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REGISTERED NUMBER: 11471115 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

FLETCHER RENTALS LTD

FLETCHER RENTALS LTD (REGISTERED NUMBER: 11471115)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FLETCHER RENTALS LTD

COMPANY INFORMATION
For The Year Ended 31 July 2023







DIRECTOR: Mr Richard James Fletcher





REGISTERED OFFICE: 7 Lairs Crescent
Snainton
Scarborough
North Yorkshire
YO13 9BQ





REGISTERED NUMBER: 11471115 (England and Wales)





ACCOUNTANTS: Fortus North Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

FLETCHER RENTALS LTD (REGISTERED NUMBER: 11471115)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 230,000 200,000

CURRENT ASSETS
Debtors 5 5,657 1,970
Cash at bank 32,087 25,627
37,744 27,597
CREDITORS
Amounts falling due within one year 6 69,854 67,279
NET CURRENT LIABILITIES (32,110 ) (39,682 )
TOTAL ASSETS LESS CURRENT LIABILITIES 197,890 160,318

CREDITORS
Amounts falling due after more than
one year

7

(144,495

)

(144,495

)

PROVISIONS FOR LIABILITIES (5,803 ) (103 )
NET ASSETS 47,592 15,720

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 9 24,738 438
Retained earnings 22,844 15,272
47,592 15,720

FLETCHER RENTALS LTD (REGISTERED NUMBER: 11471115)

BALANCE SHEET - continued
31 July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 October 2023 and were signed by:





Mr Richard James Fletcher - Director


FLETCHER RENTALS LTD (REGISTERED NUMBER: 11471115)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2023


1. STATUTORY INFORMATION

Fletcher Rentals Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The level of rounding used in the financial statements is to the nearest £1.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income arising from the investment property and is recognised on a straight line basis over the lease term.

Investment property
Investment properties are properties held to earn rentals or for capital appreciation or both.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains.

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

FLETCHER RENTALS LTD (REGISTERED NUMBER: 11471115)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Going concern - basis of preparation
In assessing the appropriateness of the application of the going concern basis, the director has considered the uncertainties around the general economic environment, the current and future trading performance of the company and available cash. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, accordingly he continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 200,000
Revaluations 30,000
At 31 July 2023 230,000
NET BOOK VALUE
At 31 July 2023 230,000
At 31 July 2022 200,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2019 (4,459 )
Valuation in 2022 5,000
Valuation in 2023 30,000
Cost 199,459
230,000

The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.

The investment properties have been valued by the director at fair value taking into account existing tenancy arrangements.

During the year an increase in the fair value of investment properties of £30,000 has been included
directly in the profit and loss account.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,638 -
Other debtors 2,019 1,970
5,657 1,970

FLETCHER RENTALS LTD (REGISTERED NUMBER: 11471115)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 2,245 1,731
Other creditors 67,609 65,548
69,854 67,279

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 144,495 144,495

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans falling due more
than 5 years non-instalments 144,495 144,495
144,495 144,495

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 144,495 144,495

The company's bank borrowings included in creditors due over one year are secured by a first legal charge over the freehold investment property.

9. RESERVES
Fair
value
reserve
£   
At 1 August 2022 438
Revaluation of property 30,000
Deferred tax on investment
property (5,700 )

At 31 July 2023 24,738

10. RELATED PARTY DISCLOSURES

Included in creditors due within one year is £66,838 (2022 £64,838) owing to the director of the
company.

11. GOING CONCERN

The director continues to adopt the going concern basis for the preparation of the accounts. The company continues to trade with the support of its director.