Company Information                
                
    Moove UK Carco 2 Limited (the “Company”) is a private company limited by shares, incorporated and domiciled in England and Wales under company number 14007220.            
                
    The registered office and principal place of business is:            
                
    1 Bow Churchyard, London, United Kingdom, EC4M 9DQ.            
                
    The Company's principal activity is the renting and leasing of cars and light motor vehicles, primarily to drivers operating on mobility and ride-hailing platforms.            
                
    The Company is a wholly owned subsidiary of Moove UK Holdings Limited., a company incorporated in the United Kingdom. The Company's ultimate parent and controlling party is Moove Africa B.V.            
                
                
2.                  Basis of Preparation          

 

     
    "Statement of Compliance
The financial statements of the company have been prepared in accordance with UK-adopted Financial Reporting Standards and with the requirements  of the Companies  Act 2006 as applicable to companies reporting under those standards."            
               
                
    Basis of Measurement            
    The financial statements have been prepared in accordance with Financial Reporting Standards (FRS 102). They have been prepared on a going concern basis using the accrual method of accounting and are presented in GBP.      
                
                
    The financial statements  have been prepared  on a historical cost basis, except for items measured  at fair value or amortized cost as described in the accounting policies.            
                
    Lease Receivable and the related Impairement loss allowance are measured in accordance with Section 20 and Section 11, respectively. The detailed accounting policies and measurement bases for these items are explained  in their respective notes to the financial statements.            
                
    The accounting policies applied are consistent with those of the previous reporting period            
              
                
                
3    Accounting policies            
                
                  
    3.1      Cash and Cash Equivalents            
                
    Cash and cash equivalents  comprise cash on hand, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.            
                
                
    3.2      Borrowings            
                
    All borrowings are initially recorded at fair value less transaction costs. Borrowings are subsequently carried at amortized cost, with the difference  between  the proceeds,  net  of transaction costs, and the amount  due on redemption  being recognized  as  a  charge  to  the  income  statement  over  the  period  of  the  relevant  borrowing.  Interest  expense  is recognized on the basis of the effective interest method and is included in Finance cost. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date.            
               
                
                
    3.3      Trade Payables            
                
    Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. This classification and measurement of trade payables are in line with the requirements of Section 11 Financial Instruments.            
                

                
    3.4      Share Capital            
                
    Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.            
                
    
                
    3.5      Taxation            
                
    The tax expense for the period comprises current and deferred tax. Tax is recognized in profit or loss, except that a change attributable  to  an  item  of  income  or  expense  recognized  as  other  comprehensive  income  which  is  shown  in  the Statement of Changes in Equity.            
                
                
    Deferred income tax is recognized on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively  enacted by the reporting date.            
               
                
    The carrying amount  of deferred tax assets are reviewed at each reporting date and a valuation  allowance  is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.            
                
                
    3.6   Foreign Currency Transactions and Balances            
                
    Transactions in foreign currencies are recorded in the functional currency of the Company GBP at the exchange rates prevailing  on  the  dates  of  the  transactions.  Monetary  assets  and  liabilities  denominated  in  foreign  currencies  are retranslated at the exchange rates prevailing at the reporting date.            
                
                
                
    Non-monetary items measured at historical cost in a foreign currency are translated using the exchange rate at the date of the transaction, while non-monetary items measured at fair value are translated using the exchange rates at the date when the fair value was determined. Exchange differences arising on settlement or translation of monetary items are recognized in the statement of profit or loss.            
                
                
                
    3.7    Offsetting            
                
    Financial  assets  and  financial  liabilities  are  off-set  and  the  net  amount  is  reported  in  the  statement  of financial  position  if the Company  has  a  legally  enforceable  right  to  set-off  the  recognized  amounts  and intends either to settle on a net basis or to realize the assets and settle the liabilities simultaneously.            
    
                
    3.8   Events after the reporting date            
    The Company financial statements are adjusted to reflect events that occurred between the reporting date and the date when the financial statements  are authorized for issue, provided they give evidence  of conditions that existed at the reporting date. Any post year-end events that are non-adjusting are disclosed in the financial statements when material.            
                
                
                
4.                  Accounting estimates and judgments              

 

 

 
    4.1    Use of Judgements and Estimates            

    "The preparation  of these financial statements  in accordance  with UK-adopted  Financial Reporting Standards  and requirements  of  the  Companies  Act  2006  requires  management  to  exercise  judgement  and  make  estimates  and assumptions.  These judgements,  estimates,  and assumptions  have a direct impact on the reported amounts of assets, liabilities, income, and expenses presented in the financial statements.
The estimates and underlying assumptions are based on historical experience and other factors considered reasonable under the circumstances. They form the basis for judgements regarding the carrying values of assets and liabilities that are not readily determinable  from other sources. The actual results are not expected to differ materially  from these estimates and assumptions."            
          
                
    Estimates  and  underlying  assumptions  are  reviewed  on  an  ongoing  basis.  Revisions  to  accounting  estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in both the current and future  periods  if the revision affects both. Judgements  made  by management  in applying  UK-adopted  Financial Reporting Standards that have a significant effect on the financial statements,  together with estimates that carry a significant risk of material adjustment within the next financial year.            

4    Accounting estimates and judgments (Continued)         

 

   
4.2    Events after the reporting date (Continued)            
    quantitative and qualitative factors, informed by the Company's historical experience, forward-looking information, and credit assessments.            
                
5    Restatement of Prior Period Information            
                
    The Company previously issued preliminary financial statements for the year ended 31 December 2022 which contained only limited balance sheet information prepared under a simplified small-company format.            

    "As part of the transition to full UK-adopted (FRS 102) and the preparation of statutory financial statements for 2023,  management identified that the preliminary 2022 figures:"            

    Accordingly, the 2022 comparative information has been restated in full in accordance with Section 10 Accounting Policies, Estimates & Errors.            
                
               
6    Functional and presentation currency            
                
    These financial statements are presented in pound sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated            
                

 

"The Company is subject to an intercompany interest charge from its parent entity, Moove UK Holding Limited. Moove UK Holding Limited obtained financing from EMSO to fund the acquisition of vehicles that were subsequently transferred to the Company. The EMSO loan carries an interest rate of 8% per annum. In line with the underlying financing arrangement, Moove UK Holding Limited levies an equivalent 8% interest charge to the Company to reflect the cost of capital associated with these assets. This charge has been recognised as an interest expense within these
financial statements."                    
 

 

Trade And Other Receivables
Value added tax                                                      Receivable from related parties	199   32,068,686	-     100

 

The VAT Receivable from customers represents the amount paid by the Company at the commencement  of the lease term. The Company is required to pay VAT at a rate of 20% on the total lease amount at the inception of the lease. This VAT is subsequently recovered from customers over the lease period through the lease payments.

 

Receivable from Related Parties
Moove Africa B.V Moove UK Opco Limited Moove Colombia SAS Moove Mexico Moove UK Carco 2 Ltd Moove UK Holdings Limited	11,599,941   (1,207)  5,447,558   15,022,394   1    -	-     -     -     -     -     100
Cash and Bank Balance
Current account Cast at bank - GBP  Cast at bank - USD	(19)  1,519	261   224
Share Capital
Issue & Fully paid up
Ordinary shares of 1£ each	100	100
Payable: amounts falling due after more than one year
Payable to Group Related Parties
Moove UK Opco Limited	2,132	1,381
Moove UK Holding 2 LTD Moove Colombia SAS Moove Mexico Moove UK Carco 1 Limited Moove Africa B.V	(100)  (1,925,896)  (551,108)  580,909   2,714	-     -     -     -     2,714
Long Term Loan	34,567,895	-

Subsidiary  Name	Year of Investment	Registered Office	Proportion held
Carco 1	2022	1 Bow Churchyard, London, UK,             EC4M 9DQ	100%
Carco 2	2022	1 Bow Churchyard, London, UK,       EC4M 9DQ	100%
Carco 3	2023	1 Bow Churchyard, London, UK,       EC4M 9DQ	100%
OPCO	2022	1 Bow Churchyard, London, UK, EC4M 9DQ	100%