REGISTERED NUMBER: 02361315 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

for

Containerlift Services Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

16

DIRECTORS:

J A Baker

R Cleaver

S Croft

SECRETARY:

S Croft

REGISTERED OFFICE:

Unit 29

Chivenor Business Park

Barnstaple

EX31 4AY

REGISTERED NUMBER:

02361315 (England and Wales)

AUDITORS:

Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

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

REVIEW OF BUSINESS

The 2025 financial year was characterised by continued inflationary pressure across the UK economy. Almost every area of the Company's cost base experienced increases during the year, including vehicle operating costs, maintenance, insurance, utilities and purchased services. Recruitment and retention of qualified HGV drivers also remained challenging, with continued upward pressure on driver wages throughout the industry.

Whilst inflation began to moderate during the year, interest rates remained at elevated levels for much of 2025. This continued to place pressure on both businesses and consumers, contributing to increased operating costs and a more cautious trading environment.

Despite these economic challenges, Containerlift Services Limited delivered a strong increase in turnover during the year, reflecting continued demand for the Company's specialist transport, lifting and project logistics services. Gross profit also increased compared to the previous year. However, much of this additional income was offset by higher operating costs across the business, resulting in a modest reduction in net profit compared with 2024.

The Directors are nevertheless pleased with the Company's overall performance. Throughout the year the business remained focused on maintaining high levels of customer service whilst exercising disciplined control over expenditure and operational efficiency. The approach enabled the Company to continue investing in its fleet and capabilities whilst successfully navigating a difficult economic environment.

A particular highlight during the year was the continued strengthening of the Company's financial position. Strong cash generation enabled the Company to substantially reduce asset finance borrowings, with several key items of equipment becoming debt free during the year. This has improved the Company's balance sheet, reduced future financing costs and provides an increasingly strong platform for continued investment and sustainable long term growth.

PRINCIPAL RISKS AND UNCERTAINTIES

The primary risk to Containerlift Services Limited remains the tough global economic and trading environment. The general global unrest, in particular the Middle East and the war in Ukraine, can have a direct impact on international shipping rates and fuel costs. Interest rates remain high leading to reduced consumer spending therefore reducing trading volumes and in turn, the number of shipping containers moving around the globe.

FINANCIAL RISK MANAGEMENT

Containerlift's operations expose it to a variety of financial risks that include the effect of changes in credit risk, liquidity risk and interest rate risk. Containerlift has in place a risk management programme that seeks to limit the adverse effects in the financial performance of the company by monitoring levels of debt finance and related finance costs.

Containerlift does not use derivative financial instruments to manage interest rate costs and as such no hedging accounting is applied.

Containerlift has a normal level of exposure to price, liquidity and cashflow risks arising from trading operations.

KEY PERFORMANCE INDICATORS

The directors review the company's monthly management accounts in detail. They also review the profitability of all jobs undertaken and continually monitor the company's cost base. Debtors are reviewed on a regular and ongoing basis to ensure that customers are paying to agreed terms.

ON BEHALF OF THE BOARD:

J A Baker - Director

5 August 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Road transport and handling (lifting) of shipping containers and international freight forwarding.

DIVIDENDS

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

FUTURE DEVELOPMENTS

The company started strengthening its financial position by paying off financing on several key assets over the past two years. This trend is expected to continue into 2026 and will contribute to a healthier balance sheet and enhanced cash reserves over the medium term.

Containerlift Services Limited continues to pursue a continuous fleet replacement program to ensure reliability of services and latest technology helping to improve the sustainability of the services we offer.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

J A Baker

R Cleaver

S Croft

Other changes in directors holding office are as follows:

D G Heys - resigned 29 July 2025

D K A Baker ceased to be a director after 31 December 2025 but prior to the date of this report.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 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, Henderson & Company, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J A Baker - Director

5 August 2026

Opinion

We have audited the financial statements of Containerlift Services Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other 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 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 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 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 four, 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 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:

In identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations we considered the nature of the company and the industry and the company's control environment. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operation of the company such as the Companies Act 2006, taxation legislation, food safety and health and safety legislation. We assessed the extent of compliance with laws and regulations identified through making enquiries of management, inspecting legal correspondence and correspondence with HMRC.

We considered management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management bias and override of controls. To address these risks we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions and assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias. We reviewed financial statement disclosures and tested balances to supporting documentation.

Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance through out the audit.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

John Henderson (Senior Statutory Auditor)

for and on behalf of Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

5 August 2026

TURNOVER

3

15,264,694

12,953,181

Cost of sales

11,809,123

9,957,794

GROSS PROFIT

3,455,571

2,995,387

Administrative expenses

3,339,500

2,917,548

116,071

77,839

Other operating income

323,125

428,463

OPERATING PROFIT

6

439,196

506,302

Interest payable and similar expenses

7

231,309

227,650

PROFIT BEFORE TAXATION

207,887

278,652

Tax on profit

8

62,983

125,737

PROFIT FOR THE FINANCIAL YEAR

144,904

152,915

PROFIT FOR THE YEAR

144,904

152,915

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

144,904

152,915

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

5,245,516

5,383,101

5,245,516

5,383,101

CURRENT ASSETS

Stocks

11

125,678

102,690

Debtors

12

3,076,406

4,019,650

Cash at bank

9,392

238,494

3,211,476

4,360,834

CREDITORS

Amounts falling due within one year

13

3,353,357

4,474,748

NET CURRENT LIABILITIES

(141,881

)

(113,914

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,103,635

5,269,187

CREDITORS

Amounts falling due after more than one year

14

(1,210,437

)

