REGISTERED NUMBER: 06108655 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Tim's Transport Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

T Cox

Mrs R Cox

REGISTERED OFFICE:

Unit 5 Barn Farm Business Park

Tewkesbury Road

Norton

Gloucester

Gloucestershire

GL2 9LH

REGISTERED NUMBER:

06108655 (England and Wales)

ACCOUNTANTS:

HATS Gloucester Ltd

48 Hucclecote Road

Gloucester

Gloucestershire

GL3 3RS

BANKERS:

HSBC

2 The Promenade

Cheltenham

GL50 1LR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

150,735

124,699

150,735

124,699

CURRENT ASSETS

Debtors

6

749,080

460,658

Cash at bank and in hand

211,388

232,256

960,468

692,914

CREDITORS

Amounts falling due within one year

7

775,351

581,929

NET CURRENT ASSETS

185,117

110,985

TOTAL ASSETS LESS CURRENT LIABILITIES

335,852

235,684

CREDITORS

Amounts falling due after more than one year

8

(335,399

)

(142,666

)

PROVISIONS FOR LIABILITIES

-

(3,058

)

NET ASSETS

453

89,960

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

451

89,958

SHAREHOLDERS' FUNDS

453

89,960

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 9 September 2025 and were signed on its behalf by:

T Cox - Director

1.	STATUTORY INFORMATION

Tim's Transport Ltd 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" 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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.

Rentals paid under operating leases are charged to profit or loss 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 60 (2024 - 73 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 April 2024

and 31 March 2025

400,000

Amortisation

At 1 April 2024

and 31 March 2025

400,000

Net book value

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 April 2024

195,541

23,357

129,022

347,920

Additions

-

-

78,250

78,250

Disposals

(12,500

)

-

(2,793

)

(15,293

)

At 31 March 2025

183,041

23,357

204,479

410,877

Depreciation

At 1 April 2024

139,916

18,301

65,004

223,221

Charge for year

13,808

1,264

35,175

50,247

Eliminated on disposal

(12,104

)

-

(1,222

)

(13,326

)

At 31 March 2025

141,620

19,565

98,957

260,142

Net book value

At 31 March 2025

41,421

3,792

105,522

150,735

At 31 March 2024

55,625

5,056

64,018

124,699

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 April 2024

94,825

68,894

163,719

Additions

-

58,750

58,750

At 31 March 2025

94,825

127,644

222,469

Depreciation

At 1 April 2024

44,782

30,141

74,923

Charge for year

12,511

24,376

36,887

At 31 March 2025

57,293

54,517

111,810

Net book value

At 31 March 2025

37,532

73,127

110,659

At 31 March 2024

50,043

38,753

88,796

6.

DEBTORS

31/3/25

31/3/24

£

£

Amounts falling due within one year:

Trade debtors

557,322

352,733

Other debtors

166,172

82,339

723,494

435,072

31/3/25

31/3/24

£

£

Amounts falling due after more than one year:

Other debtors

25,586

25,586

Aggregate amounts

749,080

460,658

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

56,945

10,000

Hire purchase contracts (see note 9)

37,098

27,968

Trade creditors

318,854

185,957

Taxation and social security

309,889

274,531

Other creditors

52,565

83,473

775,351

581,929

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans

-

12,439

Hire purchase contracts (see note 9)

71,751

65,245

Other creditors

263,648

64,982

335,399

142,666

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31/3/25

31/3/24

£

£

Net obligations repayable:

Within one year

37,098

27,968

Between one and five years

71,751

65,245

108,849

93,213

Non-cancellable

operating leases

31/3/25

31/3/24

£

£

Within one year

1,246

1,246

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31/3/25

31/3/24

£

£

Mrs R Cox and T Cox

Balance outstanding at start of year

77,815

54,087

Amounts advanced

197,325

201,056

Amounts repaid

(109,098

)

(177,328

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

166,042

77,815

Interest is charged on the above loan to the directors, included within other debtors at the HM Revenue and Customs official rate of interest. Interest of £2,713 (2024 - £1,467) was charged during the year. After the year end the directors repaid the company £100,000.

11.	RELATED PARTY DISCLOSURES

The directors, T Cox and Mrs R Cox, have personally guaranteed the company's overdraft facility, Funding Circle and Lending Crowd loans.