REGISTERED NUMBER: 15942899 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

for the Period 9 September 2024 to 30 November 2025

for

Hingley Brothers Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Statement of Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

A Hingley

R Hingley

K D Hingley

SECRETARY:

Mrs A J Parkes

REGISTERED OFFICE:

4 Talbots Lane

Two Woods Trading Estate

Brierley Hill

West Midlands

DY5 2YX

REGISTERED NUMBER:

15942899 (England and Wales)

AUDITORS:

Lewis Smith & Co.

Chartered Certified Accountants

Statutory Auditors

The Old Doctor's House

74 Grange Road

Dudley

West Midlands

DY1 2AW

The directors present their strategic report of the company and the group for the period 9 September 2024 to 30 November 2025.

REVIEW OF BUSINESS

Hingley Brothers Holdings Limited group commenced activities as a group on 4th April 2025, when the company acquired its investment in subsidiary A Hingley Transport (Brierley Hill) Limited.

Group turnover for the period to 30th November 2025 were £7,782,013 with net profits before tax were £585,128.

The group reserves at the period end were £462,644.

Within the groups subsidiaries

Trading activity, within its subsidiary, the turnover for 2025 has fallen slightly compared to 2024 while our gross margin percentage decreased slightly from 23.07% to 20.86%.

Our customers activity remained stable through the year and we were able to increase pricing to customers in the second half of the year which allowed us to increase our gross margins and keep the turnover stable as noted above.

In summary our customers have maintained activity throughout the year resulting in turnover reducing slightly to £11,727,348 (2024 - £12,202,530) and gross profit decreasing to £2,446,001 (2024 - £2,815,661), gross profit margin decreasing as mentioned above.

Indirect expenses have fallen slightly. This has resulted in profits before tax showing £449,103 (2024 - £449,621).

Our tractor unit fleet size remains broadly the same as 2024 again supported by our subcontractors with customer activity remaining broadly the same as 2024.

Our trailer repair and maintenance operation continues to be cost effective to the business verses an alternative outsource option for our own fleet of trailers. However, due to Government changes involving safety inspections and additional brake tests on trailers under inspection we will see additional cost for our trailer R & M from April 2025 onwards.

PRINCIPAL RISKS AND UNCERTAINTIES

Our industry remains highly competitive with fuel and labour cost forming the largest percentage of our cost base, any upwards shift in either can result in erosion of margins and subsequent profits.

We aim to mitigate such increases with continued use of fuel monitors which allows us to recover fuel price movements from our contracted customers, in addition to reviewing our other base costs of pricing using the RPI index as a marker for negotiations with our customers.

We continue to pursue opportunities both for organic growth with existing customers and new business activities which fit with our business model in order to offset and mitigate any negative external cost pressures.

As a group, we intend to limit our risks through better management of the key elements of the business, i.e. Employment Law, Health & Safety Law and Transport Law, linked to better training of the workforce.

ON BEHALF OF THE BOARD:

R Hingley - Director

30 April 2026

The directors present their report with the financial statements of the company and the group for the period 9 September 2024 to 30 November 2025.

INCORPORATION

The group was incorporated on 8 September 2024 .

PRINCIPAL ACTIVITY

The principal activity of the group in the period under review was that of haulage contractors and trailer maintenance.

DIVIDENDS

No dividends will be distributed for the period ended 30 November 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 9 September 2024 to the date of this report.

A Hingley

R Hingley

K D Hingley

All the directors, being eligible, offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

R Hingley - Director

30 April 2026

Opinion

We have audited the financial statements of Hingley Brothers Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 November 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 November 2025 and of the group's profit for the period 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 group 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 group's and the parent 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 Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 group's and the parent 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 group or the parent 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 a Report of the Auditors 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.

s part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Andrew Smith FCCA (Senior Statutory Auditor)

for and on behalf of Lewis Smith & Co.

