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# NATIONWIDE FLEET LTD

## Company Registration Number:
07463958 (England and Wales)

## Unaudited abridged accounts for the year ended 31 October 2025

## Period of accounts

## Start date: 01 November 2024

## End date: 31 October 2025

# NATIONWIDE FLEET LTD

## Contents of the Financial Statements

for the Period Ended 31 October 2025

Balance sheet |
Notes |

# NATIONWIDE FLEET LTD

## Balance sheet

As at 31 October 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Tangible assets: | 3 | 4,982,525 | 6,848,159
Total fixed assets: |  | 4,982,525 | 6,848,159
Current assets
Stocks: |  | 120,351 | 120,351
Debtors: |  | 3,926,177 | 3,091,494
Cash at bank and in hand: |  | 6,858 | 63,023
Total current assets: |  | 4,053,386 | 3,274,868
Creditors: amounts falling due within one year: | 4 | (2,985,907) | (3,210,775)
Net current assets (liabilities): |  | 1,067,479 | 64,093
Total assets less current liabilities: |  | 6,050,004 | 6,912,252
Creditors: amounts falling due after more than one year: | 5 | (4,198,975) | (4,978,319)
Total net assets (liabilities): |  | 1,851,029 | 1,933,933
Capital and reserves
Called up share capital: |  | 1 | 1
Profit and loss account: |  | 1,851,028 | 1,933,932
Shareholders funds: |  | 1,851,029 | 1,933,933

The notes form part of these financial statements

# NATIONWIDE FLEET LTD

## Balance sheet statements

For the year ending 31 October 2025 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 June 2026
and signed on behalf of the board by:

Name: Glenn Rust
Status: Director

The notes form part of these financial statements

# NATIONWIDE FLEET LTD

## Notes to the Financial Statements

for the Period Ended 31 October 2025

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

# NATIONWIDE FLEET LTD

## Notes to the Financial Statements

for the Period Ended 31 October 2025

## 2. Employees

| 2025 | 2024
--- | --- | ---
Average number of employees during the period | 24 | 14

# NATIONWIDE FLEET LTD

## Notes to the Financial Statements

for the Period Ended 31 October 2025

## 3. Tangible Assets

| Total
--- | ---
Cost | £
At 01 November 2024 | 10,272,725
Additions | 1,365,120
Disposals | (3,766,818)
At 31 October 2025 | 7,871,027
Depreciation |
At 01 November 2024 | 3,424,566
Charge for year | 1,718,504
On disposals | (2,254,568)
At 31 October 2025 | 2,888,502
Net book value |
At 31 October 2025 | 4,982,525
At 31 October 2024 | 6,848,159

# NATIONWIDE FLEET LTD

## Notes to the Financial Statements

for the Period Ended 31 October 2025

## 4. Creditors: amounts falling due within one year note

Loans and overdrafts 774679 Hire purchase obligations current portion 788750 Taxation and social security 157898 Other creditors 1264580

# NATIONWIDE FLEET LTD

## Notes to the Financial Statements

for the Period Ended 31 October 2025

## 5. Creditors: amounts falling due after more than one year note

Other creditors 4198975

# NATIONWIDE FLEET LTD

## Notes to the Financial Statements

for the Period Ended 31 October 2025

## 6. Changes in presentation and prior period adjustments

As part of the continued fleet renewal strategy, it has been recognised that the resale market for vehicles purchased during and immediately following the COVID-19 period has softened significantly. These vehicles were acquired at premium prices due to supply chain disruption and constrained vehicle availability, resulting in acquisition costs that were materially higher than historic fleet replacement costs. In 2024, a review of fleet asset values identified that current market conditions and declining residual values had reduced the recoverable value of certain vehicles. Consequently, an additional impairment charge was recognised against vehicle assets to align their carrying values with prevailing market valuations. The continued saturation of the second-hand vehicle market has also contributed to reduced disposal profits on vehicle sales. Notwithstanding these market conditions and the impairment recognised , the transition from owned vehicles to leased vehicles continues to represent a sound financial and operational approach. This strategy reduces exposure to escalating maintenance and support costs associated with an ageing fleet, improves budget certainty through fixed asset lease arrangements and mitigates future residual value risks while ensuring access to a modern and reliable vehicle fleet,