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REGISTERED NUMBER: 10268472 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

COMMERCIAL FLEET RENTALS LIMITED

COMMERCIAL FLEET RENTALS LIMITED (Registered number: 10268472)






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


COMMERCIAL FLEET RENTALS LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr Adam Maclean





REGISTERED OFFICE: ADAM MACLEAN THE GABLES
CENTRAL DRIVE, SANDFIELD PARK
LIVERPOOL
Merseyside
L12 2AR





REGISTERED NUMBER: 10268472 (England and Wales)





ACCOUNTANTS: DBS Corporate Accountants
Suite 4102, Charlotte House
Queens Dock Business Centre
67-83 Norfolk Street
Liverpool
Merseyside
L1 0BG

COMMERCIAL FLEET RENTALS LIMITED (Registered number: 10268472)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,407,641 1,822,768

CURRENT ASSETS
Debtors 5 229,544 296,110
Cash at bank and in hand 105,048 220,571
334,592 516,681
CREDITORS
Amounts falling due within one year 6 625,663 638,607
NET CURRENT LIABILITIES (291,071 ) (121,926 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,116,570

1,700,842

CREDITORS
Amounts falling due after more than
one year

7

(1,353,935

)

(1,177,742

)

PROVISIONS FOR LIABILITIES (185,031 ) (109,211 )
NET ASSETS 577,604 413,889

COMMERCIAL FLEET RENTALS LIMITED (Registered number: 10268472)

Balance Sheet - continued
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 576,604 412,889
577,604 413,889

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 October 2023 and were signed by:





Mr Adam Maclean - Director


COMMERCIAL FLEET RENTALS LIMITED (Registered number: 10268472)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

COMMERCIAL FLEET 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.

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.

Turnover
Turnover is measured at the fair value of the amounts derived from the services provided by the company falling within its ordinary activities, 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.
Plant and machinery etc - 10% on reducing balance

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.

COMMERCIAL FLEET RENTALS LIMITED (Registered number: 10268472)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 - 2,436,389 2,436,389
Additions 84,507 780,079 864,586
At 31 July 2023 84,507 3,216,468 3,300,975
DEPRECIATION
At 1 August 2022 - 613,621 613,621
Charge for year - 279,713 279,713
At 31 July 2023 - 893,334 893,334
NET BOOK VALUE
At 31 July 2023 84,507 2,323,134 2,407,641
At 31 July 2022 - 1,822,768 1,822,768

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 229,544 296,110

COMMERCIAL FLEET RENTALS LIMITED (Registered number: 10268472)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 45,055 85,831
Hire purchase contracts 491,159 550,814
Trade creditors (1,642 ) 5,106
Taxation and social security 89,289 (2,539 )
Other creditors 1,802 (605 )
625,663 638,607

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 77,894 122,714
Hire purchase contracts 1,276,041 1,055,028
1,353,935 1,177,742

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 11,214