Gimtool wins licence
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G1MTOOL, a company formed by the directors of Mid Warwickshire Motors, has been successful in its second attempt to obtain a new psv operator's licence before the West Midland Traffic Commissioners.
The company's initial application for a 20-vehicle licence was refused because the Commissioners did not believe the company had sufficient financial resources (CM, April 9).
The commissioners were told that Mid Warwickshire had cash flow problems and had been wound up following a petition from the Inland Revenue. Such a situation could happen to the best of companies without any suggestion of malpractice. It had no bearing on the repute of the directors, Mr and Mrs Day, and no direct bearing on the finances of Gimtool.
Audited accounts for the last eight months during which Gimtool had operated as a tour organiser showed a net profit of £11,545 after tax. George Day owned the former Mid Warwickshire premises which he would rent to Gimtool. The company owned two vehicles, it was leasing a further two and it had the use of four others. The company was no longer interested in carrying out the stage carriage work of Mid Warwickshire and it intended to trade purely as private hire and tour operators.
Questioned by Commissioners' chairman Ronald Jackson, Mr Day said he had leased some vehicles to Rainworth Travel following the previous hearing and inter-hired work to Rainworth which Gimtool had had on its books. Rainworth Travel appointed him as agent to operate the tours on its behalf. That arrangement would cease if Gimtool was granted a licence.
Granting a licence for eight single-deckers for 12 months, Mr Jackson said that when renewal was sought the Commissioners would hope to see either audited or draft accounts produced which would bear out the budgeted forecast produced to them in support of the current application.