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REGISTERED NUMBER: 04877174 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 October 2023

for

U.S. Rent A Car Limited

U.S. Rent A Car Limited (Registered number: 04877174)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


U.S. Rent A Car Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: G J Boswell





SECRETARY: G J Boswell





REGISTERED OFFICE: 1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY





REGISTERED NUMBER: 04877174 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

U.S. Rent A Car Limited (Registered number: 04877174)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,008 3,341

CURRENT ASSETS
Stocks 5 208,347 887,590
Debtors 6 2,450,731 573,533
Cash at bank and in hand 1,311,215 855,400
3,970,293 2,316,523
CREDITORS
Amounts falling due within one year 7 (1,871,961 ) (274,266 )
NET CURRENT ASSETS 2,098,332 2,042,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,102,340

2,045,598

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 2,102,040 2,045,298
SHAREHOLDERS' FUNDS 2,102,340 2,045,598

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

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





G J Boswell - Director


U.S. Rent A Car Limited (Registered number: 04877174)

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


1. STATUTORY INFORMATION

U.S. Rent A Car 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.

Turnover
Turnover represents commission receivable from the sale of car hire and ancillary services.

U.S. Rent A Car Limited acts as an intermediary between its customers and the ultimate sellers of car hire services. Commission is recognised at the point of car hire by the customer.

Where payments are received from customers in advance of travel, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Domain name and website - 33.33% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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 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.

U.S. Rent A Car Limited (Registered number: 04877174)

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


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the end of each quarter after the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

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 the Income Statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Domain Fixtures
name and and Motor
website fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 22,950 25,563 12,500 61,013
Additions - 3,469 - 3,469
At 31 October 2023 22,950 29,032 12,500 64,482
DEPRECIATION
At 1 November 2022 22,949 22,224 12,499 57,672
Charge for year - 2,802 - 2,802
At 31 October 2023 22,949 25,026 12,499 60,474
NET BOOK VALUE
At 31 October 2023 1 4,006 1 4,008
At 31 October 2022 1 3,339 1 3,341

5. STOCKS
2023 2022
£    £   
Stock 208,347 887,590

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 508,262 508,425
VAT 2,574 3,258
Deferred tax asset 341 577
Prepayments 1,939,554 61,273
2,450,731 573,533

U.S. Rent A Car Limited (Registered number: 04877174)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 8,638 -
Social security and other taxes 3 -
Other creditors 1,076 136
Deferred income 1,857,924 269,377
Accruals 4,320 4,753
1,871,961 274,266

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 5,646 4,560