Registered number
06394656
G B Vehicle Hire (Birmingham) Limited
Report and Unaudited Accounts
31 October 2024
Collins
Chartered Accountants
West Midlands
G B Vehicle Hire (Birmingham) Limited
Registered number: 06394656
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 533,672 586,438
Current assets
Debtors 4 129,663 134,007
Cash at bank and in hand 102,505 80,023
232,168 214,030
Creditors: amounts falling due within one year 5 (228,482) (244,641)
Net current assets/(liabilities) 3,686 (30,611)
Total assets less current liabilities 537,358 555,827
Creditors: amounts falling due after more than one year 6 (71,893) (85,696)
Provisions for liabilities (69,758) (82,950)
Net assets 395,707 387,181
Capital and reserves
Called up share capital 2 2
Profit and loss account 395,705 387,179
Shareholders' funds 395,707 387,181
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Beckford
Director
Approved by the board on 25 July 2025
G B Vehicle Hire (Birmingham) Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is for vehicle hire and comprises the income receivable for hire periods during the year
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and Buildings Nil
Plant and Equipment 20% straight line
Motor Vehicles 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 254,640 241,497 335,199 831,336
Additions - 21,052 52,129 73,181
Disposals - - (58,279) (58,279)
At 31 October 2024 254,640 262,549 329,049 846,238
Depreciation
At 1 November 2023 - 127,450 117,448 244,898
Charge for the year - 43,866 40,230 84,096
On disposals - - (16,428) (16,428)
At 31 October 2024 - 171,316 141,250 312,566
Net book value
At 31 October 2024 254,640 91,233 187,799 533,672
At 31 October 2023 254,640 114,047 217,751 586,438
4 Debtors 2024 2023
£ £
Vat Repayable - 734
Prepayments and accrued income 13,283 16,893
Other debtors 116,380 116,380
129,663 134,007
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 30,220 32,071
Trade creditors 19,475 31,803
Corporation tax 32,034 31,792
Other taxes and social security costs 1,717 1,608
Directors loans 123,911 128,867
Accruals and deferred income 21,125 18,500
228,482 244,641
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 71,893 85,696
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 85,653 91,190
The Bank Loan from NatWest Bank plc is secured by a debenture over the company assets.
8 Other information
G B Vehicle Hire (Birmingham) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Lodge Castle Bromwich Hall
Chester Road
Castle Bromwich
West Midlands
B36 9DE
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