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REGISTERED NUMBER: 09975977 (England and Wales)









Financial Statements

for the Year Ended 31 March 2023

for

STA Rentals Limited

STA Rentals Limited (Registered number: 09975977)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


STA Rentals Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs A Levy
Ms S L Davis





REGISTERED OFFICE: Kerry House, Kerry Avenue
Stanmore
London
HA7 4NL





REGISTERED NUMBER: 09975977 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

STA Rentals Limited (Registered number: 09975977)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,465,535 1,469,983

CURRENT ASSETS
Debtors 5 1,012 1,307
Cash at bank and in hand 48,559 83,300
49,571 84,607
CREDITORS
Amounts falling due within one year 6 707,462 448,652
NET CURRENT LIABILITIES (657,891 ) (364,045 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,807,644

1,105,938

CREDITORS
Amounts falling due after more than one
year

7

(1,502,480

)

(943,390

)

PROVISIONS FOR LIABILITIES (54,105 ) (27,904 )
NET ASSETS 251,059 134,644

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 251,057 134,642
SHAREHOLDERS' FUNDS 251,059 134,644

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

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

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 24 November 2023 and were signed on its behalf by:





Ms S L Davis - Director


STA Rentals Limited (Registered number: 09975977)

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

1. STATUTORY INFORMATION

STA 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The financial statements have been prepared on a going concern basis on the assumption that continued support is available from the directors and shareholders as and when required.

3. EMPLOYEES AND DIRECTORS

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

STA Rentals Limited (Registered number: 09975977)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,469,983
Additions 845,265
Revaluations 150,287
At 31 March 2023 2,465,535
NET BOOK VALUE
At 31 March 2023 2,465,535
At 31 March 2022 1,469,983

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 205,670
Valuation in 2023 150,287
Cost 2,109,578
2,465,535

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,109,578 2,109,578

Investment properties were valued on an open market basis on 31 March 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 800 400
Prepayments and accrued income 212 907
1,012 1,307

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts 700,866 441,741
Accruals and deferred income 6,596 6,911
707,462 448,652

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Mortgage 1,502,480 943,390

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage 1,502,480 943,390

STA Rentals Limited (Registered number: 09975977)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 1,502,480 943,390

9. RETAINED EARNINGS

The retained earnings of £251,057 (2022: £134,642) comprise of distributable reserves of £Nil (2022: £Nil) and non-distributable reserves of £251,057 (2022: £134,642) which relate to property revaluations less related deferred tax provision.