Company registration number 09134159 (England and Wales)
BILL PLANT DRIVING SCHOOL LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
BILL PLANT DRIVING SCHOOL LIMITED
COMPANY INFORMATION
Director
A Pumfrey
(Appointed 27 January 2026)
Company number
09134159
Registered office
Canalside House
7 Charter Road
Ripon
HG4 1AJ
Auditor
Littlestone Golding
17 Cavendish Square
London
W1G 0PH
BILL PLANT DRIVING SCHOOL LIMITED
CONTENTS
Page
Strategic report
1
Director's report
2 - 3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 25
BILL PLANT DRIVING SCHOOL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 1 -

The director presents the strategic report for the year ended 31 May 2025.

Review of development and financial performance during the year

The company recorded revenue of £14.0 million (202 4: £11.7 million) for the year as shown on page 7 of the financial statements.

The operating profit of £2.5 million has been achieved for the year compared to an operating profit of £1.5 million for the previous financial year.

P rofit before taxation for the period is reported at £2.2 million compared to profit before taxation of £1.3 million for the previous period.

Financial position at the reporting date

The company's balance sheet (page 9) indicates a strong financial position with net current assets of £3.8 million (2024: net liabilities of £0.2 million) and shareholders funds amounting to £0.9 million compared to a net liability of £0.7 million at the end of the previous period.

During the year under review the company fully repaid its CBILS bank loan, and drew down a new bank loan repayable over a five year term.

Principal risks and uncertainties

The principal risks and uncertainties that the company might face would be from any downturn in the economy or from the impact of a significant one-off event.

Key performance indicators

Management use a range of financial performance indicators to monitor and manage the business as set out below.

- Turnover - increased from £11.7 million to £14.0 million.

- EBITDA - increased from £1.6 million to £2.7 million,

- Profit before tax - increased from £1.3 million to £2.2 million

On behalf of the board

A Pumfrey
Director
16 February 2026
BILL PLANT DRIVING SCHOOL LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 2 -

The director presents his annual report and financial statements for the year ended 31 May 2025.

Principal activities

The principal activity of the company is that of a driving school franchisor.

Results and dividends

The results for the year are set out on page 7.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

A Watson
(Resigned 27 January 2026)
W Plant
(Resigned 5 August 2024)
A Pumfrey
(Appointed 27 January 2026)
Qualifying third party indemnity provisions

The company's Articles of Association provide, subject to the provisions of UK legislation, an indemnity for directors and officers of the company in respect of liabilities they may incur in defending certain proceedings against them.

Future developments

The company will continue to develop and expand its driving school franchisor business.

Auditor

The auditor, Littlestone Golding, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

BILL PLANT DRIVING SCHOOL LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
A Pumfrey
Director
16 February 2026
BILL PLANT DRIVING SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BILL PLANT DRIVING SCHOOL LIMITED
- 4 -
Opinion

We have audited the financial statements of Bill Plant Driving School Limited (the 'company') for the year ended 31 May 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

BILL PLANT DRIVING SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BILL PLANT DRIVING SCHOOL LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the director's r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of director's remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined the most significant are those that relate to the reporting framework ((FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice), the Companies Act 2006)) and the relevant tax compliance regulations in which the Company operates.

- We understood how the Company is complying with those frameworks by making enquiries on the management and those responsible for legal and compliance procedures. We corroborated our enquiries through our review of board minutes and any correspondence received from regulatory bodies.

- We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by enquiring with management during the planning, fieldwork and completion phase of our audit. We considered the controls that the Company has established to address risks identified, or that otherwise prevent, deter and detect fraud and how management monitors those controls. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk including revenue recognition. These procedures included testing manual journals and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

- Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved journal entry testing, with a focus on manual journals and journals indicating large or unusual transactions based on our understanding of the business and enquiries of management.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

BILL PLANT DRIVING SCHOOL LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BILL PLANT DRIVING SCHOOL LIMITED (CONTINUED)
- 6 -

