REGISTERED NUMBER: 03230756 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 August 2025

for

Ken Mallinson & Sons Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Independent Auditors' Report

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

Mr S R Mallinson

Mrs R Mallinson

Mr M S Bingham

Mr H C Mallinson

Mr M L Mallinson

Mr S B Mallinson

SECRETARY:

Mr S R Mallinson

REGISTERED OFFICE:

Claycliffe Road

Barugh Green

Barnsley

South Yorkshire

S75 1LR

REGISTERED NUMBER:

03230756 (England and Wales)

AUDITORS:

Harris & Co Limited

Chartered Accountants & Statutory Auditor

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

The directors present their strategic report for the year ended 31 August 2025.

REVIEW OF BUSINESS

The business review is included in the consolidated group financial statements of Ken Mallinson & Sons Holdings Limited.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's operations expose it to a variety of financial risks that include the effects of price risk, credit risk, liquidity risk and interest rate risk. The company does not use derivative financial instruments to manage interest rate costs and as such, no hedge accounting is applied.

The board of directors is responsible for monitoring financial risk and for deciding where it would be appropriate to use financial instruments to manage this risk.

Price Risk - The company has no exposure to equity securities price risk as it holds no listed or other equity investments.

Credit Risk - The company has implemented policies that require appropriate credit checks on potential customers before credit sales are made.

Liquidity Risk - The company actively maintains a mixture of long-term and short-term debt and overdraft finance that is designed to ensure that the company has sufficient available funds for operations and planned expansions.

Interest Rate Cashflow Risk - The company has interest bearing liabilities including both short-term and long-term debt. The board of directors regularly review interest rates on this debt to manage interest rate risk. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.

KEY PERFORMANCE INDICATORS

We consider that our key financial performance indicators are those that communicate the financial performance of the company, these being turnover, operating profit, profit before taxation and EBITDA.

ON BEHALF OF THE BOARD:

Mr S R Mallinson - Director

26 May 2026

The directors present their report with the financial statements of the Company for the year ended 31 August 2025.

PRINCIPAL ACTIVITY

The principal activity of the Company in the year under review was that of a haulage contractor.

DIVIDENDS

The total distribution of dividends for the year ended 31 August 2025 will be £ 200,000 .

DIRECTORS

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

Mr S R Mallinson

Mrs R Mallinson

Mr M S Bingham

Mr H C Mallinson

Mr M L Mallinson

Other changes in directors holding office are as follows:

Mr S B Mallinson was appointed as a director after 31 August 2025 but prior to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

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

ON BEHALF OF THE BOARD:

Mr S R Mallinson - Director

26 May 2026

Opinion

We have audited the financial statements of Ken Mallinson & Sons Limited (the 'Company') for the year ended 31 August 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the Company's affairs as at 31 August 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 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 Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

-	adequate accounting records have not been kept, 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 and returns; or

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

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

Responsibilities of directors

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

In preparing the financial statements, the directors are responsible for assessing the 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.

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.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

Enquiring of management, including obtaining and reviewing supporting documentation, concerning the company's policies and procedures relating to:

-

Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

-

Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

The internal controls established to mitigate risk related to fraud or non-compliance with laws & regulations;

-

Obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company. The key laws and regulations we considered in this context included the UK Companies Act, tax legislation, data protection act, anti bribery, employment and health & safety regulations and Driver & Vehicle Standards Agency.

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

Audit response to risks identified

Our procedures to respond to risks identified included the following:

-

Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

-

Enquiring of management concerning actual and potential litigation and claims;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud; and

-

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing the judgements used in accounting estimates to assess whether these may be indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in 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 our audit work, for this report, or for the opinions we have formed.

