IRIS Accounts Production v24.2.0.383 12215966 Board of Directors 31.1.24 1.2.23 31.1.24 31.1.24 Wholesale trade of motor vehicle parts and accessories Retail trade of motor vehicle parts and accessories Other letting and operating of own or leased real estate Activities of other holding companies not elsewhere classified true true false true true false false false true false Ordinary 1.00000 Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure122159662023-01-31122159662024-01-31122159662023-02-012024-01-31122159662022-01-31122159662022-02-012023-01-31122159662023-01-3112215966ns16:EnglandWales2023-02-012024-01-3112215966ns15:PoundSterling2023-02-012024-01-3112215966ns11:Director12023-02-012024-01-3112215966ns11:Consolidated2024-01-3112215966ns11:ConsolidatedGroupCompanyAccounts2023-02-012024-01-3112215966ns11:PrivateLimitedCompanyLtd2023-02-012024-01-3112215966ns11:FRS102ns11:Consolidated2023-02-012024-01-3112215966ns11:Auditedns11:Consolidated2023-02-012024-01-3112215966ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-02-012024-01-3112215966ns11:LargeMedium-sizedCompaniesRegimeForAccounts2023-02-012024-01-3112215966ns11:Consolidatedns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-02-012024-01-3112215966ns11:LargeMedium-sizedCompaniesRegimeForAccountsns11:Consolidated2023-02-012024-01-3112215966ns11:FullAccounts2023-02-012024-01-311221596612023-02-012024-01-3112215966ns11:OrdinaryShareClass12023-02-012024-01-3112215966ns11:OrdinaryShareClass22023-02-012024-01-3112215966ns11:OrdinaryShareClass32023-02-012024-01-3112215966ns11:OrdinaryShareClass42023-02-012024-01-3112215966ns11:Consolidated2023-02-012024-01-3112215966ns11:Director22023-02-012024-01-3112215966ns11:Director32023-02-012024-01-3112215966ns11:CompanySecretary12023-02-012024-01-3112215966ns11:RegisteredOffice2023-02-012024-01-3112215966ns11:Consolidated2022-02-012023-01-3112215966ns6:CurrentFinancialInstruments2024-01-3112215966ns6:CurrentFinancialInstruments2023-01-3112215966ns6:ShareCapital2024-01-3112215966ns6:ShareCapital2023-01-3112215966ns6:CapitalRedemptionReserve2024-01-3112215966ns6:CapitalRedemptionReserve2023-01-3112215966ns6:RetainedEarningsAccumulatedLosses2024-01-3112215966ns6:RetainedEarningsAccumulatedLosses2023-01-3112215966ns6:ShareCapital2022-01-3112215966ns6:RetainedEarningsAccumulatedLosses2022-01-3112215966ns6:CapitalRedemptionReserve2022-01-3112215966ns6:RetainedEarningsAccumulatedLosses2022-02-012023-01-3112215966ns6:CapitalRedemptionReserve2022-02-012023-01-3112215966ns6:ShareCapital2023-02-012024-01-3112215966ns6:RetainedEarningsAccumulatedLosses2023-02-012024-01-3112215966ns6:CapitalRedemptionReserve2023-02-012024-01-3112215966ns6:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3112215966ns6:ComputerSoftware2023-02-012024-01-3112215966ns6:OwnedOrFreeholdAssetsns6:LandBuildings2023-02-012024-01-3112215966ns6:LongLeaseholdAssetsns6:LandBuildings2023-02-012024-01-3112215966ns6:PlantMachinery2023-02-012024-01-3112215966ns6:MotorVehicles2023-02-012024-01-3112215966ns6:ComputerEquipment2023-02-012024-01-3112215966ns6:CostValuation2023-01-3112215966ns6:AdditionsToInvestments2024-01-3112215966ns6:CostValuation2024-01-3112215966ns6:WithinOneYearns6:CurrentFinancialInstruments2024-01-3112215966ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3112215966ns6:DeferredTaxation2023-01-3112215966ns6:DeferredTaxation2023-02-012024-01-3112215966ns6:DeferredTaxation2024-01-3112215966ns11:OrdinaryShareClass12024-01-3112215966ns6:RetainedEarningsAccumulatedLosses2023-01-3112215966ns6:CapitalRedemptionReserve2023-01-31
REGISTERED NUMBER: 12215966 (England and Wales)












GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

CHARLES TRENT HOLDINGS LIMITED

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 17


CHARLES TRENT HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: M J Trent
N Trent
J Trent





SECRETARY: M J Trent





REGISTERED OFFICE: Trent House
8 Georges Avenue
Parkstone
Poole
Dorset
BH12 4ND





REGISTERED NUMBER: 12215966 (England and Wales)





AUDITORS: Cook & Partners Limited
Statutory Auditor
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST JANUARY 2024

The directors present their strategic report of the company and the group for the year ended 31st January 2024.

REVIEW OF BUSINESS
The parent of the group Charles Trent Holdings Limited has no material income or costs.

Review of Business: Charles Trent Oldco Limited (formerly Charles Trent Limited)

February 2023 to September 2023 - 9 Months

During the nine-month period from February 2023 to September 2023, Charles Trent Limited made substantial strides in transforming our operations. The introduction of our reverse production lines in August 2022 marked a significant departure from our traditional car dismantling and recycling processes. This shift can be likened to moving from an analogue to a digital system, enabling us to process up to twenty times more vehicles annually.

Throughout this period, we implemented major operational changes and gained valuable intellectual property on optimising the use of these production lines. These insights will be instrumental in rolling out additional facilities in the future. We also established an innovation and technology team dedicated to streamlining the various functions of our digital operations, which will allow us to scale our business more rapidly and efficiently. Although the costs associated with these developments were substantial, they were essential for the company's growth.

To support our long-term strategy, and following the advice of Ernst & Young, we decided to create a new company, Charles Trent Newco. This entity, formed during the period, is to separate out the operating company from the existing Group which includes a property portfolio. This will allow it to focus on core activities and future growth of the dismantling and salvage operations. On 29th September 2023, all trade and assets were transferred from Oldco to Newco, marking a significant milestone in our evolution.

Review of Business: Charles Trent Limited (formerly Charles Trent Newco Limited)

October 2023 to 31st January 2024 - 4 Months

Following the transition of all trade and assets from Oldco to Charles Trent Newco Limited on 29th September 2023, we have continued to build upon the substantial progress made in transforming our operations. The establishment of reverse production lines in August 2022 has fundamentally redefined our business model, moving us from traditional car dismantling and recycling to a more advanced, digital approach. This evolution has enabled us to process up to twenty times more vehicles annually.

During this four-month period, Newco focused on refining and optimising the operational changes initiated under Oldco. We have deepened our understanding of the reverse production lines, acquiring valuable intellectual property that will guide the expansion of additional facilities. Our innovation and technology team, formed to enhance the efficiency of our digital operations, remains pivotal in scaling the business more rapidly and effectively.

The costs associated with these advancements were significant but necessary for achieving long-term growth. As a testament to our strategic direction, combined turnover increased from £41.29 million in 2022/2023 to £46.39 million in 2023/2024.

Charles Trent Property Limited

Commercial property values continue to increase on the back of demand. We consider our newest buildings at Poole known as BH1 & the Holton Heath distribution centre as prime assets which are significantly worth more than the original cost. We did see significant interest rate hikes during the period however over fifty percent of debt was fixed rate which lessened the impact.


CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST JANUARY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Charles Trent Limited / Charles Trent Oldco Limited
It has been deemed that the following items listed below are the principal risks and uncertainties looking forwards:
Scrap commodity prices
Salvage returns can be affected by used car prices/ fixed price contracts
Cost of fuel
Wage costs
Staffing
Energy prices

Charles Trent Property Limited

Interest rate risk
The risk of interest rates increasing could result in loss of rental income and increased bank loan repayments. Currently all rental income is received up to date. Charles Trent Limited is responsible for a large portion of rental income therefore the directors do not deem this risk to be material.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

Impairment risk
The company uses the cost model for valuing property, plant and equipment, therefore a price drop in the property market could create an impairment risk on the valuation of assets. In the year one property was independently revalued at substantially higher than the carrying value therefore the directors do not deem this risk to be material.

