Liberty Express Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Liberty Express Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07115987 . The registered office is Foxhols Farm , Lyne Lane, Lyne, Chertsey, KT16 0AN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Presentational Currency

The accounts are presented in and rounded to the nearest £1 sterling.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover represents net invoiced sales of freight and logistics services, excluding value added tax.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. Capitalised software development costs are measured at cost less accumulated amortisation and any accumulated impairment losses, and are amortised on a straight line basis over their expected useful economic life of 10 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation except for land which is not depreciated and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	10% SLM
Leasehold	10% SLM
Plant & Machinery	20% SLM
Motor Vehicles	20% SLM
Fixtures & Fittings	20% SLM
Computer Equipment	25% SLM

2.6. Leasing and Hire Purchase Contracts

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

2.7. 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.

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Liberty Express Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.8. 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.

2.9. Pensions

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.

2.10. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 19 (2025: 17)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 April 2025	79,127
Additions	125,544

As at 31 March 2026	204,671

Amortisation
As at 1 April 2025	1,319
Provided during the period	15,532

As at 31 March 2026	16,851

Net Book Value
As at 31 March 2026	187,820

As at 1 April 2025	77,808

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Liberty Express Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2025	353,334	955,723	589,718	28,589
Additions	-	2,800	-	2,672

As at 31 March 2026	353,334	958,523	589,718	31,261

Depreciation
As at 1 April 2025	128,143	771,071	459,834	28,052
Provided during the period	35,334	98,699	61,059	537

As at 31 March 2026	163,477	869,770	520,893	28,589

Net Book Value
As at 31 March 2026	189,857	88,753	68,825	2,672

As at 1 April 2025	225,191	184,652	129,884	537


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2025	36,767	1,964,131
Additions	1,990	7,462

As at 31 March 2026	38,757	1,971,593

Depreciation
As at 1 April 2025	21,132	1,408,232
Provided during the period	5,445	201,074

As at 31 March 2026	26,577	1,609,306

Net Book Value
As at 31 March 2026	12,180	362,287

As at 1 April 2025	15,635	555,899

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	777,458	309,994
Prepayments and accrued income	9,929	30,989
VAT	43,105	30,342

	830,492	371,325

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Liberty Express Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	57,672	60,216
Trade creditors	669,858	390,971
Corporation tax	123,424	33,039
Other taxes and social security	20,567	13,799
Net wages	49,780	-
Other creditors	31,603	51,066
Accruals and deferred income	11,208	14,208
Directors' loan accounts	695	875

	964,807	564,174

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	13,710	11,371

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	57,672	60,216
Later than one year and not later than five years	13,710	11,371

	71,382	71,587

	71,382	71,587

The liability under the agreement for the acquisition of the parcel sorting machine had not in earlier periods been measured using the effective interest method, and the finance charge inherent in the agreement had not been recognised. The liability at 31 March 2026 has been measured at the present value of the fifteen instalments remaining at that date.

Interest payable and similar charges of £60,011 (2025 – £nil) therefore includes £51,111 which relates to periods before 1 April 2025. The charge attributable to the year ended 31 March 2026 is £8,900.

The comparative figures have not been restated. Had the liability been measured on this basis at 31 March 2025, creditors would have been £51,111 higher and reserves brought forward £51,111 lower.

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Accelerated capital allowances	87,733	-
Other timing differences	-	86,593

	87,733	86,593

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Liberty Express Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

11. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	15,000	15,000

The shares are made up of 15,000 Ordinary shares of £1.00 each.

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	171,000	-

	171,000	-

13. Related Party Disclosures

During the year, total dividends of £200,000 (2025 - £nil) were paid to the directors.

The directors have charged a market rent for the warehouse premises and parking spaces of £228,000 (2025: £228,000).

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		187,820		77,808
Tangible Assets	5		362,287		555,899

			550,107		633,707
CURRENT ASSETS
Debtors	6	830,492		371,325
Cash at bank and in hand		1,233,637		1,125,631

		2,064,129		1,496,956
Creditors: Amounts Falling Due Within One Year	7	(964,807 )		(564,174 )

NET CURRENT ASSETS (LIABILITIES)			1,099,322		932,782

TOTAL ASSETS LESS CURRENT LIABILITIES			1,649,429		1,566,489

Creditors: Amounts Falling Due After More Than One Year	8		(13,710 )		(11,371 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(87,733 )		(86,593 )

NET ASSETS			1,547,986		1,468,525

CAPITAL AND RESERVES
Called up share capital	11		15,000		15,000
Profit and Loss Account			1,532,986		1,453,525

SHAREHOLDERS' FUNDS			1,547,986		1,468,525