Tom Garner CA CTA (Senior Statutory Auditor)

for and on behalf of Harris & Co Limited

Chartered Accountants & Statutory Auditor

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

26 May 2026

TURNOVER

18,851,564

15,829,174

Cost of sales

15,477,134

12,610,717

GROSS PROFIT

3,374,430

3,218,457

Administrative expenses

2,623,096

2,160,608

OPERATING PROFIT

5

751,334

1,057,849

Interest payable and similar expenses

6

736,305

604,714

PROFIT BEFORE TAXATION

15,029

453,135

Tax on profit

7

8,461

51,475

PROFIT FOR THE FINANCIAL YEAR

6,568

401,660

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

6,568

401,660

FIXED ASSETS

Tangible assets

9

12,364,172

12,644,235

Investments

10

55,125

-

12,419,297

12,644,235

CURRENT ASSETS

Stocks

11

64,933

48,154

Debtors

12

4,169,790

4,102,330

Cash at bank and in hand

481,887

177,041

4,716,610

4,327,525

CREDITORS

Amounts falling due within one year

13

10,331,772

6,992,814

NET CURRENT LIABILITIES

(5,615,162

)

(2,665,289

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,804,135

9,978,946

CREDITORS

Amounts falling due after more than one year

14

(3,670,861

)

(6,660,701

)

PROVISIONS FOR LIABILITIES

18

(648,062

)

(639,601

)

NET ASSETS

2,485,212

2,678,644

CAPITAL AND RESERVES

Called up share capital

19

10,000

10,000

Retained earnings

20

2,475,212

2,668,644

SHAREHOLDERS' FUNDS

2,485,212

2,678,644

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2026 and were signed on its behalf by:

Mr S R Mallinson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2023

10,000

2,766,984

2,776,984

Changes in equity

Dividends

-

(500,000

)

(500,000

)

Total comprehensive income

-

401,660

401,660

Balance at 31 August 2024

10,000

2,668,644

2,678,644

Changes in equity

Dividends

-

(200,000

)

(200,000

)

Total comprehensive income

-

6,568

6,568

Balance at 31 August 2025

10,000

2,475,212

2,485,212

1.	STATUTORY INFORMATION

Ken Mallinson & Sons Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The Company meets its day to day working capital requirements through invoice financing facilities and a bank overdraft. The Company forecasts and projections show that it should be able to operate within the level of the current overdraft facilities and invoice financing facilities for 12 months from the date that these accounts are signed, on the basis that these facilities continue to be made available at the current level. Accordingly, the directors have a reasonable expectation that the Company has adequate financial resources to continue in operational existence for the foreseeable future and so the financial statements are prepared on a going concern basis.

The financial statements of the company are consolidated in the financial statements of Ken Mallinson & Sons Holdings Limited. The consolidated financial statements are available from its registered office.

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 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 paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirement of paragraph 33.7.

Significant judgements and estimates

The significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated. The key judgements and estimates applied are the estimated useful lives and residual values of fixed assets as set out below under "Tangible fixed assets".

Turnover

Turnover is recognised at the point of delivery and measured at the fair value of the consideration received or receivable for goods and services supplied, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Long Leasehold

- Straight line over 3 to 25 years

Plant and machinery

- Straight line over 3 to 10 years

Motor Vehicles:

General Motor Vehicles

- Straight line over 4 to 5 years

Wagons

- Straight line over 3 years

Trailers (New)

- Straight line over 5 to 12.5 years

Trailers (Second Hand)

- Straight line over 5 years

All fixed assets are initially recorded at cost.

Stocks

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

Cost is calculated using the weighted average cost method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments as covered in section 11 of FRS 102 are measured at amortised cost. The company does not have any other financial instruments as covered by section 12 of FRS 102.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,622,730

3,330,554

Social security costs

527,432

336,230

Other pension costs

97,791

72,823

5,247,953

3,739,607

The average number of employees during the year was as follows:

2025

2024

Production staff

100

75

Administrative staff

23

20

123

95

2025

2024

£

£

Directors' remuneration

4,717

4,715

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

56,864

29,057

Other operating leases

441,436

375,001

Depreciation - owned assets

327,231

378,234

Depreciation - assets on hire purchase contracts

1,308,162

1,075,898

Profit on disposal of fixed assets

(78,124

)

