REGISTERED NUMBER: 05219111 (England and Wales)

W.R. CARTER AND SONS (TRANSPORT) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

B Carter

A J Carter

SECRETARY:

B Carter

REGISTERED OFFICE:

The Bungalow

Lincoln Road

Owmby By Spital

Market Rasen

Lincolnshire

LN8 2DA

REGISTERED NUMBER:

05219111 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

985,591

857,760

CURRENT ASSETS

Stocks

10,576

6,792

Debtors

5

243,478

250,701

Cash at bank

12,632

15,857

266,686

273,350

CREDITORS

Amounts falling due within one year

6

368,714

490,389

NET CURRENT LIABILITIES

(102,028

)

(217,039

)

TOTAL ASSETS LESS CURRENT LIABILITIES

883,563

640,721

CREDITORS

Amounts falling due after more than one year

7

(422,985

)

(239,807

)

PROVISIONS FOR LIABILITIES

(150,597

)

(126,625

)

NET ASSETS

309,981

274,289

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

309,881

274,189

SHAREHOLDERS' FUNDS

309,981

274,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

B Carter - Director

A J Carter - Director

1.	STATUTORY INFORMATION

W.R. Carter and Sons (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.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from haulage services is recognised by reference to the stage of completion at the statement of financial position date. Stage of completion is measured by reference to point of delivery.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance, 10% on cost and Straight line over 7 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position. 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 shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2024

190,447

1,237,050

1,427,497

Additions

-

371,918

371,918

Disposals

-

(267,500

)

(267,500

)

At 31 January 2025

190,447

1,341,468

1,531,915

DEPRECIATION

At 1 February 2024

5,661

564,076

569,737

Charge for year

629

166,947

167,576

Eliminated on disposal

-

(190,989

)

(190,989

)

At 31 January 2025

6,290

540,034

546,324

NET BOOK VALUE

At 31 January 2025

184,157

801,434

985,591

At 31 January 2024

184,786

672,974

857,760

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

186,366

191,461

Other debtors

57,112

59,240

243,478

250,701

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

49,918

209,807

Hire purchase contracts

142,521

118,223

Trade creditors

71,824

60,059

Taxation and social security

64,639

57,123

Other creditors

39,812

45,177

368,714

490,389

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

90,317

-

Hire purchase contracts

332,668

239,807

422,985

239,807

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

50,950

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank overdrafts

40,076

93,477

Bank loans

100,159

116,330

Hire purchase contracts

475,189

358,030

615,424

567,837

There are fixed and floating charges over the undertakings and all property and assets of the company held by National Westminster Bank PLC and RBS Invoice Finance Limited.

Hire purchase contracts are secured on the assets to which the agreements relate.

9.	CALLED UP SHARE CAPITAL

Allotted:

Number:

Class:

Nominal

2025

2024

value

£

£

52

Ordinary A

£1

52

52

5

Ordinary B

£1

5

5

38

Ordinary C

£1

38

38

5

Ordinary D

£1

5

5

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have a directors loan account totalling £34,345 brought forward (2024: £24,638). During the year, the directors of the company borrowed £57,314 (2024: £57,667) from the company and repaid £56,792 (2024: £47,960). Interest of £609 was charged and the balance at the end of the year totalled £35,475 overdrawn (2024: £34,345 overdrawn).