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HAULAGE EXPRESS LIMITED

Registered Number
SC031221
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2026

HAULAGE EXPRESS LIMITED
Company Information
for the year from 1 April 2025 to 31 March 2026

Directors | PROUDFOOT, Brian Cyril
| PROUDFOOT, John James
| PROUDFOOT, Raymond Neil
| PROUDFOOT, Stephen Andrew
| PROUDFOOT, William John

Company Secretary | PROUDFOOT, William John

Registered Address | 51 Rae Street
| Dumfries
| DG1 1JD

Registered Number | SC031221 (Scotland)

HAULAGE EXPRESS LIMITED
Statement of Financial Position
31 March 2026

| Notes | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 1,078,115 |  |  |  | 902,540
Investments | 4 |  |  | 110,002 |  |  |  | -
|  |  |  | 1,188,117 |  |  |  | 902,540
Current assets |  |  |  |  |  |  |  |
Stocks |  | 94,366 |  |  |  | 58,765 |  |
Debtors | 5 | 792,452 |  |  |  | 737,052 |  |
Cash at bank and on hand |  | 1,010,470 |  |  |  | 935,167 |  |
|  | 1,897,288 |  |  |  | 1,730,984 |  |
Creditors amounts falling due within one year | 6 | (425,267) |  |  |  | (351,891) |  |
Net current assets (liabilities) |  |  |  | 1,472,021 |  |  |  | 1,379,093
Total assets less current liabilities |  |  |  | 2,660,138 |  |  |  | 2,281,633
Provisions for liabilities | 7 |  |  | (269,500) |  |  |  | (222,300)
Net assets |  |  |  | 2,390,638 |  |  |  | 2,059,333
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 400,000 |  |  |  | 400,000
Profit and loss account |  |  |  | 1,990,638 |  |  |  | 1,659,333
Shareholders' funds |  |  |  | 2,390,638 |  |  |  | 2,059,333

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 7 August 2026, and are signed on its behalf by:
PROUDFOOT, William John Director Registered Company No. SC031221

HAULAGE EXPRESS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2026

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

| Basis of preparation
--- | ---
| The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

| Defined contribution pension plan
--- | ---
| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

| Current taxation
--- | ---
| Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

|  | Reducing balance (%) |  | Straight line (years)
| Plant and machinery | 15 |  | -
| Vehicles | 25 |  | 10

| Investments
--- | ---
| Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

| Stocks and work in progress
--- | ---
| Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

| Trade and other debtors
--- | ---
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

| Trade and other creditors
--- | ---
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

| Financial instruments
--- | ---
| The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2. | Average number of employees
--- | ---

|  | 2026 |  | 2025
| Average number of employees during the year | 42 |  | 43

3. | Tangible fixed assets
--- | ---

|  | Plant & machinery |  | Vehicles |  | Total
--- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £
| Cost or valuation
| At 01 April 25 | 153,038 |  | 1,696,211 |  | 1,849,249
| Additions | - |  | 571,000 |  | 571,000
| Disposals | - |  | (404,838) |  | (404,838)
| At 31 March 26 | 153,038 |  | 1,862,373 |  | 2,015,411
| Depreciation and impairment
| At 01 April 25 | 124,198 |  | 822,511 |  | 946,709
| Charge for year | 4,597 |  | 278,778 |  | 283,375
| On disposals | - |  | (292,788) |  | (292,788)
| At 31 March 26 | 128,795 |  | 808,501 |  | 937,296
| Net book value
| At 31 March 26 | 24,243 |  | 1,053,872 |  | 1,078,115
| At 31 March 25 | 28,840 |  | 873,700 |  | 902,540

4. | Fixed asset investments
--- | ---
| The Company holds physical gold bullion as an investment, and it is included within fixed asset investments. Gold is initially recognised at cost, being the purchase price plus directly attributable acquisition costs. At the reporting date, the gold is remeasured to fair value using the quoted market price for gold at the balance sheet date (based on observable market data). Changes in fair value are recognised in the profit and loss account within other gains and losses. The gold is held in custody and the Company retains legal title.

|  | Other investments1 |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| Additions | 112,044 |  | 112,044
| Revaluations | (2,042) |  | (2,042)
| At 31 March 26 | 110,002 |  | 110,002
| Net book value
| At 31 March 26 | 110,002 |  | 110,002
| At 31 March 25 | - |  | -

| Notes
--- | ---
| 1Other investments other than loans

5. | Debtors: amounts due within one year
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 637,084 |  | 502,551
| Prepayments and accrued income | 155,368 |  | 234,501
| Total | 792,452 |  | 737,052

6. | Creditors: amounts due within one year
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 226,284 |  | 134,674
| Taxation and social security | 190,969 |  | 186,715
| Other creditors | 4,145 |  | -
| Accrued liabilities and deferred income | 3,869 |  | 30,502
| Total | 425,267 |  | 351,891

7. | Provisions for liabilities
--- | ---
| The provision for deferred tax arises due to accelerated capital allowances on tangible fixed assets.

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 269,500 |  | 222,300
| Total | 269,500 |  | 222,300

8. | Pension commitments
--- | ---
| The pension cost charge represents contributions payable by the company to the fund and amounted to £31,216 (2025 - £24,729)

9. | Related party transactions
--- | ---
| During the year management charges of £210,000 (2025 - £200,000) were paid to Fred Proudfoot Limited, the parent company which owns 95% of the issued share capital. Furthermore, during the year £528,996 (2025 - £482,976) was paid to Fred Proudfoot Limited for vehicle and trailer hire. At the reporting date the company owed Fred Proudfoot Limited £2,833 (2025 - £nil). During the year the company occupied premises owned by Fred Proudfoot Limited rent free (2025 - same). During the year insurance of £15,500 (2025 - £15,000) was recharged to Fred Proudfoot Limited.

10. | Parent-subsidiary relationships
--- | ---
| As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company's parent undertaking is Fred Proudfoot Limited, a company registered in England and Wales, company number 00337279.