The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Automotive Fleet Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Sovereign Court, Lancaster Way, Ermine Business Park, Huntingdon, Cambridgeshire, PE29 6XU.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Automotive Fleet Investments Limited is a wholly owned subsidiary of Fleet Assist Interco Limited and the results of Automotive Fleet Investments Limited are included in the consolidated financial statements of Fleet Assist Interco Limited which are available from 1 Sovereign Court, Lancaster Way, Ermine Business Park, Huntingdon, Cambridgeshire, PE29 6XU.

The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In addition, the company has received confirmation that its parent company will continue to support them financially as a going concern for at least twelve months from the date of the financial statements being signed.true

Based on these assessments and the current resources available, the directors has concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investments

Investments in subsidiaries are stated at cost less any provision for impairment. The carrying value is reviewed at each reporting date to assess whether there is any indication of impairment. Management review for impairments annually, where such indicators exist, the recoverable amount of the investment is estimated and any shortfall in value is recognised as an impairment loss in profit or loss.

Management has assessed that Fleet Assist Limited meets the definition of a subsidiary under FRS 102 as the company holds 100% of the voting rights and exercises control over its financial and operating policies. At the reporting date, no indicators of impairment were identified due to continued operating profits and increased net asset value in Fleet Assist Limited. As a result, an impairment review was not performed.

Bad debts

The provision for bad debts is based on a review of individual customer balances, historical loss experience, and forward-looking information including sector risks and economic conditions. Management applies judgement in assessing the creditworthiness of customers and the likelihood of recovery.

The average monthly number of persons employed by the company (excluding directors) during the year was 0 (2023 (As Restated): 0).

Details of the company's subsidiaries at 31 December 2024 are as follows:

Amounts owed to group undertakings bear an interest rate of 5%.

The amounts owed to related parties bears interest at a rate of 5% per annum. The principal amount of the loan is repayable on 31 December 2027.

Ordinary shares entitle the holder to participate in dividends and to share in the proceeds of winding up the company in proportion to the number of and amounts paid on the shares held.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

Emphasis of matter

In forming our opinion on the financial statements, we have considered the adequacy of the disclosure in note 14 to the financial statements concerning an ongoing legal case. Given the uncertainty around the ongoing legal case, no provision has been made in these financial statements. Our opinion is not modified in respect of this matter.

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

The company identified a correction of the related party balances in the prior period.

As a result, the comparative figures have been restated as follows:

Impact on Balance Sheet: £96,766 increase in other debtors and a £1,407,050 decrease in related party balances in creditors - this was all within greater than 1 year.

Impact on Profit and Loss account: £96,766 increase in interest receivable and similar income and a £1,407,050 decrease in admin expenses.

The immediate controlling party is Fleet Assist Interco Limited.

The ultimate controlling party is Steve Wilson.

The company has been named as one of over nine hundred defendants in a Chapter 15 bankruptcy adversary proceeding, filed on September 27, 2023, in the Southern District of New York, United States of America, against the previous ultimate owners of the company.

The company has joined a group of defendants in filing a motion to dismiss.  The motion to dismiss has not yet been heard.

Since the outcome of the filed motion remains unclear at the date of signing these accounts, the directors are not able to judge whether any liability is probable and determinable, hence no provision has been made in these accounts with regard to the claim.