Company registration number 14757618 (England and Wales)
BIG VAN WORLD HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
BIG VAN WORLD HOLDINGS LIMITED
COMPANY INFORMATION
Director
Mr M Austen
Company number
14757618
Registered office
First Floor
1 Des Roches Square
Witan Way
Witney
Oxfordshire
OX28 4BE
Auditor
DSA Prospect Audit Limited
First Floor
1 Des Roches Square
Witan Way
Witney
OX28 4BE
BIG VAN WORLD HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3
Director's responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Company statement of cash flows
15
Notes to the financial statements
16 - 35
BIG VAN WORLD HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

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

Review of the business

The results for the year and financial position of the company are as shown in the annexed accounts. The key financial highlights are as follows:

2025
2024
£'000
£'000
Turnover
20,281
29,986
Operating profit
(104)
283
Profit for the financial year
(535)
(205)
Total equity
6,505
7,076
Profit after tax as a % of turnover
3%
1%
Current assets as % of current liabilities
140%
142%
Return on assets %
3%
1%
Average number of employees during the year
22
23
Principal Risks and Uncertainties

There are a number of potential risks and uncertainties which could have a material impact on the Group's long-term performance. These risks and uncertainties are monitored regularly by the director.

The director considers the implications of risk when making significant business decisions and regularly reassesses existing risks to ensure that changes in the Group's operations or the external environment are identified and appropriately managed. The principal risks affecting the Group are as follows:

Operational Risk

The Group's reputation and continued success depend upon its ability to source, prepare and supply vehicles to customers safely, efficiently and cost-effectively through its principal trading subsidiary, Big Van World Limited. The Group actively seeks to acquire vehicle stock that meets customer demand and maintains procedures and controls to support operational efficiency and customer satisfaction.

Market Risk

The Group operates in a highly competitive marketplace. To maintain its competitive position, the Group focuses on offering a broad range of suitable vehicles, delivering high levels of customer service and aftercare, and employing experienced and dedicated staff. Effective stock management and careful monitoring of market trends are essential to maintaining profitability and competitiveness.

People Risk

The Group's continued success depends upon its ability to attract, retain and develop skilled employees. Significant emphasis is placed on recruitment, training and professional development. Succession planning and the continued development of the management structure remain important considerations in supporting the Group's future growth and stability.

BIG VAN WORLD HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

Financial Risk

The Group's trading operations require access to vehicle stocking and other funding facilities. Subsequent to the year end, certain funding arrangements of Big Van World Limited became subject to withdrawal and replacement, and the Group is currently seeking alternative facilities. The director continues to monitor the Group's liquidity position closely and prepares regular cash flow forecasts to assess funding requirements.

The Group's ability to generate profits and convert those profits into cash remains important to its financial performance. Changes in market conditions, customer demand, vehicle availability, interest rates and wider economic factors may adversely affect profitability and cash flows. These risks are managed through prudent financial management, regular forecasting, careful stock control and ongoing engagement with funding providers.

Going Concern

The director has considered the company's ability to continue trading for a period extending to at least twelve months from the date of approval of these financial statements. The director is satisfied taking into account, trading performance, gross profitability and market conditions that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the company continues to adopt the going concern basis.

On behalf of the board

Mr M Austen
Director
31 July 2026
BIG VAN WORLD HOLDINGS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

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

Principal activities

The principal activity of the group continued to be that of the sale of used cars and light motor vehicles.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £36,000. The director does not recommend payment of a further dividend.

Director

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

Mr M Austen
Auditor

The auditor, DSA Prospect Audit Limited, is deemed to be appointed under section 487(2) of the Companies Act 2006.

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 auditor of the company 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 auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to groups and companies entitled to the exemptions of the small companies regime.

On behalf of the board
Mr M Austen
Director
31 July 2026
BIG VAN WORLD HOLDINGS LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -

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

United Kingdom company law requires the director to prepare financial statements for each financial year. Under that law, the director has elected to prepare the group and parent company 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 group and parent company, and of the profit or loss of the group 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;

- state whether applicable U nited K ingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BIG VAN WORLD HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BIG VAN WORLD HOLDINGS LIMITED
- 5 -
Opinion

We have audited the financial statements of Big Van World Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company 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 group's and the parent company's affairs as at 31 March 2025 and of the group's loss 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 group and parent 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Material Uncertainty Related to Going Concern

We draw attention to Note 1.4 in the financial statements which explains that certain funding arrangements of the Group's principal trading subsidiary, Big Van World Limited, became subject to withdrawal and replacement following the year end. As stated in Note 1.4, the Group's forecasts assume the successful completion of replacement funding facilities which had not been formally approved or completed at the date of approval of the financial statements. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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:

- T he 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.

