REGISTERED NUMBER: 13498003 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VDL BUS & COACH UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D T Dowsett

Vdl Bus Beheer Bv

D Van Opzeeland

SECRETARY:

Vdl Bus Beheer Bv

REGISTERED OFFICE:

7 Barkston Road

Carlton Industrial Estate

Barnsley

South Yorkshire

S71 3HU

REGISTERED NUMBER:

13498003 (England and Wales)

AUDITORS:

Sterlings Ltd

Chartered Accountants & Registered Auditors

Lawford House

4 Albert Place

London

N3 1QA

FIXED ASSETS

Tangible assets

5

192,930

153,234

CURRENT ASSETS

Debtors

6

949,166

514,614

Cash at bank

581,566

85,683

1,530,732

600,297

CREDITORS

Amounts falling due within one year

7

584,532

428,513

NET CURRENT ASSETS

946,200

171,784

TOTAL ASSETS LESS CURRENT LIABILITIES

1,139,130

325,018

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,139,030

324,918

1,139,130

325,018

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 16 September 2025 and were signed on its behalf by:

D T Dowsett - Director

1.	STATUTORY INFORMATION

VDL Bus & Coach UK 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 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. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

* the amount of revenue can be measured reliably;

* it is probable that the Company will receive the consideration due under the contract;

* the stage of completion of the contract at the end of the reporting period can be measured reliably; and

* the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from/to related parties and investments in ordinary shares.

Debtors:

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents:

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities:

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimation can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.When payments are eventually made, they are charged to the provision carried in the Balance sheet.

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.

Foreign currencies

The company's functional and presentational currency is GBP, monetary amounts in these financial statements are rounded to the nearest £1.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company operates with the support of its parent company, VDL Bus & Coach BV. Alongside this support, the profit and loss forecasts prepared indicate that the company has sufficient resources in place to enable it to continue trading for the foreseeable future. Additionally, the parent company has confirmed in writing that it will continue to support the operations of the subsidiary, both financially and operationally, of a period of no less than 12 months from the date of approval of these financial statements.

The directors have taken into consideration the company's operating structure, profit and loss forecasts and the availability of the financial strength and cash availability of the wider VDL Group if required, consider the company is able to continue meeting its liabilities as they fall due in the foreseeable future which is considered to be a period of 12 months from the date of approving the financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

12,500

29,500

Audit of 2023 Financial Statements

£12,000

Fee payable to the company's predecessor auditors for the audit of company's 2022 Financial statement

£17,500

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

9,892

206,724

2,987

219,603

Additions

58,924

31,360

614

90,898

At 31 December 2024

68,816

238,084

3,601

310,501

DEPRECIATION

At 1 January 2024

2,321

63,582

466

66,369

Charge for year

4,433

46,049

720

51,202

At 31 December 2024

6,754

109,631

1,186

117,571

NET BOOK VALUE

At 31 December 2024

62,062

128,453

2,415

192,930

At 31 December 2023

7,571

143,142

2,521

153,234

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

38,799

33,510

Amounts owed by group undertakings

818,213

337,812

Other debtors

92,154

143,292

949,166

514,614

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

69,897

77,064

Amounts owed to group undertakings

97,707

110,540

Taxation and social security

402,137

126,165

Other creditors

14,791

114,744

584,532

428,513

8.	OPERATING LEASE COMMITMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

94,630

39,781

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Moss (Senior Statutory Auditor)

for and on behalf of Sterlings Ltd

10.	RELATED PARTY DISCLOSURES

In accordance with FRS 102 Section 33 ‘Related Party Disclosures’ the company has taken advantage of

the exemption to not disclose transactions with the parent company or any wholly owned subsidiary

undertakings of the group.

11.	ULTIMATE CONTROLLING PARTY

The immediate parent company of the company is VDL Bus & Coach B.V. and the directors regards VDL

Groep B.V., a company registered in the Netherlands, as the ultimate parent company.

A copy of the consolidated financial statements of VDL Groep B.V. can be obtained from VDL Groep B.V.

Hoevenweg 1, 5652 AW, Eindhoven, Netherlands.

The directors consider there to be one ultimate controlling individual, Mr W V Der Leegte.

VDL Groep B.V. is the parent of the smallest and largest company in the group of which VDL Bus &

Coach UK Limited is a member and for which group accounts are prepared.