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Company No: 12613241 (England and Wales)

CITY RENTING LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

CITY RENTING LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

CITY RENTING LTD

COMPANY INFORMATION

For the financial year ended 29 February 2024
CITY RENTING LTD

COMPANY INFORMATION (continued)

For the financial year ended 29 February 2024
DIRECTOR Nicholas Read
REGISTERED OFFICE First Floor Offices
12-18 Market Street
York
YO1 8ST
England
United Kingdom
COMPANY NUMBER 12613241 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
CITY RENTING LTD

BALANCE SHEET

As at 29 February 2024
CITY RENTING LTD

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 731,333 294,479
731,333 294,479
Current assets
Debtors 4 2,899 35,244
Cash at bank and in hand 5 0 333
2,899 35,577
Creditors: amounts falling due within one year 6 ( 232,138) ( 125,397)
Net current liabilities (229,239) (89,820)
Total assets less current liabilities 502,094 204,659
Creditors: amounts falling due after more than one year 7 ( 510,573) ( 209,982)
Net liabilities ( 8,479) ( 5,323)
Capital and reserves
Called-up share capital 8 1,000 1,000
Profit and loss account ( 9,479 ) ( 6,323 )
Total shareholder's deficit ( 8,479) ( 5,323)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of City Renting Ltd (registered number: 12613241) were approved and authorised for issue by the Director on 23 September 2024. They were signed on its behalf by:

Nicholas Read
Director
CITY RENTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
CITY RENTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

City Renting Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor Offices, 12-18 Market Street, York, YO1 8ST, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Investment property Total
£ £
Cost
At 01 March 2023 294,479 294,479
Additions 436,854 436,854
At 29 February 2024 731,333 731,333
Accumulated depreciation
At 01 March 2023 0 0
At 29 February 2024 0 0
Net book value
At 29 February 2024 731,333 731,333
At 28 February 2023 294,479 294,479

4. Debtors

2024 2023
£ £
Trade debtors 2,145 0
Other debtors 754 35,244
2,899 35,244

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 0 333
Less: Bank overdrafts ( 6,755) 0
(6,755) 333

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 6,755 0
Trade creditors 7,711 3,928
Other creditors 217,672 121,469
232,138 125,397

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 510,573 209,982

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000