REGISTERED NUMBER: 01738399 (England and Wales)

Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 28 February 2026

for

Cullingworth Commercials and Freight

Services Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTOR:

R D Feather

SECRETARY:

R D Feather

REGISTERED OFFICE:

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

REGISTERED NUMBER:

01738399 (England and Wales)

AUDITORS:

Franklins Accountancy Audit & Tax Limited

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

The director presents his strategic report of the company and the group for the year ended 28 February 2026.

REVIEW OF BUSINESS

The group turnover has decreased in the year to £36.48 million from £59.26 million. The operating profit of the group has decreased to £5.73 million from £5.89 million. The director is pleased with the results for the year.

PRINCIPAL RISKS AND UNCERTAINTIES

The trading performance to date in the year to 28th February 2026 has been in line with the directors expectations.

The director is satisfied that there are no significant material risks to the business outside those normally associated with the nature of the haulage industry.

The director believes that along with all other businesses in the UK the current global energy and cost of living crisis could have a potentially negative impact on the business, the extent of which is however currently difficult to quantify. However, the director believes that due to the strong financial position of the company and the fact that the director would move quickly to mitigate any risks arising to the company from increases in expenditure, by continually reviewing the position and adjusting prices to customers, particularly of a subsidiary entity, then the company is sufficiently insulated from these risks.

The director therefore concludes the going concern basis for the preparation of the financial statements is appropriate.

ON BEHALF OF THE BOARD:

R D Feather - Director

7 October 2026

The director presents his report with the financial statements of the company and the group for the year ended 28 February 2026.

PRINCIPAL ACTIVITIES

The principal activities of the group in the year under review were those of haulage contractors, wholesale poultry sales, commercial vehicle repairers and tyre sales, as well as the making and holding of investments.

DIVIDENDS

No dividends will be distributed for the year ended 28 February 2026.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR

R D Feather held office during the whole of the period from 1 March 2025 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

Various charitable donations have been made in the year amounting to £25,476.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he 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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

R D Feather - Director

7 October 2026

Opinion

We have audited the financial statements of Cullingworth Commercials and Freight Services Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 2026 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 28 February 2026 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge of the haulage industry, the poultry industry and the investment property market

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the DVSA issued Operators Licence, the Vehicle & Operator Services Agency (VOSA), the Driver & Vehicle Licensing Agency (DVLA), the Animal Welfare Agency, the Health and Safety Executive (HSE), the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment and environmental legislation, as well as lettings legislation and safety regulations.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting appropriate correspondence.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

Where we identified legislation or regulation of particular relevance to the entity, in conjunction with other audit testing, we considered the sufficiency and appropriateness of audit evidence obtained regarding the compliance with that legislation, or regulation, and any consequential risk of material misstatements in the financial statements.

However it must be noted that it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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.

James Richardson (Senior Statutory Auditor)

for and on behalf of Franklins Accountancy Audit & Tax Limited

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

7 October 2026

TURNOVER

4

36,475,888

59,258,599

Cost of sales

29,568,792

51,359,250

GROSS PROFIT

6,907,096

7,899,349

Administrative expenses

3,335,882

3,781,608

3,571,214

4,117,741

Other operating income

2,156,474

1,769,226

OPERATING PROFIT

6

5,727,688

5,886,967

Interest receivable and similar income

658,854

944,130

6,386,542

6,831,097

Interest payable and similar expenses

7

151,686

87,499

PROFIT BEFORE TAXATION

6,234,856

6,743,598

Tax on profit

8

1,600,806

1,737,421

PROFIT FOR THE FINANCIAL YEAR

4,634,050

5,006,177

Profit attributable to:

Owners of the parent

4,634,050

5,006,177

PROFIT FOR THE YEAR

4,634,050

5,006,177

OTHER COMPREHENSIVE INCOME

Fair value (losses)/gains on investment

properties

112,917

(4,049,072

)

Fair value gains on unlisted investments

(19,042

)

(30,799

)

Other distribution

Deferred tax adjustment

141,797

-

Income tax relating to components of other comprehensive income

(23,468

)

1,019,968

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

212,204

(3,059,903

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

4,846,254

1,946,274

Total comprehensive income attributable to:

Owners of the parent

4,846,254

1,946,274

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

7,557,917

7,706,464

Investments

12

1,129,672

1,041,419

Investment property

13

13,607,371

14,281,300

22,294,960

23,029,183

CURRENT ASSETS

Stocks

14

496,130

367,158

Debtors

15

13,320,667

13,245,413

Cash at bank and in hand

16,897,360

13,842,963

30,714,157

27,455,534

CREDITORS

Amounts falling due within one year

16

5,922,124

8,071,987

NET CURRENT ASSETS

24,792,033

19,383,547

TOTAL ASSETS LESS CURRENT LIABILITIES

47,086,993

42,412,730

PROVISIONS FOR LIABILITIES

17

1,772,755

1,944,746

NET ASSETS

45,314,238

40,467,984

CAPITAL AND RESERVES

Called up share capital

18

29,588

29,588

Other reserves

19

100

100

Non-distributable reserve

19

2,062,105

2,140,035

Retained earnings

19

43,222,445

38,298,261

SHAREHOLDERS' FUNDS

45,314,238

40,467,984

The financial statements were approved by the director and authorised for issue on 7 October 2026 and were signed by:

R D Feather - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

7,540,958

7,683,221

Investments

12

5,923,539

5,835,286

Investment property

13

5,107,371

5,781,300

18,571,868

19,299,807

CURRENT ASSETS

Stocks

14

228,765

-

Debtors

15

7,766,211

6,989,324

Cash at bank and in hand

13,440,829

9,425,849

21,435,805

16,415,173

CREDITORS

Amounts falling due within one year

16

2,592,357

3,443,851

NET CURRENT ASSETS

18,843,448

12,971,322

TOTAL ASSETS LESS CURRENT LIABILITIES

37,415,316

32,271,129

PROVISIONS FOR LIABILITIES

17

958,423

1,129,021

NET ASSETS

36,456,893

31,142,108

CAPITAL AND RESERVES

Called up share capital

18

29,588

29,588

Other reserves

19

100

100

Non-distributable reserve

19

(375,395

)

(297,465

)

Retained earnings

19

36,802,600

31,409,885

SHAREHOLDERS' FUNDS

36,456,893

31,142,108

Company's profit for the financial year

5,102,581

2,172,834

The financial statements were approved by the director and authorised for issue on 7 October 2026 and were signed by:

R D Feather - Director

Called up

share

Retained

Other

Non-distributable

Total

capital

earnings

reserves

reserve

equity

£

£

£

£

£

Balance at 1 March 2024

29,588

33,292,084

100

5,199,938

38,521,710

Changes in equity

Total comprehensive income

-

5,006,177

-

(3,059,903

)

1,946,274

Balance at 28 February 2025

29,588

38,298,261

100

2,140,035

40,467,984

Changes in equity

Total comprehensive income

-

4,924,184

-

(77,930

)

4,846,254

Balance at 28 February 2026

29,588

43,222,445

100

2,062,105

45,314,238

Called up

share

Retained

Other

Non-distributable

Total

capital

earnings

reserves

reserve

equity

£

£

£

£

£

Balance at 1 March 2024

29,588

29,237,051

100

(242,324

)

29,024,415

Changes in equity

Total comprehensive income

-

2,172,834

-

(55,141

)

2,117,693

Balance at 28 February 2025

29,588

31,409,885

100

(297,465

)

31,142,108

Changes in equity

Total comprehensive income

-

5,392,715

-

(77,930

)

5,314,785

Balance at 28 February 2026

29,588

36,802,600

100

(375,395

)

36,456,893

Cash flows from operating activities

Cash generated from operations

1

5,852,824

6,548,464

Interest paid

(151,686

)

(87,499

)

Tax paid

(1,972,724

)

(1,392,160

)

Net cash from operating activities

3,728,414

5,068,805

Cash flows from investing activities

Purchase of tangible fixed assets

(1,232,282

)

(1,834,230

)

Purchase of fixed asset investments

(421,485

)

(102,900

)

Purchase of investment property

-

(334,476

)

Sale of tangible fixed assets

91,483

416,139

Sale of fixed asset investments

(110,029

)

16,738

Sale of investment property

786,846

291,621

Interest received

658,854

944,130

Net cash from investing activities

(226,613

)

(602,978

)

Cash flows from financing activities

Capital repayments in year

-

(17,194

)

Amount introduced by directors

-

3,953

Amount withdrawn by directors

(447,404

)

(1,318,372

)

Net cash from financing activities

(447,404

)

(1,331,613

)

Increase in cash and cash equivalents

3,054,397

3,134,214

Cash and cash equivalents at beginning of year

2

13,842,963

10,708,749

Cash and cash equivalents at end of year

2

16,897,360

13,842,963

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

2026

2025

£

£

Profit before taxation

6,234,856

6,743,598

Depreciation charges

1,223,334

1,222,244

Loss on disposal of fixed assets

490,231

49,348

Loss on revaluation of fixed assets

-

207,278

Finance costs

151,686

87,499

Finance income

(658,854

)

(944,130

)

7,441,253

7,365,837

(Increase)/decrease in stocks

(128,972

)

49,923

Increase in trade and other debtors

(166,318

)

(1,637,513

)

(Decrease)/increase in trade and other creditors

(1,293,139

)

770,217

Cash generated from operations

5,852,824

6,548,464

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 28 February 2026

28.2.26

1.3.25

£

£

Cash and cash equivalents

16,897,360

13,842,963

Year ended 28 February 2025

28.2.25

1.3.24

£

£

Cash and cash equivalents

13,842,963

10,708,749

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.25

Cash flow

At 28.2.26

£

£

£

Net cash

Cash at bank and in hand

13,842,963

3,054,397

16,897,360

13,842,963

3,054,397

16,897,360

Total

13,842,963

3,054,397

16,897,360

1.	STATUTORY INFORMATION

Cullingworth Commercials and Freight 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 General 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.

Basis of consolidation

The consolidated financial statements include the results of the company and its subsidiary undertakings (the 'group') as if they formed a single entity. Intercompany balances and transactions are therefore eliminated in full. The results of the subsidiary undertakings are included in the consolidated profit and loss account from the date that control commences until the date that control ceases. Control is established when the company has the power to govern the operating and financial policies of an entity so as to obtain benefits from its activities. In assessing control, the group takes into consideration potential voting rights that are currently exercisable.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

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

The company recognises turnover when the amount of turnover can be reliably measured, and it is probable that future economic benefits can be reliably measured, and it is probable that future economic benefits will flow to the entity. Turnover from the sale of goods is recognised when the risks and rewards of ownership are transferred to the customer. Turnover from services is recognised in the accounting periods in which the services are rendered.

Goodwill

Goodwill arose on the consolidation of the group accounts following the purchase of Air Buildings Limited in August 2010. In accordance with Financial Reporting Standard 102, the goodwill value has been amortised evenly over its estimated useful life and has been amortised in full by the year end.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property & improvements

-

15% on reducing balance and 2% on cost

Plant and fixtures

-

25% on reducing balance and 20% on cost

Motor vehicles

-

25% on reducing balance

Office equipment

-

15% on reducing balance

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and included in the non-distributable reserve.