Excel Vehicle Hire Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03416010 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2025

for

Excel Vehicle Hire Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTORS:

S P Harvey

P Harvey

REGISTERED OFFICE:

1-2 Ascot Drive

Derby

DE24 8GW

REGISTERED NUMBER:

03416010 (England and Wales)

ACCOUNTANTS:

M. J. Shapcott & Co. Limited

Chartered Accountants

Charter House, Wyvern Court

Stanier Way

Derby

DE21 6BF

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Excel Vehicle Hire Limited for the year ended 31 August 2025 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Excel Vehicle Hire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Excel Vehicle Hire Limited and state those matters that we have agreed to state to the Board of Directors of Excel Vehicle Hire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Excel Vehicle Hire Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Excel Vehicle Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Excel Vehicle Hire Limited. You consider that Excel Vehicle Hire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Excel Vehicle Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

M. J. Shapcott & Co. Limited

Chartered Accountants

Charter House, Wyvern Court

Stanier Way

Derby

DE21 6BF

7 November 2025

FIXED ASSETS

Tangible assets

4

2,394,242

2,398,675

CURRENT ASSETS

Debtors

5

23,515

33,579

Prepayments and accrued income

35,854

41,309

Cash at bank

40,261

39,164

99,630

114,052

CREDITORS

Amounts falling due within one year

6

683,635

683,812

NET CURRENT LIABILITIES

(584,005

)

(569,760

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,810,237

1,828,915

CREDITORS

Amounts falling due after more than one year

7

(1,017,792

)

(1,127,587

)

PROVISIONS FOR LIABILITIES

(157,710

)

(125,357

)

ACCRUALS AND DEFERRED INCOME

(1,654

)

(2,122

)

NET ASSETS

633,081

573,849

CAPITAL AND RESERVES

Called up share capital

250

Fair value reserve

9

50,990

37,987

Retained earnings

581,841

535,612

633,081

573,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 7 November 2025 and were signed on its behalf by:

S P Harvey - Director

1.	STATUTORY INFORMATION

Excel Vehicle Hire 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

at varying rates on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Departure from frs102(1a)

The company has determined that the most appropriate method to account for their hire purchase agreements is in line with the above accounting policy. This is a departure from FRS102(1A) Section 11 which requires amortised cost to be used for financial instruments. The Directors of the company have considered both methods and determined the method as stipulated in the accounting policies will provide a true and fair view within the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

COST OR VALUATION

At 1 September 2024

200,000

4,555

555

3,021,452

3,226,562

Additions

-

677,381

Disposals

-

(718,892

)

(718,892

)

Revaluations

30,000

-

30,000

At 31 August 2025

230,000

4,555

555

2,979,941

3,215,051

DEPRECIATION

At 1 September 2024

-

4,555

555

822,777

827,887

Charge for year

-

422,807

Eliminated on disposal

-

(429,885

)

(429,885

)

At 31 August 2025

-

4,555

555

815,699

820,809

NET BOOK VALUE

At 31 August 2025

230,000

-

2,164,242

2,394,242

At 31 August 2024

200,000

-

2,198,675

2,398,675

Cost or valuation at 31 August 2025 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

Valuation in 2018

21,595

-

21,595

Valuation in 2019

(3,608

)

-

(3,608

)

Valuation in 2022

20,000

-

20,000

Valuation in 2025

30,000

-

30,000

Cost

162,013

4,555

555

2,979,941

3,147,064

230,000

4,555

555

2,979,941

3,215,051

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

Cost

162,013

Aggregate depreciation

25,920

22,680

Freehold land and buildings were valued on an open market basis on 31 August 2025 by the directors. .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

5,550

-

Other debtors

17,965

33,579

23,515

33,579

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

15,351

30,128

Hire purchase contracts

634,655

618,339

Trade creditors

1,440

16,929

Taxation and social security

17,219

(9,231

)

Other creditors

14,970

27,647

683,635

683,812

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

51,841

67,741

Hire purchase contracts

965,951

1,059,846

1,017,792

1,127,587

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

15,889

24,887

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank Loans

60,828

69,827

The directors have provided a personal guarantee over the mortgage held by the company.

9.

RESERVES

Fair

value

reserve

£

At 1 September 2024

37,987

Transfers

13,003

At 31 August 2025

50,990