REGISTERED NUMBER: 01351304 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

JAMES TIMMS TRANSPORT LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

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.

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

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.

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 ) .

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

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

-

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.