Business Car Rentals Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04378918 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Business Car Rentals Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P D McArdle

SECRETARY:

S McArdle

REGISTERED OFFICE:

LDC House

Stuart Road

Pontefract

WF8 4PQ

REGISTERED NUMBER:

04378918 (England and Wales)

ACCOUNTANTS:

Botham Accounting Limited

Chartered Accountants

14 Clarendon Street

Nottingham

Nottinghamshire

NG1 5HQ

FIXED ASSETS

Tangible assets

4

214,711

691,619

CURRENT ASSETS

Stocks

-

10,182

Debtors

5

4,466

3,131

Cash at bank and in hand

619,962

194,245

624,428

207,558

CREDITORS

Amounts falling due within one year

6

86,823

113,915

NET CURRENT ASSETS

537,605

93,643

TOTAL ASSETS LESS CURRENT LIABILITIES

752,316

785,262

PROVISIONS FOR LIABILITIES

-

29,330

NET ASSETS

752,316

755,932

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

752,315

755,931

SHAREHOLDERS' FUNDS

752,316

755,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 July 2020 and were signed by:

P D McArdle - Director

1.	STATUTORY INFORMATION

Business Car Rentals 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.

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.

Turnover

Turnover represents net invoiced sales of vehicles and vehicle rental for the period.

Tangible fixed assets

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

Motor vehicles

-

30% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 balance sheet date.

Deferred tax

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

the balance sheet 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.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 January 2019

1,364,380

Disposals

(568,666

)

At 31 December 2019

795,714

DEPRECIATION

At 1 January 2019

672,761

Charge for year

229,016

Eliminated on disposal

(320,774

)

At 31 December 2019

581,003

NET BOOK VALUE

At 31 December 2019

214,711

At 31 December 2018

691,619

A cherished vehicle registration number plate is included with motor vehicles at a cost of £612 (2018 -

£612), and is a non-depreciable asset.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Deferred tax asset

1,269

-

Prepayments

3,197

3,131

4,466

3,131

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

21,545

29,729

Taxation and social security

37,060

33,462

Other creditors

28,218

50,724

86,823

113,915

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1

1

1

8.	RELATED PARTY DISCLOSURES

At the year-end, there was an amount due to a company in which the director has an interest of £542

(2018: £542).

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by Learner Driving Centres Limited, a company controlled by P McArdle.