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REGISTERED NUMBER: 06469493 (England and Wales)















S & B Car and Van Hire Limited

Unaudited Financial Statements for the Year Ended 31 January 2023






S & B Car and Van Hire Limited (Registered number: 06469493)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S & B Car and Van Hire Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: R J Lee





REGISTERED OFFICE: Forstal Farm Barn
Forstal Lane
East Farleigh
Kent
ME15 0QE





REGISTERED NUMBER: 06469493 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

S & B Car and Van Hire Limited (Registered number: 06469493)

Statement of Financial Position
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,167,034 1,055,673
Investment property 5 267,052 -
1,434,086 1,055,673

CURRENT ASSETS
Debtors 6 352,994 295,174
Cash at bank and in hand 8,457 11,554
361,451 306,728
CREDITORS
Amounts falling due within one year 7 1,296,119 809,272
NET CURRENT LIABILITIES (934,668 ) (502,544 )
TOTAL ASSETS LESS CURRENT LIABILITIES 499,418 553,129

CREDITORS
Amounts falling due after more than one
year

8

24,167

179,280
NET ASSETS 475,251 373,849

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 475,151 373,749
SHAREHOLDERS' FUNDS 475,251 373,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

S & B Car and Van Hire Limited (Registered number: 06469493)

Statement of Financial Position - continued
31 January 2023


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 director and authorised for issue on 17 October 2023 and were signed by:





R J Lee - Director


S & B Car and Van Hire Limited (Registered number: 06469493)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

S & B Car and Van Hire Limited 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.

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.

Income recognition
Turnover represents net invoiced hire charges and vehicle sales, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on cost and 15% on reducing balance

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

Government grants
Government grants in relation to COVID-19 are recognised on the accruals basis and credited to the Income Statement and any related expenditure is charged to the Income Statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 6 ) .

S & B Car and Van Hire Limited (Registered number: 06469493)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 370,820 2,170,033 2,540,853
Additions - 296,391 296,391
Disposals - (110,879 ) (110,879 )
At 31 January 2023 370,820 2,355,545 2,726,365
DEPRECIATION
At 1 February 2022 46,282 1,438,898 1,485,180
Charge for year 4,998 167,286 172,284
Eliminated on disposal - (98,133 ) (98,133 )
At 31 January 2023 51,280 1,508,051 1,559,331
NET BOOK VALUE
At 31 January 2023 319,540 847,494 1,167,034
At 31 January 2022 324,538 731,135 1,055,673

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 267,052
At 31 January 2023 267,052
NET BOOK VALUE
At 31 January 2023 267,052

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,921 1,342
Other debtors 319,073 293,832
352,994 295,174

S & B Car and Van Hire Limited (Registered number: 06469493)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,397 23,910
Hire purchase contracts (see note 9) 4,893 46,485
Trade creditors 297,652 378,669
Taxation and social security 44,729 9,947
Other creditors 923,448 350,261
1,296,119 809,272

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 24,167 162,383
Hire purchase contracts (see note 9) - 16,897
24,167 179,280

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 67,301

9. LEASING AGREEMENTS

The company had total commitments under non-cancellable operating leases of £125,139 (2022: £149,139)

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 15,397 -
Bank loans 34,167 186,293
49,564 186,293

Lloyds Bank plc hold fixed and floating charges by way of a debenture over all assets of the company.

West One Loan Limited holds fixed and floating charges and a negative pledge over a freehold property of the company.

Singers Corporate Asset Finance Ltd hold a legal charge over hire purchase or hire agreements with the company.

First Kent Properties Limited hold a charge securing a rent deposit.