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AFP VEHICLE HIRE LTD.

Registered Number
07562348
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

AFP VEHICLE HIRE LTD.
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

PICKERING, John

Registered Address

346 Brightside Lane
Sheffield
S9 2SP

Registered Number

07562348 (England and Wales)
AFP VEHICLE HIRE LTD.
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3229,620407,222
Investments4-10
229,620407,232
Current assets
Debtors528,73239,084
Cash at bank and on hand289,00094,708
317,732133,792
Creditors amounts falling due within one year7(439,142)(430,560)
Net current assets (liabilities)(121,410)(296,768)
Total assets less current liabilities108,210110,464
Creditors amounts falling due after one year8(9,152)(10,179)
Net assets99,058100,285
Capital and reserves
Called up share capital100100
Profit and loss account98,958100,185
Shareholders' funds99,058100,285
The financial statements were approved and authorised for issue by the Director on 27 March 2025, and are signed on its behalf by:
PICKERING, John
Director
Registered Company No. 07562348
AFP VEHICLE HIRE LTD.
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 April 2331,273908,2196,129945,621
Additions-12,442-12,442
Disposals-(156,981)-(156,981)
At 31 March 2431,273763,6806,129801,082
Depreciation and impairment
At 01 April 2331,273502,2334,893538,399
Charge for year-64,29277765,069
On disposals-(32,006)-(32,006)
At 31 March 2431,273534,5195,670571,462
Net book value
At 31 March 24-229,161459229,620
At 31 March 23-405,9861,236407,222
The above figures include assets that are held under hire purchase contracts. The aggregated cost of these assets is £21,445, and aggregated accumulated depreciation is £6,253.
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 April 231010
Disposals(10)(10)
Net book value
At 31 March 24--
At 31 March 231010

Notes

1Other investments other than loans
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables28,73229,973
Other debtors-9,111
Total28,73239,084
6.Current asset investments
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables47,7012,339
Bank borrowings and overdrafts34,67828,944
Taxation and social security18,8768,745
Finance lease and HP contracts4,8189,171
Other creditors331,068379,361
Accrued liabilities and deferred income2,0012,000
Total439,142430,560
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-5,481
Other creditors9,1524,698
Total9,15210,179
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts9,1524,698