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Registration number: 05712327

PR Vehicle Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

PR Vehicle Management Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

 

PR Vehicle Management Limited

Company Information

Directors

Paul Roberts

Jean Roberts

Company secretary

Jean Roberts

Registered office

White House Business Centre Wilderspool Business Park
Greehalls Avenue
Warrington
Cheshire
WA4 6HL

Accountants

Beans Accountants Ltd
Chartered AccountantSuite F/22
The White House
Greenalls Avenue
Warrington
Cheshire
WA4 6HL

 

PR Vehicle Management Limited

Directors' Report for the Year Ended 31 October 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors of the company

The directors who held office during the year were as follows:

Paul Roberts

Jean Roberts - Company secretary and director

Principal activity

The principal activity of the company is Sale of new cars and light motor vehicles

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................
Paul Roberts
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
PR Vehicle Management Limited
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PR Vehicle Management Limited for the year ended 31 October 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in Scotland (ICAS) we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/FrameworkforthePreparationofAccounts.

This report is made solely to the Board of Directors of PR Vehicle Management Limited, as a body, in accordance with the terms of our engagement letter dated 1 February 2006. Our work has been undertaken solely to prepare for your approval the accounts of PR Vehicle Management Limited and state those matters that we have agreed to state to the Board of Directors of PR Vehicle Management Limited, as a body, in this report in accordance with the requrement of ICAS as detailed at https://www.icas.com/FrameworkforthePreparationofAccounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PR Vehicle Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PR Vehicle Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PR Vehicle Management Limited. You consider that PR Vehicle Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of PR Vehicle Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

image-name


Beans Accountants Ltd
Chartered Accountant
Suite F/22
The White House
Greenalls Avenue
Warrington
Cheshire
WA4 6HL

13 March 2025

 

PR Vehicle Management Limited

(Registration number: 05712327)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

61,798

127,113

Current assets

 

Debtors

6

902,889

1,099,118

Cash at bank and in hand

 

106,780

87,570

 

1,009,669

1,186,688

Creditors: Amounts falling due within one year

7

(72,903)

(156,956)

Net current assets

 

936,766

1,029,732

Net assets

 

998,564

1,156,845

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

998,562

1,156,843

Shareholders' funds

 

998,564

1,156,845

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................
Paul Roberts
Director

 

PR Vehicle Management Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
White House Business Centre Wilderspool Business Park
Greehalls Avenue
Warrington
Cheshire
WA4 6HL
United Kingdom

These financial statements were authorised for issue by the Board on 25 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

PR Vehicle Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vehicles

4 Years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

PR Vehicle Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

21,584

34,159

 

PR Vehicle Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

3,739

175,901

179,640

Additions

1,041

34,129

35,170

Disposals

-

(96,121)

(96,121)

At 31 October 2024

4,780

113,909

118,689

Depreciation

At 1 November 2023

2,149

50,378

52,527

Charge for the year

1,028

20,556

21,584

Eliminated on disposal

-

(17,220)

(17,220)

At 31 October 2024

3,177

53,714

56,891

Carrying amount

At 31 October 2024

1,603

60,195

61,798

At 31 October 2023

1,590

125,523

127,113

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

(22,790)

-

Amounts owed by related parties

10

365,000

380,000

Prepayments

 

6,047

118,832

Other debtors

 

554,632

600,286

   

902,889

1,099,118

7

Creditors

Creditors: amounts falling due within one year

 

PR Vehicle Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

7

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

20,304

51,224

Taxation and social security

52,598

105,732

Other creditors

1

-

72,903

156,956

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £60,000.00 per each Ordinary

160,000

120,000

 

 

10

Related party transactions

At the year end the directors owed the company £422,882 (2023 : £489,852) by way of a directors loan. The loan is not interest bearing.

 

PR Vehicle Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

10

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,140

25,088

Contributions paid to money purchase schemes

8,310

110,357

33,450

135,445