REGISTERED NUMBER: 10156285 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Transportconnect Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H L Rowbotham

N Hilton

J H McNamara

V Strange

REGISTERED OFFICE:

C/o Lincolnshire County Council

Highways Depot, Sheepwash Lane

Barrowby

Grantham

Lincolnshire

NG31 8NX

REGISTERED NUMBER:

10156285 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

330,677

348,458

CURRENT ASSETS

Debtors

5

1,143,201

517,347

Cash at bank

136,536

909,489

1,279,737

1,426,836

CREDITORS

Amounts falling due within one year

6

953,156

1,103,368

NET CURRENT ASSETS

326,581

323,468

TOTAL ASSETS LESS CURRENT LIABILITIES

657,258

671,926

RESERVES

Income and expenditure account

657,258

671,926

657,258

671,926

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 24 September 2025 and were signed on its behalf by:

H L Rowbotham - Director

N Hilton - Director

1.	STATUTORY INFORMATION

Transportconnect Limited is a private company, limited by guarantee , 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" 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

33% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

33% on reducing balance

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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

Rentals paid under operating leases are charged to surplus or deficit 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 141 (2024 - 139 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

23,832

262,174

29,244

Additions

-

3,536

1,560

Disposals

-

(585

)

-

At 31 March 2025

23,832

265,125

30,804

DEPRECIATION

At 1 April 2024

6,934

154,429

21,258

Charge for year

2,383

34,475

2,986

Eliminated on disposal

-

(561

)

-

At 31 March 2025

9,317

188,343

24,244

NET BOOK VALUE

At 31 March 2025

14,515

76,782

6,560

At 31 March 2024

16,898

107,745

7,986

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

847,549

24,587

1,187,386

Additions

132,795

1,963

139,854

Disposals

(156,206

)

-

(156,791

)

At 31 March 2025

824,138

26,550

1,170,449

DEPRECIATION

At 1 April 2024

639,763

16,544

838,928

Charge for year

114,765

3,002

157,611

Eliminated on disposal

(156,206

)

-

(156,767

)

At 31 March 2025

598,322

19,546

839,772

NET BOOK VALUE

At 31 March 2025

225,816

7,004

330,677

At 31 March 2024

207,786

8,043

348,458

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,012,485

55,086

Other debtors

130,716

462,261

1,143,201

517,347

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

155,958

180,518

Taxation and social security

239,499

191,614

Other creditors

557,699

731,236

953,156

1,103,368

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

48,750

48,750

Between one and five years

66,000

114,750

114,750

163,500

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

LCC Rolling credit facility

-

150,000

The LCC Rolling credit facility and the LCC Loans are secured by way of first floating charge on all the undertaking property, assets, equipment and rights of the borrower at any time not effectively mortgaged, charged or assigned.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Shaw FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

10.	POST BALANCE SHEET EVENTS

Following the year end, the company has not renewed a key contract with a customer. The loss of this contract is likely to have a substantial effect on the turnover of the company in the following financial year, however the directors are actively working to control and reduce costs accordingly, to mitigate the effects on the profitability of the business. The Directors hope that the loss of this contract will not have an ongoing adverse effect to the business, or its ability to continue to operate as a going concern.

11.	ULTIMATE CONTROLLING PARTY

The ultimate parent is Lincolnshire County Council, County Offices, Newland, Lincoln, LN1 1YL.

12.	SHARE CAPITAL

The company is limited by guarantee.