REGISTERED NUMBER: 05825746 (England and Wales)

Report of the Directors and

Financial Statements for the Period 1 October 2012 to 31 December 2012

for

A & A Prestige Chauffeurs Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Profit and Loss Account

5

Balance Sheet

6

Cash Flow Statement

7

Notes to the Cash Flow Statement

8

Notes to the Financial Statements

9

DIRECTORS:

Mr W J Edwards

Mrs J Edwards

Mr A J Edwards

Ms N Edwards

SECRETARY:

Mr H Raval

REGISTERED OFFICE:

Unit 5

Twelvetrees Business Park

Twelvetrees Crescent

Bromley by Bow

London

E3 3JQ

REGISTERED NUMBER:

05825746 (England and Wales)

AUDITORS:

Peters & Co

Chartered Certified Accountants

& Statutory Auditors

Imperial House

64 Willoughby Lane

London

N17 0SP

The directors present their report with the financial statements of the company for the period 1 October 2012 to

31 December 2012.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the hire of chauffeur driven vehicles.

REVIEW OF BUSINESS

The directors consider the trading results to be satisfactory and in line with projections.

The directors are excited about the potential trading opportunities for the coming year and expect the business mix to

alter as clients take advantage of the three tier option available.

DIVIDENDS

No dividends will be distributed for the period ended 31 December 2012.

DIRECTORS

The directors who have held office during the period from 1 October 2012 to the date of this report are as follows:

Mr R D Esqulant - resigned 13 November 2012

Mr W J Edwards - appointed 1 November 2012

Mrs J Edwards - appointed 1 November 2012

Mr A J Edwards - appointed 1 November 2012

Ms N Edwards - appointed 1 November 2012

COMPANY'S POLICY ON PAYMENT OF CREDITORS

The company's current policy concerning the payment of trade creditors is to:

settle the terms of payment with suppliers when agreeing the terms of each transaction;

ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts;

and

pay in accordance with the company's contractual and other legal obligations.

On average, trade creditors at the year end represented 6 (based on 3 months accounts), (2011 - 25) days' purchases.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the directors

are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act

2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have

taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the

company's auditors are aware of that information.

AUDITORS

The auditors, Peters & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr H Raval - Secretary

26 June 2013

We have audited the financial statements of A & A Prestige Chauffeurs Limited for the period ended 31 December 2012

on pages five to thirteen. The financial reporting framework that has been applied in their preparation is applicable law

and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of directors and auditors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Report of the Directors to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2012 and of its loss for the period 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.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Report of the Directors for the financial year for which the financial

statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you

if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the 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.

Peter Ogu (Senior Statutory Auditor)

for and on behalf of Peters & Co

Chartered Certified Accountants

& Statutory Auditors

Imperial House

64 Willoughby Lane

London

N17 0SP

26 June 2013

TURNOVER

2

150,960

226,376

Cost of sales

103,024

141,502

GROSS PROFIT

47,936

84,874

Administrative expenses

94,481

114,682

(46,545

)

(29,808

)

Other operating income

51

273

OPERATING LOSS and

LOSS ON ORDINARY ACTIVITIES

BEFORE TAXATION

4

(46,494

)

(29,535

)

Tax on loss on ordinary activities

5

-

-

LOSS FOR THE FINANCIAL PERIOD

(46,494

)

(29,535

)

CONTINUING OPERATIONS

None of the company's activities were acquired or discontinued during the current period or previous period.

TOTAL RECOGNISED GAINS AND LOSSES

The company has no recognised gains or losses other than the losses for the current period or previous period.

FIXED ASSETS

Intangible assets

8

-

40,839

CURRENT ASSETS

Debtors

9

59,818

87,703

Cash at bank

14,995

9,818

74,813

97,521

CREDITORS

Amounts falling due within one year

10

182,590

199,643

NET CURRENT LIABILITIES

(107,777

)

(102,122

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(107,777

)

(61,283

)

CAPITAL AND RESERVES

Called up share capital

13

1,000

1,000

Profit and loss account

14

(108,777

)

(62,283

)

SHAREHOLDERS' FUNDS

16

(107,777

)

(61,283

)

The financial statements were approved by the Board of Directors on 26 June 2013 and were signed on its behalf by:

Mr W J Edwards - Director

Net cash inflow

from operating activities

1

29,070

21,796

Taxation

-

(1,500

)

Capital expenditure

and financial investment

2

40,839

-

Equity dividends paid

-

(56,898

)

69,909

(36,602

)

Financing

2

(26,545

)

-

Increase/(decrease) in cash in the period

43,364

(36,602

)

Reconciliation of net cash flow

to movement in net debt

3

Increase/(decrease) in cash in the period

43,364

(36,602

)

Change in net debt resulting

from cash flows

43,364

(36,602

)

Movement in net debt in the period

43,364

(36,602

)

Net debt at 1 October

(49,904

)

(13,302

)

Net debt at 31 December

(6,540

)

(49,904

)

1.	RECONCILIATION OF OPERATING LOSS TO NET CASH INFLOW FROM OPERATING ACTIVITIES

Period

Period

1.10.12

1.6.12

to

to

31.12.12

30.9.12

£

£

Operating loss

(46,494

)

(29,535

)

Depreciation charges

40,839

-

Loss on disposal of fixed assets

-

19,373

Decrease/(increase) in debtors

27,885

(6,512

)

Increase in creditors

6,840

38,470

Net cash inflow from operating activities

29,070

21,796

2.	ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN THE CASH FLOW STATEMENT

Period

Period

1.10.12

1.6.12

to

to

31.12.12

30.9.12

£

£

Capital expenditure and financial investment

Impairment losses of intangible assets

40,839

-

Net cash inflow for capital expenditure and financial investment

40,839

-

Financing

Amount owed to/by fellow undertakings

(14,294

)

-

Sundries

(12,251

)

-

Net cash outflow from financing

(26,545

)

-

3.	ANALYSIS OF CHANGES IN NET DEBT

At

At

1.10.12

Cash flow

31.12.12

£

£

£

Net cash:

Cash at bank

9,818

5,177

14,995

Bank overdraft

(59,722

)

38,187

(21,535

)

(49,904

)

43,364

(6,540

)

Total

(49,904

)

43,364

(6,540

)

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and are in accordance with

applicable accounting standards.

