Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30false22022-12-01No description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11085424 2022-12-01 2023-11-30 11085424 2021-12-01 2022-11-30 11085424 2023-11-30 11085424 2022-11-30 11085424 c:Director1 2022-12-01 2023-11-30 11085424 d:FreeholdInvestmentProperty 2022-12-01 2023-11-30 11085424 d:FreeholdInvestmentProperty 2023-11-30 11085424 d:FreeholdInvestmentProperty 2022-11-30 11085424 d:CurrentFinancialInstruments 2023-11-30 11085424 d:CurrentFinancialInstruments 2022-11-30 11085424 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11085424 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11085424 d:ShareCapital 2023-11-30 11085424 d:ShareCapital 2022-11-30 11085424 d:RevaluationReserve 2023-11-30 11085424 d:RevaluationReserve 2022-11-30 11085424 d:RetainedEarningsAccumulatedLosses 2023-11-30 11085424 d:RetainedEarningsAccumulatedLosses 2022-11-30 11085424 c:FRS102 2022-12-01 2023-11-30 11085424 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11085424 c:FullAccounts 2022-12-01 2023-11-30 11085424 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11085424 2 2022-12-01 2023-11-30 11085424 6 2022-12-01 2023-11-30 11085424 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 11085424









D&A RENTALS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
D&A RENTALS LIMITED
REGISTERED NUMBER: 11085424

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investments
 4 
100
100

Investment properties
  
4,613,352
4,380,000

Current assets
  

Debtors: amounts falling due within one year
 6 
874,322
836,937

Cash at bank and in hand
  
24,590
51,750

  
898,912
888,687

Creditors: amounts falling due within one year
 7 
(3,901,031)
(3,744,599)

Net current liabilities
  
 
 
(3,002,119)
 
 
(2,855,912)

Net assets
  
1,611,333
1,524,188


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
1,269,520
1,269,520

Profit and loss account
  
341,713
254,568

  
1,611,333
1,524,188


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
D&A RENTALS LIMITED
REGISTERED NUMBER: 11085424
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 June 2024.


D Pearson
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
D&A RENTALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

D&A Rentals Limited ("the Company") is a private Company limited by shares and incorporated in England and Wales. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental income
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

 
2.3

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in the Statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
D&A RENTALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
D&A RENTALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 5

 
D&A RENTALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2022
100



At 30 November 2023
100





5.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022
4,380,000


Additions at cost
233,352



At 30 November 2023
4,613,352

The 2023 valuations were made by the directors, on an open market value for existing use basis.





Page 6

 
D&A RENTALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
6,826
5,361

Amounts owed by connected entities
867,496
831,576

874,322
836,937



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
9,999
1,274

Corporation tax
25,807
25,800

Other creditors
3,857,726
3,710,026

Accruals and deferred income
7,499
7,499

3,901,031
3,744,599



8.


Related party transactions

Key management personnel
At the year end the company owed the directors £1,682,300 (2022 - £1,762,300).
Other
During the year, the company engaged in transactions with an entity over which it has control. All transactions were undertaken at market value.
At the year end, this entity owed the company £792,896 (
2022 - £792,896).
At the end of the year the company owed the shareholders £25,000 (
2022 - £25,000).

 
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