BIG VAN WORLD HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BIG VAN WORLD HOLDINGS LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

- certain disclosures of directors' 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 group's and parent 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 group or parent 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlines above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud, are detailed below.

- Enquiry of management and those charge with governance around actual and potential litigation and claims;

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;

- Reviewing minutes of meetings of those charged with governance;

- Reviewing financial statement disclosures and testing to support documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transitions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance, The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusions, omission or misrepresentation.

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.

BIG VAN WORLD HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BIG VAN WORLD HOLDINGS LIMITED
- 7 -
Mr Gary John McHale FCCA (Senior Statutory Auditor)
For and on behalf of DSA Prospect Audit Limited, Statutory Auditor
Chartered Certified Accountants
First Floor
1 Des Roches Square
Witan Way
Witney
OX28 4BE
31 July 2026
BIG VAN WORLD HOLDINGS LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
Year
Period
ended
ended
31 March
31 March
2025
2024
Notes
£
£
Turnover
3
20,280,916
29,986,288
Cost of sales
(20,093,420)
(29,339,336)
Gross profit
187,496
646,952
Administrative expenses
(941,968)
(958,758)
Other operating income
650,636
594,306
Operating (loss)/profit
4
(103,836)
282,500
Interest receivable and similar income
8
35,182
28,436
Interest payable and similar expenses
9
(568,377)
(515,657)
Loss before taxation
(637,031)
(204,721)
Tax on loss
10
101,974
(100)
Loss for the financial year
25
(535,057)
(204,821)
Loss for the financial year is all attributable to the owners of the parent company.
BIG VAN WORLD HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
Year
Period
ended
ended
31 March
31 March
2025
2024
£
£
Loss for the year
(535,057)
(204,821)
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
(535,057)
(204,821)
Total comprehensive income for the year is all attributable to the owners of the parent company.
BIG VAN WORLD HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
6,357,225
6,268,254
6,357,225
6,268,254
Current assets
Stocks
15
5,567,375
6,231,591
Debtors
16
5,866,387
5,698,717
Cash at bank and in hand
61,556
87,229
11,495,318
12,017,537
Creditors: amounts falling due within one year
17
(8,188,082)
(8,488,530)
Net current assets
3,307,236
3,529,007
Total assets less current liabilities
9,664,461
9,797,261
Creditors: amounts falling due after more than one year
18
(2,926,872)
(2,508,173)
Provisions for liabilities
Deferred tax liability
21
232,867
213,309
(232,867)
(213,309)
Net assets
6,504,722
7,075,779
Capital and reserves
Called up share capital
22
1
1
Revaluation reserve
23
362,984
362,984
Other reserves
6,917,615
6,917,615
Profit and loss reserves
25
(775,878)
(204,821)
Total equity
6,504,722
7,075,779

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved and signed by the director and authorised for issue on 31 July 2026
31 July 2026
Mr M Austen
Director
Company registration number 14757618 (England and Wales)
BIG VAN WORLD HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
13
1
1
Capital and reserves
Called up share capital
22
1
1

