Leading local mini bus and private hire service, providing disabled access vehicles | Hyde Accessible Transport

Hyde Accessible Transport Ltd are a taxi and accessible transport company based in Hyde, Greater Manchester. Due to their focus on social cause and responsibility, the company was awarded an everyday hero on BBC News. They've filled a gap in a niche market providing accessible transport vehicles. Money raised will go towards the purchasing of new vehicles and expansion.

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Providing a leading accessible transport service to the UK

Hyde Accessible Transport Ltd are a taxi and accessible transport company based in Hyde, Greater Manchester. I have been in this business for 25 years and was inspired to start the business when I saw a gap in the market. My wife being a physio therapist gave me insights, which enabled me to better understand the market. We now own 120 specialist vehicles and are excited about the prospect of growth.

What sets us apart is that we provide our customers with a choice of the largest range of Accessible Vehicles in Greater Manchester.There are very few companies that have the types of specialist vehicles we own. We have a high demand, mostly working with the council providing our service to those who need it most. For example, we are responsible for taking 600 children to and from school. Secondly, we differentiate ourselves from our competitors by offering set fares and consistently low prices to ensure our customers are satisfied.

We have strong company values and are committed to social causes.Throughout the pandemic we provided our support to the NHS since ambulances were in high demand. This led to us being nominated for the BBC NorthWest Everyday Heroes Award.

We pride ourselves on the friendly nature of our drivers and believe that our hospitality is one of the most important features of our business. Furthermore, our drivers are both experienced and reliable which, we think, is crucial to providing excellent service to our customers. With the money raised we will purchase more vehicles which will allow us to continue to provide our 5 star service and further our commitment to increase accessibility.

Covid Resilience:
Hyde Accessible Transport Ltd supported the NHS during the pandemic.

Credit Commentary:
The director is providing a personal guarantee and indemnity. This means that if the business fails to make payments on the loan the director will be liable to make the payments or settle the loan. The director is a homeowner, however this does not ensure there are sufficient assets should the loan need to be recovered. There have been no CCJs for the business or director. We have been provided with draft 2022 accounts (not held by Equifax) which report an increased turnover to £3m and pre tax profit of £266k. Shareholder funds increased to £215k after dividends of £90k. We have calculated net gearing of 441% and this reflects the capital intensive nature of the business, with £765k of HP outstanding against fixed assets with a book value of £944k. Their Equifax score and grade has recently improved.

HYDE ACCESSIBLE TRANSPORT

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HYDE ACCESSIBLE TRANSPORT

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