REGISTERED NUMBER: 00420394 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GEO SIDDALL (TRANSPORT) LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

R E Waters

J A A Waters

C E Waters

J G Waters

SECRETARY:

C D Woodhouse

REGISTERED OFFICE:

Bridge Garage

South Darley

Matlock

Derbyshire

DE4 2JY

REGISTERED NUMBER:

00420394 (England and Wales)

AUDITORS:

Mabe Allen LLP

Chartered Accountants

Statutory Auditors

50 Osmaston Road

Derby

DE1 2HU

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of haulage contractors.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

R E Waters

J A A Waters

C E Waters

J G Waters

The directors shareholdings in the parent company B J Waters (Transport) Limited are disclosed below:

31.03.25

31.03.24

Ordinary

Ordinary B

Ordinary

Ordinary B

J G Waters and R E Waters

517

250

517

250

J A A Waters and C E Waters

517

250

517

250

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing 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, Mabe Allen LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

By order of the Board

C D Woodhouse - Secretary

25 November 2025

Opinion

We have audited the financial statements of Geo Siddall (Transport) Limited (the 'company') for the year ended 31 March 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 March 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 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; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- The nature of the industry and sector, control environment and business performance including targets for income and net profit;

- Results of our enquiries of management and the directors about their own identification and assessment of the risks of irregularities;

- Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

- Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance, including any related to the General Data Protection Regulations or Bribery Act 2010.

- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- The internal controls to mitigate risks of fraud or non-compliance with laws and regulations;

- The matters discussed among the audit engagement team and including relevant internal tax specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the ability of management to manipulate revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006 and the Financial Reporting Standard 102.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These include The General Data Protection Regulations, the Bribery Act 2010, Health and Safety policies, compliance with the Driver and Vehicle Licensing Agency standards and Fleet Operator Recognition Scheme accreditation.

Audit Response to Risks Identified

Our procedures to respond to risks identified above include the following:

- Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements:

- Enquiring of management and directors concerning actual and potential litigation and claims;

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- in addressing the fraud risk in revenue recognition at an analytical review level, we developed an expectation of the revenue with reference to our experience of the client and discussions on the recognition and volatility of revenue in the year ; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rational of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

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.

Kevin Slack FCA (Senior Statutory Auditor)

for and on behalf of Mabe Allen LLP

Chartered Accountants

Statutory Auditors

50 Osmaston Road

Derby

DE1 2HU

25 November 2025

TURNOVER

3

5,850,534

5,326,337

Cost of sales

4,603,070

4,258,052

GROSS PROFIT

1,247,464

1,068,285

Administrative expenses

554,899

524,485

692,565

543,800

Other operating income

-

2,539

OPERATING PROFIT

5

692,565

546,339

Interest receivable and similar income

41,433

44,760

733,998

591,099

Interest payable and similar expenses

7

54,580

20,499

PROFIT BEFORE TAXATION

679,418

570,600

Tax on profit

8

169,381

142,654

PROFIT FOR THE FINANCIAL YEAR

510,037

427,946

PROFIT FOR THE YEAR

510,037

427,946

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

510,037

427,946

FIXED ASSETS

Tangible assets

10

3,675,468

2,419,837

CURRENT ASSETS

Stocks

11

3,251

2,607

Debtors

12

1,276,176

1,161,465

Cash at bank

1,769,258

1,665,291

3,048,685

2,829,363

CREDITORS

Amounts falling due within one year

13

1,026,101

819,935

NET CURRENT ASSETS

2,022,584

2,009,428

TOTAL ASSETS LESS CURRENT LIABILITIES

5,698,052

4,429,265

CREDITORS

Amounts falling due after more than one year

14

(802,737

)

(204,263

)

PROVISIONS FOR LIABILITIES

18

(492,639

)

(332,363

)

NET ASSETS

4,402,676

3,892,639

CAPITAL AND RESERVES

Called up share capital

19

15,000

15,000

Other reserves

20

135

135

Retained earnings

20

4,387,541

3,877,504

SHAREHOLDERS' FUNDS

4,402,676

3,892,639

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

J A A Waters - Director

R E Waters - Director

Called up

share

Retained

Other

Total

capital

earnings

reserves

equity

£

£

£

£

Balance at 1 April 2023

15,000

3,489,358

135

3,504,493

Changes in equity

Dividends

-

(39,800

)

-

(39,800

)

Total comprehensive income

-

427,946

-

427,946

Balance at 31 March 2024

15,000

3,877,504

135

3,892,639

Changes in equity

Total comprehensive income

-

510,037

-

510,037

Balance at 31 March 2025

15,000

4,387,541

135

4,402,676

Cash flows from operating activities

Cash generated from operations

1

1,206,242

923,913

Interest element of hire purchase payments paid

(54,580

)

(20,499

)

