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REGISTERED NUMBER: 08697102 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 May 2024

for

BATHWICK CAR AND VAN HIRE LIMITED

BATHWICK CAR AND VAN HIRE LIMITED (REGISTERED NUMBER: 08697102)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BATHWICK CAR AND VAN HIRE LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: H M W Clifford
S A Clifford





REGISTERED OFFICE: Bath Road Industrial Estate
Bath Road
Chippenham
Wiltshire
SN14 0AB





REGISTERED NUMBER: 08697102 (England and Wales)





ACCOUNTANTS: Gravita
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

BATHWICK CAR AND VAN HIRE LIMITED (REGISTERED NUMBER: 08697102)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 391,338 430,641

CURRENT ASSETS
Debtors 5 56,918 64,011

CREDITORS
Amounts falling due within one year 6 (370,960 ) (335,998 )
NET CURRENT LIABILITIES (314,042 ) (271,987 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,296

158,654

CREDITORS
Amounts falling due after more than one
year

7

(60,438

)

(28,416

)

PROVISIONS FOR LIABILITIES (95,440 ) (105,114 )
NET (LIABILITIES)/ASSETS (78,582 ) 25,124

CAPITAL AND RESERVES
Called up share capital 10 240,100 240,100
Retained earnings (318,682 ) (214,976 )
SHAREHOLDERS' FUNDS (78,582 ) 25,124

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BATHWICK CAR AND VAN HIRE LIMITED (REGISTERED NUMBER: 08697102)

Balance Sheet - continued
31 MAY 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





H M W Clifford - Director


BATHWICK CAR AND VAN HIRE LIMITED (REGISTERED NUMBER: 08697102)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024


1. COMPANY INFORMATION

Bathwick 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 company's principal activities and nature of its operations are that of the hire of cars, vans and camper vans.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised 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.

BATHWICK CAR AND VAN HIRE LIMITED (REGISTERED NUMBER: 08697102)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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 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.

BATHWICK CAR AND VAN HIRE LIMITED (REGISTERED NUMBER: 08697102)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 33,638 615,989 649,627
Additions 1,293 272,630 273,923
Disposals - (269,307 ) (269,307 )
At 31 May 2024 34,931 619,312 654,243
DEPRECIATION
At 1 June 2023 16,142 202,844 218,986
Charge for year 2,818 125,122 127,940
Eliminated on disposal - (84,021 ) (84,021 )
At 31 May 2024 18,960 243,945 262,905
NET BOOK VALUE
At 31 May 2024 15,971 375,367 391,338
At 31 May 2023 17,496 413,145 430,641

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 527,772
Additions 194,135
Disposals (102,595 )
Transfer to ownership (317,729 )
At 31 May 2024 301,583
DEPRECIATION
At 1 June 2023 145,812
Charge for year 68,680
Eliminated on disposal (26,989 )
Transfer to ownership (91,961 )
At 31 May 2024 95,542
NET BOOK VALUE
At 31 May 2024 206,041
At 31 May 2023 381,960

BATHWICK CAR AND VAN HIRE LIMITED (REGISTERED NUMBER: 08697102)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,410 15,395
Tax - 11,388
Prepayments and accrued income 46,508 37,228
56,918 64,011

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 149,872 106,335
Hire purchase contracts 123,705 124,511
Trade creditors 60,278 57,917
Amounts owed to group undertakings 23,428 12,239
Social security and other taxes 572 781
VAT 526 1,823
Other creditors 9,879 1,314
Directors' current accounts - 27,078
Accruals and deferred income 2,700 4,000
370,960 335,998

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 60,438 28,416

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 149,872 106,335

9. SECURED DEBTS

The company and a related party, Clifford HoldCo Limited, are party to an Omnibus Guarantee and Set-Off Agreement in favour of the company's bankers. As at 31 May 2024 the combined potential liability was £609,843 (2023 : £577,521).

BATHWICK CAR AND VAN HIRE LIMITED (REGISTERED NUMBER: 08697102)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
240,100 Ordinary £1 240,100 240,100

11. RELATED PARTY DISCLOSURES

The company trades from property owned by its parent company, Clifford Holdco Limited, no rental is charged for the use of this property and the company does not pay utility costs.

At the year end date the amount of £23,428 (2023 - £12,239) was owed to Clifford Holdco Limited by the company.

H M W Clifford and S A Clifford are directors of Byerley Stud (Courtlands) Limited. At the year end the company was owed £1,840 (2023 - £3,416) by Byerley Stud (Courtlands) Limited. This amount is included within trade debtors.

12. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Clifford Parentco Limited by virtue of its 100% holding in the company's immediate parent entity, Clifford Holdco Limited. Clifford Holdco Limited holds 99.95% of the company's ordinary share capital.

The registered office of both Clifford Holdco Limited and Clifford Parentco Limited is: Bath Road Industrial Estate, Bath Road, Chippenham, Wiltshire, SN14 0AB.