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REGISTERED NUMBER: 05270937 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Simple Self Drive Ltd

Simple Self Drive Ltd (Registered number: 05270937)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simple Self Drive Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mr Khabbab Qayyum Mehr





REGISTERED OFFICE: Simplex House
Freshwater Road
Dagenham
RM8 1RX





REGISTERED NUMBER: 05270937 (England and Wales)






Simple Self Drive Ltd (Registered number: 05270937)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,378,762 7,275,859

CURRENT ASSETS
Debtors 5 1,397,817 1,558,381
Cash at bank and in hand 128,901 72,908
1,526,718 1,631,289
CREDITORS
Amounts falling due within one year 6 1,628,770 1,693,046
NET CURRENT LIABILITIES (102,052 ) (61,757 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,276,710

7,214,102

CREDITORS
Amounts falling due after more than
one year

7

7,091,309

6,506,977
NET ASSETS 1,185,401 707,125

CAPITAL AND RESERVES
Called up share capital 1,020 1,020
Retained earnings 1,184,381 706,105
1,185,401 707,125

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

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

Simple Self Drive Ltd (Registered number: 05270937)

Balance Sheet - continued
31 October 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 14 April 2025 and were signed by:





Mr Khabbab Qayyum Mehr - Director


Simple Self Drive Ltd (Registered number: 05270937)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Simple Self Drive Ltd 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" and the companies Act 2006.
The financial statements have been prepared under historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

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.
Land and buildings - at variable rates on reducing balance
Plant and machinery etc - 10% , 20% & 25% on reducing balance

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.


Simple Self Drive Ltd (Registered number: 05270937)

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

2. ACCOUNTING POLICIES - continued
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.

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 16 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 239,648 8,969,185 9,208,833
Additions - 2,169,328 2,169,328
Disposals - (126,081 ) (126,081 )
At 31 October 2024 239,648 11,012,432 11,252,080
DEPRECIATION
At 1 November 2023 201,850 1,731,125 1,932,975
Charge for year 27,536 942,845 970,381
Eliminated on disposal - (30,038 ) (30,038 )
At 31 October 2024 229,386 2,643,932 2,873,318
NET BOOK VALUE
At 31 October 2024 10,262 8,368,500 8,378,762
At 31 October 2023 37,798 7,238,060 7,275,858

Simple Self Drive Ltd (Registered number: 05270937)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023 7,979,264
Additions 2,143,964
Disposals (126,081 )
At 31 October 2024 9,997,147
DEPRECIATION
At 1 November 2023 1,338,657
Charge for year 871,795
Eliminated on disposal (30,038 )
At 31 October 2024 2,180,414
NET BOOK VALUE
At 31 October 2024 7,816,733
At 31 October 2023 6,640,607

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 75,260 180,922
Amounts owed by group undertakings 70,000 70,000
Other debtors 1,183,354 1,241,074
Directors' current accounts - 17,218
VAT 52,803 -
Prepayments and accrued income 16,400 49,167
1,397,817 1,558,381

Simple Self Drive Ltd (Registered number: 05270937)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans 240,000 240,000
Hire purchase contracts 1,037,706 1,000,755
Trade creditors 264,692 223,037
Social security and other taxes 5,830 5,228
Pension Payable 1,503 502
VAT - 51,892
Other creditors 46,782 168,069
Directors' current accounts 4,512 -
Accrued expenses 27,745 3,563
1,628,770 1,693,046

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans 200,000 440,000
Hire purchase contracts 5,776,067 5,201,999
Other creditors 1,055,242 864,978
Directors' loan accounts 60,000 -
7,091,309 6,506,977

8. RELATED PARTY DISCLOSURES

Amounts owed by group undertakings of £70,000 (2023: £70,000) relates to Simple Accident Holdings Ltd, this is the parent company.

Director's current account balance of £4,512 (2023: £17,218 debit) relates to director Mr K Q Mehr.

Director's loan account balance of £60,000 also relates to director Mr K Q Mehr.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Simple Accident Holdings Limited, which is owned by Mr K Q Mehr and City Group Inter-Rent Limited.