Registered number
06394656
G B Vehicle Hire (Birmingham) Limited
Report and Unaudited Accounts
31 October 2023
Collins
Chartered Accountants
West Midlands
G B Vehicle Hire (Birmingham) Limited
Registered number: 06394656
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 586,438 607,392
Current assets
Debtors 4 134,007 141,327
Cash at bank and in hand 80,023 41,708
214,030 183,035
Creditors: amounts falling due within one year 5 (244,641) (238,464)
Net current liabilities (30,611) (55,429)
Total assets less current liabilities 555,827 551,963
Creditors: amounts falling due after more than one year 6 (85,696) (120,250)
Provisions for liabilities (82,950) (67,023)
Net assets 387,181 364,690
Capital and reserves
Called up share capital 2 2
Profit and loss account 387,179 364,688
Shareholders' funds 387,181 364,690
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Beckford
Director
Approved by the board on 30 July 2024
G B Vehicle Hire (Birmingham) Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is for vehicle hire and comprises the income receivable for hire periods during the year
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and Buildings Nil
Plant and Equipment 20% straight line
Motor Vehicles 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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.Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 254,640 226,607 330,419 811,666
Additions - 14,890 104,084 118,974
Disposals - - (99,304) (99,304)
At 31 October 2023 254,640 241,497 335,199 831,336
Depreciation
At 1 November 2022 - 87,310 116,964 204,274
Charge for the year - 40,140 52,549 92,689
On disposals - - (52,065) (52,065)
At 31 October 2023 - 127,450 117,448 244,898
Net book value
At 31 October 2023 254,640 114,047 217,751 586,438
At 31 October 2022 254,640 139,297 213,455 607,392
4 Debtors 2023 2022
£ £
Vat Repayable 734 -
Prepayments and accrued income 16,893 55,661
Other debtors 116,380 85,666
134,007 141,327
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 32,071 29,589
Trade creditors 31,803 41,388
Corporation tax 31,792 18,753
Other taxes and social security costs 1,608 9,377
Directors loans 128,867 116,794
Accruals and deferred income 18,500 22,563
244,641 238,464
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 85,696 120,250
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 91,190 113,476
The Bank Loan from NatWest Bank plc is secured by a debenture over the company assets.
8 Other information
G B Vehicle Hire (Birmingham) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Lodge Castle Bromwich Hall
Chester Road
Castle Bromwich
West Midlands
B36 9DE
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