ON BEHALF OF THE BOARD:





M J Trent - Director


19th August 2024

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST JANUARY 2024

The directors present their report with the financial statements of the company and the group for the year ended 31st January 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31st January 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st February 2023 to the date of this report.

M J Trent
N Trent
J Trent

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Cook & Partners Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M J Trent - Director


19th August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHARLES TRENT HOLDINGS LIMITED

Opinion
We have audited the financial statements of Charles Trent Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st January 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31st January 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHARLES TRENT HOLDINGS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHARLES TRENT HOLDINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including Fraud.

Irregularities, including fraud, are instances of non-compliance with laws and regulations.
We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Auditors approach to assessing the risks of material misstatement due to irregularities, including fraud.

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity. The following laws and regulations are considered to be significant to the entity:
-Financial reporting Standard 102
-Companies Act 2006
-UK General Data Protection Regulation
-Environmental Agency

We assessed the risks of material misstatement in respect of fraud as follows:

-Discussed the risk of material misstatement due to irregularities, including fraud with management at the planning stage to confirm that risks had been adequately identified and that the controls in place are sufficient for the size and nature of the business to reduce those risks to an acceptably low level.
-Undertook an initial analytical review of the financial statements to identify any potentially unusual or unexpected relationships or high risk audit areas.
-Completed a risk assessment checklist to aid in the identification of Risks for a company of this size and nature.
-We considered the risk of fraud through management override of controls, a common risk in a company of this size and nature, in response; we incorporated testing of manual journal entries into our audit approach and undertook a purely substantive approach to the audit with no reliance placed on controls.
-Accounting policies were reviewed at the planning stage to identify any subjective measurements or complex transactions where management would have the potential to show bias.
-Ensured all in the audit team are aware of the risks identified and particular areas that were susceptible to misstatement and during the audit planning meeting.
-Throughout the audit additional substantive testing was undertaken in areas where there was perceived to be a medium or high risk of misstatement.
-Audit testing was undertaken in a manner that was unpredictable in nature, selection and timing when compared to previous years work.
-The engagement Partners final review of the audit file and financial statements included a detailed review of all areas of medium or high risk identified at the planning stage of the audit.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above:

-Financial reporting Standard 102, Companies Act 2006 and UK General Data Protection Regulation. The audit team all have a good understanding of the requirements under these laws and regulations common to most trading businesses and were alert throughout the audit to any potential instances of non-compliance.
-Further, at both the planning and completion stage of the audit enquiries where made of management any known instances of fraud or non-compliance with laws and regulations

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHARLES TRENT HOLDINGS LIMITED

-These representations were corroborated where possible through the review of board minutes. No contradictory evidence was noted.

We consider that the work detailed above has ensured that the likelihood of detection of irregularities including fraud is considered to be high both at management level and during our audit approach. It is however worth noting that there is an inherent difficulty in detecting irregularities and there is no guarantee that all irregularities have been identified.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jeff Oliver (Senior Statutory Auditor)
for and on behalf of Cook & Partners Limited
Statutory Auditor
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

19th August 2024

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31ST JANUARY 2024

2024 2023
Notes £    £   

TURNOVER 46,398,812 41,297,099

Cost of sales 37,947,149 34,852,982
GROSS PROFIT 8,451,663 6,444,117

Administrative expenses 9,043,164 7,710,838
(591,501 ) (1,266,721 )

Other operating income 89,815 173,876
OPERATING LOSS 4 (501,686 ) (1,092,845 )

Interest receivable and similar income 1,742 48
(499,944 ) (1,092,797 )
Gain/loss on revaluation of investment
property

(113,599

)

810,000
(613,543 ) (282,797 )

Interest payable and similar expenses 5 748,469 455,437
LOSS BEFORE TAXATION (1,362,012 ) (738,234 )

