Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07102871 2023-01-01 2023-12-31 07102871 2022-01-01 2022-12-31 07102871 2023-12-31 07102871 2022-12-31 07102871 2022-01-01 07102871 c:Director1 2023-01-01 2023-12-31 07102871 d:FreeholdInvestmentProperty 2023-12-31 07102871 d:FreeholdInvestmentProperty 2022-12-31 07102871 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 07102871 d:FreeholdInvestmentProperty 3 2023-01-01 2023-12-31 07102871 d:CurrentFinancialInstruments 2023-12-31 07102871 d:CurrentFinancialInstruments 2022-12-31 07102871 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07102871 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07102871 d:ShareCapital 2023-12-31 07102871 d:ShareCapital 2022-12-31 07102871 d:RetainedEarningsAccumulatedLosses 2023-12-31 07102871 d:RetainedEarningsAccumulatedLosses 2022-12-31 07102871 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07102871 c:OrdinaryShareClass1 2023-12-31 07102871 c:OrdinaryShareClass1 2022-12-31 07102871 c:OrdinaryShareClass2 2023-01-01 2023-12-31 07102871 c:OrdinaryShareClass2 2023-12-31 07102871 c:OrdinaryShareClass2 2022-12-31 07102871 c:FRS102 2023-01-01 2023-12-31 07102871 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07102871 c:FullAccounts 2023-01-01 2023-12-31 07102871 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07102871 d:OtherDeferredTax 2023-12-31 07102871 d:OtherDeferredTax 2022-12-31 07102871 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07102871









PAUL ROSE RENTALS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PAUL ROSE RENTALS LIMITED
REGISTERED NUMBER: 07102871

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
 2019
Note
£
£

Fixed assets
  

Investment property
 4 
-
655,500

Current assets
  

Debtors: amounts falling due within one year
 5 
465
23

Current asset investments
 6 
561,240
-

Cash at bank
  
11,924
18,003

Current liabilities
  
573,629
18,026

Creditors: amounts falling due within one year
 7 
(249,455)
(260,907)

Net current assets/(liabilities)
  
 
 
324,174
 
 
(242,881)

Total assets less current liabilities
  
324,174
412,619

Provisions for liabilities
  

Deferred tax
 8 
(34,191)
(57,756)

Net assets
  
289,983
354,863


Capital and reserves
  

Called up share capital 
 9 
200
200

Profit and loss account
  
289,783
354,663

  
289,983
354,863


Page 1

 
PAUL ROSE RENTALS LIMITED
REGISTERED NUMBER: 07102871

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Mr O D Jackson
Director

Date: 16 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PAUL ROSE RENTALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Paul Rose Rentals Limited is a private Company limited by shares, incorporated in England and Wales, within the United Kingdom. The address of the registered office is 6 High Street, Ely, Cambridgeshire, CB7 4JU. The Company is not part of a group.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company sold its property soon after the year end and the intention is to wind the Company up during 2024 . Consequently, at the balance sheet date, it is not regarded to be a going concern and the financial statements have been prepared on a break-up basis. Accordingly all assets have been written down to their net realisable values and provision has been made for all known liabilities.

 
2.3

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PAUL ROSE RENTALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 corporation 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.6

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.

 
2.7

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.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
PAUL ROSE RENTALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

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


4.


Investment property


Freehold investment property

£





At 1 January 2023
655,500


Deficit on revaluation
(94,260)


Reclassification of asset to current investment
(561,240)



At 31 December 2023
-

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





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
292,500
292,500


5.


Debtors

2023
2022
£
£


Prepayments
465
23



6.


Current asset investments

2023
2022
£
£

Investment property
561,240
-


Page 5

 
PAUL ROSE RENTALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,788
2,238

Other creditors
244,787
256,789

Accruals
2,880
1,880

249,455
260,907



8.


Deferred taxation




2023
2022


£

£






At beginning of year
(57,756)
(48,455)


Charged to profit or loss
23,565
(9,301)



At end of year
(34,191)
(57,756)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment property
(34,191)
(57,756)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary A shares of £1.00 each
100
100
100 (2022 - 100) Ordinary B shares of £1.00 each
100
100

200

200



10.


Related party transactions

During the year the Company operated a loan with the directors of the Company. The amount payable to the directors of the Company at the year end was £244,788 (2022 - £256,788). This loan is interest free and repayable on demand.


Page 6