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £36,000 (2024 - £0 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 31 July 2026
31 July 2026
Mr M Austen
Director
Company registration number 14757618 (England and Wales)
BIG VAN WORLD HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
Share capital
Revaluation reserve
Merger reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 25 March 2023
-
0
-
0
-
-
0
-
Period ended 31 March 2024:
Loss and total comprehensive income
-
-
-
(204,821)
(204,821)
Issue of share capital
22
1
-
-
-
1
Transfers
-
-
6,917,615
-
6,917,615
Other movements
-
362,984
-
-
362,984
Balance at 31 March 2024
1
362,984
6,917,615
(204,821)
7,075,779
Year ended 31 March 2025:
Loss and total comprehensive income
-
-
-
(535,057)
(535,057)
Dividends
11
-
-
-
(36,000)
(36,000)
Balance at 31 March 2025
1
362,984
6,917,615
(775,878)
6,504,722
BIG VAN WORLD HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 25 March 2023
-
0
-
0
-
Period ended 31 March 2024:
Profit and total comprehensive income for the period
-
-
-
0
Issue of share capital
22
1
-
1
Balance at 31 March 2024
1
-
0
1
Year ended 31 March 2025:
Profit and total comprehensive income
-
36,000
36,000
Dividends
11
-
(36,000)
(36,000)
Balance at 31 March 2025
1
-
0
1
BIG VAN WORLD HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
31
63,645
(4,619,647)
Interest paid
(568,377)
(515,657)
Income taxes (paid)/refunded
(77,740)
574,917
Net cash outflow from operating activities
(582,472)
(4,560,387)
Investing activities
Purchase of tangible fixed assets
(257,495)
830,709
Repayment of loans
(39,149)
(1,499,480)
Interest received
35,182
28,436
Net cash used in investing activities
(261,462)
(640,335)
Financing activities
Proceeds from issue of shares
-
1
Repayment of borrowings
1,216,144
1,027,375
Repayment of bank loans
793,402
1,994,197
Payment of finance leases obligations
(214,953)
1,326,046
Dividends paid to equity shareholders
(36,000)
-
0
Net cash generated from financing activities
1,758,593
4,347,619
Net increase/(decrease) in cash and cash equivalents
914,659
(853,103)
Cash and cash equivalents at beginning of year
(853,103)
-
0
Cash and cash equivalents at end of year
61,556
(853,103)
Relating to:
Cash at bank and in hand
61,556
87,229
Bank overdrafts included in creditors payable within one year
-
(940,332)
BIG VAN WORLD HOLDINGS LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Investing activities
Purchase of subsidiaries
-
0
(1)
Dividends received
36,000
-
0
Net cash generated from/(used in) investing activities
36,000
(1)
Financing activities
Proceeds from issue of shares
-
1
Dividends paid to equity shareholders
(36,000)
-
Net cash (used in)/generated from financing activities
(36,000)
1
Net increase in cash and cash equivalents
-
-
Cash and cash equivalents at beginning of year
-
0
-
0
Cash and cash equivalents at end of year
-
0
-
0
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 16 -
1
Accounting policies
Company information

Big Van World Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .

The group consists of Big Van World Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

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 £.

The financial statements have been prepared under the historical cost convention, except where the measurement bases have been modified to reflect the revaluation of investment properties. Investment properties and certain financial instruments are carried at fair value in accordance with FRS 102. The principal accounting policies applied in the preparation of these financial statements are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements comprise the financial statements of the parent company Big Van World Holdings Limited together with all entities controlled by the parent company (its subsidiaries), and the group’s share of its interests in joint ventures and associates.

All financial statements of subsidiaries are prepared to the same reporting date as the parent (31 March 2025). Where necessary, adjustments are made to the financial statements of subsidiaries to align their accounting policies with those adopted by other members of the group.

All intra-group transactions, balances, and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated, unless the transaction provides evidence of impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 17 -

Entities in which the group holds an interest and which are jointly controlled with one or more other parties under a contractual arrangement are treated as joint ventures. Entities other than subsidiaries or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group has significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group statement of financial position at cost, adjusted for post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values include any acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in that entity, the group does not recognise further losses unless it has obligations to fund the entity or has made payments on its behalf.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

Merger r eserve

The merger reserve represents the difference between the consideration paid and the nominal value of the shares issued (or net assets acquired) arising on group reconstructions accounted for under the principles of merger accounting. It is not distributable.

1.4
Going concern

The financial statements have been prepared on a going concern basis.

Subsequent to the year end, certain funding arrangements of the Group's principal trading subsidiary, Big Van World Limited, with HSBC Bank plc and Lombard North Central plc became subject to withdrawal and replacement. The directors have reviewed the Group's current and forecast liquidity position and have prepared cash flow forecasts covering a period of at least twelve months from the date of approval of these financial statements.

The forecasts assume the successful completion of replacement funding facilities currently being negotiated with Handelsbanken. At the date of approval of these financial statements, those facilities had not been formally approved or completed.

Based on discussions held to date, the ongoing support received from existing funding providers and the progress made in the refinancing process, the directors believe that replacement funding will be secured and that the Group will continue to meet its obligations as they fall due. However, the outcome of the refinancing process cannot be regarded as certain at the date of approval of these financial statements.

