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Registration number: 09891858

Rent UK Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Rent UK Services Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Rent UK Services Limited

(Registration number: 09891858)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

23

34

Current assets

 

Cash at bank and in hand

 

451,496

348,820

Creditors: Amounts falling due within one year

5

(363,378)

(251,404)

Net current assets

 

88,118

97,416

Total assets less current liabilities

 

88,141

97,450

Creditors: Amounts falling due after more than one year

5

-

(16,400)

Provisions for liabilities

-

(6)

Net assets

 

88,141

81,044

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

88,041

80,944

Shareholders' funds

 

88,141

81,044

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 September 2022 and signed on its behalf by:
 

.........................................
Mr H Mohammed
Director

 

Rent UK Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Time Technology Park
Blackburn Road
Simonstone
BB12 7TY

These financial statements were authorised for issue by the Board on 14 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Rent UK Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 2).

 

Rent UK Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2021

250

250

At 31 December 2021

250

250

Depreciation

At 1 January 2021

216

216

Charge for the year

11

11

At 31 December 2021

227

227

Carrying amount

At 31 December 2021

23

23

At 31 December 2020

34

34

 

Rent UK Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Creditors

Note

2021
£

2020
£

Loans and borrowings

7

-

4,100

Trade creditors

 

48,603

24,200

Taxation and social security

 

3,739

8,711

Accruals and deferred income

 

1,644

1,644

Other creditors

 

309,392

212,749

 

363,378

251,404

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

-

16,400

6

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

-

16,400

2021
£

2020
£

Current loans and borrowings

Bank borrowings

-

4,100

Other borrowings

4,880

4,880

4,880

8,980