Leeds Rentals Limited Filleted accounts for Companies House (small and micro)

Leeds Rentals Limited Filleted accounts for Companies House (small and micro)

LEEDS RENTALS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08929548
LEEDS RENTALS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
25 March 2021
LEEDS RENTALS LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 28 MARCH 2020 TO 25 MARCH 2021
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
LEEDS RENTALS LIMITED
STATEMENT OF FINANCIAL POSITION
25 March 2021
25 Mar 21
27 Mar 20
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
30,165
32,557
CURRENT ASSETS
Debtors
6
1,036,184
886,455
Cash at bank and in hand
325,714
215,963
------------
------------
1,361,898
1,102,418
CREDITORS: amounts falling due within one year
7
( 1,145,215)
( 990,362)
------------
------------
NET CURRENT ASSETS
216,683
112,056
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
246,848
144,613
CREDITORS: amounts falling due after more than one year
8
( 35,000)
( 128)
PROVISIONS
Taxation including deferred tax
( 5,055)
( 5,361)
---------
---------
NET ASSETS
206,793
139,124
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
206,693
139,024
---------
---------
SHAREHOLDER FUNDS
206,793
139,124
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 25 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LEEDS RENTALS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
25 March 2021
These financial statements were approved by the board of directors and authorised for issue on 28 April 2022 , and are signed on behalf of the board by:
H S Manton
Director
Company registration number: 08929548
LEEDS RENTALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 28 MARCH 2020 TO 25 MARCH 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 28 Headingley Lane, Leeds, LS6 2AS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date .
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 3 (2020: 3 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 28 March 2020
38,753
9,600
5,294
53,647
Additions
3,500
–
–
3,500
--------
-------
-------
--------
At 25 March 2021
42,253
9,600
5,294
57,147
--------
-------
-------
--------
Depreciation
At 28 March 2020
11,061
6,563
3,466
21,090
Charge for the period
4,678
759
455
5,892
--------
-------
-------
--------
At 25 March 2021
15,739
7,322
3,921
26,982
--------
-------
-------
--------
Carrying amount
At 25 March 2021
26,514
2,278
1,373
30,165
--------
-------
-------
--------
At 27 March 2020
27,692
3,037
1,828
32,557
--------
-------
-------
--------
6. DEBTORS
25 Mar 21
27 Mar 20
£
£
Trade debtors
–
21,149
Other debtors
1,036,184
865,306
------------
---------
1,036,184
886,455
------------
---------
7. CREDITORS: amounts falling due within one year
25 Mar 21
27 Mar 20
£
£
Trade creditors
360,503
293,554
Corporation tax
18,323
–
Social security and other taxes
23,331
26,257
Amounts due to related companies
17,465
2,526
Other creditors
286,538
237,540
Other creditors
439,055
430,485
------------
---------
1,145,215
990,362
------------
---------
8. CREDITORS: amounts falling due after more than one year
25 Mar 21
27 Mar 20
£
£
Bank loans and overdrafts
35,000
–
Other creditors
–
128
--------
----
35,000
128
--------
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