REGISTERED NUMBER: 02533169 (England and Wales)

ALLELYS HEAVY HAULAGE LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

D J Allely

P C Allely

R M Allely

SECRETARY:

D J Allely

REGISTERED OFFICE:

Benavon

The Slough

Studley

Warwickshire

B80 7EN

REGISTERED NUMBER:

02533169 (England and Wales)

AUDITORS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

The directors present their strategic report for the year ended 28 February 2025.

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

REVIEW OF BUSINESS

The results for the year,as set out on page 7, show a profit on ordinary activities of £234,427 (2024 £68,807). The total shareholders' funds have increased to £2,745,182 (2024 £2,510,755).

PRINCIPAL RISKS AND UNCERTAINTIES

Tough economic conditions continue, together with the uncertainties regarding the United Kingdom leaving the European Union, & along with the United Kingdom "cost of living crisis" recession with bank interest rates remaining at a constant high for the past 12 months period of trading.

FINANCIAL KEY PERFORMANCE INDICATORS

The group has established and recognised key performance indicators to measure progress in achieving its key business objectives and strategies; these are reviewed on a regular basis.

FUTURE DEVELOPMENTS

The directors pride themselves on the strong relationships that they have developed with their customers and supply chain. As a result, the directors feel that they are well placed to take advantage of the future opportunities during the coming year.

ON BEHALF OF THE BOARD:

D J Allely - Director

11 July 2025

The directors present their report with the financial statements of the company for the year ended 28 February 2025.

DIVIDENDS

No dividends will be distributed for the year ended 28 February 2025.

DIRECTORS

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

D J Allely

P C Allely

R M Allely

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

AUDITORS

The auditors, Charles Lovell & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Allely - Director

11 July 2025

Opinion

We have audited the financial statements of Allelys Heavy Haulage Limited (the 'company') for the year ended 28 February 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 28 February 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 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 three, 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 objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the nature of the industry and the sector in which they operate. We determined that the following laws and regulations were most significant; the Companies Act 2006, the UK Corporate Governance Code and UK corporate taxation laws.

- We obtained an understanding of how the Company are complying with those legal and regulatory frameworks by making inquiries with the management of the Company and the Company's audit department.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the Audit engagement team included:

- identifying and assessing the design effectiveness of controls that management has in place to

prevent and detect fraud.

- Understanding how those charged with governance considered and addressed the potential for

override of controls or other inappropriate influence over the financial reporting process.

- challenging assumptions and judgements made by management in its significant accounting

estimates.

- identifying and testing journal enteries and performing analytical procedures to identify any unusual

or unexpected relationships that may indicate risks of material misstatement due to fraud.

- assessing the extent of compliance with the relevant laws and regulations.

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

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.

John Thomas Harris (Senior Statutory Auditor)

for and on behalf of Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

11 July 2025

REVENUE

33,679,447

26,188,093

Cost of sales

29,073,975

22,835,977

GROSS PROFIT

4,605,472

3,352,116

Distribution costs

731,525

486,911

Administrative expenses

3,560,876

2,776,002

4,292,401

3,262,913

OPERATING PROFIT

4

313,071

89,203

Interest receivable and similar income

4

4

PROFIT BEFORE TAXATION

313,075

89,207

Tax on profit

5

78,648

20,400

PROFIT FOR THE FINANCIAL YEAR

234,427

68,807

PROFIT FOR THE YEAR

234,427

68,807

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

234,427

68,807

CURRENT ASSETS

Debtors

6

11,833,228

9,991,168

Cash at bank and in hand

657,035

112,299

12,490,263

10,103,467

CREDITORS

Amounts falling due within one year

7

9,745,081

7,592,712

NET CURRENT ASSETS

2,745,182

2,510,755

TOTAL ASSETS LESS CURRENT LIABILITIES

2,745,182

2,510,755

CAPITAL AND RESERVES

Called up share capital

10

24

24

Retained earnings

11

2,745,158

2,510,731

SHAREHOLDERS' FUNDS

2,745,182

2,510,755

The financial statements were approved by the Board of Directors and authorised for issue on 11 July 2025 and were signed on its behalf by:

D J Allely - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 March 2023

24

2,441,924

2,441,948

Changes in equity

Total comprehensive income

-

68,807

68,807

Balance at 29 February 2024

24

2,510,731

2,510,755

Changes in equity

Total comprehensive income

-

234,427

234,427

Balance at 28 February 2025

24

2,745,158

2,745,182

Cash flows from operating activities

Cash generated from operations

1

255,724

(1,021,274

)

Tax paid

(20,400

)

-

Net cash from operating activities

235,324

(1,021,274

)

Cash flows from investing activities

Interest received

4

4

Net cash from investing activities

4

4

Cash flows from financing activities

Intercompany loans in year

(794,305

)

827,051

Amounts to participating

(252

)

(288

)

Invoice discounting

1,103,965

34,976

Net cash from financing activities

309,408

861,739

Increase/(decrease) in cash and cash equivalents

544,736

(159,531

)

Cash and cash equivalents at beginning of year

2

112,299

271,830

Cash and cash equivalents at end of year

2

657,035

112,299

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

28.2.25

29.2.24

£

£

Profit before taxation

313,075

89,207

Finance income

(4

)

(4

)

313,071

89,203

Increase in trade and other debtors

(1,447,440

)

(3,062,253

)

Increase in trade and other creditors

1,390,093

1,951,776

Cash generated from operations

255,724

(1,021,274

)

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 2025

28.2.25

1.3.24

£

£

Cash and cash equivalents

657,035

112,299

Year ended 29 February 2024

29.2.24

1.3.23

£

£

Cash and cash equivalents

112,299

271,830

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.3.24

Cash flow

At 28.2.25

£

£

£

Net cash

Cash at bank and in hand

112,299

544,736

657,035

112,299

544,736

657,035

Debt

Debts falling due within 1 year

(996,812

)

(1,103,965

)

(2,100,777

)

(996,812

)

(1,103,965

)

(2,100,777

)

Total

(884,513

)

(559,229

)

(1,443,742

)

1.	STATUTORY INFORMATION

Allelys Heavy Haulage 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.

Turnover

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

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.

3.	EMPLOYEES AND DIRECTORS

28.2.25

29.2.24

£

£

Wages and salaries

5,705,897

4,439,383

Other pension costs

221,830

164,940

5,927,727

4,604,323

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

28.2.25

29.2.24

Drivers

13

12

Second men

12

11

Mechanics

19

12

Installations

4

6

Management and clerical

36

32

84

73

28.2.25

29.2.24

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

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

28.2.25

29.2.24

£

£

Auditors' remuneration

8,000

8,000

Foreign exchange differences

(1,945

)

4,253

5.

TAXATION

Analysis of the tax charge

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

28.2.25

29.2.24

£

£

Current tax:

UK corporation tax

78,648

20,400

Tax on profit

78,648

20,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

8,618,149

7,191,658

Amounts owed by group undertakings

3,154,405

2,759,785

Other debtors

11,729

837

Prepayments and accrued income

48,945

38,888

11,833,228

9,991,168

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Other loans (see note 8)

2,100,777

996,812

Trade creditors

2,856,684

2,313,129

Amounts owed to group undertakings

3,144,235

3,543,920

Amounts owed to participating interests

324

576

Tax

78,648

20,400

Social security and other taxes

171,234

109,820

Other creditors

1,223,340

421,715

Accruals and deferred income

169,839

186,340

9,745,081

7,592,712

8.

LOANS

An analysis of the maturity of loans is given below:

28.2.25

29.2.24

£

£

Amounts falling due within one year or on demand:

Invoice discounting

2,100,777

996,812

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Invoice discounting

2,100,777

996,812

Lloyds Bank Commercial Finance Limited have a fixed and floating charge over all the property of the company dated 7th March 2019.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

24

Ordinary

£1

24

24

11.

RESERVES

Retained

earnings

£

At 1 March 2024

2,510,731

Profit for the year

234,427

At 28 February 2025

2,745,158

12.	CONTINGENT LIABILITIES

During the financial year to 28 February 2025 and as at the audit report signing date, an investigation by the Health and Safety Executive is currently under way. This is relating to failings of health and safety during the main activity of the business, and resulting in life altering changes to an employee.

Allelys Heavy Haulage Limited expect the report of the findings by the Health and Safety Executive to take up to two years to be published, and any associated penalty to the company to be around £400,000 to £500,000.