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REGISTERED NUMBER: 01460968 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2024

for

J. T. Rentals Limited

J. T. Rentals Limited (Registered number: 01460968)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J. T. Rentals Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P J Tibbetts
Mrs P V Tibbetts





SECRETARY: Mrs P V Tibbetts





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 01460968 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

J. T. Rentals Limited (Registered number: 01460968)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 886,317 886,753

CURRENT ASSETS
Cash at bank 16,292 24,905

CREDITORS
Amounts falling due within one year 5 27,936 25,894
NET CURRENT LIABILITIES (11,644 ) (989 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

874,673

885,764

PROVISIONS FOR LIABILITIES 146,000 135,000
NET ASSETS 728,673 750,764

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Revaluation reserve 6 436,885 538,339
Retained earnings 289,788 210,425
SHAREHOLDERS' FUNDS 728,673 750,764

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 25 September 2024 and were signed on its behalf by:





Mrs P V Tibbetts - Director


J. T. Rentals Limited (Registered number: 01460968)

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

1. STATUTORY INFORMATION

J. T. 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 rents received and receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - No depreciation on investment property
Fixtures and fittings - 25% on reducing balance

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.

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.

Investment properties
ln accordance with the requirements of the Financial Reporting Standard for Smaller Entities (effective January 2015), land and buildings are not depreciated because they are considered to be investment properties.

3. EMPLOYEES AND DIRECTORS

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

J. T. Rentals Limited (Registered number: 01460968)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 885,000 25,246 910,246
DEPRECIATION
At 1 April 2023 - 23,493 23,493
Charge for year - 436 436
At 31 March 2024 - 23,929 23,929
NET BOOK VALUE
At 31 March 2024 885,000 1,317 886,317
At 31 March 2023 885,000 1,753 886,753

Land and buildings are let under operating leases.

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2015 582,885 - 582,885
Cost 302,115 25,246 327,361
885,000 25,246 910,246

Land and buildings were valued on open market basis on 7 April 2015 by Andrew Taplin Chartered Surveyors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 8,716 7,370
Other creditors 19,220 18,524
27,936 25,894

6. RESERVES
Revaluation
reserve
£   
At 1 April 2023 538,339
Transfer (101,454 )

At 31 March 2024 436,885

7. RELATED PARTY DISCLOSURES

The amount due to directors at 31 March 2024 was £3,744 (2023 £3,744).