Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falsesale and hire of mobility equipment87truetrue 06775498 2023-01-01 2023-12-31 06775498 2022-01-01 2022-12-31 06775498 2023-12-31 06775498 2022-12-31 06775498 c:Director3 2023-01-01 2023-12-31 06775498 d:PlantMachinery 2023-01-01 2023-12-31 06775498 d:MotorVehicles 2023-01-01 2023-12-31 06775498 d:FurnitureFittings 2023-01-01 2023-12-31 06775498 d:FurnitureFittings 2023-12-31 06775498 d:FurnitureFittings 2022-12-31 06775498 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06775498 d:OfficeEquipment 2023-01-01 2023-12-31 06775498 d:OfficeEquipment 2023-12-31 06775498 d:OfficeEquipment 2022-12-31 06775498 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06775498 d:ComputerEquipment 2023-01-01 2023-12-31 06775498 d:ComputerEquipment 2023-12-31 06775498 d:ComputerEquipment 2022-12-31 06775498 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06775498 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06775498 d:OtherPropertyPlantEquipment 2023-12-31 06775498 d:OtherPropertyPlantEquipment 2022-12-31 06775498 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06775498 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06775498 d:CurrentFinancialInstruments 2023-12-31 06775498 d:CurrentFinancialInstruments 2022-12-31 06775498 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06775498 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06775498 d:ShareCapital 2023-12-31 06775498 d:ShareCapital 2022-12-31 06775498 d:RetainedEarningsAccumulatedLosses 2023-12-31 06775498 d:RetainedEarningsAccumulatedLosses 2022-12-31 06775498 c:FRS102 2023-01-01 2023-12-31 06775498 c:Audited 2023-01-01 2023-12-31 06775498 c:FullAccounts 2023-01-01 2023-12-31 06775498 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06775498 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06775498 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 06775498









NATIONAL MOBILITY HIRE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NATIONAL MOBILITY HIRE LIMITED
REGISTERED NUMBER: 06775498

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
863,172
704,817

Current assets
  

Debtors: amounts falling due within one year
 5 
200,791
170,845

Cash at bank and in hand
 6 
408,557
370,103

  
609,348
540,948

Creditors: amounts falling due within one year
 7 
(880,117)
(788,781)

Net current liabilities
  
 
 
(270,769)
 
 
(247,833)

Total assets less current liabilities
  
592,403
456,984

Provisions for liabilities
  

Deferred tax
  
(5,474)
(6,913)

Net assets
  
586,929
450,071


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
585,929
449,071

  
586,929
450,071


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
S Tucker
Director
Date: 30 January 2025

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
NATIONAL MOBILITY HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

National Mobility Hire Limited is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales. 
The registered office is Unit 5a, Cottage Lane Industrial Estate, Swannington Road, Broughton Astley, Leicestershire, LE9 6TU.
The principal activity of the Company during the year continued to be the sale and hire of mobility scooters and lockers to the public.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have received confirmation of continued financial support for the foreseeable future from the parent company, VENUplus Inc., thus directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest whole £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
NATIONAL MOBILITY HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
NATIONAL MOBILITY HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Lockers Installed at Customer Sites
-
20%
Straight line per annum
Motor vehicles
-
25%
straight line per annum
Fixtures and fittings
-
25%
straight line per annum
Office equipment
-
25%
straight line per annum
Computer equipment
-
25%
straight line per annum
Other fixed assets
-
33%
straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
NATIONAL MOBILITY HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Page 5

 
NATIONAL MOBILITY HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 7).

Page 6

 
NATIONAL MOBILITY HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
32,116
6,783
6,967
1,442,611
1,488,477


Additions
-
142
-
440,495
440,637


Disposals
-
-
-
(47,726)
(47,726)



At 31 December 2023

32,116
6,925
6,967
1,835,380
1,881,388



Depreciation


At 1 January 2023
2,330
6,415
1,969
772,946
783,660


Charge for the year on owned assets
3,210
345
1,742
255,505
260,802


Disposals
-
-
-
(26,246)
(26,246)



At 31 December 2023

5,540
6,760
3,711
1,002,205
1,018,216



Net book value



At 31 December 2023
26,576
165
3,256
833,175
863,172



At 31 December 2022
29,786
368
4,998
669,665
704,817

Page 7

 
NATIONAL MOBILITY HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
120,794
105,433

Other debtors
66,182
49,900

Prepayments and accrued income
13,815
15,512

200,791
170,845



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
408,557
370,103



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
25,815
22,226

Amounts owed to group undertakings
702,910
666,342

Corporation tax
45,046
26,044

Other taxation and social security
21,667
4,452

Other creditors
26,893
26,075

Accruals and deferred income
57,786
43,642

880,117
788,781



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £12,497 (2022 - £5,108). Contributions totaling £1,413 (2022 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
NATIONAL MOBILITY HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Controlling party

The immediate parent company is Safemark Inc., a company incorporated in the United States of America and the ultimate parent company is VENUplus Holding, Inc.
The largest and smallest group of undertakings for which group accounts have been prepared is that headed by VENUplus Holding Inc.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 31 January 2025 by Anthony Campbell (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.

 
Page 9