REGISTERED NUMBER: 03915247 (England and Wales)

Strategic Report,

Report of the Director and

Financial Statements

for the Year Ended 31 December 2025

for

ALBERT HILL COMMERCIALS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

Director:

P W Foster

Secretary:

G Scott

Registered office:

8 River View Industrial Estate

Dodsworth Street

Darlington

DL1 2UH

Registered number:

03915247 (England and Wales)

Senior statutory auditor:

Lee Harris BSc (Hons) FCCA

Auditors:

Mitchell Gordon LLP

Accountants and Statutory Auditor

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

The director presents his strategic report for the year ended 31 December 2025.

Review of business

The principal activity of the company is commercial vehicle modifications and sales to the UK market.

The market for new vehicles is still robust, despite more general tougher market conditions and we envisage that 2026 will continue in the same manner.

As anticipated, manufacturer lead times stabilised in the year and we were able to continue to supply vehicles to customers on a timely basis and to the specifications they desired.

In 2025 the business, as planned, reduced its stock levels through the selling of vehicles by 24.8%. We now have a core range of vehicles that can be modified or tailored to each customers specification on a timely basis.

The business has focused on a small number of specialist vehicles to aid in widening the product range.

Key financial performance indicators during the year were as follows;

Unit

2025

2024

Turnover

£'000's

£22,291

£20,883

Gross margin

%

8.3%

9.1%

Profit before tax

£'000's

£1,690

£1,656

Principal risks and uncertainties

Again in 2025 the business continued to retain its profits within the business thus ensuring that there was no requirement for 3rd party lending.

As lead times on vehicles has levelled out, the planning of future orders has become much more controlled and easier to forecast, thus taking any uncertainty out of the business as to being able to fulfil customers' expectations with vehicle orders and specifications.

The business expects to continue to generate positive cashflow throughout 2026 and this will ensure working capital requirements are met.

Future developments

The company has continued to invest in the HGV body fitting work and reduce its dependency on external suppliers. This ensures we have control of the anticipated workflow and can meet our customers demand and timescales as all vehicles are planned weeks in advance.

The workshop fits approx. 4 bodies to vehicles per week and this has become an inhouse profit centre. It is anticipated that the workshop will increase its workload and will take on other additional work for associated companies to ensure a continuous work supply throughout the year.

On behalf of the board:

P W Foster - Director

17 July 2026

The director presents his report with the financial statements of the company for the year ended 31 December 2025.

Dividends

No dividends will be distributed for the year ended 31 December 2025.

Director

P W Foster held office during the whole of the period from 1 January 2025 to the date of this report.

Statement of director's responsibilities

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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 company's auditors are aware of that information.

Auditors

The auditors, Mitchell Gordon LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

P W Foster - Director

17 July 2026

Opinion

We have audited the financial statements of Albert Hill Commercials Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 December 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Strategic Report and the Report of the Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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.

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sectors in which the company operates;

-

we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection compliance, anti-bribery, employment, environmental and health and safety legislation;

-

we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-

identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

These procedures did not identify any potentially material actual or suspected non-compliance.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

-

considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

reviewed material journal entries to identify unusual transactions or posting by unusual users;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims;

-

reviewing correspondence with HMRC and the company's legal advisors.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remains a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance of fraud and cannot be expected to detect non-compliance with all laws & regulations.

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.

Lee Harris BSc (Hons) FCCA (Senior Statutory Auditor)

for and on behalf of Mitchell Gordon LLP

Accountants and Statutory Auditor

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

17 July 2026

Turnover

3

22,291,306

20,882,939

Cost of sales

20,449,072

18,981,028

Gross profit

1,842,234

1,901,911

Administrative expenses

332,432

317,934

1,509,802

1,583,977

Other operating income

102,720

99,600

Operating profit

5

1,612,522

1,683,577

Interest receivable and similar income

79,801

-

1,692,323

1,683,577

Interest payable and similar expenses

6

1,893

27,545

Profit before taxation

1,690,430

1,656,032

Tax on profit

7

422,450

439,483

Profit for the financial year

1,267,980

1,216,549

Other comprehensive income

-

-

Total comprehensive income for the year

1,267,980

1,216,549

Fixed assets

Tangible assets

8

184,345

94,253

Investment property

9

1,311,213

1,311,213

1,495,558

1,405,466

Current assets

Stocks

10

13,851,685

18,421,571

Debtors

11

3,389,171

1,128,384

Cash at bank

219,261

1,725,173

17,460,117

21,275,128

Creditors

Amounts falling due within one year

12

2,258,564

7,263,665

Net current assets

15,201,553

14,011,463

Total assets less current liabilities

16,697,111

15,416,929

Provisions for liabilities

13

51,969

39,767

Net assets

16,645,142

15,377,162

Capital and reserves

Called up share capital

14

100

100

Retained earnings

15

16,645,042

15,377,062

Shareholders' funds

16,645,142

15,377,162

The financial statements were approved by the director and authorised for issue on 17 July 2026 and were signed by:

