IJB Rentals Limited 13061406 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is is that of property rentals. Digita Accounts Production Advanced 6.30.9574.0 true true 13061406 2022-04-01 2023-03-31 13061406 2023-03-31 13061406 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 13061406 core:CurrentFinancialInstruments 2023-03-31 13061406 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13061406 core:Non-currentFinancialInstruments 2023-03-31 13061406 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13061406 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 13061406 bus:SmallEntities 2022-04-01 2023-03-31 13061406 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13061406 bus:FullAccounts 2022-04-01 2023-03-31 13061406 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 13061406 bus:RegisteredOffice 2022-04-01 2023-03-31 13061406 bus:Director1 2022-04-01 2023-03-31 13061406 bus:Director2 2022-04-01 2023-03-31 13061406 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-04-01 2023-03-31 13061406 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13061406 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13061406 core:PlantMachinery 2022-04-01 2023-03-31 13061406 countries:AllCountries 2022-04-01 2023-03-31 13061406 2022-03-31 13061406 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 13061406 2020-12-04 2022-03-31 13061406 2022-03-31 13061406 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-03-31 13061406 core:CurrentFinancialInstruments 2022-03-31 13061406 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 13061406 core:Non-currentFinancialInstruments 2022-03-31 13061406 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 13061406 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13061406

IJB Rentals Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

IJB Rentals Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

IJB Rentals Limited

Company Information

Directors

Mr Ian Ball

Mrs Jayne Ball

Registered office

40 Doncaster Road
Westwoodside
Doncaster
South Yorkshire
DN9 2EE

Accountants

Thorntons Accounting Limited
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

IJB Rentals Limited

(Registration number: 13061406)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,375,000

4,161,774

Current assets

 

Debtors

5

139,200

83,294

Cash at bank and in hand

 

337,535

40,037

 

476,735

123,331

Creditors: Amounts falling due within one year

6

(110,749)

(560,946)

Net current assets/(liabilities)

 

365,986

(437,615)

Total assets less current liabilities

 

3,740,986

3,724,159

Creditors: Amounts falling due after more than one year

6

(612,283)

(418,444)

Net assets

 

3,128,703

3,305,715

Capital and reserves

 

Called up share capital

7

2

2

Share premium reserve

3,531,041

3,694,041

Retained earnings

(402,340)

(388,328)

Shareholders' funds

 

3,128,703

3,305,715

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 October 2023 and signed on its behalf by:
 

 

IJB Rentals Limited

(Registration number: 13061406)
Balance Sheet as at 31 March 2023

.........................................
Mr Ian Ball
Director

 

IJB Rentals Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
40 Doncaster Road
Westwoodside
Doncaster
South Yorkshire
DN9 2EE

These financial statements were authorised for issue by the Board on 5 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 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 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.

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.

 

IJB Rentals Limited

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

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

Plant & Machinery

20% on Cost

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.

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.

 

IJB Rentals Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2022

4,161,774

4,161,774

Disposals

(786,774)

(786,774)

At 31 March 2023

3,375,000

3,375,000

Depreciation

Carrying amount

At 31 March 2023

3,375,000

3,375,000

At 31 March 2022

4,161,774

4,161,774

Included within the net book value of land and buildings above is £3,375,000 (2022 - £4,161,774) in respect of freehold land and buildings.
 

5

Debtors

2023
£

2022
£

Other debtors

-

83,294

Accrued income

139,200

-

139,200

83,294

 

IJB Rentals Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

65,595

Taxation and social security

 

23,200

-

Accruals and deferred income

 

7,260

6,480

Other creditors

 

80,289

488,871

 

110,749

560,946

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

612,283

418,444

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

612,283

418,444

2023
£

2022
£

Current loans and borrowings

Other borrowings

-

65,595