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Derek Humphrey BA ACA (Senior Statutory Auditor)
For and on behalf of Littlestone Golding, Statutory Auditor
Chartered Accountants
17 Cavendish Square
London
W1G 0PH
16 February 2026
BILL PLANT DRIVING SCHOOL LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
13,985,847
11,734,631
Cost of sales
(7,686,902)
(6,865,659)
Gross profit
6,298,945
4,868,972
Administrative expenses
(3,798,909)
(3,401,668)
Operating profit
4
2,500,036
1,467,304
Interest receivable and similar income
7
36,348
16,127
Interest payable and similar expenses
8
(327,755)
(165,888)
Profit before taxation
2,208,629
1,317,543
Tax on profit
9
(597,471)
(360,384)
Profit for the financial year
1,611,158
957,159
BILL PLANT DRIVING SCHOOL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
2025
2024
£
£
Profit for the year
1,611,158
957,159
Other comprehensive income
-
-
Total comprehensive income for the year
1,611,158
957,159
BILL PLANT DRIVING SCHOOL LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
213,760
330,606
Other intangible assets
10
127,322
77,755
Total intangible assets
10
341,082
408,361
Tangible assets
11
12,777
23,055
353,859
431,416
Current assets
Debtors - deferred tax
12
26,407
30,281
Debtors - other
12
3,243,406
728,146
Cash at bank and in hand
2,611,740
839,568
5,881,553
1,597,995
Creditors: amounts falling due within one year
13
(2,076,201)
(1,757,032)
Net current assets/(liabilities)
3,805,352
(159,037)
Total assets less current liabilities
4,159,211
272,379
Creditors: amounts falling due after more than one year
14
2,336,842
244,661
Deferred income
17
911,698
728,205
Capital and reserves
Called up share capital
19
100
100
Profit and loss reserves
910,571
(700,587)
Total equity
910,671
(700,487)
4,159,211
272,379
The financial statements were approved by the board of directors and authorised for issue on 16 February 2026 and are signed on its behalf by:
A Pumfrey
Director
Company Registration No. 09134159
BILL PLANT DRIVING SCHOOL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 June 2023
100
(1,657,746)
(1,657,646)
Year ended 31 May 2024:
Profit and total comprehensive income
-
957,159
957,159
Balance at 31 May 2024
100
(700,587)
(700,487)
Year ended 31 May 2025:
Profit and total comprehensive income
-
1,611,158
1,611,158
Balance at 31 May 2025
100
910,571
910,671
BILL PLANT DRIVING SCHOOL LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
1,465,618
1,011,454
Interest paid
(327,755)
(165,888)
Income taxes paid
(159,120)
-
0
Net cash inflow from operating activities
978,743
845,566
Investing activities
Purchase of intangible assets
(83,400)
(83,040)
Loans made to related parties
(1,600,000)
-
0
Repayment of loans
122,195
-
0
Interest received
36,348
16,127
Net cash used in investing activities
(1,524,857)
(66,913)
Financing activities
Proceeds of new bank loans
3,000,000
-
0
Repayment of bank loans
(681,714)
(952,023)
Net cash generated from/(used in) financing activities
2,318,286
(952,023)
Net increase/(decrease) in cash and cash equivalents
1,772,172
(173,370)
Cash and cash equivalents at beginning of year
839,568
1,012,938
Cash and cash equivalents at end of year
2,611,740
839,568
BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 12 -
1
Accounting policies
Company information

Bill Plant Driving School Limited is a private company limited by shares incorporated in England and Wales. The registered office is Canalside House, 7 Charter Road, Ripon, HG4 1AJ.

1.1
Basis of preparation

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

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

1.2
Going concern

The company has performed strongly, and at the time of approving the financial statements the director has reviewed forecast cashflows to May 2027 in considering the going concern position, and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The director therefore continues to adopt the going concern basis of accounting in preparing the financial statements of Bill Plant Driving School Limited.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of a ny discounts, V alue A dded T ax and other sales related taxes.

Revenue from franchise agreements and instructor training is time apportioned over the period to which the income relates. The unrecognised element of income at the reporting date is held as deferred income on the balance sheet and treated as income in the subsequent reporting period. Other revenue is recognised when the services are delivered to customers.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 13 -
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website and information technology
25% per annum straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% per annum straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 14 -
1.8
Cash and cash equivalents

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.

1.9
Financial instruments

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

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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 15 -
Classification of financial liabilities

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

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 paymen ts 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. A m ounts 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

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.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 16 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 17 -
3
Turnover and other revenue

An analysis of the company's turnover, which arises from the rendering of services, is as follows:

2025
2024
£
£
Turnover analysed by class of business
Driving school franchisor activity
13,985,847
11,734,631
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
13,985,847
11,734,631
2025
2024
£
£
Other revenue
Interest income
36,348
16,127
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
9,500
9,000
Depreciation of tangible fixed assets
10,278
10,278
Amortisation of intangible assets
150,679
122,131
Operating lease charges
5,681,445
4,925,816
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Directors
1
2
Staff
60
56
Total
61
58
BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
5
Employees
(Continued)
- 18 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,033,033
1,795,608
Social security costs
222,349
191,430
Pension costs
76,932
49,369
2,332,314
2,036,407
6
Director's remuneration
2025
2024
£
£
Remuneration for qualifying services
158,086
176,175
Company pension contributions to defined contribution schemes
-
206
Compensation for loss of office
30,000
-
0
188,086
176,381

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 0 (2024 - 1).

