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REGISTERED NUMBER: 01351304 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

JAMES TIMMS TRANSPORT LIMITED

JAMES TIMMS TRANSPORT LIMITED (REGISTERED NUMBER: 01351304)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

JAMES TIMMS TRANSPORT LIMITED (REGISTERED NUMBER: 01351304)

BALANCE SHEET

31 MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 386,914 |  | 392,941 |  |

Investment property | 5 | 1,208,266 |  | 1,208,266 |  |

1,595,180 |  | 1,601,207 |  |

CURRENT ASSETS

Stocks | 6 | 8,155 |  | 9,506 |  |

Debtors | 7 | 580,162 |  | 482,486 |  |

Cash at bank and in hand | 155,791 |  | 164,337 |  |

744,108 |  | 656,329 |  |

CREDITORS

Amounts falling due within one year | 8 | 1,041,339 |  | 1,032,587 |  |

NET CURRENT LIABILITIES | (297,231 | ) | (376,258 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,297,949 |  | 1,224,949 |  |

PROVISIONS FOR LIABILITIES | 93,534 |  | 90,099 |  |

NET ASSETS | 1,204,415 |  | 1,134,850 |  |

CAPITAL AND RESERVES

Called up share capital | 232 |  | 232 |  |

Share premium account | 132,528 |  | 132,528 |  |

Retained earnings | 1,071,655 |  | 1,002,090 |  |

SHAREHOLDERS' FUNDS | 1,204,415 |  | 1,134,850 |  |

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.

JAMES TIMMS TRANSPORT LIMITED (REGISTERED NUMBER: 01351304)

BALANCE SHEET - continued

31 MARCH 2025

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 Statement of Income and Retained Earnings has not been delivered.

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

J J Timms - Director

D L Timms - Director

JAMES TIMMS TRANSPORT LIMITED (REGISTERED NUMBER: 01351304)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| James Timms Transport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 01351304

| Registered office: | Kidnams Farm

| School Lane

| Whitminster

| Gloucester

| Gloucestershire

| GL2 7NT

| 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 comprises of the fair value of the consideration receivable and is shown net of value added tax, returns, rebates and discounts.Turnover from services is recognised in the accounting periods in which the services are rendered.

| 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 | - | 10% on cost

| Plant and machinery | - | 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| No depreciation is provided on freehold property as market value is considered to be greater than cost and the property is maintained to a high standard.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

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

| Financial instruments

| Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

JAMES TIMMS TRANSPORT LIMITED (REGISTERED NUMBER: 01351304)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

| Going concern

| The directors have considered the risks and issues concerning the company and its activities, and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have been identified by the directors.

| Provisions

| Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 20 (2024 - 19 ) .

JAMES TIMMS TRANSPORT LIMITED (REGISTERED NUMBER: 01351304)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

4. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Plant and |  | Motor |

| property |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 36,031 |  | 116,652 |  | 859,350 |  | 1,012,033 |  |

| Additions | 1,949 |  | 13,725 |  | 92,500 |  | 108,174 |  |

| Disposals | - |  | - |  | (80,525 | ) | (80,525 | ) |

| At 31 March 2025 | 37,980 |  | 130,377 |  | 871,325 |  | 1,039,682 |  |

| DEPRECIATION

| At 1 April 2024 | 3,485 |  | 69,850 |  | 545,757 |  | 619,092 |  |

| Charge for year | 3,750 |  | 10,036 |  | 76,460 |  | 90,246 |  |

| Eliminated on disposal | - |  | - |  | (56,570 | ) | (56,570 | ) |

| At 31 March 2025 | 7,235 |  | 79,886 |  | 565,647 |  | 652,768 |  |

| NET BOOK VALUE

| At 31 March 2025 | 30,745 |  | 50,491 |  | 305,678 |  | 386,914 |  |

| At 31 March 2024 | 32,546 |  | 46,802 |  | 313,593 |  | 392,941 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024

| and 31 March 2025 | 1,208,266 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,208,266 |  |

| At 31 March 2024 | 1,208,266 |  |

| The investment property was purchased in November 2023 and the directors do not believe there has been a change in value during the period from purchase to accounting year end.

6. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 8,155 |  | 9,506 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 527,964 |  | 445,006 |  |

| Other debtors | 33,750 |  | 34,050 |  |

| Directors' current accounts | 9,034 |  | - |  |

| Prepayments and accrued income | 9,414 |  | 3,430 |  |

580,162 |  | 482,486 |  |

JAMES TIMMS TRANSPORT LIMITED (REGISTERED NUMBER: 01351304)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 805,000 |  | 805,000 |  |

| Trade creditors | 129,947 |  | 96,605 |  |

| Corporation Tax | 24,065 |  | 55,792 |  |

| Social security and other taxes | 15,057 |  | 13,765 |  |

| Wages Control Account | - |  | 135 |  |

| Pensions | 1,227 |  | 2,142 |  |

| VAT | 52,121 |  | 43,765 |  |

| Other creditors | 2,420 |  | 5,632 |  |

| Directors' current accounts | 1,752 |  | 1 |  |

| Accrued expenses | 9,750 |  | 9,750 |  |

1,041,339 |  | 1,032,587 |  |

9. | LEASING AGREEMENTS

| The total minimum lease payments due for operating leases is £1,253,125 (2024: £942,500).

10. | SECURED DEBTS

| There are two outstanding charges over assets held by the company.

| Both charges were registered by HSBC Bank Plc in September 2024 and May 2025. The charges contain a fixed and floating charge over all property and undertakings of the company.

| All previous charges have been satisfied.

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2025 | 2024 |

£ | £ |

| J B S Timms deceased

| Balance outstanding at start of year | - |  | 8,011 |  |

| Amounts advanced | - |  | 129,566 |  |

| Amounts repaid | - |  | (137,577 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

| J J Timms

| Balance outstanding at start of year | - |  | - |  |

| Amounts advanced | 16,983 |  | - |  |

| Amounts repaid | (7,949 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 9,034 |  | - |  |

JAMES TIMMS TRANSPORT LIMITED (REGISTERED NUMBER: 01351304)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

| D L Timms

| Balance outstanding at start of year | - |  | - |  |

| Amounts advanced | 20,293 |  | - |  |

| Amounts repaid | (22,045 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (1,752 | ) | - |  |

| Interest was charged annually at the HMRC approved rate on the overdrawn balance and there are no set repayment terms.