Tax on loss 6 (268,603 ) (328,441 )
LOSS FOR THE FINANCIAL YEAR (1,093,409 ) (409,793 )

OTHER COMPREHENSIVE INCOME
Share capital reduction 3 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

3

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(1,093,406

)

(409,793

)

Loss attributable to:
Owners of the parent (1,093,409 ) (409,793 )

Total comprehensive income attributable to:
Owners of the parent (1,093,406 ) (409,793 )

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

CONSOLIDATED BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 190,390 247,247
Tangible assets 9 19,973,052 20,638,328
Investments 10 - -
Investment property 11 2,443,350 3,021,053
22,606,792 23,906,628

CURRENT ASSETS
Stocks 12 4,246,946 2,281,750
Debtors 13 1,087,182 1,619,493
Cash in hand 126,499 62,528
5,460,627 3,963,771
CREDITORS
Amounts falling due within one year 14 9,539,083 6,888,882
NET CURRENT LIABILITIES (4,078,456 ) (2,925,111 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,528,336

20,981,517

CREDITORS
Amounts falling due after more than one
year

15

(9,520,353

)

(10,686,694

)

PROVISIONS FOR LIABILITIES 19 - (193,431 )
NET ASSETS 9,007,983 10,101,392

CAPITAL AND RESERVES
Called up share capital 20 72 75
Capital redemption reserve 21 3 -
Other reserves 21 28 28
Retained earnings 21 9,007,880 10,101,289
SHAREHOLDERS' FUNDS 9,007,983 10,101,392

The financial statements were approved by the Board of Directors and authorised for issue on 19th August 2024 and were signed on its behalf by:





M J Trent - Director


CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

COMPANY BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 - -
Investments 10 176 -
Investment property 11 - -
176 -

CURRENT ASSETS
Debtors 13 6,053,484 10,418
Cash at bank 81 81
6,053,565 10,499
CREDITORS
Amounts falling due within one year 14 243,280 70,839
NET CURRENT ASSETS/(LIABILITIES) 5,810,285 (60,340 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,810,461

(60,340

)

CAPITAL AND RESERVES
Called up share capital 20 72 75
Capital redemption reserve 21 3 -
Retained earnings 21 5,810,386 (60,415 )
SHAREHOLDERS' FUNDS 5,810,461 (60,340 )

Company's profit/(loss) for the financial year 5,870,801 (60,230 )

The financial statements were approved by the Board of Directors and authorised for issue on 19th August 2024 and were signed on its behalf by:





M J Trent - Director


CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST JANUARY 2024

Called up Capital
share Retained redemption Other Total
capital earnings reserve reserves equity
£    £    £    £    £   
Balance at 1st February 2022 75 10,511,082 - 28 10,511,185

Changes in equity
Total comprehensive income - (409,793 ) - - (409,793 )
Balance at 31st January 2023 75 10,101,289 - 28 10,101,392

Changes in equity
Issue of share capital (3 ) - - - (3 )
Total comprehensive income - (1,093,409 ) 3 - (1,093,406 )
Balance at 31st January 2024 72 9,007,880 3 28 9,007,983

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST JANUARY 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1st February 2022 75 (185 ) - (110 )

Changes in equity
Total comprehensive income - (60,230 ) - (60,230 )
Balance at 31st January 2023 75 (60,415 ) - (60,340 )

Changes in equity
Issue of share capital (3 ) - - (3 )
Total comprehensive income - 5,870,801 3 5,870,804
Balance at 31st January 2024 72 5,810,386 3 5,810,461

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST JANUARY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,187,422 889,479
Interest paid (761,839 ) (439,312 )
Tax paid - (200,765 )
Net cash from operating activities 425,583 249,402

Cash flows from investing activities
Purchase of intangible fixed assets (3,000 ) (30,569 )
Purchase of tangible fixed assets (1,535,782 ) (6,635,547 )
Purchase of investment property (13,599 ) (45,510 )
Sale of tangible fixed assets 195,532 46,427
Sale of investment property 603,094 -
Interest received 1,742 48
Net cash from investing activities (752,013 ) (6,665,151 )

