REGISTERED NUMBER: 07398509 (England and Wales)

DRIVE AUTOMOTIVE & LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 OCTOBER 2023 TO 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr P R Jennings

Mrs R Shilling Jennings

REGISTERED OFFICE:

77 High Street

New Romney

Kent

TN28 8AZ

REGISTERED NUMBER:

07398509 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

Landgate Chambers

24 Landgate

Rye

East Sussex

TN31 7LJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,540

10,464

6,540

10,464

CURRENT ASSETS

Debtors

6

160,998

181,137

Cash at bank and in hand

7,395

43,991

168,393

225,128

CREDITORS

Amounts falling due within one year

7

178,224

200,928

NET CURRENT (LIABILITIES)/ASSETS

(9,831

)

24,200

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,291

)

34,664

CREDITORS

Amounts falling due after more than one year

8

25,172

34,097

NET (LIABILITIES)/ASSETS

(28,463

)

567

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

(28,465

)

565

SHAREHOLDERS' FUNDS

(28,463

)

567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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 23 July 2025 and were signed on its behalf by:

Mr P R Jennings - Director

1.	STATUTORY INFORMATION

Drive Automotive & Leisure 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

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 acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

Over the term of the lease

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

TAXATION

Taxation for the period 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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2023

and 31 March 2025

90,000

AMORTISATION

At 1 October 2023

and 31 March 2025

90,000

NET BOOK VALUE

At 31 March 2025

-

At 30 September 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 October 2023

and 31 March 2025

10,000

17,171

117,737

25,117

170,025

DEPRECIATION

At 1 October 2023

10,000

14,735

111,272

23,554

159,561

Charge for period

-

914

2,424

586

3,924

At 31 March 2025

10,000

15,649

113,696

24,140

163,485

NET BOOK VALUE

At 31 March 2025

-

1,522

4,041

977

6,540

At 30 September 2023

-

2,436

6,465

1,563

10,464

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Fixtures

and

fittings

£

COST

At 1 October 2023

and 31 March 2025

12,950

DEPRECIATION

At 1 October 2023

11,328

Charge for period

608

At 31 March 2025

11,936

NET BOOK VALUE

At 31 March 2025

1,014

At 30 September 2023

1,622

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

160,998

161,927

Other debtors

-

19,210

160,998

181,137

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Bank loans and overdrafts

-

242

Trade creditors

32,645

59,470

Taxation and social security

27,461

28,029

Other creditors

118,118

113,187

178,224

200,928

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Other creditors

25,172

34,097

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

2,949

11,874

9.	SECURED DEBTS

Lloyds TSB Bank Plc hold a fixed and floating charge over the company and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2023

value:

£

£

2

Ordinary

£1

2

2