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REGISTERED NUMBER: 03401871 (England and Wales)













Unaudited Financial Statements

for the Year Ended 28th February 2023

for

Allied Vehicle Rentals Limited

Allied Vehicle Rentals Limited (Registered number: 03401871)






Contents of the Financial Statements
for the Year Ended 28th February 2023




Page

Company information 1

Abridged balance sheet 2

Notes to the financial statements 4


Allied Vehicle Rentals Limited

Company Information
for the Year Ended 28th February 2023







Director: P I Morrish





Registered office: Perth House
Wash Road
Hutton
Brentwood
CM13 1TA





Registered number: 03401871 (England and Wales)





Accountants: Cooper Paul
Abacus House
14-18 Forest Road
Loughton
Essex
IG10 1DX

Allied Vehicle Rentals Limited (Registered number: 03401871)

Abridged Balance Sheet
28th February 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 4 739,502 600,564

Current assets
Stocks 18,439 16,939
Debtors 208,776 165,378
Cash at bank - 500
227,215 182,817
Creditors
Amounts falling due within one year (571,688 ) (506,967 )
Net current liabilities (344,473 ) (324,150 )
Total assets less current liabilities 395,029 276,414

Creditors
Amounts falling due after more than one
year

(394,811

)

(335,743

)
Net assets/(liabilities) 218 (59,329 )

Capital and reserves
Called up share capital 20,000 1,000
Retained earnings (19,782 ) (60,329 )
Shareholders' funds 218 (59,329 )

Allied Vehicle Rentals Limited (Registered number: 03401871)

Abridged Balance Sheet - continued
28th February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

All the members have consented to the preparation of an abridged Statement of income and retained earnings and an abridged Balance sheet for the year ended 28th February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 15th November 2023 and were signed by:





P I Morrish - Director


Allied Vehicle Rentals Limited (Registered number: 03401871)

Notes to the Financial Statements
for the Year Ended 28th February 2023

1. Statutory information

Allied 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.

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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% 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.

Allied Vehicle Rentals Limited (Registered number: 03401871)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The accounts have been prepared on a going concern basis despite the deficiency disclosed in the balance sheet, and in anticipation of the continued financial support of the company's creditors.

3. Employees and directors

The average number of employees during the year was 7 (2022 - 7 ) .

4. Tangible fixed assets
Totals
£   
Cost
At 1st March 2022 1,603,600
Additions 323,462
Disposals (70,452 )
At 28th February 2023 1,856,610
Depreciation
At 1st March 2022 1,003,036
Charge for year 164,928
Eliminated on disposal (50,856 )
At 28th February 2023 1,117,108
Net book value
At 28th February 2023 739,502
At 28th February 2022 600,564

Allied Vehicle Rentals Limited (Registered number: 03401871)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
Cost
At 1st March 2022 1,533,275
Additions 320,477
Disposals (70,452 )
At 28th February 2023 1,783,300
Depreciation
At 1st March 2022 938,877
Charge for year 159,965
Eliminated on disposal (50,856 )
At 28th February 2023 1,047,986
Net book value
At 28th February 2023 735,314
At 28th February 2022 594,398

5. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 178,223 109,824
Between one and five years 239,501 105,333
417,724 215,157

Non-cancellable operating leases
2023 2022
£    £   
Within one year 93,768 96,967
Between one and five years 342,319 374,500
In more than five years 19,315 91,315
455,402 562,782

Allied Vehicle Rentals Limited (Registered number: 03401871)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

6. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 417,724 215,157