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REGISTERED NUMBER: 02118577 (England and Wales)

Financial Statements For The Year Ended 31 May 2025

for

Western Truck Rental Limited

| Western Truck Rental Limited (Registered number: 02118577) |

Contents of the Financial Statements

For The Year Ended 31 May 2025

Page |

| Company information | 1 |

| Balance sheet | 2 |

| Notes to the financial statements | 3 |

| Western Truck Rental Limited |

Company Information

For The Year Ended 31 May 2025

| Directors: | M H James

| A W Laraman

| N L Taylor

| Secretary: | N L Taylor

| Registered office: | Avnet House

| Rutherford Close

| Stevenage

| Hertfordshire

| SG1 2EF

| Registered number: | 02118577 (England and Wales)

| Auditors: | MRT Accountants Limited

| Statutory Auditor

| Chartered Accountants

| Market House

| 10 Market Walk

| Saffron Walden

| Essex

| CB10 1JZ

| Western Truck Rental Limited (Registered number: 02118577) |

Balance Sheet

31 May 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Tangible assets | 4 | 327,476 |  | 1,337,458 |  |

Current assets

Stocks | 208,134 |  | 359,055 |  |

Debtors | 5 | 250,238 |  | 280,830 |  |

Cash at bank | 45,174 |  | 26,446 |  |

503,546 |  | 666,331 |  |

Creditors

Amounts falling due within one year | 6 | 787,616 |  | 1,337,273 |  |

Net current liabilities | (284,070 | ) | (670,942 | ) |

Total assets less current liabilities | 43,406 |  | 666,516 |  |

Creditors

Amounts falling due after more than one year | 7 | 112,431 |  | 357,761 |  |

Net (liabilities)/assets | (69,025 | ) | 308,755 |  |

Capital and reserves

Called up share capital | 55,002 |  | 55,002 |  |

Share premium | 79,308 |  | 79,308 |  |

Revaluation reserve | - |  | 559,480 |  |

Retained earnings | (203,335 | ) | (385,035 | ) |

Shareholders' funds | (69,025 | ) | 308,755 |  |

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 16 March 2026 and were signed on its behalf by:

M H James - Director

| Western Truck Rental Limited (Registered number: 02118577) |

Notes to the Financial Statements

For The Year Ended 31 May 2025

1. | Statutory information

| Western Truck Rental Limited 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 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 as modified by the revaluation of freehold property. The principal accounting policies adopted are set out below.

| The financial statements of the company are consolidated in the financial statements of The VMS Automotive Group Limited. These consolidated financial statements are available from its registered office Avnet House, Rutherford Close, Stevenage, Hertfordshire, SG1 2EF.

| Going concern

| Given the level of cash reserves and facilities available within the wider group the directors have concluded that the company is well placed to manage its business risks successfully. Should there be a requirement for additional working capital within the company the directors have obtained a letter of support from its fellow subsidiary, VMS (Fleet Management) Limited, confirming its intention to make available any amount required for a period of 12 months following the date of approval of the 2025 financial statements. The directors have evaluated the ability of VMS (Fleet Management) Limited to provide such support and have not identified any material uncertainties in this regard thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover relates to the sales within the UK market. The policies adopted for the recognition of turnover are as follows:

| Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliable, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliable. This is usually on dispatch of the goods.

| When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the service is performed.

| Turnover from the hire of vehicles is recognised in the period in which the services are provided when the amount of turnover can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company.

| Tangible fixed assets

| Tangible fixed assets, with the exception of freehold property, are measured using the cost model. These assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Freehold land and buildings are measured using the revaluation model.

| Depreciation is provided at the following annual rates in order to write off each asset over it estimated useful life.

| Freehold property |  | - 2% on valuation and land not depreciated |  |

| Leasehold property |  | - 25% on cost |  |

| Plant and machinery |  | - 10% on reducing balance |  |

| Fixtures and fittings |  | - 25% on reducing balance |  |

| Motor vehicles |  | - 10% on reducing balance |  |

| 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.

| Western Truck Rental Limited (Registered number: 02118577) |

Notes to the Financial Statements - continued

For The Year Ended 31 May 2025

2. | Accounting policies - continued

| Stocks

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

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| 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 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 trade and other 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

| 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 trade and other 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.

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

| Equity instruments

| Equity instruments issued by the company are recorded at the fair value of 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.

| Taxation

| The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

| Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

| Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

| Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

| Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

| Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

| Western Truck Rental Limited (Registered number: 02118577) |

Notes to the Financial Statements - continued

For The Year Ended 31 May 2025

2. | Accounting policies - continued

| Foreign currencies

| Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

| Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

| All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

| Leases

| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

| Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

| Payments under operating leases are charged to the profit and loss account on a straight line basis over the term of the relevant lease.

| Rental income from assets leased under operating leases is recognised on a straight line basis over the term of the relevant lease.

| Pension costs and other post-retirement benefits

| For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

| 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.

3. | Employees and directors

| The average number of employees during the year was 14 (2024 - 18 ) .

| Western Truck Rental Limited (Registered number: 02118577) |

Notes to the Financial Statements - continued

For The Year Ended 31 May 2025

4. | Tangible fixed assets

| Freehold |  | Plant and

| property |  | Leasehold |  | machinery

£ | £ | £ |

| Cost or valuation

| At 1 June 2024 | 915,000 |  | 21,229 |  | 185,652 |  |

| Additions | - |  | - |  | - |  |

| Disposals | (915,000 | ) | - |  | - |  |

| At 31 May 2025 | - |  | 21,229 |  | 185,652 |  |

| Depreciation

| At 1 June 2024 | - |  | 21,229 |  | 103,653 |  |

| Charge for year | - |  | - |  | 8,250 |  |

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

| At 31 May 2025 | - |  | 21,229 |  | 111,903 |  |

| Net book value

| At 31 May 2025 | - |  | - |  | 73,749 |  |

| At 31 May 2024 | 915,000 |  | - |  | 81,999 |  |

| Fixtures |

| and |  | Motor |

| fittings |  | vehicles |  | Totals

£ | £ | £ |

| Cost or valuation

| At 1 June 2024 | 263,136 |  | 270,484 |  | 1,655,501 |  |

| Additions | 1,435 |  | - |  | 1,435 |  |

| Disposals | - |  | (37,911 | ) | (952,911 | ) |

| At 31 May 2025 | 264,571 |  | 232,573 |  | 704,025 |  |

| Depreciation

| At 1 June 2024 | 171,420 |  | 21,741 |  | 318,043 |  |

| Charge for year | 30,304 |  | 26,902 |  | 65,456 |  |

| Eliminated on disposal | - |  | (6,950 | ) | (6,950 | ) |

| At 31 May 2025 | 201,724 |  | 41,693 |  | 376,549 |  |

| Net book value

| At 31 May 2025 | 62,847 |  | 190,880 |  | 327,476 |  |

| At 31 May 2024 | 91,716 |  | 248,743 |  | 1,337,458 |  |

| Land and buildings with a carrying amount of £915,000 were revalued at 23 May 2024 to £915,000 by JD Commercial, independent valuers not connected with the company on the basis of market value. The valuation was based on recent market transactions on an arm's length bases for similar properties.

| If revalued assets were stated on an historical basis rather than a fair value basis, the total amounts included would have been as follows

|  | 2025 |  |  | 2024 |  |

| £ |  |  | £ |  |

| Cost |  | - |  |  | 525,277 |  |

| Accumulated depreciation |  | - |  |  | (200,481 | ) |

|  | - |  |  | 324,796 |  |

| The freehold property was disposed of on 11th April 2025.

| Western Truck Rental Limited (Registered number: 02118577) |

Notes to the Financial Statements - continued

For The Year Ended 31 May 2025

5. | Debtors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Trade debtors | 218,783 |  | 217,773 |  |

| Other debtors | 31,455 |  | 63,057 |  |

250,238 |  | 280,830 |  |

6. | Creditors: amounts falling due within one year |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | - |  | 20,400 |  |

| Finance leases (see note 8) | 53,044 |  | 60,625 |  |

| Trade creditors | 561,681 |  | 293,048 |  |

| Amounts owed to group undertakings | 114,826 |  | 952,315 |  |

| Taxation and social security | 21,837 |  | 5,415 |  |

| Other creditors | 36,228 |  | 5,470 |  |

787,616 |  | 1,337,273 |  |

| Included within the above are bank loans secured by way of fixed or floating charges. Finance lease obligations are secured by fixed charges on the assets concerned.

7. | Creditors: amounts falling due after more than one year |

2025 | 2024 |

£ | £ |

| Bank loans | - |  | 168,276 |  |

| Finance leases (see note 8) | 112,431 |  | 189,485 |  |

112,431 |  | 357,761 |  |

| Included within the above are bank loans secured by way of fixed or floating charges. Finance lease obligations are secured by fixed charges on the assets concerned.

8. | Leasing agreements

| Minimum lease payments fall due as follows:

| Finance leases |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 53,044 |  | 60,625 |  |

| Between one and five years | 112,431 |  | 189,485 |  |

165,475 |  | 250,110 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 310,335 |  | 387,411 |  |

| Between one and five years | 489,061 |  | 794,504 |  |

799,396 |  | 1,181,915 |  |

| Western Truck Rental Limited (Registered number: 02118577) |

Notes to the Financial Statements - continued

For The Year Ended 31 May 2025

8. | Leasing agreements - continued

| Lessor

| At the reporting end date the company had contracted with customers for the following minimum lease payments:

|  | 2025 |  |  | 2024 |  |

|  | £ |  |  | £ |  |

| Within one year |  | 528,932 |  |  | 567,884 |  |

| Between one and five years |  | 755,337 |  |  | 1,284,269 |  |

|  | 1,284,269 |  |  | 1,852,153 |  |

9. | Disclosure under Section 444(5B) of the Companies Act 2006

| The Report of the auditors was unqualified.

| James Robert Marchant FCCA (Senior Statutory Auditor)

| for and on behalf of MRT Accountants Limited

10. | Ultimate controlling party

| The directors consider the ultimate parent undertaking, which draws up consolidated accounts, to be The VMS Automotive Group Limited, a company incorporated in the United Kingdom. The parents registered office is Avnet House, Rutherford Close, Stevenage, Hertfordshire, SG1 2EF.

| The ultimate controlling party is considered to be M James by virtue of his shareholding in The VMS Automotive Group Limited.