Accordingly, these events and conditions indicate the existence of a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern. Nevertheless, the directors consider it appropriate to prepare the financial statements on the going concern basis, as they have a reasonable expectation that adequate funding will be available to enable the Group to continue in operational existence for the foreseeable future.

The financial statements do not include any adjustments that would result if the Group were unable to continue as a going concern.

1.5
Turnover

Revenue represents the amounts receivable from the sale of vehicles and rental income, net of value added tax, trade discounts, and rebates.

Vehicle Sales

Revenue from the sale of cars, bikes, and vans is recognised when the significant risks and rewards of ownership have transferred to the buyer, which is usually on delivery of the vehicle, and the amount of revenue can be measured reliably.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 18 -

Rental Income

Rental income is recognised on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income.

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:

Freehold land and buildings
0% straight line
Leasehold improvements
20% straight line
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
20% straight line
Motor vehicles
20% 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 recognised in the profit and loss account.

1.7
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

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

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 19 -
1.8
Impairment of fixed assets

At each reporting period end date, the group 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.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

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.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
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.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 20 -
1.11
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 m ethod 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 group 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.

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 group after deducting all of its liabilities.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 21 -
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. 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group 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 group.

1.13
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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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.

1.14
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.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 22 -
1.15
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 balance sheet 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.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In preparing these financial statements, management has made certain judgements and estimates that affect the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Going concern

The directors have exercised judgement in assessing the group's ability to continue as a going concern. In making this assessment, they have considered cash flow forecasts, future trading performance, available financing facilities and ongoing discussions regarding replacement funding arrangements.

Revenue recognition

Judgement is applied in determining when control of a vehicle passes to the customer, which is generally upon delivery or collection of the vehicle.

Principle vs agent

Judgement is applied in assessing whether the group acts as principal or agent in respect of vehicle-related services, including warranties, finance commissions and other ancillary services, which determines whether revenue is recognised on a gross or net basis.

Recoverability of related party balances

Judgement is exercised in assessing the recoverability of amounts due from related parties. This assessment considers the financial position of the related parties, expected future cash flows, repayment history and any supporting arrangements in place.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 23 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Recoverability of related party balances

The group has significant balances due from related parties at the balance sheet date. Management has assessed the recoverability of these balances based on the financial position of the counterparties, projected cash flows and anticipated repayment arrangements. Due to the size of these balances, a change in the assumptions used could result in a material adjustment to their carrying value within the next financial year.

Inventory valuation

Used vans, motorcycles and other vehicles held for resale are measured at the lower of cost and estimated selling price less costs to complete and sell. Estimation is required in determining:

- expected selling prices based on current market conditions;

- the condition, mileage, age and desirability of individual vehicles;

- the impact of changing consumer demand and market trends;

- the extent of any discounts required to achieve a sale.

Provision for slow moving stock

Management reviews the age profile and turnover of vehicle stock to identify vehicles that may require impairment or discounting. The provision reflects estimates of future selling prices and the time required to realise the stock.

Warranty provisions

Where warranties are provided on vehicles sold, provisions are recognised based on management's estimate of future claims. The estimate takes account of historical claims experience, the nature of warranties provided and anticipated repair costs.

Impairment of tangible fixed assets

Where indicators of impairment exist, management estimates the recoverable amount of tangible fixed assets, including rental vehicles, freehold property and equipment. This requires estimates of future cash flows, residual values and market conditions.

3
Turnover and other revenue
2025
2024
£
£
Other revenue
Interest income
35,182
28,436

The directors consider that a geographical analysis of turnover would be seriously prejudicial to the company's interest in terms of commercial sensitivity, and as such have not included a split of geographical turnover.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 24 -
4
Operating (loss)/profit
2025
2024
£
£
Operating (loss)/profit for the year is stated after charging:
Depreciation of tangible fixed assets
168,524
181,636
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
6,750
6,000
Audit of the financial statements of the company's subsidiaries
18,900
18,000
25,650
24,000
6
Employees

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

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Management
3
2
1
1
Admin staff
3
3
-
-
Cost of sales
16
18
-
-
Total
22
23
1
1

