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2024-11-30 09318063 dpl:GroupUndertakings 2023-12-01 2024-11-30 09318063 dpl:ParticipatingInterests 2023-12-01 2024-11-30 09318063 dpl:GroupUndertakings core:ListedExchangeTraded 2023-12-01 2024-11-30 09318063 core:ListedExchangeTraded 2023-12-01 2024-11-30 09318063 dpl:GroupUndertakings core:UnlistedNon-exchangeTraded 2023-12-01 2024-11-30 09318063 core:UnlistedNon-exchangeTraded 2023-12-01 2024-11-30 09318063 core:NetGoodwill 2025-11-30 09318063 core:IntangibleAssetsOtherThanGoodwill 2025-11-30 09318063 core:LandBuildings 2025-11-30 09318063 core:PlantMachinery 2025-11-30 09318063 core:Vehicles 2025-11-30 09318063 core:FurnitureFittings 2025-11-30 09318063 core:OfficeEquipment 2025-11-30 09318063 core:AfterOneYear 2025-11-30 09318063 core:WithinOneYear 2025-11-30 09318063 core:ListedExchangeTraded 2025-11-30 09318063 core:UnlistedNon-exchangeTraded 2025-11-30 09318063 core:ShareCapital 2025-11-30 09318063 core:SharePremium 2025-11-30 09318063 core:RevaluationReserve 2025-11-30 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CUTTS TRANSPORT LIMITED

Registered Number
09318063
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2025

CUTTS TRANSPORT LIMITED
Company Information
for the year from 1 December 2024 to 30 November 2025

Directors | Mr M P Cutts
| Miss E A Cutts
| Mr T B Cutts
| Mrs L A Cutts
| Mr D J Cutts

Registered Address | 111-113 Main Street
| Bonby
| Brigg
| DN20 0PY

Place of Business | 7 Smithy Lane
| Bigby
| Barnetby
| Lincolnshire
| DN38 6ES

Registered Number | 09318063 (England and Wales)

CUTTS TRANSPORT LIMITED
Balance Sheet as at
30 November 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 2,279,023 |  |  |  | 2,349,462
|  |  |  | 2,279,023 |  |  |  | 2,349,462
Current assets |  |  |  |  |  |  |  |
Stocks | 4 | 48,867 |  |  |  | 49,420 |  |
Debtors | 5 | 537,249 |  |  |  | 537,140 |  |
Cash at bank and on hand |  | 244,580 |  |  |  | 95,589 |  |
|  | 830,696 |  |  |  | 682,149 |  |
Creditors amounts falling due within one year | 6 | (943,178) |  |  |  | (1,013,941) |  |
Net current assets (liabilities) |  |  |  | (112,482) |  |  |  | (331,792)
Total assets less current liabilities |  |  |  | 2,166,541 |  |  |  | 2,017,670
Creditors amounts falling due after one year | 7 |  |  | (304,559) |  |  |  | (715,341)
Provisions for liabilities | 9 |  |  | (424,009) |  |  |  | (303,634)
Net assets |  |  |  | 1,437,973 |  |  |  | 998,695
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 150 |  |  |  | 150
Profit and loss account |  |  |  | 1,437,823 |  |  |  | 998,545
Shareholders' funds |  |  |  | 1,437,973 |  |  |  | 998,695

- 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 25 June 2026, and are signed on its behalf by:
Mr M P Cutts Director Registered Company No. 09318063

CUTTS TRANSPORT LIMITED
Notes to the Financial Statements
for the year ended 30 November 2025

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

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

| Statement of compliance
--- | ---
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

| Basis of preparation
--- | ---
| These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

| Revenue from sale of goods
--- | ---
| Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue 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 transition can be measured reliably.

| Revenue from rendering of services
--- | ---
| Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

| Employee benefits
--- | ---
| Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

| Defined contribution pension plan
--- | ---
| A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

| Borrowing costs
--- | ---
| Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

| Current taxation
--- | ---
| The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

| Tangible fixed assets and depreciation
--- | ---
| Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

|  | Reducing balance (%) |  | Straight line (years)
| Plant and machinery | 25 |  | -
| Vehicles | 20 |  | -
| Office Equipment | - |  | 3

| Finance leases and hire purchase contracts
--- | ---
| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

| Stocks and work in progress
--- | ---
| Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

| Trade and other debtors
--- | ---
| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

| Cash and cash equivalents
--- | ---
| Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

| Trade and other creditors
--- | ---
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

| Share capital
--- | ---
| Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

| Government grants or assistance
--- | ---
| Government grants are accounted for using either the performance model or the accruals model, depending on the class of the grant. Income from grants classed under the performance model is recognised when any performance conditions are met, which may be immediately if there are no performance conditions. Income from grants classed under the accruals model is recognised systematically over the period in which related costs are recognised or, if related to an asset, over the useful life of that asset.

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

|  | 2025 |  | 2024
| Average number of employees during the year | 33 |  | 27

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

|  | Plant & machinery |  | Vehicles |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
| Cost or valuation
| At 01 December 24 | 245,617 |  | 2,452,368 |  | 26,367 |  | 2,724,352
| Additions | 32,039 |  | 25,000 |  | 1,955 |  | 58,994
| At 30 November 25 | 277,656 |  | 2,477,368 |  | 28,322 |  | 2,783,346
| Depreciation and impairment
| At 01 December 24 | 60,229 |  | 293,551 |  | 21,110 |  | 374,890
| Charge for year | 23,824 |  | 102,416 |  | 3,193 |  | 129,433
| At 30 November 25 | 84,053 |  | 395,967 |  | 24,303 |  | 504,323
| Net book value
| At 30 November 25 | 193,603 |  | 2,081,401 |  | 4,019 |  | 2,279,023
| At 30 November 24 | 185,388 |  | 2,158,817 |  | 5,257 |  | 2,349,462

4. | Stocks
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Work in progress | 48,867 |  | 49,420
| Total | 48,867 |  | 49,420

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

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 455,943 |  | 493,788
| Other debtors | 47,135 |  | 30,000
| Prepayments and accrued income | 34,171 |  | 13,352
| Total | 537,249 |  | 537,140

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

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 122,416 |  | 182,618
| Bank borrowings and overdrafts | 5,000 |  | 10,000
| Taxation and social security | 71,777 |  | 26,289
| Finance lease and HP contracts | 429,684 |  | 508,844
| Other creditors | 312,512 |  | 282,589
| Accrued liabilities and deferred income | 1,789 |  | 3,601
| Total | 943,178 |  | 1,013,941

7. | Creditors: amounts due after one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | - |  | 5,000
| Other creditors | 304,559 |  | 710,341
| Total | 304,559 |  | 715,341

8. | Obligations under finance leases
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Finance lease and HP contracts | 734,243 |  | 1,219,185

| Hire purchase contracts with a carrying amount of £734,243 (2024 - £1,219,185) are denominated in £ with a nominal interest rate of market rate. The final instalment is due on 18 November 2028. The final instalment dates vary amongst the borrowings, the date disclosed relates to the final date on the last borrowing agreement. The hire purchase liabilities are secured on the related assets.

9. | Provisions for liabilities
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 424,009 |  | 303,634
| Total | 424,009 |  | 303,634

10. | Other commitments
--- | ---
| Bank borrowings Bounce back loan is denominated in £ with a nominal interest rate of 2.5%. The final instalment is due on 11 May 2026. The carrying amount at year end is £5,000 (2024 - £15,000).