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WILTON VEHICLE RENTALS LIMITED

Unaudited Financial Statements

for the Year Ended 30th June 2023






WILTON VEHICLE RENTALS LIMITED (REGISTERED NUMBER: 05171161)






Contents of the Financial Statements
for the year ended 30th June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WILTON VEHICLE RENTALS LIMITED

Company Information
for the year ended 30th June 2023







DIRECTORS: T A Williams
S A Thornton





SECRETARY: T A Williams





REGISTERED OFFICE: Williams Brothers Industrial Park
Pingwood Lane
Kirkby
Liverpool
L33 4XZ





REGISTERED NUMBER: 05171161 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

WILTON VEHICLE RENTALS LIMITED (REGISTERED NUMBER: 05171161)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,950 26,600

CURRENT ASSETS
Stocks 534,998 688,872
Debtors 5 147,121 30,956
Cash at bank 352,813 239,883
1,034,932 959,711
CREDITORS
Amounts falling due within one year 6 177,729 188,666
NET CURRENT ASSETS 857,203 771,045
TOTAL ASSETS LESS CURRENT LIABILITIES 877,153 797,645

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 877,053 797,545
SHAREHOLDERS' FUNDS 877,153 797,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29th September 2023 and were signed on its behalf by:



S A Thornton - Director


WILTON VEHICLE RENTALS LIMITED (REGISTERED NUMBER: 05171161)

Notes to the Financial Statements
for the year ended 30th June 2023

1. STATUTORY INFORMATION

Wilton Vehicle 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.

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


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.

Critical accounting judgements and key sources of estimation uncertainty
Preparation of the financial statements requires management to make significant judgements and estimates.
The area's in the financial statements where these judgements and estimates have been made include:

-The useful economic lives and residual values of tangible fixed assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance

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.

WILTON VEHICLE RENTALS LIMITED (REGISTERED NUMBER: 05171161)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to related parties.

Debt instruments (other than those wholly repayable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement and retained earnings.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs
Finance costs are charged to the income statement and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

WILTON VEHICLE RENTALS LIMITED (REGISTERED NUMBER: 05171161)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st July 2022
and 30th June 2023 94,218
DEPRECIATION
At 1st July 2022 67,618
Charge for year 6,650
At 30th June 2023 74,268
NET BOOK VALUE
At 30th June 2023 19,950
At 30th June 2022 26,600

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,700 20,960
Other debtors 126,421 9,996
147,121 30,956

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,302 121
Taxation and social security 31,277 84,795
Other creditors 143,150 103,750
177,729 188,666