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Registered number: 05817381
HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
REGISTERED NUMBER: 05817381
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors due within 1 year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
REGISTERED NUMBER: 05817381
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 15 form part of these financial statements.
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
HC Mobility Ltd (formerly known as Take Me Group Ltd) is a private limited company limited by shares and incorporated in England and Wales. The address of the registered office is Take Me Finance Office, Ashby Road, Rutland Lodge, Loughborough, LE11 3TR. The principal activity of the company in the year under review continued to be that of private hire taxi services.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
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Early adoption of revised FRS 102
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The company has voluntarily chosen to early adopt the revised FRS 102 (September 2024). The
impact of this is in relation to Lease accounting (for Lessees). The company used FRS 101 ‘Reduced
Disclosure Framework’ in the prior year where lease accounting treatment is consistent with the
revised FRS 102 (September 2024). Hence, it is beneficial to continue using the same treatment for
leases by early adopting the revised FRS 102. As a result, there are no material changes to these
financial statements compared to last year, hence no further disclosures are required. The detailed
accounting policy note for leases is included at note 2.4.
The company has evaluated other changes in early adoption of FRS 102, in particular, Revenue
recognition, Supplier Finance Arrangements and Going concern. There is no material impact of these
changes to the financial statements of the company.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenu 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 revenu is recognised:
Rendering of services
Revenue from providing services is recognised in the accounting period in which the services are rendered.
For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously.
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Leased assets: the company as lessee
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The company assesses whether a contract is or contains a lease, at inception of a contract. The company recognises a right-of-use asset and a corresponding lease liability with respect to all lease agreements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets. For these leases, the Company recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the company uses its incremental borrowing rate.
Lease payments included in the measurement of the lease liability comprise:
- fixed lease payments (including in-substance fixed payments), less any lease incentives;
The lease liability is included in 'Creditors' on the Balance sheet.
The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.
The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses.
Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease.
The right-of-use assets are included in the 'Intangible Assets', 'Tangible Fixed Assets' and 'Investment Property' lines, as applicable, in the Balance sheet.
The company applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in note 2.11.
As a practical expedient, FRS 102 permits a lessee not to separate non-lease components, and instead account for any lease and associated non-lease components as a single arrangement. The Company has used this practical expedient.
Interest income is recognised in profit or loss using the effective interest method.
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over 10 years.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Intangible property is amortised on a straight line basis to the Statement of comprehensive income over 10 years.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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.
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The company discounts its trade debts. The accounting policy is to include trade debtors discounted with recourse under trade debtors due within one year and to record the returnable element of the finance advanced under creditors due within one year. Discount fees are charged to profit and loss account when payable. Bad debts are borne by the company and are charged to profit and loss account when reasonably foreseeable.
The company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The company's accounting policies in respect of financial instruments transactions are explained below:
Financial assets and financial liabilities are initially measured at fair value.
Financial assets
All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Judgments in applying accounting policies and key sources of estimation uncertainty
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a) Critical judgements in applying the group's accounting policies
No significant judgements have had to be made by the company in preparing these financial statements.
b) Key accounting estimates and assumptions
The company has made key assumptions and accounting estimates regardings:
(i) the useful economic life of intangible fixed assets and tangible fixed assets and this is further described in notes 2.10 and 2.11 of accounting policies.
(ii) Trade debtors are recorded at their estimated recoverable amount and are reported net of bad debt provisions. A full line by line review is carried out based on subsequent receipt of debt post period end, as well as historical experience of the client. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.
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The average monthly number of employees, including directors, during the year was 48 (2023 - 7).
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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Charge for the year on financed assets
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Included within the above are tangible fixed assets held under hire purchase contracts with a net book value of £116,012 (2023: £92,004). During the year, depreciation was charged to these assets totaling £43,698 (2023: £19,056).
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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Tangible fixed assets owned and hire purchase
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Right-of-use tangible fixed assets
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings and related parties
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Lease liabilities (Note 15)
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Accruals and deferred income
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Included in bank overdrafts, are invoice discounting facilities amounting to £766,836 (2023: £237,394) which are secured by fixed and floating charge over the assets of the company.
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due after more than one year
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Lease liabilities (Note 15)
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Amounts owed to group undertakings
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Bank loans due within and after one year amounting to £48,167 (2023: £82,167) are secured by way of a fixed and floating charge over the assets of the company. Other bank loans due within and after one year of £163,790 (2023: £118,104) are not secured.
Net obligations under hire purchase contracts due within and after one year are secured on the assets to which they relate.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 2-5 years
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Later than 1 year and not later than 5 years
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Right of use asset lease liabilities
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Later than 1 year and not later than 5 years
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Allotted, called up and fully paid
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100 (2023 - 100) Ordinary shares of £1.00 each
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The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £21,133 (2023: £7,605).
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HC MOBILITY LTD (FORMERLY KNOWN AS TAKE ME GROUP LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Related party transactions
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The company has taken advantage of exemption, under the terms of FRS 102 not to disclose related party transactions with entities within the group.
Included within consultancy costs is an amount of £113,695 (2023 - £78,000) paid to directors of the company for services rendered.
Included within consultancy costs is an amount of £113,695 (2023 - £78,000) paid to companies under common directorship.
Included within consultancy costs is an amount of £68,267 (2023 - £Nil) paid to a company under common control.
Included within management fees is an amount of £4,052 (2023 - £22,148) paid to the former parent company, MBH Corporation Plc. In the prior year amounts due from MBH Corporation Plc of £295,235 were written off as an exceptional cost.
Included within amounts owed by group undertakings and related parties, are amounts of £288,944 (2023 - £Nil) owed by a company under common control.
Included within other creditors are an amount of £75,000 (2023 - £Nil) owed to a company under common control.
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Post balance sheet events
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On 1 June 2025, the trade and assets of HC Mobility Services Ltd (formerly known as Take Me Services Ltd), a related party by common directorship, have been transferred into the company and this is expected to contribute additional revenue of £3m per annum to the company.
The ultimate parent company is Take Me Holdings Limited, and this company prepares concolidated financial statements which incorporates the results of the company. Copies of the consolidated financial statements can be obtained from Take Me Holdings Limited, Take Me Finance office, Ashley Road, Rutland Lodge, Loughborough, England, LE11 3TR.
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 26 September 2025 by Ben Bradley (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
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