Registration number: 04529048

Les Watson Transport Limited

Contents

Accountants' Report	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	4

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Les Watson Transport Limited
for the Period Ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Les Watson Transport Limited for the period ended 31 December 2025 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Les Watson Transport Limited, as a body, in accordance with the terms of our engagement letter dated 22 December 2023. Our work has been undertaken solely to prepare for your approval the accounts of Les Watson Transport Limited and state those matters that we have agreed to state to the Board of Directors of Les Watson Transport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Les Watson Transport Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Les Watson Transport Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Les Watson Transport Limited. You consider that Les Watson Transport Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Les Watson Transport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

1 May 2026

Les Watson Transport Limited

(Registration number: 04529048)
Balance Sheet as at 31 December 2025

	Note	31 December 2025 £	30 September 2024 £
Fixed assets
Tangible assets	4	1,750,713	1,582,216
Investment property	5	458,973	294,815
		2,209,686	1,877,031
Current assets
Stocks		15,500	19,234
Debtors	6	550,805	687,582
Cash at bank and in hand		363,686	190,932
		929,991	897,748
Creditors: Amounts falling due within one year	7	(869,736)	(706,733)
Net current assets		60,255	191,015
Total assets less current liabilities		2,269,941	2,068,046
Creditors: Amounts falling due after more than one year	7	(733,549)	(632,733)
Provisions for liabilities		(417,187)	(378,459)
Net assets		1,119,205	1,056,854
Capital and reserves
Allotted, called up and fully paid share capital		2	2
Profit and loss account		1,119,203	1,056,852
Total equity		1,119,205	1,056,854

Les Watson Transport Limited

(Registration number: 04529048)
Balance Sheet as at 31 December 2025 (continued)

For the financial period ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 May 2026 and signed on its behalf by:
 

.........................................

A L Watson

Director

Les Watson Transport Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Sycamores
Calthwaite
PENRITH
CA11 9RX

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The company extended its accounting year end from 30 September 2025 to 31 December 2025 in order for the year end to better fit in with the company's trading activities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

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

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

Les Watson Transport Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 December 2025 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold buildings	20 years straight line basis
Plant and equipment	10% reducing balance basis and 3 years straight line basis
Commercial motor vehicles	20% reducing balance basis
Furniture, fittings and office equipment	10% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuer uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Les Watson Transport Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 December 2025 (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Les Watson Transport Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 December 2025 (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 17 (2024 - 17).

4	Tangible assets

	Land and buildings £	Plant and equipment  £	Motor vehicles  £	Furniture, fittings and office equipment  £	Total £
Cost or valuation
At 1 October 2024	100,302	99,661	2,931,091	3,123	3,134,177
Additions	-	430	741,036	-	741,466
Disposals	-	-	(542,274)	-	(542,274)
At 31 December 2025	100,302	100,091	3,129,853	3,123	3,333,369
Depreciation
At 1 October 2024	35,680	48,738	1,465,432	2,111	1,551,961
Charge for the period	745	6,745	419,447	127	427,064
Eliminated on disposal	-	-	(396,369)	-	(396,369)
At 31 December 2025	36,425	55,483	1,488,510	2,238	1,582,656
Carrying amount
At 31 December 2025	63,877	44,608	1,641,343	885	1,750,713
At 30 September 2024	64,622	50,923	1,465,659	1,012	1,582,216

Les Watson Transport Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 December 2025 (continued)

5	Investment properties

	£
At 1 October 2024	294,815
Additions	164,158
At 31 December 2025	458,973

There has been no valuation of investment properties by an independent valuer. The directors are of the opinion that cost is still a reasonable estimate of the fair value of the properties.

6

Debtors

	31 December 2025 £	30 September 2024 £
Trade debtors	531,242	673,351
Other debtors	19,563	14,231
	550,805	687,582

7

Creditors

	Note	31 December 2025 £	30 September 2024 £
Due within one year
Loans and borrowings	8	580,530	412,532
Trade creditors		149,412	141,409
Taxation and social security		76,954	78,598
Corporation tax liability		1,814	32,558
Other creditors		61,026	41,636
		869,736	706,733
Due after one year
Loans and borrowings	8	733,549	632,733

Les Watson Transport Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 31 December 2025 (continued)

8	Loans and borrowings

	31 December 2025 £	30 September 2024 £
Current loans and borrowings
Bank borrowings	14,033	18,370
Finance lease liabilities	412,735	320,786
Other borrowings	153,762	73,376
	580,530	412,532

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

	31 December 2025 £	30 September 2024 £
Bank borrowings	14,033	18,370
Finance lease liabilities	412,735	320,786
	426,768	339,156

Bank borrowings are secured by fixed and floating charges over the company's assets.

Finance lease liabilities are secured on the assets to which they relate.