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REGISTERED NUMBER: 02982284 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Skipton Self Drive Limited

Skipton Self Drive Limited (Registered number: 02982284)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Skipton Self Drive Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: P Watson
Mrs C M Watson
R P Watson
Mrs L N Musgrove





SECRETARY: Mrs C M Watson





REGISTERED OFFICE: Otley Road Garage
Otley Road
Skipton
North Yorkshire
BD23 1EY





REGISTERED NUMBER: 02982284 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Skipton Self Drive Limited (Registered number: 02982284)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,191,449 1,115,007

CURRENT ASSETS
Stocks 1,786 3,106
Debtors 5 284,568 141,887
Cash at bank and in hand 69,376 72,800
355,730 217,793
CREDITORS
Amounts falling due within one year 6 (416,480 ) (353,860 )
NET CURRENT LIABILITIES (60,750 ) (136,067 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,130,699

978,940

CREDITORS
Amounts falling due after more than one
year

7

(440,757

)

(408,261

)

PROVISIONS FOR LIABILITIES (201,759 ) (150,177 )
NET ASSETS 488,183 420,502

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 488,083 420,402
SHAREHOLDERS' FUNDS 488,183 420,502

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Skipton Self Drive Limited (Registered number: 02982284)

Balance Sheet - continued
31 October 2023



The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2024 and were signed on its behalf by:





P Watson - Director


Skipton Self Drive Limited (Registered number: 02982284)

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

1. STATUTORY INFORMATION

Skipton Self Drive 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.

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 represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

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.
Hire fleet - 20% on reducing balance
Fixtures, fittings & equipment - 15% on reducing balance
Computer equipment - 25% on cost

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

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.

Skipton Self Drive Limited (Registered number: 02982284)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures,
to Hire fittings Computer
property fleet & equipment equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 3,250 1,688,773 20,081 16,290 1,728,394
Additions - 524,779 - 1,273 526,052
Disposals - (432,012 ) - - (432,012 )
At 31 October 2023 3,250 1,781,540 20,081 17,563 1,822,434
DEPRECIATION
At 1 November 2022 81 593,953 9,825 9,528 613,387
Charge for year 63 242,506 1,538 1,801 245,908
Eliminated on disposal - (228,310 ) - - (228,310 )
At 31 October 2023 144 608,149 11,363 11,329 630,985
NET BOOK VALUE
At 31 October 2023 3,106 1,173,391 8,718 6,234 1,191,449
At 31 October 2022 3,169 1,094,820 10,256 6,762 1,115,007

Skipton Self Drive Limited (Registered number: 02982284)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Hire
fleet
£   
COST
At 1 November 2022 716,235
Additions 312,303
Transfer to ownership (60,834 )
At 31 October 2023 967,704
DEPRECIATION
At 1 November 2022 161,585
Charge for year 137,204
Transfer to ownership (27,732 )
At 31 October 2023 271,057
NET BOOK VALUE
At 31 October 2023 696,647
At 31 October 2022 554,650

5. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Trade debtors 50,187 26,397
Prepayments and accrued income 49,264 45,490
99,451 71,887

Amounts falling due after more than one year:
Amounts owed by group undertakings 185,117 70,000

Aggregate amounts 284,568 141,887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 9,688 9,688
Hire purchase contracts 232,815 183,954
Trade creditors 72,224 62,515
Tax 75,794 69,648
VAT 21,789 23,143
Other creditors - 242
Accruals and deferred income 4,170 4,670
416,480 353,860

Skipton Self Drive Limited (Registered number: 02982284)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 9,688 9,688
Bank loans - 2-5 years 7,239 17,088
Hire purchase contracts 192,237 195,472
Amounts owed to group undertakings 231,593 186,013
440,757 408,261

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 425,052 379,426

The hire purchase borrowings are secured on the relevant individual assets.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their shareholding in the ultimate parent company, Watson Holdings (Skipton) Limited.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Skipton Self Drive Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Skipton Self Drive Limited for the year ended 31 October 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Skipton Self Drive Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Skipton Self Drive Limited and state those matters that we have agreed to state to the Board of Directors of Skipton Self Drive Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skipton Self Drive Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Skipton Self Drive Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Skipton Self Drive Limited. You consider that Skipton Self Drive Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Skipton Self Drive Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


9 January 2024