P W Foster - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

100

14,160,513

14,160,613

Changes in equity

Total comprehensive income

-

1,216,549

1,216,549

Balance at 31 December 2024

100

15,377,062

15,377,162

Changes in equity

Total comprehensive income

-

1,267,980

1,267,980

Balance at 31 December 2025

100

16,645,042

16,645,142

Cash flows from operating activities

Cash generated from operations

1

6,081,888

2,937,910

Interest paid

(1,893

)

(27,545

)

Tax paid

(461,947

)

(775,123

)

Net cash from operating activities

5,618,048

2,135,242

Cash flows from investing activities

Purchase of tangible fixed assets

(171,330

)

(46,847

)

Sale of tangible fixed assets

32,364

54,002

Sale of investment property

-

220,000

Loans issued

(2,000,000

)

-

Interest received

79,801

-

Net cash from investing activities

(2,059,165

)

227,155

Cash flows from financing activities

Amount withdrawn by directors

(5,105,795

)

(1,147,347

)

Balances with connected parties

41,000

247,945

Net cash from financing activities

(5,064,795

)

(899,402

)

(Decrease)/increase in cash and cash equivalents

(1,505,912

)

1,462,995

Cash and cash equivalents at beginning of year

2

1,725,173

262,178

Cash and cash equivalents at end of year

2

219,261

1,725,173

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

31/12/25

31/12/24

£

£

Profit before taxation

1,690,430

1,656,032

Depreciation charges

54,401

30,281

Profit on disposal of fixed assets

(5,527

)

(38,655

)

Finance costs

1,893

27,545

Finance income

(79,801

)

-

1,661,396

1,675,203

Decrease in stocks

4,569,886

4,844,268

(Increase)/decrease in trade and other debtors

(301,787

)

177,343

Increase/(decrease) in trade and other creditors

152,393

(3,758,904

)

Cash generated from operations

6,081,888

2,937,910

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:

Year ended 31 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

219,261

1,725,173

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

1,725,173

262,178

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank

1,725,173

(1,505,912

)

219,261

1,725,173

(1,505,912

)

219,261

Total

1,725,173

(1,505,912

)

219,261

1.	STATUTORY INFORMATION

Albert Hill Commercials 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements,

estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis.

Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

In particular, the valuation of Investment Property requires judgement by the director as there is no readily available information of comparable properties and due to the fluctuations in the UK property market in general.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of vehicles is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets

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

Freehold property

-

2% on cost

Short leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Investment property

Investment property is shown at a fair value that the director feels is a reflection of the current market value. 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

31/12/25

31/12/24

£

£

United Kingdom

22,273,306

20,489,089

South America

-

393,850

Africa

18,000

-

22,291,306

20,882,939

4.	EMPLOYEES AND DIRECTORS

31/12/25

31/12/24

£

£

Wages and salaries

396,547

302,587

Social security costs

32,631

28,114

Other pension costs

7,209

5,888

436,387

336,589

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

31/12/25

31/12/24

Director

1

1

Workshop

6

5

Drivers

2

2

Security

2

2

Administration

3

3

14

13

31/12/25

31/12/24

£

£

Director's remuneration

-

-

5.	OPERATING PROFIT

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

31/12/25

31/12/24

£

£

Depreciation - owned assets

54,401

30,281

Profit on disposal of fixed assets

(5,527

)

(38,655

)

Auditors' remuneration

10,500

10,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31/12/25

31/12/24

£

£

Corporation tax interest

1,893

27,545

7.

TAXATION

Analysis of the tax charge

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

31/12/25

31/12/24

£

£

Current tax:

UK corporation tax

410,248

440,708

Deferred tax

12,202

(1,225

)

Tax on profit

422,450

439,483

Reconciliation of total tax charge included in profit and loss

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

31/12/25

31/12/24

£

£

Profit before tax

1,690,430

1,656,032

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

422,608

414,008

Effects of:

Expenses not deductible for tax purposes

-

27,579

Capital allowances in excess of depreciation

(12,888

)

(879

)

Chargeable gains

528

-

Deferred tax accelerated capital allowances

12,202

(1,225

)

Total tax charge

422,450

439,483

8.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 January 2025

500

60,000

122,373

Additions

-

-

58,500

Disposals

-

-

(1,750

)

At 31 December 2025

500

60,000

179,123

DEPRECIATION

At 1 January 2025

222

60,000

75,799

Charge for year

10

-

26,185

Eliminated on disposal

-

-

(813

)

At 31 December 2025

232

60,000

101,171

NET BOOK VALUE

At 31 December 2025

268

-

77,952

At 31 December 2024

278

-

46,574