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REGISTERED NUMBER: 00815268 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

AZTEC FLEET MANAGEMENT LIMITED

AZTEC FLEET MANAGEMENT LIMITED (REGISTERED NUMBER: 00815268)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


AZTEC FLEET MANAGEMENT LIMITED (REGISTERED NUMBER: 00815268)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 337,609 195,963

CURRENT ASSETS
Debtors 5 103,169 56,350
Cash at bank 3,101 9,035
106,270 65,385
CREDITORS
Amounts falling due within one year 6 (127,023 ) (217,397 )
NET CURRENT LIABILITIES (20,753 ) (152,012 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

316,856

43,951

CREDITORS
Amounts falling due after more than one
year

7

(274,090

)

(29,076

)
NET ASSETS 42,766 14,875

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 42,566 14,675
42,766 14,875

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

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

AZTEC FLEET MANAGEMENT LIMITED (REGISTERED NUMBER: 00815268)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 April 2024 and were signed by:





J P Collins - Director


AZTEC FLEET MANAGEMENT LIMITED (REGISTERED NUMBER: 00815268)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

AZTEC FLEET MANAGEMENT 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: 00815268

Registered office: C/O Aztec Chemicals
Unit 16 Orion Way
Orion Park
Crewe
Cheshire
CW1 6NG

The principal activity of the company continues to be that of the management of a fleet of motor vehicles.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

(i.) estimated useful life of tangible assets

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

AZTEC FLEET MANAGEMENT LIMITED (REGISTERED NUMBER: 00815268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor Vehicles - over the contract term with an estimated residual value of 33.3%

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


AZTEC FLEET MANAGEMENT LIMITED (REGISTERED NUMBER: 00815268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued
CORPORATION TAX
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at thestatement of financial position 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.

IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

3. EMPLOYEES AND DIRECTORS

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

AZTEC FLEET MANAGEMENT LIMITED (REGISTERED NUMBER: 00815268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 August 2022 380,005
Additions 336,620
Disposals (293,253 )
At 31 July 2023 423,372
DEPRECIATION
At 1 August 2022 184,042
Charge for year 92,955
Eliminated on disposal (191,234 )
At 31 July 2023 85,763
NET BOOK VALUE
At 31 July 2023 337,609
At 31 July 2022 195,963

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Amounts owed by group undertakings 58,294 -
Deferred tax asset 44,875 56,350
103,169 56,350

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 92,968 161,520
Amounts owed to group undertakings 25,000 43,914
Tax 931 7,494
VAT 6,724 3,269
Accruals and deferred income 1,400 1,200
127,023 217,397

AZTEC FLEET MANAGEMENT LIMITED (REGISTERED NUMBER: 00815268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The aggregate amounts of obligations under finance leases and hire purchase contracts due within one year that are secured is £92,968 (2022: £161,520). This creditor is secured on the assets to which they relate.

The company is party to a composite guarantee in favour of Natwest Bank Plc dated 9 March 2007 with the following companies - Hopecrest Investments Limited, Aztec Chemicals Limited, Leeson Holdings Limited.

A mortgage debenture exists dated 16 March 2007 incorporating a fixed and floating charge over all current and future assets of the company.

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 274,090 29,076

The aggregate amounts of obligations under finance leases and hire purchase contracts due after one year that are secured is £274,090 (2022: £29,076). This creditor is secured on the assets to which they relate.

8. RELATED PARTY DISCLOSURES

Transactions between fellow group companies have been concluded under normal market conditions and have not been disclosed in line with paragraphs 1AC.34-36 of FRS102.

9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the board.

10. ULTIMATE CONTROLLING PARTY

The parent undertaking is Hopecrest Investments Limited, a company registered in England and Wales. The ultimate parent undertaking is J & J Holdings (Crewe) Limited, a company registered in England and Wales.