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
22,814
16,127
Other interest income
13,534
-
0
Total income
36,348
16,127
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
22,814
16,127
BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 19 -
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
336,902
140,968
Interest payable to group undertakings
(9,147)
19,732
327,755
160,700
Other finance costs:
Other interest
-
0
5,188
327,755
165,888
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
496,711
62,234
Group tax relief
96,886
-
0
Total current tax
593,597
62,234
Deferred tax
Origination and reversal of timing differences
3,874
298,150
Total tax charge
597,471
360,384

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
2,208,629
1,317,543
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
552,157
329,386
Tax effect of expenses that are not deductible in determining taxable profit
14,375
59
Depreciation on assets not qualifying for tax allowances
1,727
1,727
Amortisation on assets not qualifying for tax allowances
29,212
29,212
Taxation charge for the year
597,471
360,384
BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 20 -
10
Intangible fixed assets
Goodwill
Website and information technology
Total
£
£
£
Cost
At 1 June 2024
1,168,459
83,040
1,251,499
Additions - internally developed
-
0
83,400
83,400
At 31 May 2025
1,168,459
166,440
1,334,899
Amortisation and impairment
At 1 June 2024
837,853
5,285
843,138
Amortisation charged for the year
116,846
33,833
150,679
At 31 May 2025
954,699
39,118
993,817
Carrying amount
At 31 May 2025
213,760
127,322
341,082
At 31 May 2024
330,606
77,755
408,361
11
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 June 2024 and 31 May 2025
139,202
Depreciation and impairment
At 1 June 2024
116,147
Depreciation charged in the year
10,278
At 31 May 2025
126,425
Carrying amount
At 31 May 2025
12,777
At 31 May 2024
23,055
BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 21 -
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
163,308
93,341
Amounts owed by group undertakings
866,079
147,421
Other debtors
1,604,080
123,195
Prepayments and accrued income
400,586
364,189
3,034,053
728,146
Deferred tax asset
3,089
3,874
3,037,142
732,020
Amounts falling due after more than one year:
Prepayments and accrued income
209,353
-
0
Deferred tax asset
23,318
26,407
232,671
26,407
Total debtors
3,269,813
758,427
13
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
15
442,105
216,000
Trade creditors
303,739
384,015
Corporation tax
496,711
62,234
Other taxation and social security
296,636
258,551
Other creditors
321,294
261,127
Accruals
215,716
575,105
2,076,201
1,757,032
14
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
15
2,336,842
244,661
BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 22 -
15
Loans and overdrafts
2025
2024
£
£
Bank loans
2,778,947
460,661
Payable within one year
442,105
216,000
Payable after one year
2,336,842
244,661

The bank debt is secured by debentures given by the company and its parent company to provide a fixed and floating charge over the assets of the company and its parent company, by guarantee given by the company's parent company, and by security over the shares in the company's parent company. The aggregate amount of debt at the reporting date for which security had been given was £2,778,947 (2024: £460,661).

16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2025
2024
Balances:
£
£
Accelerated capital allowances
26,407
30,281
2025
Movements in the year:
£
Asset at 1 June 2024
(30,281)
Charge to profit or loss
3,874
Asset at 31 May 2025
(26,407)

Of the deferred tax asset set out above, £3,089 is expected to reverse within 12 months of the reporting date and relates to movements in capital allowances and depreciation during the same period.

17
Deferred income
2025
2024
£
£
Other deferred income
911,698
728,205
BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 23 -
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
76,932
49,369

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 10p each
1,000
1,000
100
100
20
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
581,461
1,401,326
Years 2-5
8,606,303
2,076,932
9,187,764
3,478,258
21
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Interest receivable on loans to related parties
2025
2024
£
£
Key management personnel
13,534
-

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
866,079
147,421
Key management personnel
1,613,534
122,195
BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
21
Related party transactions
(Continued)
- 24 -
Other information

The company's bank debt is secured by debentures given by the company and its parent company to provide a fixed and floating charge over the assets of the company and its parent company, by guarantee given by the company's parent company, and by security over the shares in the company's parent company.

The amounts owed by related parties are unsecured.

22
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan - debt owed by director taken over from Bill Plant Limited as part of business acqusition
-
122,195
-
-
(122,195)
-
Loan
1.25
-
800,000
6,767
-
806,767
122,195
800,000
6,767
(122,195)
806,767
23
Ultimate controlling party

The company's immediate and ultimate parent company is Bi ll Plant Holdings Limited, whose registered office is 69 Carter Lane, London, EC4V 5EQ.

The company's ultimate controlling party is Mr s D Tucker, the majority shareholder of Bill Plant Holdings Limited.

BILL PLANT DRIVING SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 25 -
24
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,611,158
957,159
Adjustments for:
Taxation charged
597,471
360,384
Finance costs
327,755
165,888
Investment income
(36,348)
(16,127)
Amortisation and impairment of intangible assets
150,679
122,131
Depreciation and impairment of tangible fixed assets
10,278
10,278
Increase in deferred income
183,493
215,881
Movements in working capital:
Increase in debtors
(1,037,455)
(98,856)
Decrease in creditors
(341,413)
(705,284)
Cash generated from operations
1,465,618
1,011,454
25
Analysis of changes in net funds/(debt)
1 June 2024
Cash flows
31 May 2025
£
£
£
Cash at bank and in hand
839,568
1,772,172
2,611,740
Borrowings excluding overdrafts
(460,661)
(2,318,286)
(2,778,947)
378,907
(546,114)
(167,207)
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