REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
Tulip Rentals Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
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 |
Disposals | ( |
) |
Revaluations | (17,028 | ) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
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 |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.23 | 31.5.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 June 2022 |
Realised gain on sale of asset | (156,383 | ) |
Deferred tax transfer | 15,025 |
At 31 May 2023 |
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. |
Chartered Accountants |
Lakeview House |
4 Woodbrook Crescent |
Billericay |
Essex |
CM12 0EQ |
Date: ............................................. |