Cash flows from financing activities
New loans in year - 3,500,000
Loan repayments in year (820,474 ) (679,292 )
New hire purchase in year 561,592 2,223,820
Hire purchase repayments in year (1,090,838 ) (961,590 )
Amount introduced by directors - 94,573
Amount withdrawn by directors (194,180 ) -
Net cash from financing activities (1,543,900 ) 4,177,511

Decrease in cash and cash equivalents (1,870,330 ) (2,238,238 )
Cash and cash equivalents at beginning of
year

2

(713,710

)

1,524,528

Cash and cash equivalents at end of year 2 (2,584,040 ) (713,710 )

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST JANUARY 2024

1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Loss before taxation (1,362,012 ) (738,234 )
Depreciation charges 2,062,328 1,729,290
Profit on disposal of fixed assets (224,830 ) (22,139 )
Loss/(gain) on revaluation of fixed assets 113,599 (810,000 )
Finance costs 748,469 455,437
Finance income (1,742 ) (48 )
1,335,812 614,306
(Increase)/decrease in stocks (1,965,196 ) 232,231
Decrease in trade and other debtors 607,483 151,611
Increase/(decrease) in trade and other creditors 1,209,323 (108,669 )
Cash generated from operations 1,187,422 889,479

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 126,499 62,528
Bank overdrafts (2,710,539 ) (776,238 )
(2,584,040 ) (713,710 )
Year ended 31st January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 62,528 1,524,528
Bank overdrafts (776,238 ) -
(713,710 ) 1,524,528


CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST JANUARY 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 62,528 63,971 126,499
Bank overdrafts (776,238 ) (1,934,301 ) (2,710,539 )
(713,710 ) (1,870,330 ) (2,584,040 )
Debt
Finance leases (2,807,638 ) 529,246 (2,278,392 )
Debts falling due within 1 year (877,781 ) (25,029 ) (902,810 )
Debts falling due after 1 year (8,897,328 ) 845,503 (8,051,825 )
(12,582,747 ) 1,349,720 (11,233,027 )
Total (13,296,457 ) (520,610 ) (13,817,067 )

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

Charles Trent Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Acquisitions and transfers of trade
On 15th June 2023 Charles Trent Limited (formerly Charles Trent Newco Limited) was incorporated and the the 100 Ordinary shares issued to Charles Trent Holdings Limited.

On the 29th September 2023 Charles Trent Oldco Limited (formerly Charles Trent Limited) disposed of its trade, assets and liabilities to Charles Trent Limited (formerly Charles Trent Newco Limited) on a no gain no loss basis. The transfer has no impact on the consolidated figures.

Going Concern Justification
Charles Trent Oldco Limited
The company ceased to trade on 29th September 2023. Its trade, assets and liabilities were transferred to a fellow subsidiary company as per the detailed note below.

The directors intend to keep the company open for the foreseeable future in a dormant state.

Given the above factors the accounts have been prepared on a going concern basis.

Charles Trent Limited
The directors expect 2025 year end to be more profitable as the new reverse car production facility will become more and more efficient.

The directors review budgets, cash flow forecasts, and management accounts on a regular basis and act on the results accordingly to ensure that the company can continue to trade and meet its liabilities as they fall due.

Given the above factors the accounts have been prepared on a going concern basis.

Charles Trent Property Limited
At the balance sheet date the company's current liabilities exceed it's net current assets.

This is the fourth year of trade for the company, with profits meeting budgets by the year end.

The directors review budgets, cash flow forecasts, and management accounts on a regular basis and act on the results accordingly to ensure that the company can continue to trade and meet its liabilities as they fall due.

Given the above factors the accounts have been prepared on a going concern basis.

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued

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

Charles Trent Limited
Turnover represents amounts invoiced, excluding VAT, in respect of the sale of goods and services to customers, excepting third party storage and recovery charges. These charges represent amounts paid by Charles Trent Limited on behalf of their insurance company clients to compensate those third parties for the recovery and storage of the insured vehicle. These charges are charged, at cost, to the respective insurance company by Charles Trent Limited. The directors believe that such recharges do not constitute turnover, and to include them separately would distort the reporting of business performance. This policy is generally accepted by the sector.

