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REGISTERED NUMBER: 02860552 (England and Wales)

| Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Birkenhead Car & Van Hire Ltd |

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Birkenhead Car & Van Hire Ltd

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | R J Houghton

| R M Houghton

| SECRETARY: | R M Houghton

| REGISTERED OFFICE: | Hind Street

| Birkenhead

| Wirral

| Merseyside

| CH41 5DA

| REGISTERED NUMBER: | 02860552 (England and Wales)

| ACCOUNTANTS: | SB&P

| Chartered Accountants

| Oriel House

| 2-8 Oriel Road

| Bootle

| Liverpool

| Merseyside

| L20 7EP

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 31,848 |  | 24,268 |  |

Tangible assets | 5 | 14,730,277 |  | 11,737,050 |  |

Investments | 6 | 20,067 |  | 20,067 |  |

14,782,192 |  | 11,781,385 |  |

CURRENT ASSETS

Stocks | 7 | 1,039,181 |  | 797,767 |  |

Debtors | 8 | 1,313,409 |  | 776,115 |  |

Cash at bank and in hand | 233,188 |  | 185,440 |  |

2,585,778 |  | 1,759,322 |  |

CREDITORS

Amounts falling due within one year | 9 | 4,095,025 |  | 3,356,837 |  |

NET CURRENT LIABILITIES | (1,509,247 | ) | (1,597,515 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 13,272,945 |  | 10,183,870 |  |

CREDITORS

Amounts falling due after more than one year | 10 | (9,037,058 | ) | (6,024,054 | ) |

PROVISIONS FOR LIABILITIES | (1,153,915 | ) | (1,123,390 | ) |

NET ASSETS | 3,081,972 |  | 3,036,426 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 4 |  | 4 |  |

Revaluation reserve | 13 | 357,586 |  | 360,635 |  |

Retained earnings | 2,724,382 |  | 2,675,787 |  |

SHAREHOLDERS' FUNDS | 3,081,972 |  | 3,036,426 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year 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.

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Balance Sheet - continued

31 March 2025

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 7 October 2025 and were signed on its behalf by:

R J Houghton - Director

R M Houghton - Director

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Birkenhead Car & Van Hire Ltd 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 as modified by the revaluation of certain assets.

| Preparation of consolidated financial statements

| The financial statements contain information about Birkenhead Car & Van Hire Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Turnover

| Turnover consists of the following income streams: |  |

| Contract Hire |  |

| Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to |  | consideration. It is measured at the fair value of the consideration. Where a service is incomplete at the year end, turnover | represents the value of the service provided to that date based on an appropriate proportion of the total expected | consideration due. |

| Any prepaid consideration on long term contracts is provided for and included as contract hire in advance within other |  | creditors |

| Daily Hire |  |

| Income is recognized upon the date that the contract is agreed. |  |

| ABI Sales |  |

| Income is recognized upon the return of the vehicle at which point an invoice is raised to the insurance company. |  |

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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.

| Intangible asset are being amortised evenly over their estimated useful life of nil years.

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation is provided on tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset on a systematic basis over its expected useful life as follows:

| Property improvements |  | 20% reducing balance |

| Plant and machinery |  | 20% reducing balance |

| Land and Buildings |  | 0-2% on cost |

| Fixtures and fittings |  | 20% reducing balance |

| Motor vehicles |  | 25% reducing balance and 25% on cost depending upon agreement |

| Other assets |  | 20% reducing balance |

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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

| 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.

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Lessor operating leases

| The net book value of assets held for use in operating leases is £13,283,939 (2024: £10,261,264). Depreciation charged in the year amounted to £3,565,785 (2024: £2,505,263).

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 24 (2024 - 21 ) .

4. | INTANGIBLE FIXED ASSETS

| Intangible |

| Goodwill |  | asset |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 520,000 |  | 24,268 |  | 544,268 |  |

| Additions | - |  | 7,580 |  | 7,580 |  |

| At 31 March 2025 | 520,000 |  | 31,848 |  | 551,848 |  |

| AMORTISATION

| At 1 April 2024

| and 31 March 2025 | 520,000 |  | - |  | 520,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 31,848 |  | 31,848 |  |

| At 31 March 2024 | - |  | 24,268 |  | 24,268 |  |

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | TANGIBLE FIXED ASSETS

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 1,310,000 |  | 459,537 |  | 107,416 |  |

| Additions | - |  | - |  | 13,113 |  |

| Disposals | - |  | - |  | - |  |

| At 31 March 2025 | 1,310,000 |  | 459,537 |  | 120,529 |  |

| DEPRECIATION

| At 1 April 2024 | 37,200 |  | 338,941 |  | 67,993 |  |

| Charge for year | 6,200 |  | 24,119 |  | 9,907 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 March 2025 | 43,400 |  | 363,060 |  | 77,900 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,266,600 |  | 96,477 |  | 42,629 |  |

| At 31 March 2024 | 1,272,800 |  | 120,596 |  | 39,423 |  |

| Fixtures |

| and |  | Motor |  | Other |

| fittings |  | vehicles |  | assets |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 129,992 |  | 19,053,299 |  | 8,184 |  | 21,068,428 |  |

| Additions | 7,216 |  | 8,183,186 |  | - |  | 8,203,515 |  |

| Disposals | - |  | (4,899,267 | ) | - |  | (4,899,267 | ) |

| At 31 March 2025 | 137,208 |  | 22,337,218 |  | 8,184 |  | 24,372,676 |  |

| DEPRECIATION

| At 1 April 2024 | 87,510 |  | 8,792,036 |  | 7,698 |  | 9,331,378 |  |

| Charge for year | 9,454 |  | 3,565,785 |  | 97 |  | 3,615,562 |  |

| Eliminated on disposal | - |  | (3,304,541 | ) | - |  | (3,304,541 | ) |

| At 31 March 2025 | 96,964 |  | 9,053,280 |  | 7,795 |  | 9,642,399 |  |

| NET BOOK VALUE

| At 31 March 2025 | 40,244 |  | 13,283,938 |  | 389 |  | 14,730,277 |  |

| At 31 March 2024 | 42,482 |  | 10,261,263 |  | 486 |  | 11,737,050 |  |

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | TANGIBLE FIXED ASSETS - continued

| Cost or valuation at 31 March 2025 is represented by:

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| Valuation in 2019 | 502,475 |  | - |  | - |  |

| Cost | 807,525 |  | 459,537 |  | 120,529 |  |

1,310,000 |  | 459,537 |  | 120,529 |  |

| Fixtures |

| and |  | Motor |  | Other |

| fittings |  | vehicles |  | assets |  | Totals

£ | £ | £ | £ |

| Valuation in 2019 | - |  | - |  | - |  | 502,475 |  |

| Cost | 137,208 |  | 22,337,218 |  | 8,184 |  | 23,870,201 |  |

137,208 |  | 22,337,218 |  | 8,184 |  | 24,372,676 |  |

| Freehold land and buildings were valued on an open market basis on 28 March 2018 by Matthews and Goodman .

| The directors do not consider the valuation at 31 March 2025

| to be materially different to this valuation.

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

| Motor

| vehicles

£ |

| COST OR VALUATION

| At 1 April 2024 | 11,950,912 |  |

| Additions | 8,078,713 |  |

| Transfer to ownership | (4,580,782 | ) |

| At 31 March 2025 | 15,448,843 |  |

| DEPRECIATION

| At 1 April 2024 | 4,054,865 |  |

| Charge for year | 2,537,020 |  |

| Transfer to ownership | (2,423,534 | ) |

| At 31 March 2025 | 4,168,351 |  |

| NET BOOK VALUE

| At 31 March 2025 | 11,280,492 |  |

| At 31 March 2024 | 7,896,047 |  |

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

6. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 20,067 |  |

| NET BOOK VALUE

| At 31 March 2025 | 20,067 |  |

| At 31 March 2024 | 20,067 |  |

7. | STOCKS

| 31.3.25 |  | 31.3.24

£ | £ |

| Stocks | 1,039,181 |  | 797,767 |  |

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 546,480 |  | 355,943 |  |

| Bad debt provision | (3,583 | ) | (3,583 | ) |

| Amounts owed by group undertakings | 302,895 |  | 137,128 |  |

| Other debtors | 19,637 |  | 28,379 |  |

| Directors' current accounts | 155,163 |  | - |  |

| Prepayments | 292,817 |  | 258,248 |  |

1,313,409 |  | 776,115 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts | 133,933 |  | 131,382 |  |

| Hire purchase contracts | 3,395,866 |  | 2,552,607 |  |

| Trade creditors | 300,791 |  | 349,459 |  |

| Tax | 67,238 |  | 153,204 |  |

| Social security and other taxes | 12,437 |  | 15,496 |  |

| VAT | 40,322 |  | 18,380 |  |

| Other creditors | 84,247 |  | 54,550 |  |

| Directors' current accounts | - |  | 20,392 |  |

| Accrued expenses | 60,191 |  | 61,367 |  |

4,095,025 |  | 3,356,837 |  |

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans - 1-2 years | 57,336 |  | 133,625 |  |

| Bank loans - 2-5 years | 141,673 |  | 146,592 |  |

| Bank loans more 5 yr by instal | 264,816 |  | 304,599 |  |

| Hire purchase contracts | 8,573,233 |  | 5,439,238 |  |

9,037,058 |  | 6,024,054 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 264,816 |  | 304,599 |  |

11. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans | 597,758 |  | 716,198 |  |

| Hire purchase contracts | 11,969,099 |  | 7,991,845 |  |

12,566,857 |  | 8,708,043 |  |

| Vehicles held on hire purchase are secured by the asset to which they relate by one of five finance companies.

| Lombard North Central Plc holds a charge, dated 2nd July 2012, over the sub-hire agreements.

| The Royal Bank of Scotland Plc holds a floating charge over the assets of the company dated 12 August 2015.

| Santander Asset Finance Plc holds a fixed charge over the assets of the company dated 27 January 2016.

| Lloyds Bank PLC and Lloyds UDT Leasing Limited hold a fixed charge over the assets of the company dated 26 January 2017.

| Lloyds Bank PLC also holds a fixed charge over the company's Hind Street property dated 20 August 2019

| The company's CBIL loan is guaranteed by HM Government.

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 4 | Ordinary | 1 | 4 |  | 4 |  |

Birkenhead Car & Van Hire Ltd (Registered number: 02860552)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

13. | RESERVES

| Revaluation

| reserve

£ |

| At 1 April 2024 | 360,635 |  |

| Transfer between reserves | (3,049 | ) |

| At 31 March 2025 | 357,586 |  |

14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31.3.25 |  | 31.3.24

£ | £ |

| R M Houghton

| Balance outstanding at start of year | 18,747 |  | - |  |

| Amounts advanced | 50,478 |  | 18,747 |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 69,225 |  | 18,747 |  |

| R J Houghton

| Balance outstanding at start of year | 1,644 |  | - |  |

| Amounts advanced | 82,218 |  | 1,644 |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 83,862 |  | 1,644 |  |