REGISTERED NUMBER: 13051253 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPEAR VEHICLE HIRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

G Yeo

D Spear

Mrs S Spear

REGISTERED OFFICE:

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 0LT

REGISTERED NUMBER:

13051253 (England and Wales)

ACCOUNTANTS:

Hayvenhursts Limited

Chartered Accountants

Fairway House

Links Business Park

St Mellons, Cardiff

CF3 OLT

FIXED ASSETS

Intangible assets

5

36,000

36,000

Tangible assets

6

2,191,469

2,693,819

2,227,469

2,729,819

CURRENT ASSETS

Debtors

7

43,725

101,869

Cash at bank and in hand

93,085

161,430

136,810

263,299

CREDITORS

Amounts falling due within one year

8

1,815,059

2,633,647

NET CURRENT LIABILITIES

(1,678,249

)

(2,370,348

)

TOTAL ASSETS LESS CURRENT LIABILITIES

549,220

359,471

PROVISIONS FOR LIABILITIES

412,253

309,209

NET ASSETS

136,967

50,262

CAPITAL AND RESERVES

Called up share capital

85

85

Retained earnings

136,882

50,177

136,967

50,262

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.

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 Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

G Yeo - Director

1.	STATUTORY INFORMATION

Spear Vehicle Hire 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The financial statements are prepared under the going concern basis. The directors believe this is appropriate as they believe that the company has the necessary resources at its disposal to meet its liabilities as they fall due.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the aquisition of a business is being amortised evenly over its useful life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

36,000

NET BOOK VALUE

At 31 December 2024

36,000

At 31 December 2023

36,000

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

3,178,237

Additions

2,774,578

Disposals

(3,475,104

)

At 31 December 2024

2,477,711

DEPRECIATION

At 1 January 2024

484,418

Charge for year

580,358

Eliminated on disposal

(778,534

)

At 31 December 2024

286,242

NET BOOK VALUE

At 31 December 2024

2,191,469

At 31 December 2023

2,693,819

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

37,329

46,278

Other debtors

6,396

55,591

43,725

101,869

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

821,493

854,854

Trade creditors

747

992

Amounts owed to associates

941,185

1,774,051

Taxation and social security

47,884

-

Other creditors

3,750

3,750

1,815,059

2,633,647

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

821,493

854,854

Included in Hire Purchase is secured finance. This security is in the form of fixed and floating charges over the assets of the business.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties in the year under review are Mr D. Spear, Mrs S. Spear and Mr G. Yeo.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spear Vehicle Hire Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Spear Vehicle Hire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spear Vehicle Hire Limited and state those matters that we have agreed to state to the Board of Directors of Spear Vehicle Hire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spear Vehicle Hire Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spear Vehicle Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spear Vehicle Hire Limited. You consider that Spear Vehicle Hire 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 financial statements of Spear Vehicle Hire 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 financial statements.

Hayvenhursts Limited

Chartered Accountants

Fairway House

Links Business Park

St Mellons, Cardiff

CF3 OLT

15 September 2025