Chartered Certified Accountants

Statutory Auditors

The Old Doctor's House

74 Grange Road

Dudley

West Midlands

DY1 2AW

30 April 2026

TURNOVER

3

7,782,013

Cost of sales

6,255,161

GROSS PROFIT

1,526,852

Administrative expenses

952,973

573,879

Other operating income

4

30,059

OPERATING PROFIT

6

603,938

Interest payable and similar expenses

7

18,810

PROFIT BEFORE TAXATION

585,128

Tax on profit

8

122,484

PROFIT FOR THE FINANCIAL PERIOD

462,644

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

462,644

Profit attributable to:

Owners of the parent

462,644

Total comprehensive income attributable to:

Owners of the parent

462,644

FIXED ASSETS

Intangible assets

11

(1,458,036

)

Tangible assets

12

2,280,699

Investments

13

-

Investment property

14

372,120

1,194,783

CURRENT ASSETS

Stocks

15

28,886

Debtors

16

2,540,462

Cash at bank and in hand

761,820

3,331,168

CREDITORS

Amounts falling due within one year

17

2,288,788

NET CURRENT ASSETS

1,042,380

TOTAL ASSETS LESS CURRENT LIABILITIES

2,237,163

CREDITORS

Amounts falling due after more than one year

18

(1,259,751

)

PROVISIONS FOR LIABILITIES

22

(504,768

)

NET ASSETS

472,644

CAPITAL AND RESERVES

Called up share capital

23

10,000

Retained earnings

24

462,644

SHAREHOLDERS' FUNDS

472,644

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

R Hingley - Director

FIXED ASSETS

Intangible assets

11

-

Tangible assets

12

-

Investments

13

1,780,069

Investment property

14

-

1,780,069

CURRENT ASSETS

Debtors

16

83,654

Cash at bank

62,704

146,358

CREDITORS

Amounts falling due within one year

17

1,357,056

NET CURRENT LIABILITIES

(1,210,698

)

TOTAL ASSETS LESS CURRENT LIABILITIES

569,371

CREDITORS

Amounts falling due after more than one year

18

562,500

NET ASSETS

6,871

CAPITAL AND RESERVES

Called up share capital

23

10,000

Retained earnings

24

(3,129

)

SHAREHOLDERS' FUNDS

6,871

Company's loss for the financial year

(3,129

)

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

R Hingley - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

10,000

-

10,000

Total comprehensive income

-

462,644

462,644

Balance at 30 November 2025

10,000

462,644

472,644

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

10,000

-

10,000

Total comprehensive income

-

(3,129

)

(3,129

)

Balance at 30 November 2025

10,000

(3,129

)

6,871

Cash flows from operating activities

Cash generated from operations

1

888,518

Interest element of hire purchase payments paid

(18,810

)

Tax paid

(28,003

)

Net cash from operating activities

841,705

Cash flows from investing activities

Purchase of intangible fixed assets

1,749,643

Purchase of tangible fixed assets

(881,001

)

Purchase of fixed asset investments

(1,780,069

)

Sale of tangible fixed assets

13,662

Adjustment on Acquisition

(3,283

)

Net cash from investing activities

(901,048

)

Cash flows from financing activities

Capital repayments in year

812,004

Amount introduced by directors

20,352

Amount withdrawn by directors

(22,182

)

Share issue

10,000

Net cash from financing activities

820,174

Increase in cash and cash equivalents

760,831

Cash and cash equivalents at beginning of period

2

-

Cash and cash equivalents at end of period

2

760,831

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

£

Profit before taxation

585,128

Depreciation charges

163,498

Profit on disposal of fixed assets

(1,551

)

Amortisation of Goodwill

(291,607

)

Finance costs

18,810

474,278

Decrease in stocks

1,309

Increase in trade and other debtors

(298,649

)

Increase in trade and other creditors

711,580

Cash generated from operations

888,518

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 November 2025

30.11.25

9.9.24

£

£

Cash and cash equivalents

761,820

-

Bank overdrafts

(989

)

-

760,831

-

3.	ANALYSIS OF CHANGES IN NET DEBT

At 9.9.24

Cash flow

At 30.11.25

£

£

£

Net cash

Cash at bank and in hand

-

761,820

761,820

Bank overdrafts

-

(989

)

(989

)

-

760,831

760,831

Debt

Finance leases

-

(1,152,570

)

(1,152,570

)

-

(1,152,570

)

(1,152,570

)

Total

-

(391,739

)

(391,739

)

1.	STATUTORY INFORMATION

Hingley Brothers Holdings 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 General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention, except for any modification to fair value basis for certain financial instruments reported below.

