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REGISTERED NUMBER: 08381864 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Your Local Car Hire Limited

Your Local Car Hire Limited (Registered number: 08381864)

Contents of the Financial Statements
for the year ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Your Local Car Hire Limited

Company Information
for the year ended 31 January 2024







Director: P A White





Registered office: Unit 2
Foley Works
Foley Trading Estate
Hereford
HR1 2SF





Registered number: 08381864 (England and Wales)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Your Local Car Hire Limited (Registered number: 08381864)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - 413
Tangible assets 6 232,201 164,401
232,201 164,814

CURRENT ASSETS
Debtors 7 95,840 76,004
Cash at bank 38,927 2,702
134,767 78,706
CREDITORS
Amounts falling due within one year 8 (108,784 ) (67,223 )
NET CURRENT ASSETS 25,983 11,483
TOTAL ASSETS LESS CURRENT
LIABILITIES

258,184

176,297

CREDITORS
Amounts falling due after more than one
year

9

(80,584

)

(56,187

)

PROVISIONS FOR LIABILITIES (21,454 ) (1,031 )
NET ASSETS 156,146 119,079

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 156,145 119,078
SHAREHOLDERS' FUNDS 156,146 119,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Your Local Car Hire Limited (Registered number: 08381864)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 April 2024 and were signed by:





P A White - Director


Your Local Car Hire Limited (Registered number: 08381864)

Notes to the Financial Statements
for the year ended 31 January 2024


1. STATUTORY INFORMATION

Your Local Car Hire 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Intangible assets
Website costs are being amortised evenly over the estimated useful life of 5 years.

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 - 20% on cost
Motor vehicles - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

Your Local Car Hire Limited (Registered number: 08381864)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
Cost
At 1 February 2023
and 31 January 2024 2,065
Amortisation
At 1 February 2023 1,652
Charge for year 413
At 31 January 2024 2,065
Net book value
At 31 January 2024 -
At 31 January 2023 413

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 February 2023 12,586 220,540 233,126
Additions 1,631 132,214 133,845
Disposals - (34,158 ) (34,158 )
At 31 January 2024 14,217 318,596 332,813
Depreciation
At 1 February 2023 9,445 59,280 68,725
Charge for year 1,403 39,024 40,427
Eliminated on disposal - (8,540 ) (8,540 )
At 31 January 2024 10,848 89,764 100,612
Net book value
At 31 January 2024 3,369 228,832 232,201
At 31 January 2023 3,141 161,260 164,401

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,432 68,096
Other debtors 5,408 7,908
95,840 76,004

Your Local Car Hire Limited (Registered number: 08381864)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 10) 60,559 24,827
Trade creditors 8,704 5,844
Taxation and social security 14,575 20,171
Other creditors 14,946 6,381
108,784 67,223

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,189 24,028
Hire purchase contracts (see note 10) 66,395 32,159
80,584 56,187

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 60,559 24,827
Between one and five years 66,395 32,159
126,954 56,986

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £0.01 1 1