REGISTERED NUMBER: 01050645 (England and Wales)

EDWIN C FARRALL (TRANSPORT) LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

M C Farrall

Mrs E A Farrall

Mrs K A Farrall

D Biggs

M Farrall

SECRETARY:

Mrs K A Farrall

REGISTERED OFFICE:

Second Avenue

Deeside Industrial Park

Deeside

CH5 2NX

REGISTERED NUMBER:

01050645 (England and Wales)

AUDITORS:

Murray Smith LLP

Chartered Accountants

Statutory Auditor

Darland House

44 Winnington Hill

Northwich

Cheshire

CW8 1AU

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

Principal Activity

The principal activity of the Company during the year under review was the provision of contract distribution, general haulage and pallet network operations, together with electrical repair services, across a range of industries. The Company's customer base comprises primarily industrial, retail and manufacturing businesses serving both UK and international markets. The Company is a wholly owned trading subsidiary of Farralls Transport (Properties) Limited.

Business review

The directors aim to provide a balanced and comprehensive review of the Company's performance during the year and its financial position at the year end. This review reflects the size and complexity of the business and is presented in the context of the key risks and uncertainties the Company faces. The directors consider turnover, gross margin and operating profit to be the Company's key financial performance indicators, as they best reflect underlying trading performance.

Turnover for the year was £15,805,138 (2024: £16,082,725), a reduction of 1.7%, reflecting softer general haulage volumes across the sector rather than any loss of core contracts. Despite the lower turnover, gross profit was broadly maintained at £2,388,870 (2024: £2,423,264), with gross margin remaining stable at 15.1% (2024: 15.1%).

A key achievement in the year was the reduction in administrative expenses to £3,057,250 (2024: £3,151,434), a decrease of 3.0%. Combined with the resilience in gross margin, this drove operating profit up to £140,447 (2024: £83,237), an increase of 68.7% and the clearest evidence to date that the cost discipline introduced in 2024 is taking effect.

Within the cost base, direct wages fell to £2,383,725 (2024: £2,586,922) as average headcount reduced to 113 (2024: 120), reflecting the Company's continued focus on operating efficiently as it manages day-to-day volume volatility.

Finance costs increased to £241,266 (2024: £199,265), reflecting the higher cost of the Company's borrowings, invoice finance and hire purchase commitments. After finance costs and depreciation, the Company recorded a loss before taxation of £100,819 (2024: loss of £116,028), a narrowing of 13.1%, and a loss for the financial year of £154,534 (2024: £172,032), 10.2% lower than the prior year.

Total borrowings reduced to £4,903,839 (2024: £5,386,794), a decrease of 9.0%, continuing the Company's progress in reducing gearing, which remains a key priority for the directors.

2025 continued to be shaped by cost inflation across fuel, insurance, vehicle parts and general supply chain inputs, alongside continued volatility in day-to-day and month-to-month volumes that made resource planning and utilisation forecasting difficult. Against this backdrop, the improvement in underlying operating profitability represents genuine progress, even though the Company remains loss-making at the bottom line.

Principal risks and uncertainties

The Company is subject to the same risks and uncertainties that affect the wider transport and storage industry generally, including economic volatility, fuel price fluctuation, labour availability, regulatory change and supply chain disruption. In addition, the directors highlight the following risks specific to the Company's current position:

- Cost inflation and margin risk - the cost of operating and renewing the Company's own vehicle fleet remains the most significant influence on margin, particularly the price of new and replacement vehicles and the volatility of fuel costs. Fuel prices remain sensitive to wider geopolitical instability; the Company's gradual shift towards electric vehicles is beginning to reduce this volatility for some contracts.

- Interest rate and refinancing risk - the Company reduced its total borrowings during the year and continues to prioritise reducing its reliance on higher-cost facilities. The Company's borrowings include hire purchase contracts secured against vehicle assets over several-year terms, together with shorter-term overdraft and invoice finance facilities. The directors continue to manage the Company's overall borrowing structure and monitor movements in interest rates that could affect the cost of these facilities.

- Working capital - the Company continues to rely on invoice finance and overdraft facilities to manage day-to-day liquidity.

- Volume volatility - inconsistent day-to-day and month-to-month sales volumes continue to complicate resource and route planning and put pressure on utilisation and efficiency.

The directors remain confident that the business is well-positioned to navigate these challenges, supported by an experienced management team and the continuing financial support of its parent company.

Financial Risk Management and Objectives

The Company uses various financial instruments to raise finance for its operations, including bank loans and overdrafts, hire purchase contracts and invoice finance. These instruments expose the Company to market risk, cash flow interest rate risk, credit risk and liquidity risk, which the directors review and manage on a regular basis; policies remain materially unchanged from previous years.

Credit risk is managed by setting client credit limits based on payment history, credit referencing and market intelligence, reviewed regularly. Liquidity risk is managed by maintaining access to overdraft and invoice finance facilities to meet foreseeable working capital needs; short-term flexibility is provided principally through the Company's invoice finance facility and overdraft.

