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Registered number: 13983581
BIPI MOBILITY UK LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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BIPI MOBILITY UK LIMITED
REGISTERED NUMBER: 13983581
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one 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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BIPI MOBILITY UK LIMITED
REGISTERED NUMBER: 13983581
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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 profit and loss account 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 on 29 September 2025.
The notes on pages 3 to 12 form part of these financial statements.
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
BIPI Mobility UK Limited is a private company limited by shares, which is incorporated under the Companies Act 2006 and is registered in England and Wales (company number 13983581). The company's registered address is c/o Langtons, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.
These financial statements present information about the company as an individual undertaking. The principal activity of the company is that of the short-time hire of vehicles.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been consistently applied:
In the current accounting period, the company has made a loss, as it did in the previous accounting period. These losses are funded by loans as well as capital received from the company's parent. Capital of £3m was received by the company from its parent in November 2024. Loans from the parent company are not repayable until after 12 months from the approval of these financial statements (as disclosed in note 9). With such parent support, the directors consider that it is appropriate for these financial statements to be prepared on a going concern basis.
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP and is rounded to the nearest pound.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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
The Company provides car subscriptions to its customers, simplifying the logistical and practical ownership challenges by bundling the costs into one monthly fee. Subscription durations can vary. However, the 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.
Subscriptions are invoiced to customers monthly (one month being the minimum period for which a customer can subscribe and hire a vehcile). Bipi offers the possibility to customers to pay the full subscription in advance (for example 12 months): in this situation, Bipi will invoice the full length of the invoice, but will only recognise each month the corresponding revenue consistent with the phasing of the associated costs.
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BIPI MOBILITY UK LIMITED
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 loan instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Current and deferred taxation
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The tax credit for the period comprises current and deferred tax. 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.
Short-term debtors are measured at transaction price, less any impairment.
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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.
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
Classification – financial assets
IFRS 9 contains three principal classification categories for financial assets: measured at amortised cost, fair value through other comprehensive income (“FVOCI”) and fair value through profit and loss (“FVTPL”). A financial asset is measured at amortised cost if both the following conditions are met and it has not been designated as FVTPL:
- the asset is held within a business model whose objective is to hold the asset to collect its contractual cash flows; and,
- the contractual terms of the financial asset give rise to cash flows on specified dates that represent solely payments of principal and interest (the “SPPI criterion”) on the outstanding principal amount.
A summary of the Company’s financial assets is as follows:
Financial assets Classification under IFRS9
Customer & other receivables Amortised cost – hold to collect business model & SPPI criterion met
Cash and short term deposits Amortised cost
Initial recognition and measurement
Under IFRS 9 the company initially measures a financial asset at Its fair value plus directly attributable transaction costs, unless the asset is classified as FVTPL.
Subsequent measurement
A summary of the subsequent measurement of financial assets is set out below.
Financial assets at amortised cost -
Subsequently measured at amortised cost using the simplified approach of the “expected credit loss” model. The amortised cost is reduced by impairment losses.
Derecognition
A financial asset is derecognised primarily when:
- the rights to receive cash flows from the asset have expired;
- the Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows In full without material delay to a third party under a "pass through" arrangement; and either a) the Company has transferred substantially all the risks and rewards of the asset, or b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset; or
- the Company has taken actions not to pursue collection, for example in instances of bankruptcy or individual voluntary arrangement.
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Financial liabilities
Initial recognition and measurement
The Company has classified its financial liabilities as follows:
Financial liabilities Classification under IFRS9
Group loans Amortised cost
Trade and other payables Amortised cost
All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.
Subsequent measurement
A summary of the subsequent measurement of financial liabilities is set out below.
Financial liabilities assets at amortised cost -
Subsequently measured at amortised cost using the EIR (Effective Interest Rate) method. The EIR amortisation ls included in finance costs in the profit and loss account.
The Company aims to transition to a general impairment approach, using an expected credit loss model under IFRS 9, during the year to 31 December 2025.
Derecognition
A financial liability is derecognised when the obligation under the liability is discharged, cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the de-recognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the Income Statement.
Offsetting of financial instruments
Financial assets and financial liabilities are offset and the net amount is reported in the Balance Sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention and ability to settle on a net basis, to realise the assets and settle the liabilities simultaneously.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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The average monthly number of employees, including the director, during the year was as follows:
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Prepayments and accrued income
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Impairment of trade debtors
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Cash and cash equivalents
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Loan from group undertaking
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The loan from BIPI Mobility S L (a Spanish company) bears an annual interest rate of Euribor + 2.09% and is repayable in April 2028.
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Analysis of the maturity of loans is given below:
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Amounts falling due 1-2 years
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Tax on loss for year (Note 5)
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The deferred tax asset is made up as follows:
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Tax losses carried forward
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Allotted, called up and fully paid
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800,002 (2023 - 800,001) Ordinary shares of £1.00 each
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On 1 November 2024, one ordinary share was issued for consideration of £3,000,000.
Share premium account
Following the share issue on 1 November 2024, £2,999,999 was credited to the share premium account.
Profit and loss account
The profit and loss account includes all current and prior period retained profits and losses.
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BIPI MOBILITY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Related party transactions
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Loan from BIPI Mobility S.L
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Interest paid on loan from BIPI Mobility S.L
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Staff recharge from BIPI Mobility S L
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Marketing cost from BIPI Mobility S L
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Other overheads from BIPI Mobility S L
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BIPI Mobility S.L is a company registered in Spain and is the company's parent. The immediate parent company is disclosed below.
The loan from BIPI Mobility S.L carries an interest rate of Euribor + 2.09% and is repayable in April 2026. An interest cost of £74,248 (2023 - £16,151) is included in the profit and loss account as an expense.
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Post balance sheet events
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There are no adjusting- or non-adjusting post balance sheet events to disclose.
The company's immediate parent company is BIPI Mobility SL, a company based in Spain.
The company's ultimate parent company is Groupe Renault, a company based in France.
The controlling party is Renault S.A.S, whose accounts are available at 122-122 bis avenue du Général Leclerc, 92 100 Boulogne-Billancourt, France.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 29 September 2025 by Michael Davidson (Senior statutory auditor) on behalf of Forvis Mazars LLP.
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