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
802,018
854,810
-
0
-
0
Social security costs
76,567
82,374
-
-
878,585
937,184
-
0
-
0
7
Director's remuneration
2025
2024
£
£
Remuneration for qualifying services
9,096
9,096
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 25 -
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
35,182
28,436
9
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
133,378
229,211
Other interest on financial liabilities
185,350
173,160
318,728
402,371
Other finance costs:
Interest on finance leases and hire purchase contracts
119,166
61,608
Other interest
130,483
51,678
Total finance costs
568,377
515,657
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
100
Deferred tax
Origination and reversal of timing differences
(101,974)
-
0
Total tax (credit)/charge
(101,974)
100
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10
Taxation
(Continued)
- 26 -

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

2025
2024
£
£
Loss before taxation
(637,031)
(204,721)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(159,258)
(51,180)
Tax effect of expenses that are not deductible in determining taxable profit
334
14,284
Unutilised tax losses carried forward
121,531
-
0
Permanent capital allowances in excess of depreciation
(4,739)
(8,413)
Depreciation on assets not qualifying for tax allowances
42,131
45,409
Other non-reversing timing differences
(101,973)
-
0
Taxation (credit)/charge
(101,974)
100
11
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Final paid
36,000
-
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 27 -
12
Tangible fixed assets
Group
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost or valuation
At 1 April 2024
5,773,172
505,753
88,815
32,634
6,432
43,084
6,449,890
Additions
-
0
214,948
9,060
-
0
1,987
31,500
257,495
At 31 March 2025
5,773,172
720,701
97,875
32,634
8,419
74,584
6,707,385
Depreciation and impairment
At 1 April 2024
-
0
123,206
29,399
13,104
4,617
11,310
181,636
Depreciation charged in the year
-
0
118,332
26,787
9,471
1,745
12,189
168,524
At 31 March 2025
-
0
241,538
56,186
22,575
6,362
23,499
350,160
Carrying amount
At 31 March 2025
5,773,172
479,163
41,689
10,059
2,057
51,085
6,357,225
At 31 March 2024
5,773,172
382,547
59,416
19,530
1,815
31,774
6,268,254
The company had no tangible fixed assets at 31 March 2025 or 31 March 2024.
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 28 -

Tangible fixed assets with a carrying amount of £6,357,225 (2024 - £6,268,254) have been pledged to secure borrowings of the group. The group is not allowed to pledge these assets as security for other borrowings.

The freehold property was valued on 31st March 2018 by the director of the company. The valuation was based on recent market evidence, including comparable property prices obtained from Zoopla and other publicly available property listing services, adjusted where necessary to reflect the specific characteristics of the property.

The revaluation surplus is disclosed in note 23.

The following asse t s are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

2025
2024
£
£
Group
Cost
5,773,172
5,382,042
13
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
1
1
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2024 and 31 March 2025
1
Carrying amount
At 31 March 2025
1
At 31 March 2024
1
14
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Big Van World Limited
United Kingdom
1 Ordinary
100.00
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 29 -
15
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Finished goods and goods for resale
5,567,375
6,231,591
-
0
-
0

The carrying amount of stocks includes £5,567,375 (2024 - £6,231,591) pledged to secure borrowings of the group. The group is not allowed to pledge these assets as security for other borrowings.

16
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
164,559
327,935
-
0
-
0
Other debtors
5,512,366
5,278,238
-
0
-
0
Prepayments and accrued income
67,930
92,544
-
0
-
0
5,744,855
5,698,717
-
-
Deferred tax asset (note 21)
121,532
-
0
-
0
-
0
5,866,387
5,698,717
-
-

Debtors with a carrying amount of £5,798,458 (2024 - £5,606,174) have been pledged to secure borrowings of the group. The group is not allowed to pledge these assets as security for other borrowings.

17
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
19
464,677
1,224,815
-
0
-
0
Obligations under finance leases
20
704,032
756,476
-
0
-
0
Other borrowings
19
2,046,630
798,486
-
0
-
0
Trade creditors
3,975,238
4,919,287
-
0
-
0
Corporation tax payable
283,968
361,708
-
0
-
0
Other taxation and social security
628,707
332,565
-
0
-
0
Other creditors
21,605
52,993
-
0
-
0
Accruals and deferred income
63,225
42,200
-
0
-
0
8,188,082
8,488,530
-
0
-
0

The stock loans are secured by way of an all monies debenture over the company with first unlimited priority over owned vehicles.

There is a fixed and floating charge over all the assets of the company to HSBC Bank Plc.

