Registration number: 01015925

R Sinclair Transport Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 11

R Sinclair Transport Limited

Company Information

Directors

D A Sinclair T Sinclair N J Sinclair S J Sinclair

Company secretary

N J Sinclair

Registered office

Enterprise Way Vale Business Park Evesham Worcestershire United Kingdom WR11 1AD

Accountants

Clement Rabjohns Limited Chartered Accountants111/113 High Street Evesham Worcestershire WR11 4XP

R Sinclair Transport Limited

(Registration number: 01015925)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	8,664,286	9,019,380
Current assets
Stocks	5	27,732	8,619
Debtors	6	715,947	990,433
Cash at bank and in hand		769,393	502,288
		1,513,072	1,501,340
Creditors: Amounts falling due within one year	7	(1,457,563)	(1,795,385)
Net current assets/(liabilities)		55,509	(294,045)
Total assets less current liabilities		8,719,795	8,725,335
Provisions for liabilities		(1,377,760)	(1,396,325)
Net assets		7,342,035	7,329,010
Capital and reserves
Called up share capital	8	62,001	62,001
Revaluation reserve		2,472,799	2,503,315
Retained earnings		4,807,235	4,763,694
Shareholders' funds		7,342,035	7,329,010

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 December 2025 and signed on its behalf by:
 

......................................... S J Sinclair Director

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales, UK.

The address of its registered office is:
Enterprise Way
Vale Business Park
Evesham
Worcestershire
WR11 1AD
United Kingdom

These financial statements were authorised for issue by the Board on 4 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land	Nil
Buildings	2% straight line
Garage equipment	25% reducing balance
Office equipment	25% reducing balance
Motor vehicles	25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2024 - 31).

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Office equipment £	Garage equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	8,020,436	25,188	232,905	2,657,841	10,936,370
Additions	-	-	-	194,805	194,805
Disposals	-	-	(13,576)	(368,263)	(381,839)
At 31 March 2025	8,020,436	25,188	219,329	2,484,383	10,749,336
Depreciation
At 1 April 2024	320,817	19,206	184,866	1,392,101	1,916,990
Charge for the year	160,409	1,496	12,003	329,887	503,795
Eliminated on disposal	-	-	(13,503)	(322,232)	(335,735)
At 31 March 2025	481,226	20,702	183,366	1,399,756	2,085,050
Carrying amount
At 31 March 2025	7,539,210	4,486	35,963	1,084,627	8,664,286
At 31 March 2024	7,699,619	5,982	48,039	1,265,740	9,019,380

Included within the net book value of land and buildings above is £7,539,210 (2024 - £7,699,619) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's freehold property situated at the Vale Park, Evesham was revalued on 31 March 2022. An independent valuer was not involved.
The valuation is based on an open market value per square foot of similar properties in the area. The Directors believe this to still be an accurate market value of the property.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £4,325,229 (2024 - £4,417,255).

5

Stocks

	2025 £	2024 £
Raw materials and consumables	27,732	8,619

6

Debtors

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Current	2025 £	2024 £
Trade debtors	495,128	523,081
Prepayments	193,706	397,759
Other debtors	27,113	69,593
	715,947	990,433

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		77,894	279,938
Social security and other taxes		98,965	38,408
Outstanding defined contribution pension costs		5,520	5,471
Other payables		1,233,999	1,452,898
Accruals		20,748	18,670
Income tax liability		20,437	-
		1,457,563	1,795,385

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.25 each	248,004	62,001	248,004	62,001

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	37,867	37,867

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	37,867	37,867

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

	Tangible assets 2025 £
Total amount of revalued assets	7,539,210
Amount of revaluation brought forward	(3,282,363)
Amount of revaluation for the year	68,383
Total carrying amount of assets had they not been revalued	4,325,229

Deferred tax has been provided for on the revalued gain at the tax rate effective from 1 April 2023 of 25% amounting to £741,181 (2024 £779,048).

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	256,000	256,000
Later than one year and not later than five years	380,000	541,000
Later than five years	10,719,167	10,814,167
	11,355,167	11,611,167

The amount of non-cancellable operating lease payments recognised as an expense during the year was £256,000 (2024 - £256,000).

11

Dividends

		2025		2024
		£		£
Interim dividend of £0.0081 (2024 - £0.0161) per ordinary share		2,000		4,000

12	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £218,105 (2024 - £Nil). The company had two Iveco lorries on order at the period end. These were delivered in May 2025.

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

13	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
N J Sinclair
Loan repayable on demand with interest charged at HMRC approved rate	50,857	-	(50,857)	-
T Sinclair
Loan repayable on demand with interest charged at HMRC approved rate	-	20,824	-	20,824

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
N J Sinclair
Loan repayable on demand with interest charged at HMRC approved rate	-	263,594	(212,737)	50,857

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	138,800	153,800
Contributions paid to money purchase schemes	1,178	11,153
	139,978	164,953

During the year the number of directors who were receiving benefits and share incentives was as follows:

	2025 No.	2024 No.
Accruing benefits under money purchase pension scheme	4	4

Summary of transactions with other related parties

R Sinclair Transport Retirement Trust. The company is due to pay ground rent in the year to the retirement trust for the land on which the building at Enterprise Way, Evesham sits.
There is a balance due from the retirement trust in respect of a VAT liability paid by the company on the retirement trust's behalf.

Income and receivables from related parties

2025	Other related parties £
Amounts receivable from related party	3,250

2024	Other related parties £
Amounts receivable from related party	3,250

Expenditure with and payables to related parties

2025	Other related parties £
Leases	95,000

2024	Other related parties £
Leases	95,000

R Sinclair Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Loans to related parties

2025	Key management £	Total £
At start of period	50,857	50,857
Advanced	20,782	20,782
Repaid	(51,617)	(51,617)
Interest transactions	801	801
At end of period	20,823	20,823

2024	Key management £	Total £
Advanced	263,954	263,954
Repaid	(213,097)	(213,097)
At end of period	50,857	50,857

Terms of loans to related parties

Interest is paid from all directors on balances due to the company at the HMRC approved rate (2.25% for 2024/25). All loans are repayable on demand.
 

Loans from related parties

2025	Key management £	Total £
At start of period	1,439,951	1,439,951
Advanced	70,973	70,973
Repaid	(375,021)	(375,021)
Interest transactions	84,441	84,441
At end of period	1,220,344	1,220,344

2024	Key management £	Total £
At start of period	1,579,453	1,579,453
Advanced	7,320	7,320
Repaid	(248,655)	(248,655)
Interest transactions	101,833	101,833
At end of period	1,439,951	1,439,951

Terms of loans from related parties

Interest is paid to all directors on balances due from the company at the rate of 3% above the prevailing bank base rate. All loans are repayable on demand.