Birkenhead Car & Van Hire Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 02860552 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Birkenhead Car & Van Hire Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Intangible assets

4

31,848

24,268

Tangible assets

5

14,730,277

11,737,050

Investments

6

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

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.

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

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.

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.

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

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

At 31 March 2024

-

24,268

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

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

Cost or valuation at 31 March 2025 is represented by:

Improvements

Freehold

to

Plant and

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

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

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

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