Having reviewed the Company's trading performance, cash flow forecasts and the continuing support of its parent company, Farralls Transport (Properties) Limited, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, and continue to adopt the going concern basis of accounting in preparing these financial statements.

Financial key performance indicators

The Company uses a number of key performance indicators in assessing and driving performance, including turnover, gross margin, operating profit, net assets, gearing and average headcount. A summary of the Company's principal financial KPIs is set out below:

Key metric

FY2025

FY2024

Turnover

£15,805,138

£16,082,725

Gross profit margin

15.1%

15.1%

Operating profit

£140,447

£83,237

Loss before taxation

£(100,819

)

£(116,028

)

Loss for the financial year

£(154,534

)

£(172,032

)

Net assets

£2,128,895

£1,483,799

Total borrowings

£4,903,839

£5,386,794

Gearing (borrowing / shareholders' funds)

230%

363%

Average number of employees

113

120

Future developments

Following a year of cost discipline and margin stabilisation in 2025, the directors' focus for 2026 is a continued profitability improvement programme. Rather than prioritising growth in turnover, the Company is focusing on increasing profitability within each operational department. The directors will also continue to review the sustainability of site and operating costs across the business, ensuring the cost base remains appropriate to the level of activity. The fleet renewal programme will continue on a disciplined basis aligned to turnover, alongside the Group's ongoing transition to Net Zero through continued investment in electric vehicles and supporting charging infrastructure. The Company will continue to support the wider Group's objective of reducing consolidated borrowings and improving gearing on a sustainable basis.

The directors remain committed to the Company's core values as a family business, ensuring they are clearly promoted to both the workforce and customers as the foundation of a balanced and resilient business model that supports long-term financial growth for everyone connected to the Company.

ON BEHALF OF THE BOARD:

Mrs K A Farrall - Director

18 August 2026

The directors present their 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.

DIRECTORS

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

M C Farrall

Mrs E A Farrall

Mrs K A Farrall

M Farrall

Other changes in directors holding office are as follows:

D Biggs - appointed 13 January 2025

P Mather - resigned 17 January 2025

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;

-	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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

Mrs K A Farrall - Director

18 August 2026

Opinion

We have audited the financial statements of Edwin C Farrall (Transport) 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 and 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 loss 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 five, 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:

The audit procedures designed to identify irregularities included:

- enquiry of management and those charged with governance around actual and potential litigation and claims;

- enquiry of company staff with responsibilities for tax and compliance matters to identify any instances of

non compliance with laws and regulations;

- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with

applicable laws and regulations;

- auditing the risk of management override of controls, including through testing journal entries and other

adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the

normal course of business.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, intentional misrepresentations or through 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.

Steven Williams (Senior Statutory Auditor)

for and on behalf of Murray Smith LLP

Chartered Accountants

Statutory Auditor

Darland House

44 Winnington Hill

Northwich

Cheshire

CW8 1AU

20 August 2026

TURNOVER

4

15,805,138

16,082,725

Cost of sales

13,416,268

13,659,461

GROSS PROFIT

2,388,870

2,423,264

Administrative expenses

3,057,250

3,151,434

(668,380

)

(728,170

)

Other operating income

5

808,827

811,407

OPERATING PROFIT

8

140,447

83,237

Interest payable and similar expenses

10

241,266

199,265

LOSS BEFORE TAXATION

(100,819

)

(116,028

)

Tax on loss

11

53,715

56,004

LOSS FOR THE FINANCIAL YEAR

(154,534

)

(172,032

)

LOSS FOR THE YEAR

(154,534

)

(172,032

)

OTHER COMPREHENSIVE INCOME

Revaluation of land and buildings

965,694

-

Income tax relating to other comprehensive income

(166,064

)

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

799,630

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

645,096

(172,032

)

FIXED ASSETS

Tangible assets

12

6,808,523

6,234,924

Investments

13

1

1

6,808,524

6,234,925

CURRENT ASSETS

Stocks

14

51,953

35,437

Debtors

15

3,982,591

3,540,774

Cash in hand

14,745

12,825

4,049,289

3,589,036

CREDITORS

Amounts falling due within one year

16

6,189,692

5,474,739

NET CURRENT LIABILITIES

(2,140,403

)

(1,885,703

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,668,121

4,349,222

CREDITORS

Amounts falling due after more than one year

17

(1,586,770

)

(2,132,746

)

PROVISIONS FOR LIABILITIES

21

(952,456

)

(732,677

)

NET ASSETS

2,128,895

1,483,799

CAPITAL AND RESERVES

Called up share capital

22

20,000

20,000

Revaluation reserve

23

1,472,515

672,885

Profit and loss account

23

636,380

790,914

SHAREHOLDERS' FUNDS

2,128,895

1,483,799

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2026 and were signed on its behalf by:

M Farrall - Director

Mrs K A Farrall - Director

Called up

Profit

share

and loss

Revaluation

Total

capital

account

reserve

equity

£

£

£

£

Balance at 1 January 2024

20,000

962,946

672,885

1,655,831

Changes in equity

Total comprehensive income

-

(172,032

)

-

(172,032

)

Balance at 31 December 2024

20,000

790,914

672,885

1,483,799

Changes in equity

Total comprehensive income

-

(154,534

)

799,630

645,096

Balance at 31 December 2025

20,000

636,380

1,472,515

2,128,895

1.	STATUTORY INFORMATION

Edwin C Farrall (Transport) 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.

