| REGISTERED NUMBER: |
| Assured Vehicle Rental Ltd |
| Strategic Report, Report of the Directors and |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| REGISTERED NUMBER: |
| Assured Vehicle Rental Ltd |
| Strategic Report, Report of the Directors and |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 3 |
| Report of the Independent Auditors | 5 |
| Income Statement | 9 |
| Other Comprehensive Income | 10 |
| Balance Sheet | 11 |
| Statement of Changes in Equity | 12 |
| Cash Flow Statement | 13 |
| Notes to the Cash Flow Statement | 14 |
| Notes to the Financial Statements | 15 |
| Assured Vehicle Rental Ltd |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditor |
| 4 Pavilion Court |
| 600 Pavilion Drive |
| Northampton Business Park |
| Northampton |
| Northamptonshire |
| NN4 7SL |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Strategic Report |
| for the Year Ended 30 September 2024 |
| The directors present their strategic report for the year ended 30 September 2024. |
| REVIEW OF BUSINESS |
| The past few years have proved to be extremely busy with significant growth year on year although this was impacted during 2024 with the loss of a major customer. |
| The 'cost of living crisis' continues with higher than expected interest rates and a high inflation rate however this has impacted all to include our customers and suppliers alike. |
| As a business we have mostly mitigated this, by fostering new customers and developing our current customers with wider customer base. |
| The 2024 turnover and profitability figures were aligned with expectations as we continue to improve the business. |
| The business remains liquid and we have a positive outlook over the coming years. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| Market factors still are forcing pressures on margins and the demand and availability of vehicles continues to challenge the market. |
| FUTURE PERFORMANCE |
| The Directors during 2024 have managed to invest in additional teams member and a refocus the business and the customer base is now much broader. Doubling the overall number of customers we have. The group is now branching out with its own direct leasing subsidiary. Delivery on our own fleet has proven not as successful as first thought and the business decision has been made to remove this feature to the business. |
| FINANCIAL PERFORMANCE |
| This is predominantly due to pressure on prices demanded by the major retailers. Turnover achieved in the year was in line with expectation. |
| The results for 2024 are very positive and pleased that as a business we are fulfilling all our strategic key performance indicators. |
| The objective in 2025 is to improve margins and turnover with new customers and suppliers and diversify the business in the leasing sector. |
| ON BEHALF OF THE BOARD: |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Report of the Directors |
| for the Year Ended 30 September 2024 |
| The directors present their report with the financial statements of the company for the year ended 30 September 2024. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of car rentals. |
| DIVIDENDS |
| An interim dividend of |
| The total distribution of dividends for the year ended 30 September 2024 will be £ |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report. |
| POLITICAL DONATIONS AND EXPENDITURE |
| Donations for the year amounted to £5,550. ( 2023 £3,270) None of the donations were to political causes. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Report of the Directors |
| for the Year Ended 30 September 2024 |
| AUDITORS |
| The auditors, Kilby Fox, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| Assured Vehicle Rental Ltd |
| Opinion |
| We have audited the financial statements of Assured Vehicle Rental Ltd (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its loss for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Report of the Independent Auditors to the Members of |
| Assured Vehicle Rental Ltd |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
| Report of the Independent Auditors to the Members of |
| Assured Vehicle Rental Ltd |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Identifying and assessing potential risks related to irregularities. |
| In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: |
| Audit response to risks identified |
| - the nature of the industry and sector, control environment and business performance including the design of the Company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets; |
| - results of our enquiries of management about their own identification and assessment of the risks of irregularities; |
| - any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to: |
| - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; |
| - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; |
| - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; |
| - the matters discussed among the audit engagement team and involving relevant internal specialists, including tax specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. |
| As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. |
| We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation. |
| Audit response to risks identified |
| As a result of performing the above, we identified revenue recognition as a key audit matter related to the potential risk of fraud. |
| Our procedures to respond to risks identified included the following: |
| - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
| - enquiring of management concerning actual and potential litigation and claims; |
| - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
| - reading minutes of meetings of those charged with governance |
| Report of the Independent Auditors to the Members of |
| Assured Vehicle Rental Ltd |
| - obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and |
| - in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
| We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Statutory Auditor |
| 4 Pavilion Court |
| 600 Pavilion Drive |
| Northampton Business Park |
| Northampton |
| Northamptonshire |
| NN4 7SL |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Income Statement |
| for the Year Ended 30 September 2024 |
| 2024 | 2023 |
| as restated |
| Notes | £ | £ |
| TURNOVER | 3 |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING (LOSS)/PROFIT | 5 | ( |
) |
| Interest receivable and similar income |
| (LOSS)/PROFIT BEFORE TAXATION | ( |
) |
| Tax on (loss)/profit | 6 |
| (LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Other Comprehensive Income |