Turnover

Turnover represents net invoiced services, excluding Value Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

There have been no write off over the years and the company has decided a full write off during the year as it

was considered that the goodwill has no remaining book value.

Tangible fixed assets

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Debtors on Confidential Invoice Discount

Trade debtors on confidential invoice discount are shown on the balance sheet as normal current asset of the

company and draw-down of fund maintained at agreed level. Balance on drawn-down (Trust) account is treated

as a bank account and shown as a liability when on credit.

2.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

Period

Period

1.10.12

1.6.12

to

to

31.12.12

30.9.12

£

£

United Kingdom

150,960

226,376

150,960

226,376

3.	STAFF COSTS

Period

Period

1.10.12

1.6.12

to

to

31.12.12

30.9.12

£

£

Wages and salaries

29,086

33,556

Social security costs

1,796

2,336

Other pension costs

-

500

30,882

36,392

The average monthly number of employees during the period was as follows:

Period

Period

1.10.12

1.6.12

to

to

31.12.12

30.9.12

4.	OPERATING LOSS

The operating loss is stated after charging:

Period

Period

1.10.12

1.6.12

to

to

31.12.12

30.9.12

£

£

Loss on disposal of fixed assets

-

19,373

Audit fees

500

-

Auditors' remuneration for non audit work

100

-

Directors' remuneration

12,330

3,286

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the period ended 31 December 2012 nor for

the period ended 30 September 2012.

6.

DIVIDENDS

Period

Period

1.10.12

1.6.12

to

to

31.12.12

30.9.12

£

£

A Ordinary shares shares of £1 each

Final

-

56,898

7.	GOING CONCERN

The financial statement have been prepared on a going concern basis even though at the balance sheet date the

company had net liabilities of £107,777 and it incurred a loss for the year of £46,494.

The directors consider the going concern basis to be appropriate because in their opinion the company will

continue to obtain sufficient funding from its parent company and other group undertakings to enable it to pay its

debts as they fall due.

If the company was unable to obtain sufficient funding to enable it to pay its debts as they fell due, it would be

unable to continue trading and adjustments would have to be made to reduce the value of the assets to their

realisable amount, to provide further liabilities which might arise, and to re-classify fixed assets and long term

liabilities as current assets and liabilities.

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2012

40,839

Impairments

(40,839

)

At 31 December 2012

-

NET BOOK VALUE

At 31 December 2012

-

At 30 September 2012

40,839

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2012

2012

£

£

Trade debtors

59,818

87,703

Included in debtors were £65,833 under confidential invoice discount agreement.

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2012

2012

£

£

Bank loans and overdrafts (see note 11)

21,535

59,722

Trade creditors

(1

)

(1

)

Amounts owed to group undertakings

14,294

-

Corporation Tax

36,234

36,234

Social security and other taxes

5,650

8,296

VAT

62,775

40,799

Other creditors

-

2,007

Accrued expenses

42,103

52,586

182,590

199,643

11.

LOANS

An analysis of the maturity of loans is given below:

2012

2012

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

21,535

59,722

12.	SECURED DEBTS

The following secured debts are included within creditors:

2012

2012

£

£

Bank overdrafts

21,535

59,722

Liabilities are secured as follows:

The company's trade debtors as state on debtors note are under confidential invoice discount arrangement. All

debts resulting from draw-down of fund on invoices are secured on specific charge over those book debts. These

debts are classified as total overdraft as above (previous - as above).

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2012

2012

value:

£

£

940

A Ordinary shares

£1

940

940

60

B Ordinary Shares

£1

60

60

1,000

1,000

14.

RESERVES

Profit

and loss

account

£

At 1 October 2012

(62,283

)

Deficit for the period

(46,494

)

At 31 December 2012

(108,777

)

15.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Brunel Group Holdings Plc, a company registered in England and Wales.

Registered office: Unit 5, Twelvetrees Business Park, Twelvetrees Crescent, Bromley by Bow, London E3 3JD.

Brunel Group Holdings Plc prepares group financial statements and copies can be obtained from its registered

office.

The company is ultimately controlled by W J Edwards and J Edwards who own and control the entire issued

share capital of Brunel Group Holdings Plc.

16.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2012

2012

£

£

Loss for the financial period

(46,494

)

(29,535

)

Dividends

-

(56,898

)

Net reduction of shareholders' funds

(46,494

)

(86,433

)

Opening shareholders' funds

(61,283

)

25,150

Closing shareholders' funds

(107,777

)

(61,283

)

17.	TRANSACTION WITH FELLOW SUBSIDIARIES

The company has taken advantage of exemption granted under FRS 8 not to disclose transactions with fellow

undertakings within the group. The consolidated financial statement of the parent company, Brunel Group

Holdings Plc could be obtained from the registered office of the company.