IRIS Accounts Production v23.3.0.418 07646346 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure076463462022-05-31076463462023-05-31076463462022-06-012023-05-31076463462021-05-31076463462021-06-012022-05-31076463462022-05-3107646346ns16:EnglandWales2022-06-012023-05-3107646346ns15:PoundSterling2022-06-012023-05-3107646346ns11:Director12022-06-012023-05-3107646346ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3107646346ns11:SmallEntities2022-06-012023-05-3107646346ns11:AuditExemptWithAccountantsReport2022-06-012023-05-3107646346ns11:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3107646346ns11:SmallCompaniesRegimeForAccounts2022-06-012023-05-3107646346ns11:FullAccounts2022-06-012023-05-3107646346ns11:OrdinaryShareClass12022-06-012023-05-3107646346ns11:Director22022-06-012023-05-3107646346ns11:RegisteredOffice2022-06-012023-05-3107646346ns6:CurrentFinancialInstruments2023-05-3107646346ns6:CurrentFinancialInstruments2022-05-3107646346ns6:ShareCapital2023-05-3107646346ns6:ShareCapital2022-05-3107646346ns6:FurtherSpecificReserve3ComponentTotalEquity2023-05-3107646346ns6:FurtherSpecificReserve3ComponentTotalEquity2022-05-3107646346ns6:RetainedEarningsAccumulatedLosses2023-05-3107646346ns6:RetainedEarningsAccumulatedLosses2022-05-3107646346ns6:FurnitureFittings2022-06-012023-05-3107646346ns6:ComputerEquipment2022-06-012023-05-3107646346ns6:FurnitureFittings2022-05-3107646346ns6:ComputerEquipment2022-05-3107646346ns6:FurnitureFittings2023-05-3107646346ns6:ComputerEquipment2023-05-3107646346ns6:FurnitureFittings2022-05-3107646346ns6:ComputerEquipment2022-05-3107646346ns11:OrdinaryShareClass12023-05-3107646346ns6:FurtherSpecificReserve3ComponentTotalEquity2022-05-31
REGISTERED NUMBER: 07646346 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Tulip Rentals Limited

Tulip Rentals Limited (Registered number: 07646346)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

Tulip Rentals Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: G D Moss
Mrs M Moss





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 07646346 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Tulip Rentals Limited (Registered number: 07646346)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,504 2,009
Investment property 5 720,000 1,087,028
721,504 1,089,037

CURRENT ASSETS
Cash at bank 393,526 35,325

CREDITORS
Amounts falling due within one year 6 722,500 723,540
NET CURRENT LIABILITIES (328,974 ) (688,215 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,530

400,822

PROVISIONS FOR LIABILITIES 32,842 47,867
NET ASSETS 359,688 352,955

CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 135,427 276,785
Retained earnings 224,161 76,070
SHAREHOLDERS' FUNDS 359,688 352,955

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Tulip Rentals Limited (Registered number: 07646346)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





Mrs M Moss - Director


Tulip Rentals Limited (Registered number: 07646346)

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

1. STATUTORY INFORMATION

Tulip 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 as modified by the revaluation of certain assets.

At the balance sheet date the Covid-19 pandemic and subsequent lockdown had occurred. Despite the directors being unable to fully quantify the financial effect of the pandemic they believe the reserves of the company plus support payments from the government are sufficient for these accounts to be prepared using the going concern basis.

Turnover
Turnover represents property rental income, to customers, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 9,284 714 9,998
DEPRECIATION
At 1 June 2022 7,329 660 7,989
Charge for year 491 14 505
At 31 May 2023 7,820 674 8,494
NET BOOK VALUE
At 31 May 2023 1,464 40 1,504
At 31 May 2022 1,955 54 2,009

Tulip Rentals Limited (Registered number: 07646346)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,087,028
Disposals (350,000 )
Revaluations (17,028 )
At 31 May 2023 720,000
NET BOOK VALUE
At 31 May 2023 720,000
At 31 May 2022 1,087,028

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2022 168,269
Cost 551,731
720,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Taxation and social security 32,456 4,427
Other creditors 690,044 719,113
722,500 723,540

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Fair
value
reserve
£   
At 1 June 2022 276,785
Realised gain on sale of asset (156,383 )
Deferred tax transfer 15,025

At 31 May 2023 135,427

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tulip Rentals Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tulip Rentals Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Tulip Rentals Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tulip Rentals Limited and state those matters that we have agreed to state to the Board of Directors of Tulip Rentals Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tulip Rentals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tulip Rentals Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tulip Rentals Limited. You consider that Tulip Rentals Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tulip Rentals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


Date: .............................................