| for the Year Ended 30 September 2024 |
| 2024 | 2023 |
| as restated |
| Notes | £ | £ |
| (LOSS)/PROFIT FOR THE YEAR | ( |
) |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
| Prior year adjustment |
| TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT |
1,666,365 |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Balance Sheet |
| 30 September 2024 |
| 2024 | 2023 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| CURRENT ASSETS |
| Debtors | 10 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 11 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Capital redemption reserve | 14 |
| Retained earnings | 14 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Statement of Changes in Equity |
| for the Year Ended 30 September 2024 |
| Called up | Capital |
| share | Retained | redemption | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 October 2022 |
| Prior year adjustment | - | - |
| As restated |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2023 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - | ( |
) | ( |
) |
| Balance at 30 September 2024 |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Cash Flow Statement |
| for the Year Ended 30 September 2024 |
| 2024 | 2023 |
| as restated |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | ( |
) |
| Tax paid | ( |
) | ( |
) |
| Net cash from operating activities | ( |
) |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Interest received |
| Net cash from investing activities |
| Cash flows from financing activities |
| Inter company loan | 110,782 | 688,130 |
| Equity dividends paid | ( |
) | ( |
) |
| Net cash from financing activities | ( |
) | ( |
) |
| (Decrease)/increase in cash and cash equivalents | ( |
) |
| Cash and cash equivalents at beginning of year |
2 |
1,177,261 |
| Cash and cash equivalents at end of year | 2 | 2,059,563 | 2,960,843 |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Notes to the Cash Flow Statement |
| for the Year Ended 30 September 2024 |
| 1. | RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| as restated |
| £ | £ |
| (Loss)/profit before taxation | ( |
) |
| Depreciation charges |
| Finance income | (72,845 | ) | (68,158 | ) |
| (75,329 | ) | 1,996,916 |
| Decrease in trade and other debtors |
| Decrease in trade and other creditors | ( |
) | ( |
) |
| Cash generated from operations | ( |
) |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 30 September 2024 |
| 30.9.24 | 1.10.23 |
| £ | £ |
| Cash and cash equivalents | 2,059,563 | 2,960,843 |
| Year ended 30 September 2023 |
| 30.9.23 | 1.10.22 |
| as restated |
| £ | £ |
| Cash and cash equivalents | 2,960,843 | 1,177,261 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.10.23 | Cash flow | At 30.9.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 2,960,843 | (901,280 | ) | 2,059,563 |
| 2,960,843 | ( |
) | 2,059,563 |
| Total | 2,960,843 | (901,280 | ) | 2,059,563 |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Assured Vehicle Rental Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Office equipment | - |
| 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. |
| 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. |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 3. | TURNOVER |
| The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the company. |
| An analysis of turnover by geographical market is given below: |
| 2024 | 2023 |
| as restated |
| £ | £ |
| United Kingdom |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| as restated |
| Administrative |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Directors' remuneration |
| Directors' pension contributions to money purchase schemes |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes |
| 5. | OPERATING (LOSS)/PROFIT |
| The operating loss (2023 - operating profit) is stated after charging: |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Operating leases |
| Depreciation - owned assets |
| Auditors' remuneration |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 6. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the loss for the year was as follows: |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Overprovision | - | (6,098 | ) |
| Tax on (loss)/profit |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2024 | 2023 |
| as restated |
| £ | £ |
| (Loss)/profit before tax | ( |
) |
| (Loss)/profit multiplied by the standard rate of corporation tax in the UK of |
( |
) |
| Effects of: |
| Expenses not deductible for tax purposes |
| Capital allowances in excess of depreciation | ( |
) | ( |
) |
| Adjustments to tax charge in respect of previous periods |
| Group interest | (7,451 | ) | (13,616 | ) |
| overprovision prior year | - | (6,098 | ) |
| Total tax charge | 672 | 461,803 |
| 7. | DIVIDENDS |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Ordinary shares of £1 each |
| Interim |
| 8. | PRIOR YEAR ADJUSTMENT |
| Following the 2023 Audit of the opening balance sheet it was necessary to restate the balance sheet relating to income recognition totalling £392,586 (understated) , direct cost recognition £332,251 (understated), the bank balance being over stated by £306,198 and trade debtors balances being understated by £306,198 as at 30 September 2022.This had an overall affect of £70,335, the tax effect was considered immaterial. |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 9. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Office |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments and accrued income |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Trade creditors |
| Corporation tax | ( |
) |
| Social security and other taxes |
| VAT | 12,252 | 82,920 |
| Other creditors |
| 12. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Within one year |
| Between one and five years |
| Assured Vehicle Rental Ltd (Registered number: 04900913) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | as restated |
| £ | £ |
| Ordinary | £1 | 200 | 200 |
| 14. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 October 2023 | 3,783,997 |
| Deficit for the year | ( |
) | ( |
) |
| Dividends | ( |
) | ( |
) |
| At 30 September 2024 | 3,322,669 |
| 15. | ULTIMATE PARENT COMPANY |
| Assured Vehicle Rental (Holdings) Limited is regarded by the directors as being the company's ultimate parent company. |
| 16. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Assured Vehicle Rental (Holdings) Limited. |
| The directors of the company are of the opinion that there is no single ultimate controlling party. |