There is a second fixed and floating charge over the property or undertakings of the company to Firstrand Bank Limited trading as Motonovo Finance.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 30 -
18
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
19
2,322,922
1,709,714
-
0
-
0
Obligations under finance leases
20
407,061
569,570
-
0
-
0
Other borrowings
19
196,889
228,889
-
0
-
0
2,926,872
2,508,173
-
-

The stock loans are secured by way of an all monies debenture over the company with first unlimited priority over owned vehicles.

There is a fixed and floating charge over all the assets of the company to HSBC Bank Plc.

There is a second fixed and floating charge over the property or undertakings of the company to Firstrand Bank Limited trading as Motonovo Finance.

19
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
2,787,599
1,994,197
-
0
-
0
Bank overdrafts
-
0
940,332
-
0
-
0
Other loans
2,243,519
1,027,375
-
0
-
0
5,031,118
3,961,904
-
-
Payable within one year
2,511,307
2,023,301
-
0
-
0
Payable after one year
2,519,811
1,938,603
-
0
-
0

The stock loans are secured by way of an all monies debenture over the company with first unlimited priority over owned vehicles.

There is a fixed and floating charge over all the assets of the company to HSBC Bank Plc.

There is a second fixed and floating charge over the property or undertakings of the company to Firstrand Bank Limited trading as Motonovo Finance.

There is a third fixed charge granted to Lombard North Central Plc over the fixed asset as a first chargee by way of a secured mortgage.

There is a fourth fixed charge granted to Welford Properties Limited over the fixed asset as a first chargee by way of a secured mortgage.

The HSBC loans are also secured by personal guarantee by the director.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 31 -
20
Finance lease obligations
Group
Company
2025
2024
2025
2024
Amounts due:
£
£
£
£
Current liabilities
704,032
756,476
-
0
-
0
Non-current liabilities
407,061
569,570
-
0
-
0
1,111,093
1,326,046
-
-
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
704,032
756,476
-
0
-
0
In two to five years
407,061
569,570
-
0
-
0
1,111,093
1,326,046
-
-
21
Deferred taxation

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

Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Group
£
£
£
£
Accelerated capital allowances
213,309
213,309
-
-
Tax losses
19,558
-
-
-
Spare 1
-
-
121,532
-
232,867
213,309
121,532
-
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 April 2024
213,309
-
Credit to profit or loss
(101,974)
-
Liability at 31 March 2025
111,335
-
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 32 -
22
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1

Ordinary shares are entitled to one vote in any circumstances, equal rights to dividends, to participate in a distribution on winding up of the company and are non-redeemable.

23
Revaluation reserve
Group
Company
2025
2024
2025
2024
£
£
£
£
At the beginning of the year
362,984
-
0
-
0
-
0
Other movements
-
362,984
-
-
At the end of the year
362,984
362,984
-
0
-
24
Merger reserve
2025
2024
Group
£
£
At the beginning of the year
6,917,615
-
Additions
-
6,917,615
At the end of the year
6,917,615
6,917,615
2025
2024
Company
£
£
At the beginning and end of the year
-
-
25
Profit and loss reserves
Group
Company
2025
2024
2025
2024
£
£
£
£
At the beginning of the year
(204,821)
-
-
-
Profit/(loss) for the year
(535,057)
(204,821)
36,000
-
0
Dividends
(36,000)
-
(36,000)
-
At the end of the year
(775,878)
(204,821)
-
0
-
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 33 -
26
Financial commitments, guarantees and contingent liabilities

The director does not believe there are any financial commitments, guarantees or contingent liabilities that need to be disclosed.

27
Events after the reporting date

There are no events after the year end that the directors believe need to be reported.

28
Related party transactions
Transactions with related parties

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

Purchases
Purchases
2025
2024
£
£
Group
Other related parties
19,585
73,064
Rental income
2025
2024
£
£
Group
Other related parties
28,120
46,023

The following amounts were outstanding at the reporting end date:

Amounts due from related parties
2025
2024
Balance
Balance
£
£
Group
Other related parties
1,906,322
1,352,064
Other information

During the year, the group entered into transactions with entities controlled by Mr M Austen, a director of the group companies. These entities comprised of Big MXworld Limited, of which Mr Austen owns 100% of the issued share capital, and Big Van World Marine Operations LLP, of which Mr Austen holds a 99% interest.

