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Registration number: 07534558

RENTACABIN LIMITED

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2023

 

RENTACABIN LIMITED

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 11

 

RENTACABIN LIMITED

Company Information

Director

Mr Charles James Perry

Registered office

59 Union Street
Dunstable
Bedfordshire
LU6 1EX

Accountants

Minney & Company Limited
Chartered Accountants
249 Silbury Boulevard
Milton Keynes
Bucks
MK9 1NA

 

RENTACABIN LIMITED

(Registration number: 07534558)
Abridged Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

971

1,295

Investments

5

7,244,622

7,244,622

 

7,245,593

7,245,917

Current assets

 

Stocks

6

118,820

218,820

Debtors

7

75,656

118,667

Cash at bank and in hand

 

-

7,937

 

194,476

345,424

Creditors: Amounts falling due within one year

(101,852)

(116,740)

Net current assets

 

92,624

228,684

Total assets less current liabilities

 

7,338,217

7,474,601

Creditors: Amounts falling due after more than one year

(7,114,628)

(7,270,573)

Accruals and deferred income

 

(10,956)

(2,998)

Net assets

 

212,633

201,030

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

212,631

201,028

Shareholders' funds

 

212,633

201,030

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

RENTACABIN LIMITED

(Registration number: 07534558)
Abridged Balance Sheet as at 30 April 2023

Approved and authorised by the director on 22 October 2023
 

.........................................
Mr Charles James Perry
Director

 

RENTACABIN LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

1

General information

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

The address of its registered office is:
59 Union Street
Dunstable
Bedfordshire
LU6 1EX
England

The principal place of business is:
Blois Meadow Business Park
Steeple Bumpstead
Haverhill
Suffolk
CB9 7BN

These financial statements were authorised for issue by the director on 22 October 2023.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

RENTACABIN LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

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

25% reducing balance basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

RENTACABIN LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

RENTACABIN LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2022 - 4).

 

RENTACABIN LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

3,465

3,465

At 30 April 2023

3,465

3,465

Depreciation

At 1 May 2022

2,170

2,170

Charge for the year

324

324

At 30 April 2023

2,494

2,494

Carrying amount

At 30 April 2023

971

971

At 30 April 2022

1,295

1,295

5

Investments

Total
£

Cost or valuation

At 1 May 2022

7,244,622

Provision

Carrying amount

At 30 April 2023

7,244,622

At 30 April 2022

7,244,622

2023
£

2022
£

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

RENTACABIN LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

AFL Trucks Limited

59 Union Street, Dunstable, Beds LUB 1EX

England

Ordinary shares

100%

100%

Parker Brothers Group Limited

59 Union Street, Dunstable, Beds LU6 1EX

England

Ordinary shares

100%

100%

Mcleod Cabin Limited

59 Union Street, Dunstable, Beds LUB 1EX

England

Ordinary

100%

100%

Subsidiary undertakings

AFL Trucks Limited

The principal activity of AFL Trucks Limited is Plant hire.

Parker Brothers Group Limited

The principal activity of Parker Brothers Group Limited is Plant Hire.

Mcleod Cabin Limited

The principal activity of Mcleod Cabin Limited is Plant Hire.

6

Stocks

2023
£

2022
£

Other inventories

118,820

218,820

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

RENTACABIN LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £82,500.00 (2022 - £148,000.00) per each Ordinary shares

 

165,000

 

296,000

         

10

Related party transactions

A.F.L Trucks Limited

A company is a wholly owned subsidiary

A balance of £525,436 (2021 - £612,210) at the year end is included in other creditors.



Parker Plant Hire Limited

A company is a wholly owned subsidiary

A balance of £5,483,155 (2022 - £5,313,155) at the year end is included in other creditors.


Mcleod Cabins Limited

A company is a wholly owned subsidiary

A balance of £940,620 (2022 - £888,980) at the year end is included in other creditors.

 

RENTACABIN LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,996

9,996

Loans to related parties

2023

Subsidiary
£

Total
£

At start of period

6,503,756

6,503,756

At end of period

6,503,756

6,503,756

2022

Subsidiary
£

Total
£

At start of period

5,802,810

5,802,810

Advanced

700,946

700,946

At end of period

6,503,756

6,503,756