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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 2024






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






Contents of the Financial Statements
for the Year Ended 31 January 2024




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 2024







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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,947,773 1,167,034
Investment property 5 267,052 267,052
2,214,825 1,434,086

CURRENT ASSETS
Debtors 6 428,159 352,994
Cash in hand - 8,457
428,159 361,451
CREDITORS
Amounts falling due within one year 7 1,971,867 1,296,119
NET CURRENT LIABILITIES (1,543,708 ) (934,668 )
TOTAL ASSETS LESS CURRENT LIABILITIES 671,117 499,418

CREDITORS
Amounts falling due after more than one
year

8

221,327

24,167
NET ASSETS 449,790 475,251

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 449,690 475,151
SHAREHOLDERS' FUNDS 449,790 475,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 2024


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 18 September 2024 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 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 9 ) .

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

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 370,820 2,355,545 2,726,365
Additions 734,724 549,610 1,284,334
Disposals (130,000 ) (251,823 ) (381,823 )
At 31 January 2024 975,544 2,653,332 3,628,876
DEPRECIATION
At 1 February 2023 51,280 1,508,051 1,559,331
Charge for year 4,998 216,490 221,488
Eliminated on disposal - (99,716 ) (99,716 )
At 31 January 2024 56,278 1,624,825 1,681,103
NET BOOK VALUE
At 31 January 2024 919,266 1,028,507 1,947,773
At 31 January 2023 319,540 847,494 1,167,034

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 267,052
NET BOOK VALUE
At 31 January 2024 267,052
At 31 January 2023 267,052

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 110 33,921
Other debtors 428,049 319,073
428,159 352,994

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

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,373 25,397
Hire purchase contracts (see note 9) 147,818 4,893
Trade creditors 88,712 297,652
Taxation and social security 63,949 44,729
Other creditors 1,642,015 923,448
1,971,867 1,296,119

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 14,167 24,167
Hire purchase contracts (see note 9) 150,483 -
Other creditors 56,677 -
221,327 24,167

9. LEASING AGREEMENTS

The company had total commitments under non-cancellable operating leases of £101,139 (2023: £125,139)

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 19,373 15,397
Bank loans 24,167 34,167
43,540 49,564

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.