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REGISTERED NUMBER: 04661494 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ADVANCE VEHICLE RENTAL LIMITED

ADVANCE VEHICLE RENTAL LIMITED (REGISTERED NUMBER: 04661494)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADVANCE VEHICLE RENTAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: S A Ball





SECRETARY: Mrs Z Ball





REGISTERED OFFICE: Saxon House
Hellesdon Park Road
Drayton High Road
Norwich
Norfolk
NR6 5DR





REGISTERED NUMBER: 04661494 (England and Wales)





ACCOUNTANTS: Quinneys
Chartered Certified Accountants
Saxon House
Hellesdon Park Road
Norwich
Norfolk
NR6 5DR

ADVANCE VEHICLE RENTAL LIMITED (REGISTERED NUMBER: 04661494)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,151,525 2,911,226
2,151,525 2,911,226

CURRENT ASSETS
Debtors 6 676,075 1,041,837
Cash at bank and in hand 6,647 20,624
682,722 1,062,461
CREDITORS
Amounts falling due within one year 7 607,760 625,292
NET CURRENT ASSETS 74,962 437,169
TOTAL ASSETS LESS CURRENT LIABILITIES 2,226,487 3,348,395

CREDITORS
Amounts falling due after more than one
year

8

(362,812

)

(44,357

)

PROVISIONS FOR LIABILITIES (534,368 ) (678,550 )
NET ASSETS 1,329,307 2,625,488

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,329,207 2,625,388
SHAREHOLDERS' FUNDS 1,329,307 2,625,488

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

ADVANCE VEHICLE RENTAL LIMITED (REGISTERED NUMBER: 04661494)

BALANCE SHEET - continued
30 JUNE 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 26 March 2025 and were signed by:





S A Ball - Director


ADVANCE VEHICLE RENTAL LIMITED (REGISTERED NUMBER: 04661494)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Advance Vehicle Rental 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on cost, 33% on cost and 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ADVANCE VEHICLE RENTAL LIMITED (REGISTERED NUMBER: 04661494)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 1,500,000
AMORTISATION
At 1 July 2023
and 30 June 2024 1,500,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 3,268,013
Additions 3,375,603
Disposals (4,122,874 )
At 30 June 2024 2,520,742
DEPRECIATION
At 1 July 2023 356,787
Charge for year 31,722
Eliminated on disposal (19,292 )
At 30 June 2024 369,217
NET BOOK VALUE
At 30 June 2024 2,151,525
At 30 June 2023 2,911,226

Included within tangible fixed assets are items held under hire purchase agreements with a net book value of £675,465 (2023: £3,269,664).

ADVANCE VEHICLE RENTAL LIMITED (REGISTERED NUMBER: 04661494)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 657,743 30,999
Other debtors 18,332 1,010,838
676,075 1,041,837

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 193,346 190,635
Trade creditors 19,102 5,453
Taxation and social security 383,296 404,100
Other creditors 12,016 25,104
607,760 625,292

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 362,812 44,357

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 556,158 234,992

10. RELATED PARTY DISCLOSURES

During the year loans totalling £450,000 to Norwich Van Centre Ltd and Steve Ball properties of £954,557 were written off, companies in which Mr S Ball is a shareholder and director.

At the year end Norwich Van centre owed the company £616,441.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the director.