Charles Trent Property Limited
Rental income is recognised on the provision of services once completed.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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.
Freehold property - land is not depreciated and buildings are depreciated over 20 years
Long leasehold - 5% on cost and Straight line over 20 years
Plant and machinery - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Investment property
In accordance with FRS 102 Section 16 Investment Property, Investment Properties are not subject to periodic depreciation charges and are included in the balance sheet at fair value.

The directors determine fair value by review of rental yields and current market conditions.

There has been no valuation by an independent valuer who holds a recognised and relevant professional qualification during the year.

Rents receivable from investment properties are credited to the profit and loss account on a straight line basis over the lease term.

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

Stock of parts from the breaking of vehicles are included at selling price less an estimated profit margin in line with FRS 102 Section 13.16 Inventories.


CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

A capital allowances review was performed by an independent specialist.

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
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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Critical accounting judgements and key sources of estimation uncertainty.
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Part stock valuation

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 6,955,884 6,390,316
Social security costs 648,041 601,816
Other pension costs 221,308 194,260
7,825,233 7,186,392

The average number of employees during the year was as follows:
2024 2023

Administration and support 66 70
Production 154 149
Management 5 -
225 219

The average number of employees by undertakings that were proportionately consolidated during the year was 225 (2023 - 219 ) .

2024 2023
£    £   
Directors' remuneration 23,040 23,040

4. OPERATING LOSS

The operating loss is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 10,162 4,193
Depreciation - owned assets 1,789,378 1,096,407
Depreciation - assets on hire purchase contracts 213,093 585,166
Profit on disposal of fixed assets (224,830 ) (22,139 )
Computer software amortisation 59,858 48,256
Auditors remuneration 32,640 19,680
Auditors remuneration - Non audit services 15,360 13,120

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 54,529 -
Bank loan interest 535,047 365,929
Hire purchase interest 158,893 89,508
748,469 455,437

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

6. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
Prior year tax adj - (89,084 )

Deferred tax (268,603 ) (239,357 )
Tax on loss (268,603 ) (328,441 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Loss before tax (1,362,012 ) (738,234 )
Loss multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

(340,503

)

(140,264

)

Effects of:
Adjustments to tax charge in respect of previous periods (454 ) (89,084 )
Depreciation of buildings and leasehold property 103,583 43,614
Assets purchased in year where super deduction used (335 ) (180,622 )
B/fwd capital gains losses utilised (30,894 ) -
Land remediation relief on additional 50% - (8,486 )
Increase in tax rate - 46,401
Total tax credit (268,603 ) (328,441 )

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Share capital reduction 3 - 3

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

8. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 1st February 2023 295,503
Additions 213,665
Disposals (298,503 )
At 31st January 2024 210,665
AMORTISATION
At 1st February 2023 48,256
Amortisation for year 59,858
Eliminated on disposal (87,839 )
At 31st January 2024 20,275
NET BOOK VALUE
At 31st January 2024 190,390
At 31st January 2023 247,247

9. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1st February 2023 15,024,977 1,190,285 8,078,845
Additions 186,343 1,354,739 4,631,506
Disposals (56,841 ) (1,422,178 ) (8,614,149 )
At 31st January 2024 15,154,479 1,122,846 4,096,202
DEPRECIATION
At 1st February 2023 452,465 299,928 3,762,836
Charge for year 465,465 44,713 987,414
Eliminated on disposal (20,430 ) (329,232 ) (4,431,371 )
At 31st January 2024 897,500 15,409 318,879
NET BOOK VALUE
At 31st January 2024 14,256,979 1,107,437 3,777,323
At 31st January 2023 14,572,512 890,357 4,316,009

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

9. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st February 2023 3,100,119 634,307 28,028,533
Additions 924,496 191,692 7,288,776
Disposals (3,184,532 ) (670,153 ) (13,947,853 )
At 31st January 2024 840,083 155,846 21,369,456
DEPRECIATION
At 1st February 2023 2,378,816 496,160 7,390,205
Charge for year 458,750 46,129 2,002,471
Eliminated on disposal (2,688,818 ) (526,421 ) (7,996,272 )
At 31st January 2024 148,748 15,868 1,396,404
NET BOOK VALUE
At 31st January 2024 691,335 139,978 19,973,052
At 31st January 2023 721,303 138,147 20,638,328

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st February 2023 3,394,100 1,459,246 4,853,346
Additions 3,425,038 482,412 3,907,450
Disposals (3,669,956 ) (376,902 ) (4,046,858 )
Transfer to ownership - (1,082,344 ) (1,082,344 )
At 31st January 2024 3,149,182 482,412 3,631,594
DEPRECIATION
At 1st February 2023 398,529 1,034,480 1,433,009
Charge for year 183,369 29,724 213,093
Eliminated on disposal (520,775 ) (245,175 ) (765,950 )
Transfer to ownership - (806,373 ) (806,373 )
At 31st January 2024 61,123 12,656 73,779
NET BOOK VALUE
At 31st January 2024 3,088,059 469,756 3,557,815
At 31st January 2023 2,995,571 424,766 3,420,337

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st February 2023 76
Additions 100
At 31st January 2024 176
NET BOOK VALUE
At 31st January 2024 176
At 31st January 2023 76


11. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1st February 2023 3,021,053
Additions 13,599
Disposals (477,703 )
Revaluations (113,599 )
At 31st January 2024 2,443,350
NET BOOK VALUE
At 31st January 2024 2,443,350
At 31st January 2023 3,021,053

Fair value at 31st January 2024 is represented by:
£   
Valuation in 2023 810,000
Valuation in 2024 (113,599 )
Cost 1,746,949
2,443,350

12. STOCKS

Group
2024 2023
£    £   
Stocks 4,246,946 2,281,750

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 766,907 793,101 - -
Amounts owed by group undertakings - - 6,000,000 -
Other debtors 30,046 373,187 75 75
Tax 38,201 38,201 - -
Deferred tax asset 75,172 - 53,409 10,343
Prepayments and accrued income 176,856 415,004 - -
1,087,182 1,619,493 6,053,484 10,418

Deferred tax asset
Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 75,172 - 53,409 10,343

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 16) 3,613,349 1,654,019 - -
Hire purchase contracts (see note 17) 809,864 1,018,272 - -
Trade creditors 1,453,335 1,254,867 40,000 44,500
Amounts owed to group undertakings - - 203,104 26,339
Social security and other taxes 199,230 848,490 - -
VAT 1,802,974 - - -
Other creditors 157,468 439,017 176 -
Directors' current accounts 547 194,727 - -
Accruals and deferred income 1,309,834 1,264,783 - -
Accrued expenses 192,482 214,707 - -
9,539,083 6,888,882 243,280 70,839

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Bank loans (see note 16) 8,051,825 8,897,328
Hire purchase contracts (see note 17) 1,468,528 1,789,366
9,520,353 10,686,694

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

16. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,710,539 776,238
Bank loans 902,810 877,781
3,613,349 1,654,019
Amounts falling due between one and two years:
Bank loans - 1-2 years 1,105,873 1,041,705
Amounts falling due between two and five years:
Bank loans - 2-5 years 2,637,775 2,667,929
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 4,308,177 5,187,694

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 809,864 1,018,272
Between one and five years 1,468,528 1,789,366
2,278,392 2,807,638

18. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank overdraft 2,710,539 -
Bank loans 8,954,635 9,775,109
11,665,174 9,775,109

There is a debenture and charge dated 14 February 2020 in favour of Lloyds Bank Plc over the assets of the group.