(1,583,876

)

PROVISIONS FOR LIABILITIES

18

(1,201,338

)

(1,138,355

)

NET ASSETS

2,691,860

2,546,956

CAPITAL AND RESERVES

Called up share capital

19

9,804

9,804

Share premium

20

224,923

224,923

Revaluation reserve

20

105,391

105,391

Capital redemption reserve

20

8,333

8,333

Retained earnings

20

2,343,409

2,198,505

SHAREHOLDERS' FUNDS

2,691,860

2,546,956

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2026 and were signed on its behalf by:

J A Baker - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 January 2024

9,804

2,045,590

224,923

Changes in equity

Total comprehensive income

-

152,915

-

Balance at 31 December 2024

9,804

2,198,505

224,923

Changes in equity

Total comprehensive income

-

144,904

-

Balance at 31 December 2025

9,804

2,343,409

224,923

Capital

Revaluation

redemption

Total

reserve

reserve

equity

£

£

£

Balance at 1 January 2024

105,391

8,333

2,394,041

Changes in equity

Total comprehensive income

-

-

152,915

Balance at 31 December 2024

105,391

8,333

2,546,956

Changes in equity

Total comprehensive income

-

-

144,904

Balance at 31 December 2025

105,391

8,333

2,691,860

Cash flows from operating activities

Cash generated from operations

1

1,223,748

1,510,858

Interest paid

(80,000

)

(58,549

)

Interest element of hire purchase payments paid

(151,309

)

(169,101

)

Tax paid

-

16,727

Net cash from operating activities

992,439

1,299,935

Cash flows from investing activities

Purchase of tangible fixed assets

(210,335

)

(210,805

)

Sale of tangible fixed assets

-

128,856

Net cash from investing activities

(210,335

)

(81,949

)

Cash flows from financing activities

Loan repayments in year

(25,000

)

(50,000

)

Capital repayments in year

(1,061,179

)

(885,338

)

Net cash from financing activities

(1,086,179

)

(935,338

)

(Decrease)/increase in cash and cash equivalents

(304,075

)

282,648

Cash and cash equivalents at beginning of year

2

(375,757

)

(658,405

)

Cash and cash equivalents at end of year

2

(679,832

)

(375,757

)

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

2025

2024

£

£

Profit before taxation

207,887

278,652

Depreciation charges

734,470

646,188

Profit on disposal of fixed assets

-

(3,063

)

Finance costs

231,309

227,650

1,173,666

1,149,427

Increase in stocks

(22,988

)

(45,586

)

Increase in trade and other debtors

(740,677

)

(773,262

)

Increase in trade and other creditors

813,747

1,180,279

Cash generated from operations

1,223,748

1,510,858

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

9,392

238,494

Bank overdrafts

(689,224

)

(614,251

)

(679,832

)

(375,757

)

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

238,494

38,643

Bank overdrafts

(614,251

)

(697,048

)

(375,757

)

(658,405

)

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.1.25

Cash flow

changes

At 31.12.25

£

£

£

£

Net cash

Cash at bank

238,494

(229,102

)

9,392

Bank overdrafts

(614,251

)

(74,973

)

(689,224

)

(375,757

)

(304,075

)

(679,832

)

Debt

Finance leases

(2,584,078

)

1,061,179

-

(1,909,449

)

Debts falling due

within 1 year

(25,000

)

25,000

-

-

(2,609,078

)

1,086,179

-

(1,909,449

)

Total

(2,984,835

)

782,104

-

(2,589,281

)

1.	STATUTORY INFORMATION

Containerlift Services 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

The financial statements have been prepared in accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and investment properties measured at fair value in accordance with the accounting policies set out below.

Significant judgements and estimates

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Valuation of plant and machinery

Plant and machinery are stated at fair value based on the valuation performed by an independent expert with recent experience in the category of plant and machinery valuations. The valuer used observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset.

Turnover

Turnover represents sales to external customers at invoice amounts less value added tax or local taxes on sales. Turnover is recognised when goods are delivered or over the period for which services are rendered.

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.

Website costs are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over the estimated useful life of 10 years.

Tangible fixed assets

Plant and machinery held and used in the company's own activities are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. Any revaluation increase or decrease is credited to a non distributable reserve.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over their expected useful lives as follows:

Plant and Machinery - at variable rates over 3 - 25 years

Motor Vehicles - over 10 years

Fixtures and Fittings - over 10 years

Computer Equipment - over 3 years

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

Inventories

Inventories are stated at the lower of cost and estimated selling price less cost to complete the sell.

The cost of finished goods and work in progress comprises all costs of purchase, cost of conversion and other costs incurred in bringing inventories to their present location and condition. These include design costs, raw materials, direct labour, other direct costs, related production overheads and borrowing costs.

Taxation

The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as an interest expense.

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.

Hire purchase and leasing commitments

Assets held under finance lease and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Operating lease payments are recognised as an expense on a straightline basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expenses on a straight line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension 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 when they are due. The assets of the plan are held separately from the company in independently administered funds.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

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:

2025

2024

£

£

United Kingdom

15,197,023

12,936,736

Outside UK

67,671

16,445

15,264,694

12,953,181

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,739,452

3,115,378

Social security costs

431,297

304,593

Other pension costs

63,727

69,282

4,234,476

3,489,253

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

2025

2024

Drivers

62

56

Supervisors

11

3

Administration

4

8

Directors

1

2

78

69

5.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

121,557

153,848

Directors' pension contributions to money purchase schemes

1,321

13,101

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

Money purchase schemes

1

1