Transactions during the year included the sale and purchase of goods and services, rental income, and the recharge of costs incurred on behalf of the LLP, including finance payments relating to assets owned by the LLP. These transactions were undertaken in the normal course of business.

The directors consider that all transactions with related parties were carried out on terms equivalent to those prevailing in arm's length transactions.

At the reporting date, amounts were due to and from these related parties. The balances are unsecured, interest free and repayable on demand.

BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 34 -
29
Directors' transactions

Dividends totalling £36,000 (2024 - £0) were paid in the year in respect of shares held by the company's directors.

Advances
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
DLA
2.25
1,499,480
149,285
35,182
(145,319)
1,538,628
1,499,480
149,285
35,182
(145,319)
1,538,628
30
Controlling party

The ultimate controlling party is Mr M Austen.

31
Cash generated from/(absorbed by) group operations
2025
2024
£
£
Loss after taxation
(535,057)
(204,821)
Adjustments for:
Taxation (credited)/charged
(101,974)
100
Finance costs
568,377
515,657
Investment income
(35,182)
(28,436)
Depreciation and impairment of tangible fixed assets
168,524
181,636
Movements in working capital:
Decrease/(increase) in stocks
664,216
(6,231,591)
Increase in debtors
(6,989)
(4,199,237)
(Decrease)/increase in creditors
(658,270)
5,347,045
Cash generated from/(absorbed by) operations
63,645
(4,619,647)
32
Cash generated from operations - company
2025
2024
£
£
Profit after taxation
36,000
-
Adjustments for:
Investment income
(36,000)
-
0
Cash generated from operations
-
-
BIG VAN WORLD HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 35 -
33
Analysis of changes in net debt - group
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
87,229
(25,673)
61,556
Bank overdrafts
(940,332)
940,332
-
0
(853,103)
914,659
61,556
Borrowings excluding overdrafts
(3,021,572)
(2,009,546)
(5,031,118)
Obligations under finance leases
(1,326,046)
214,953
(1,111,093)
(5,200,721)
(879,934)
(6,080,655)
34
Analysis of changes in net funds - company
1 April 2024
31 March 2025
£
£
2025-03-31 2024-04-01 false false CCH Software CCH Accounts Production 2026.200 Mr M Austen false 14757618 bus:Consolidated 2024-04-01 2025-03-31 14757618 2024-04-01 2025-03-31 14757618 bus:Director1 2024-04-01 2025-03-31 14757618 bus:RegisteredOffice 2024-04-01 2025-03-31 14757618 2025-03-31 14757618 bus:Consolidated 2025-03-31 14757618 bus:Consolidated 2023-03-25 2024-03-31 14757618 2023-03-25 2024-03-31 14757618 bus:Consolidated 2024-03-31 14757618 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2025-03-31 14757618 core:LeaseholdImprovements bus:Consolidated 2025-03-31 14757618 core:PlantMachinery bus:Consolidated 2025-03-31 14757618 core:FurnitureFittings bus:Consolidated 2025-03-31 14757618 core:ComputerEquipment bus:Consolidated 2025-03-31 14757618 core:MotorVehicles bus:Consolidated 2025-03-31 14757618 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-03-31 14757618 core:LeaseholdImprovements bus:Consolidated 2024-03-31 14757618 core:PlantMachinery bus:Consolidated 2024-03-31 14757618 core:FurnitureFittings bus:Consolidated 2024-03-31 14757618 core:ComputerEquipment bus:Consolidated 2024-03-31 14757618 core:MotorVehicles bus:Consolidated 2024-03-31 14757618 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2025-03-31 14757618 core:CurrentFinancialInstruments bus:Consolidated 2024-03-31 14757618 core:ShareCapital bus:Consolidated 2025-03-31 14757618 core:ShareCapital bus:Consolidated 2024-03-31 14757618 core:RevaluationReserve bus:Consolidated 2025-03-31 14757618 core:RevaluationReserve bus:Consolidated 2024-03-31 14757618 core:OtherMiscellaneousReserve bus:Consolidated 2025-03-31 14757618 core:OtherMiscellaneousReserve bus:Consolidated 2024-03-31 14757618 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2025-03-31 14757618 