(320,807

)

Auditors' remuneration

15,115

16,875

Foreign exchange differences

(3,819

)

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

202,919

158,967

Hire purchase

533,386

445,747

736,305

604,714

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Deferred tax

8,461

51,475

Tax on profit

8,461

51,475

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

15,029

453,135

Profit multiplied by the standard rate of corporation tax in the UK of 19% (2024 - 19%)

2,856

86,096

Effects of:

Expenses not deductible for tax purposes

47,172

1,607

Income not taxable for tax purposes

(31,375

)

(463,370

)

Adjustments to tax charge in respect of previous periods

-

94,416

Consortium relief

-

26,656

Losses brought forward

(1,355,487

)

(1,049,417

)

Losses carried forward

1,345,295

1,355,487

Total tax charge

8,461

51,475

8.

DIVIDENDS

2025

2024

£

£

Interim

200,000

500,000

9.	TANGIBLE FIXED ASSETS

Long

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 September 2024

2,614,764

1,150,497

13,205,090

16,970,351

Additions

25,624

74,860

1,776,722

1,877,206

Disposals

-

(25,000

)

(753,834

)

(778,834

)

At 31 August 2025

2,640,388

1,200,357

14,227,978

18,068,723

DEPRECIATION

At 1 September 2024

192,852

820,624

3,312,640

4,326,116

Charge for year

148,300

82,744

1,404,349

1,635,393

Eliminated on disposal

-

(25,000

)

(231,958

)

(256,958

)

At 31 August 2025

341,152

878,368

4,485,031

5,704,551

NET BOOK VALUE

At 31 August 2025

2,299,236

321,989

9,742,947

12,364,172

At 31 August 2024

2,421,912

329,873

9,892,450

12,644,235

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Long

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 September 2024

229,919

190,000

11,305,256

11,725,175

Additions

-

-

1,776,722

1,776,722

Disposals

-

-

(665,093

)

(665,093

)

Transfer to ownership

-

-

(569,766

)

(569,766

)

At 31 August 2025

229,919

190,000

11,847,119

12,267,038

DEPRECIATION

At 1 September 2024

15,317

30,085

1,865,162

1,910,564

Charge for year

9,197

19,000

1,279,965

1,308,162

Eliminated on disposal

-

-

(195,721

)

(195,721

)

Transfer to ownership

-

-

(369,318

)

(369,318

)

At 31 August 2025

24,514

49,085

2,580,088

2,653,687

NET BOOK VALUE

At 31 August 2025

205,405

140,915

9,267,031

9,613,351

At 31 August 2024

214,602

159,915

9,440,094

9,814,611

10.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Additions

55,125

-

11.

STOCKS

2025

2024

£

£

Raw materials

53,983

37,204

Finished goods

10,950

10,950

64,933

48,154

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,910,917

3,969,393

Amounts owed by group undertakings

9,275

15,997

Prepayments and accrued income

249,598

116,940

4,169,790

4,102,330

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 15)

2,806,764

2,208,534

Hire purchase contracts (see note 16)

3,921,931

1,937,622

Trade creditors

1,840,885

1,375,090

Amounts owed to group undertakings

866,730

904,093

Social security and other taxes

121,363

87,587

VAT

477,798

231,107

Other creditors

57,321

15,893

Directors' current accounts

566

616

Accruals and deferred income

238,414

232,272

10,331,772

6,992,814

Subsequent to the year-end, the Company refinanced £2,074,640 of hire purchase liabilities that were due within 1 year. The refinancing was completed after the reporting date and resulted in the settlement of the existing hire purchase agreements and the recognition of new loan facilities on revised 4 year repayment terms.

14.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 15)

176,827

237,130

Hire purchase contracts (see note 16)

3,494,034

6,423,571

3,670,861

6,660,701