Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31falsetruetrue2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-04-01No description of principal activity3 03825902 2021-04-01 2022-03-31 03825902 2020-04-01 2021-03-31 03825902 2022-03-31 03825902 2021-03-31 03825902 c:Director2 2021-04-01 2022-03-31 03825902 d:FreeholdInvestmentProperty 2022-03-31 03825902 d:FreeholdInvestmentProperty 2021-03-31 03825902 d:FreeholdInvestmentProperty 2 2021-04-01 2022-03-31 03825902 d:CurrentFinancialInstruments 2022-03-31 03825902 d:CurrentFinancialInstruments 2021-03-31 03825902 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03825902 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 03825902 d:ShareCapital 2022-03-31 03825902 d:ShareCapital 2021-03-31 03825902 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 03825902 d:RetainedEarningsAccumulatedLosses 2022-03-31 03825902 d:RetainedEarningsAccumulatedLosses 2021-03-31 03825902 c:FRS102 2021-04-01 2022-03-31 03825902 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 03825902 c:FullAccounts 2021-04-01 2022-03-31 03825902 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 03825902










H P RENTALS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

 
H P RENTALS LIMITED
REGISTERED NUMBER: 03825902

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Investment property
 4 
1,300,000
882,609

Current assets
  

Debtors: amounts falling due within one year
 5 
2,000
4,001

Cash at bank and in hand
  
37,617
24,381

  
39,617
28,382

Creditors: amounts falling due within one year
 6 
(755,243)
(798,384)

Net current liabilities
  
 
 
(715,626)
 
 
(770,002)

  

Net assets
  
584,374
112,607


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
584,274
112,507

  
584,374
112,607


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 September 2022.


T J Hall
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
H P RENTALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

HP Rentals Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 03825902). Its registered office is The Birches Hollins, Old Brampton, Chesterfield, Derbyshire, S42 7JH. The principal activity of the Company throughout the year continued to be that of  investment property rental.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the directors and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings. 

 
2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. 

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Page 2

 
H P RENTALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2021
882,609


Surplus on revaluation
417,391



At 31 March 2022
1,300,000

The 2022 valuations were made by the directors, on an open market value for existing use basis.








5.


Debtors

2022
2021
£
£


Trade debtors
2,000
4,001



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Amounts owed to group undertakings
737,720
776,529

Corporation tax
12,755
15,005

Other taxation and social security
3,633
5,600

Accruals and deferred income
1,135
1,250

755,243
798,384


Page 3

 
H P RENTALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

7.


Reserves

Profit and loss account

Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, whilst previous UK GAAP stipulated that the surplus on revaluation  of the property should be held in a revaluation reserve, which, being an unrealised surplus, did not form part of the company's distributable reserves, FRS 102 requires that these surpluses, although still not distributable, be charged through the profit and loss account. Consequently the profit and loss account reserve at 31 March 2022 includes a non-distributable amount of £417,391 (2021-£nil).

 
Page 4