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-03-31 14757618 core:ShareCapital 2025-03-31 14757618 core:ShareCapital 2024-03-31 14757618 core:ShareCapital bus:Consolidated 2023-03-24 14757618 core:SharePremium bus:Consolidated 2023-03-24 14757618 2023-03-24 14757618 core:ShareCapital 2023-03-24 14757618 core:RetainedEarningsAccumulatedLosses 2023-03-24 14757618 core:RetainedEarningsAccumulatedLosses 2024-03-31 14757618 2024-03-31 14757618 core:RetainedEarningsAccumulatedLosses 2025-03-31 14757618 core:RevaluationReserve bus:Consolidated 2024-03-31 14757618 core:RevaluationReserve 2024-03-31 14757618 core:RevaluationReserve 2023-03-24 14757618 core:RevaluationReserve 2025-03-31 14757618 core:ShareCapital bus:Consolidated 2023-03-25 2024-03-31 14757618 core:ShareCapital 2023-03-25 2024-03-31 14757618 bus:Consolidated 2023-03-24 14757618 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 14757618 core:LeaseholdImprovements 2024-04-01 2025-03-31 14757618 core:PlantMachinery 2024-04-01 2025-03-31 14757618 core:FurnitureFittings 2024-04-01 2025-03-31 14757618 core:ComputerEquipment 2024-04-01 2025-03-31 14757618 core:MotorVehicles 2024-04-01 2025-03-31 14757618 core:UKTax bus:Consolidated 2024-04-01 2025-03-31 14757618 core:UKTax bus:Consolidated 2023-03-25 2024-03-31 14757618 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-03-31 14757618 core:LeaseholdImprovements bus:Consolidated 2024-03-31 14757618 core:PlantMachinery bus:Consolidated 2024-03-31 14757618 core:FurnitureFittings bus:Consolidated 2024-03-31 14757618 core:ComputerEquipment bus:Consolidated 2024-03-31 14757618 core:MotorVehicles bus:Consolidated 2024-03-31 14757618 bus:Consolidated 2024-03-31 14757618 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-04-01 2025-03-31 14757618 core:LeaseholdImprovements bus:Consolidated 2024-04-01 2025-03-31 14757618 core:PlantMachinery bus:Consolidated 2024-04-01 2025-03-31 14757618 core:FurnitureFittings bus:Consolidated 2024-04-01 2025-03-31 14757618 core:ComputerEquipment bus:Consolidated 2024-04-01 2025-03-31 14757618 core:MotorVehicles bus:Consolidated 2024-04-01 2025-03-31 14757618 core:Subsidiary1 2024-04-01 2025-03-31 14757618 core:Subsidiary1 1 2024-04-01 2025-03-31 14757618 core:CurrentFinancialInstruments bus:Consolidated 2025-03-31 14757618 core:CurrentFinancialInstruments 2025-03-31 14757618 core:CurrentFinancialInstruments 2024-03-31 14757618 core:CurrentFinancialInstruments bus:Consolidated 1 2025-03-31 14757618 core:CurrentFinancialInstruments bus:Consolidated 1 2024-03-31 14757618 core:CurrentFinancialInstruments 2 2025-03-31 14757618 core:CurrentFinancialInstruments 2 2024-03-31 14757618 core:WithinOneYear bus:Consolidated 2025-03-31 14757618 core:WithinOneYear bus:Consolidated 2024-03-31 14757618 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 14757618 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14757618 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2025-03-31 14757618 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2024-03-31 14757618 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 14757618 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14757618 core:Non-currentFinancialInstruments bus:Consolidated 2025-03-31 14757618 core:Non-currentFinancialInstruments bus:Consolidated 2024-03-31 14757618 core:Non-currentFinancialInstruments 2025-03-31 14757618 core:Non-currentFinancialInstruments 2024-03-31 14757618 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-03-31 14757618 core:WithinOneYear 2025-03-31 14757618 core:WithinOneYear 2024-03-31 14757618 core:BetweenTwoFiveYears bus:Consolidated 2025-03-31 14757618 core:BetweenTwoFiveYears bus:Consolidated 2024-03-31 14757618 core:BetweenTwoFiveYears 2025-03-31 14757618 core:BetweenTwoFiveYears 2024-03-31 14757618 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 14757618 bus:FRS102 2024-04-01 2025-03-31 14757618 bus:Audited 2024-04-01 2025-03-31 14757618 bus:ConsolidatedGroupCompanyAccounts 2024-04-01 2025-03-31 14757618 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP