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REGISTERED NUMBER: 09006410 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Rentspace Limited

Rentspace Limited (Registered number: 09006410)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Rentspace Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr Charles David Peat



REGISTERED OFFICE: 3 Riverdale Drive
Sheffield
South Yorkshire
S10 3FY



REGISTERED NUMBER: 09006410 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Lloyds Bank plc
1 High Street
Sheffield
South Yorkshire
S1 2GA



SOLICITORS: Wake Smith LLP
No 1 Velocity
2 Tenter Street
Sheffield
South Yorkshire
S1 4BY

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Rentspace Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rentspace Limited for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Rentspace Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rentspace Limited and state those matters that we have agreed to state to the director of Rentspace Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rentspace Limited and its director for our work or for this report.

It is your duty to ensure that Rentspace Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rentspace Limited. You consider that Rentspace Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rentspace Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


2 October 2024

Rentspace Limited (Registered number: 09006410)

Balance Sheet
30 April 2024

30/4/24 30/4/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 14,052 14,986
Investment property 5 4,000,000 3,811,000
4,014,052 3,825,986

CURRENT ASSETS
Debtors 6 12,637 10,046
Cash at bank and in hand 47,572 12,602
60,209 22,648
CREDITORS
Amounts falling due within one year 7 (944,840 ) (904,949 )
NET CURRENT LIABILITIES (884,631 ) (882,301 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,129,421 2,943,685

CREDITORS
Amounts falling due after more than one
year

8

(1,248,326

)

(1,296,333

)

PROVISIONS FOR LIABILITIES (371,495 ) (325,063 )
NET ASSETS 1,509,600 1,322,289

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,509,500 1,322,189
1,509,600 1,322,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Rentspace Limited (Registered number: 09006410)

Balance Sheet - continued
30 April 2024


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 27 September 2024 and were signed by:





Mr Charles David Peat - Director


Rentspace Limited (Registered number: 09006410)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Rentspace 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 balance sheet date.


Rentspace Limited (Registered number: 09006410)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern
The accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 500 2,865 13,725 17,090
Additions 2,350 1,053 - 3,403
At 30 April 2024 2,850 3,918 13,725 20,493
DEPRECIATION
At 1 May 2023 10 1,808 286 2,104
Charge for year 223 683 3,431 4,337
At 30 April 2024 233 2,491 3,717 6,441
NET BOOK VALUE
At 30 April 2024 2,617 1,427 10,008 14,052
At 30 April 2023 490 1,057 13,439 14,986

Rentspace Limited (Registered number: 09006410)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 13,725
DEPRECIATION
At 1 May 2023 286
Charge for year 3,431
At 30 April 2024 3,717
NET BOOK VALUE
At 30 April 2024 10,008
At 30 April 2023 13,439

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 3,811,000
Revaluations 189,000
At 30 April 2024 4,000,000
NET BOOK VALUE
At 30 April 2024 4,000,000
At 30 April 2023 3,811,000

The investment property class of fixed assets was revalued on 30 April 2024 by Mr C Peat, who is internal to the company. The basis of this valuation was open market value. This class of assets has current value of £4,000,000 (2023 - £3,811,000) and a carrying amount at historical cost of £2,453,913 (2023 - £2,453,913). The depreciation on the historical cost is £nil (2023 - £nil).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 11,662 7,024
Other debtors 975 3,022
12,637 10,046

Rentspace Limited (Registered number: 09006410)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans and overdrafts 36,300 31,146
Hire purchase contracts 3,542 3,046
Trade creditors 6,290 5,751
Taxation and social security 52,974 37,075
Other creditors 845,734 827,931
944,840 904,949

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans 1,244,258 1,288,379
Hire purchase contracts 4,068 7,954
1,248,326 1,296,333

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 2 installments more than 5 years - 1,169,592

9. SECURED DEBTS

The following secured debts are included within creditors:

30/4/24 30/4/23
£    £   
Bank loans 1,280,558 1,319,525