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REGISTERED NUMBER: 04310747 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

M4 Self Drive Limited
Trading as
Swindon Car and Van Rental

M4 Self Drive Limited (Registered number: 04310747)
Trading as Swindon Car and Van Rental






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M4 Self Drive Limited
Trading as Swindon Car and Van Rental

Company Information
for the Year Ended 31 December 2024







DIRECTORS: D Tompkins
Mrs M J Tompkins
J L Watson
Miss L M Tompkins





SECRETARY: Mrs M J Tompkins





REGISTERED OFFICE: 1b Station Road
Swindon
Wiltshire
SN1 2BD





REGISTERED NUMBER: 04310747 (England and Wales)

M4 Self Drive Limited (Registered number: 04310747)
Trading as Swindon Car and Van Rental

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,929,827 1,837,643
1,929,827 1,837,643

CURRENT ASSETS
Stocks 696,819 541,952
Debtors 6 168,311 303,334
Cash at bank and in hand 58,171 101,678
923,301 946,964
CREDITORS
Amounts falling due within one year 7 1,095,582 1,196,744
NET CURRENT LIABILITIES (172,281 ) (249,780 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,757,546

1,587,863

CREDITORS
Amounts falling due after more than one
year

8

(660,042

)

(484,279

)

PROVISIONS FOR LIABILITIES (467,276 ) (437,544 )
NET ASSETS 630,228 666,040

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 630,128 665,940
SHAREHOLDERS' FUNDS 630,228 666,040

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

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

M4 Self Drive Limited (Registered number: 04310747)
Trading as Swindon Car and Van Rental

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:





D Tompkins - Director


M4 Self Drive Limited (Registered number: 04310747)
Trading as Swindon Car and Van Rental

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

1. STATUTORY INFORMATION

M4 Self Drive 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 the provisions of Section 1A "Small Entities" of 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 the historical cost convention.

The financial statement are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

Turnover
Turnover is measured at the fair value of consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rental income
Turnover from the rental of vehicles is recognised at the point of sale.

Sale of vehicles
Turnover from the sale of vehicles is recognised at the point of sale.

Bodyshop
When providing bodyshop services, turnover is usually recognised on completion of the service. For engagements that span the year end turnover is recognised by reference to the stage of completion at the balance sheet date.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of five years.

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.
Improvements to property - 10% on straight line basis
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on reducing balance and 20% on reducing balance
Motor vehicles - 20% on reducing balance

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

M4 Self Drive Limited (Registered number: 04310747)
Trading as Swindon Car and Van Rental

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 20,000
AMORTISATION
At 1 January 2024
and 31 December 2024 20,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

M4 Self Drive Limited (Registered number: 04310747)
Trading as Swindon Car and Van Rental

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 48,482 61,623 18,982 2,510,463 2,639,550
Additions - 239 1,257 1,021,732 1,023,228
Disposals - - - (934,084 ) (934,084 )
At 31 December 2024 48,482 61,862 20,239 2,598,111 2,728,694
DEPRECIATION
At 1 January 2024 20,496 46,329 11,241 723,841 801,907
Charge for year 4,848 4,278 2,752 353,409 365,287
Eliminated on disposal - - - (368,327 ) (368,327 )
At 31 December 2024 25,344 50,607 13,993 708,923 798,867
NET BOOK VALUE
At 31 December 2024 23,138 11,255 6,246 1,889,188 1,929,827
At 31 December 2023 27,986 15,294 7,741 1,786,622 1,837,643

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024 1,826,945
Additions 1,017,201
Disposals (486,121 )
Transfer to ownership (329,598 )
At 31 December 2024 2,028,427
DEPRECIATION
At 1 January 2024 422,843
Charge for year 281,218
Eliminated on disposal (139,740 )
Transfer to ownership (135,562 )
At 31 December 2024 428,759
NET BOOK VALUE
At 31 December 2024 1,599,668
At 31 December 2023 1,404,102

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 123,618 146,375
Other debtors 2,500 2,500
Prepayments 42,193 154,459
168,311 303,334

M4 Self Drive Limited (Registered number: 04310747)
Trading as Swindon Car and Van Rental

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Stocking loan 262,805 361,052
Hire purchase contracts (see note 9) 625,048 478,921
Trade creditors 20,649 212,101
Tax 44,986 65,771
Social security and other taxes 21,009 16,540
VAT 83,619 35,021
Other creditors 15,637 16,815
Directors' current accounts 32 482
Accruals 21,797 10,041
1,095,582 1,196,744

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 660,042 484,279

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 625,048 478,921
Between one and five years 660,042 484,279
1,285,090 963,200

Non-cancellable operating leases
2024 2023
£    £   
Within one year 34,911 29,324
Between one and five years 4,157 -
39,068 29,324

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Stocking loan 262,805 361,052
Hire purchase contracts 1,285,090 963,200
1,547,895 1,324,252

The stocking loan and hire purchase liabilities are secured over the assets to which they are related.

11. RELATED PARTY DISCLOSURES

During the year a company in which one of the directors is a majority shareholder charged the company rent of £60,000 for the use of business premises.