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

19. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax - 193,431

Group
Deferred
tax
£   
Balance at 1st February 2023 193,431
Fair value gain (28,400 )
Provided during the year (240,203 )
Balance at 31st January 2024 (75,172 )

Company
Deferred
tax
£   
Balance at 1st February 2023 (10,343 )
Provided during year (43,066 )
Balance at 31st January 2024 (53,409 )

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
72 Ordinary £1 72 72
NIL Ordinary A £1 - 1
NIL Ordinary B £1 - 1
NIL Ordinary C £1 - 1
72 75

21. RESERVES

Group
Capital
Retained redemption Other
earnings reserve reserves Totals
£    £    £    £   

At 1st February 2023 10,101,289 - 28 10,101,317
Deficit for the year (1,093,409 ) (1,093,409 )
Capital Reduction - 3 - 3
At 31st January 2024 9,007,880 3 28 9,007,911

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

21. RESERVES - continued

Company
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st February 2023 (60,415 ) - (60,415 )
Profit for the year 5,870,801 5,870,801
Capital Reduction - 3 3
At 31st January 2024 5,810,386 3 5,810,389


22. PENSION COMMITMENTS

In the group Charles Trent Limited operates a defined contribution pension scheme. The pension cost for the year represents contributions payable by the company to the scheme and amounted to £216,808 (2023: £194,260). At the year end contributions of £38,054 (2023: £33,749) remained unpaid.

23. CAPITAL COMMITMENTS

2024 2023
£    £   

Capital Commitments 450,096 874,349

At the year end it has been confirmed that there are capital commitments.

The values shown above are those commitments which have been contracted for but delivery/completion is not expected until the next financial year.

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st January 2024 and 31st January 2023:

2024 2023
£    £   
M J Trent
Balance outstanding at start of year (747 ) (25,050 )
Amounts advanced 747 332,303
Amounts repaid - (308,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (747 )

J Trent
Balance outstanding at start of year (96,630 ) (37,551 )
Amounts advanced 96,630 170,200
Amounts repaid - (229,279 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (96,630 )

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

N Trent
Balance outstanding at start of year (97,350 ) (37,551 )
Amounts advanced 97,350 170,920
Amounts repaid - (230,719 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (97,350 )

Interest is charged at the rate of 4% per annum on loan balances outstanding.

Interest charged to the directors for the year amounted to £1,742 (2023: £40).

CHARLES TRENT HOLDINGS LIMITED (REGISTERED NUMBER: 12215966)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

25. RELATED PARTY DISCLOSURES

Included in the consolidated accounts are the following related party transactions

Charles Trent Limited (RBS)
Retirement Benefit Scheme

During the year the group was charged £310,971 (2023: £303,000) for rental of property by Charles Trent Limited (RBS).

M Trent, J Trent and N Trent
Company Directors

During the year the group was charged £95,100 (2023: £95,100) for rental of property by its Directors.

Motorwise Online Services Limited
Common Directors and Shareholders.

During the year the group was charged £562,131 (2023: £1,242,046) by Motorwise Online Services Limited for services provided.

During the year the group charged £31,680 (2023; £7,474) to Motorwise Online Services Limited for expenses, rent and management fees.

Included in Trade Debtors is £899 (2023: £3,175) owed by Motorwise Online Services Limited.

Included in Trade Creditors is £397,764 (2023: £339,690) owed by the group to Motorwise Online Services Limited.

Included in Accruals is £Nil (2023: £2) owed by the group to Motorwise Online Services Limited.

Included in Other Debtors is £Nil (2023: £126) owed to the group by Motorwise Online Services Limited.

TT Industries LLP
Partnership under common control.

During the year the group was charged expenses of £1,100 (2023: £13,650) by TT Industries LLP.

During the year the group charged £4,952 (2023; £4,507) to TT Industries LLP for expenses.

Included in Trade Debtors is £9,245 (2023: £8,031) due from TT Industries LLP.

Included in Trade Creditors is £Nil (2023: £1,164) owed by the group to TT Industries LLP

Included in Other Debtors is £Nil (2023: £1,258) owed to the group by TT Industries LLP.

MNJ 2018 Limited
Common directors and share holders.

Included in Other Debtors is £2,551 (2023: £2,538) owed to the group by MNJ 2018 Limited.

During the year the group incurred a management charge of £239,000 (2023: £Nil) from MNJ 2018 Limited

26. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the group are M Trent, J Trent and N Trent as the majority share holders.