The presentational currency of the financial statements is Pound Sterling (£), rounded to the nearest £1.

The financial statements have been prepared on a going concern basis.

Significant judgements and estimates

Preparation of the financial statements requires management to make judgements and estimates based on

historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. The items in the financial statements where these estimates and judgements have been made are:

a) Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives are re-assessed annually. They are amended where necessary to reflect current estimates based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

b) Stock and work in progress provisions

It is necessary to consider the recoverability of the cost of stocks and work in progress. When calculating any provision required, management consider the nature and condition of the items as well as assessing the saleability of finished goods and the future usage of raw materials.

c) Impairment of debtors

The company make a judgement of the recoverability of trade and other debtors. When assessing any potential impairment, factors such as the ageing profile and historical experience are considered.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of value added tax and other sales taxes. Transport sales are recognised on delivery of goods. Rental income arising from leases on investment and leasehold property is accounted for on a straight line basis over the lease term. Interest received is recognised on receipt.

Goodwill

Goodwill is the amount recognised in connection with the acquisition of a business, is being amortised over 6 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated under the cost model 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 be capable of operating.

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

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are

recognised within 'operating profit' in the income statement.

Tractor units and trailers acquired are depreciated on a monthly basis pro rata from the month of acquisition.

Freehold Building are held at fair value, based on the current market value of the property.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 first-in, first-out method and includes all purchase, transport and handling costs in

bringing stocks to their present location and condition.

Work in progress includes the cost of direct materials and labour plus attributable overheads based on normal levels of activity.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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 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 the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plans are held separately from the company in independently administered funds.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are

measured initially at transaction cost. Subsequently, they are measured at amortised cost using the effective

interest rate method, less impairment.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event and it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. The provision is charged to the income statement in the year that the company becomes aware of the obligation taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Loans and borrowings are initially recognised at the transaction price including transaction costs.

Subsequently,they are measured at amortised cost using the effective interest rate method, less impairment.If an arrangement constitutes a finance transaction it is measured at present value.

Going Concern

After reviewing forecasts and projections, the directors believe that there will be adequate resources to continue in operation existence for the foreseeable future and continues to adopt the going concern basis in its preparation of its financial statements.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

£

Haulage and transport

7,705,437

Trailer repairs & maintenance

16,204

Other sales

60,372

7,782,013

An analysis of turnover by geographical market is given below:

£

United Kingdom

7,782,013

7,782,013

4.	OTHER OPERATING INCOME

£

Rents received

30,059

5.	EMPLOYEES AND DIRECTORS

£

Wages and salaries

2,372,893

Social security costs

311,852

Other pension costs

60,092

2,744,837

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

Drivers and Mechanics

60

Management and Administration

14

74

The average number of employees by undertakings that were proportionately consolidated during the period was 2 .

£

Directors' remuneration

465,733

Directors' pension contributions to money purchase schemes

15,503

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

4

Information regarding the highest paid director is as follows:

£

Emoluments etc

198,000

6.	OPERATING PROFIT

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

£

Hire of plant and machinery

790

Other operating leases

7,996

Depreciation - owned assets

77,006

Depreciation - assets on hire purchase contracts

86,492

Profit on disposal of fixed assets

(1,551

)

Auditors' remuneration

13,495

Vehicle leasing and hire

762,908

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

£

Hire purchase

18,810

8.

TAXATION

Analysis of the tax charge

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

£

Deferred tax

122,484

Tax on profit

122,484

Reconciliation of total tax charge included in profit and loss

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

£

Profit before tax

585,128

Profit multiplied by the standard rate of corporation tax in the UK of 25 %

146,282

Effects of:

Expenses not deductible for tax purposes

941

Income not taxable for tax purposes

(447

)

Capital allowances in excess of depreciation

(116,764

)

Utilisation of tax losses

42,890

Amortisation of negative goodwill

(72,902

)

Deferred taxation

122,484

Total tax charge

122,484