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REGISTERED NUMBER: 07646346 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Tulip Rentals Limited

Tulip Rentals Limited (Registered number: 07646346)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

Tulip Rentals Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: G D Moss
Mrs M Moss





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 07646346 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Tulip Rentals Limited (Registered number: 07646346)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,128 1,504
Investment property 5 720,000 720,000
721,128 721,504

CURRENT ASSETS
Cash at bank 350,997 393,526

CREDITORS
Amounts falling due within one year 6 668,892 722,500
NET CURRENT LIABILITIES (317,895 ) (328,974 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,233

392,530

PROVISIONS FOR LIABILITIES 32,842 32,842
NET ASSETS 370,391 359,688

CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 135,427 135,427
Retained earnings 234,864 224,161
SHAREHOLDERS' FUNDS 370,391 359,688

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Tulip Rentals Limited (Registered number: 07646346)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





Mrs M Moss - Director


Tulip Rentals Limited (Registered number: 07646346)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Tulip Rentals 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.

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 represents property rental income, to customers, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 9,284 714 9,998
DEPRECIATION
At 1 June 2023 7,820 674 8,494
Charge for year 366 10 376
At 31 May 2024 8,186 684 8,870
NET BOOK VALUE
At 31 May 2024 1,098 30 1,128
At 31 May 2023 1,464 40 1,504

Tulip Rentals Limited (Registered number: 07646346)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 720,000
NET BOOK VALUE
At 31 May 2024 720,000
At 31 May 2023 720,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 168,269
Cost 551,731
720,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 3,772 32,456
Other creditors 665,120 690,044
668,892 722,500

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Fair
value
reserve
£   
At 1 June 2023
and 31 May 2024 135,427

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tulip Rentals Limited

The following reproduces the text of the report prepared for the directors 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 Report of the Directors 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 Tulip Rentals Limited for the year ended 31 May 2024 which comprise the Income Statement, 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 Board of Directors of Tulip Rentals Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tulip Rentals Limited and state those matters that we have agreed to state to the Board of Directors of Tulip Rentals Limited, as a body, 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 Tulip Rentals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tulip Rentals 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 Tulip Rentals Limited. You consider that Tulip Rentals 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 Tulip Rentals 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.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


9 October 2024