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 as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of Farralls Transport (Properties) Limited as at 31 December 2025 and these financial statements can be obtained from Companies House.

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company.

Revenue from contracts to provide services is recognised by reference to the stage of completion of the contract, at the end of the reporting period, provided that the outcome can be reliably measured, including the amount of revenue, the stage of completion, the costs incurred, the costs to complete the contract and that it is probable that the company will receive the consideration due under the contract.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost

Leasehold improvements

-

5% on cost

Plant and machinery

-

10% on cost and 10% - 25% on reducing balance

Commercial vehicles

-

20% on reducing balance

Computer equipment

-

25% on reducing balance and 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Freehold and leasehold property is included at fair value at the date of the most recent valuation, less any subsequent accumulated depreciation. Gains are recognised in other comprehensive income and accumulated in the revaluation reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Freehold land is not depreciated.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial assets and liabilities are initially recognised at the transaction price unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future payments discounted at a market rate of interest.

Such assets and liabilities are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 the 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.

Rental income from operating leases is credited to profit or loss on a straight line basis over the term of the relevant lease.

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.

Cash and cash equivalents

Cash and cash equivalents includes cash at bank and in hand less bank overdrafts.

Going concern

The accounts have been prepared on the going concern basis, as management has prepared forecasts which show the company will be able to realise its assets and discharge its liabilities in the normal course of business. Accordingly, the directors believe it is appropriate to prepare the financial statements on a going concern basis.

Investments in joint ventures

Investments in joint ventures are recognised at cost less any provision for impairment.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of financial statements requires the company's management to make judgements, assumptions and estimates that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expense. 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 only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are critical judgements and estimates that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on amounts recognised in the financial statements:

Valuation of land and buildings

The value of land and buildings is subject to estimation uncertainty. The carrying value of land and buildings at the year end is the fair value at the date of the last revaluation less any subsequent accumulated depreciation. At the year end, the net book value of land and buildings totalled £1,820,691 (2024: £802,370). The directors do not consider this carrying value to be materially different to the fair value at the year end.

Impairment of fixed assets

Management also exercises judgement in estimating the useful life of tangible fixed assets. At the year end, the net book value of fixed assets totalled £6,808,523 (2024: £6,234,924), including the net book value of land and buildings.

4.

TURNOVER

The turnover and loss before taxation are attributable to the principal activities of the company.

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

2025

2024

£

£

General haulage & warehousing

15,602,052

15,836,249

Electrical repairs

203,086

246,476

15,805,138

16,082,725

All turnover arose within the United Kingdom.

5.	OTHER OPERATING INCOME

2025

2024

£

£

Rents received

359,933

398,319

Management charges receivable

366,070

396,422

Energy export

82,824

-

Government grants

-

16,666

808,827

811,407

6.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,040,190

3,348,803

Social security costs

382,195

350,322

Other pension costs

97,046

113,609

3,519,431

3,812,734

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

2025

2024

Drivers

72

75

Administration

24

26

Warehouse

8

9

Technicians

5

3

Management

3

4

Directors

1

3

113

120

7.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

76,616

65,025

Directors' pension contributions to money purchase schemes

1,911

1,601

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

Money purchase schemes

3

3

Additional directors' remuneration (including contributions to defined contribution pension schemes) is paid by Farralls Transport (Properties) Limited and recharged to Edwin C. Farrall (Transport) Limited by way of a management charge. During the year, directors' remuneration of £167,991 (2024 £203,573) was recharged.

Inclusive of the above recharge, the highest paid director received remuneration of £72,815 (2024 £92,445).

The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £2,093 (2024 £2,700).

8.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

205,837

283,804

Depreciation - owned assets

248,454

263,582

Depreciation - assets on hire purchase contracts

886,564

974,907

Loss/(profit) on disposal of fixed assets

61,429

(9,583

)

Other operating lease rentals

648,265

800,164

9.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

15,000

15,000

10.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

21,071

5,630

Bank loan interest

24,901

19,052

Hire purchase

195,294

174,583

241,266

199,265

11.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Deferred tax:

Origination and reversal of

timing differences

53,715

56,004

Tax on loss

53,715

56,004