Simply UK Fleet Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC639471

		30 November 2024		30 November 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,034,383		2,595,719

			3,034,383		2,595,719
CURRENT ASSETS
Debtors	5	844,972		570,535
Cash at bank and in hand		45,996		192,665

		890,968		763,200
Creditors: Amounts Falling Due Within One Year	6	(2,840,286 )		(2,017,280 )

NET CURRENT ASSETS (LIABILITIES)			(1,949,318 )		(1,254,080 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,085,065		1,341,639

Creditors: Amounts Falling Due After More Than One Year	7		(849,605 )		(879,242 )

NET ASSETS			235,460		462,397

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			235,360		462,297

SHAREHOLDERS' FUNDS			235,460		462,397

Page 1

Page 2

Simply UK Fleet Ltd

Balance Sheet (continued)

As At 30 November 2024

For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Gary Sharp

Director

20 November 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Simply UK Fleet Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC639471 . The registered office is Stewart House Pochard Way, Strathclyde Business Park, Bellshill, ML4 3HB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	15% Reducing Balance
Fixtures & Fittings	15% Reducing Balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

Page 3

Page 4

Simply UK Fleet Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 December 2023	3,172,691	143,679	3,316,370
Additions	592,663	13,045	605,708

As at 30 November 2024	3,765,354	156,724	3,922,078

Depreciation
As at 1 December 2023	699,099	21,552	720,651
Provided during the period	85,058	19,765	104,823
Disposals	62,221	-	62,221

As at 30 November 2024	846,378	41,317	887,695

Net Book Value
As at 30 November 2024	2,918,976	115,407	3,034,383

As at 1 December 2023	2,473,592	122,127	2,595,719

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	30 November 2024	30 November 2023
	£	£
Motor Vehicles	2,239,469	2,136,737

5. Debtors

	30 November 2024	30 November 2023
	£	£
Due within one year
Trade debtors	261,788	185,527
Prepayments and accrued income	540,000	362,182
Other debtors	100	100
VAT	43,084	22,726

	844,972	570,535

Page 4

Page 5

Simply UK Fleet Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

6. Creditors: Amounts Falling Due Within One Year

	30 November 2024	30 November 2023
	£	£
Net obligations under finance lease and hire purchase contracts	681,741	454,961
Trade creditors	148,046	250,750
Accruals and deferred income	14,760	-
Directors' loan accounts	92,319	81,521
Amounts owed to related parties	1,903,420	1,230,048

	2,840,286	2,017,280

7. Creditors: Amounts Falling Due After More Than One Year

	30 November 2024	30 November 2023
	£	£
Net obligations under finance lease and hire purchase contracts	849,605	879,242

8. Obligations Under Finance Leases and Hire Purchase

	30 November 2024	30 November 2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	681,741	454,961
Later than one year and not later than five years	849,605	879,242

	1,531,346	1,334,203

	1,531,346	1,334,203

9. Share Capital

	30 November 2024	30 November 2023
	£	£
Allotted, Called up and fully paid	100	100

Page 5