosed in their own column within the Tangible fixed assets note.
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DIAMOND LOGISTICS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Prepayments and accrued income
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Included within other debtors due within one year are balances due from Directors of £70,479 (2024: £73,003). The loans are interest free and repayable on demand. The amounts repaid and advanced are shown below:
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Balance at beginning of the year
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Balance outstanding at end of the year
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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DIAMOND LOGISTICS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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Included within bank loans is a loan of £2,000,000 (2024 - £2,000,000) which is repayable in full 5 years from initial drawdown. There is a warrant fee which shall become payable upon repayment of the loan, a refinance of the loan or a realisation event of the company. The Warrant Fee shall entitle the lender to 10% of the equity proceeds.
Interest is payable at 12% per annum, with 10% paid quarterly in arrears on the outstanding balance of the loan and 2% rolled up until redemption.
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Changes in Accounting Policies and Early Adoption of FRED 82
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During the year ended 31 December 2025, the Company early adopted the amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland arising from FRED 82 Periodic Review 2024, including the new lease accounting requirements in Section 20. These amendments were issued by the Financial Reporting Council and are effective for periods beginning on or after 1 January 2026; early adoption is permitted provided that all of the periodic review amendments are applied at the same time.
As a result of these amendments, the Company has changed its accounting policy for leases such that most leases that were previously classified as operating leases are now recognised on the balance sheet as a right-of-use asset and related lease liability. Exemptions are applied for short-term leases and leases of low-value assets in accordance with revised Section 20.
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