Net cash from operating activities

1,151,662

903,414

Cash flows from investing activities

Purchase of tangible fixed assets

(1,874,600

)

(1,145,230

)

Sale of tangible fixed assets

87,750

12,500

Loan advance from parent

(12,645

)

-

Loan advance to parent

-

51,651

Interest received

41,433

44,760

Net cash from investing activities

(1,758,062

)

(1,036,319

)

Cash flows from financing activities

Capital repayments in year

710,367

594,974

Equity dividends paid

-

(39,800

)

Net cash from financing activities

710,367

555,174

Increase in cash and cash equivalents

103,967

422,269

Cash and cash equivalents at beginning of year

2

1,665,291

1,243,022

Cash and cash equivalents at end of year

2

1,769,258

1,665,291

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

31.3.25

31.3.24

£

£

Profit before taxation

679,418

570,600

Depreciation charges

535,010

461,843

Profit on disposal of fixed assets

(3,791

)

(151

)

Finance costs

54,580

20,499

Finance income

(41,433

)

(44,760

)

1,223,784

1,008,031

(Increase)/decrease in stocks

(644

)

9,000

Increase in trade and other debtors

(114,711

)

(19,726

)

Increase/(decrease) in trade and other creditors

97,813

(73,392

)

Cash generated from operations

1,206,242

923,913

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 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

1,769,258

1,665,291

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

1,665,291

1,243,022

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

1,665,291

103,967

1,769,258

1,665,291

103,967

1,769,258

Debt

Finance leases

(594,974

)

(71,031

)

(666,005

)

Debts falling due within 1 year

-

(26,833

)

(26,833

)

Debts falling due after 1 year

-

(612,501

)

(612,501

)

(594,974

)

(710,365

)

(1,305,339

)

Total

1,070,317

(606,398

)

463,919

1.	STATUTORY INFORMATION

Geo Siddall (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.

The presentation currency of these financial statements is sterling. All amounts in the financial statements have been rounded to the nearest £1.

Judgements made by the directors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed in the "Accounting estimates and judgements" policy.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents the amounts receivable for services provided to third parties in the normal course of business net of discounts, rebates, value added tax and other sales taxes.

Revenue from services is recognised when services have been provided and the right to consideration has been earned. If services have been provided to third parties but no billing has been made, estimates are made of the amounts receivable. These estimates are based on the nature of services supplied and the contract terms.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original price of the asset and the costs attributable to bringing the asset into its working condition.

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

- Plant and equipment - 15% on reducing balance

- Motor lorries - 6 year straight line with 10% residual value, Trailers - 10% reducing balance

- Other vehicles - 20% on reducing balance

- Office equipment - 15% on reducing balance

- Assets in the course of construction - These assets are not depreciated until they are available for use and are reviewed for impairment at each reporting date.

Stocks

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

Net realisable value is the estimated or actual selling price less all further costs to be incurred to completion and disposal.

Basic financial instruments

Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

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

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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

An impairment loss is reversed if and only if the reasons for the impairment have ceased to apply.

Impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

Provisions

A provision is recognised in the balance sheet when the Group has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Where the Company enters into financial guarantee contracts to guarantee the indebtedness of other companies within its Group, the Company treats the guarantee contract as a contingent liability until such time as it becomes probable that the Company will be required to make a payment under the guarantee.

Accounting estimates and judgements

Key sources of estimation uncertainty

The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying the values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are discussed below.

Critical accounting judgements in applying the company's accounting policies

Depreciation of Fixed Assets

The company has recognised depreciation of fixed assets in its financial statements which require management to make judgements concerning the useful life of assets and residual values. The judgements are based on a combination of company policies, historical experience and other reasonable factors.

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:

31.3.25

31.3.24

£

£

United Kingdom

5,850,534

5,323,087

Europe

-

3,250

5,850,534

5,326,337

4.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

1,597,895

1,468,359

Social security

162,004

148,726

Pension

34,523

32,325

1,794,422

1,649,410

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

31.3.25

31.3.24

Driving

40

38

Administration and sales

4

4

31.3.25

31.3.24

£

£

Directors' remuneration

-

-

5.	OPERATING PROFIT

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

31.3.25

31.3.24

£

£

Depreciation - owned assets

366,668

394,565

Depreciation - assets on hire purchase contracts

168,342

67,278

Profit on disposal of fixed assets

(3,791

)

(151

)

6.	AUDITORS' REMUNERATION

31.3.25

31.3.24

£

£

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

8,460

8,040

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.25

31.3.24

£

£

Finance lease and HP interest

54,580

20,499

8.

TAXATION

Analysis of the tax charge

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

31.3.25

31.3.24

£

£

Current tax:

UK corporation tax

9,105

-

Deferred tax

160,276

142,654

Tax on profit

169,381

142,654

UK corporation tax was charged at 25%) in 2024.