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Company Registration No. 13845521 (England and Wales)
FIS Rentals Ltd Unaudited accounts for the year ended 31 January 2024
FIS Rentals Ltd Unaudited accounts Contents
Page
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FIS Rentals Ltd Company Information for the year ended 31 January 2024
Directors
Mr Christopher Philip Fletcher Miss Elizabeth Susan Rickinson
Company Number
13845521 (England and Wales)
Registered Office
358 Scalby Road Scarborough North Yorkshire YO12 6ED England
Accountants
Wright Pottage Limited Europa House 20 Esplanade Scarborough North Yorkshire YO11 2AQ
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FIS Rentals Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
140,000 
130,000 
Current assets
Debtors
122 
849 
Cash at bank and in hand
4,998 
538 
5,120 
1,387 
Creditors: amounts falling due within one year
(55,010)
(55,831)
Net current liabilities
(49,890)
(54,444)
Total assets less current liabilities
90,110 
75,556 
Creditors: amounts falling due after more than one year
(78,749)
(78,749)
Provisions for liabilities
Deferred tax
(2,159)
- 
Net assets/(liabilities)
9,202 
(3,193)
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
20,144 
12,044 
Profit and loss account
(10,944)
(15,239)
Shareholders' funds
9,202 
(3,193)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by
Miss Elizabeth Susan Rickinson Director Company Registration No. 13845521
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FIS Rentals Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
FIS Rentals Ltd is a private company, limited by shares, registered in England and Wales, registration number 13845521. The registered office is 358 Scalby Road, Scarborough, North Yorkshire, YO12 6ED, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
The turnover shown in the profit and loss account represents the total invoice value of rents receivable during the year. Rental income is recognised in the profit and loss account on an accruals basis in the period to which the rents relate
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains.
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FIS Rentals Ltd Notes to the Accounts for the year ended 31 January 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2024 
£ 
Fair value at 1 February 2023
130,000 
Net gain from fair value adjustments
10,000 
At 31 January 2024
140,000 
The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''. The investment properties have been valued by the directors at fair value taking into account existing tenancy arrangements. During the year a increase in the fair value of investment properties of £10,000 has been included directly in the profit and loss account.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Deferred tax asset
749 
Other debtors
122 
100 
122 
849 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
55,010 
55,831 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
78,749 
78,749 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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