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REGISTERED NUMBER: 08368563 (England and Wales)










Advanced Rental Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Advanced Rental Limited (Registered number: 08368563)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Advanced Rental Limited

Company Information
for the year ended 31 January 2024







DIRECTORS: Mr A A Stephenson
Mr N A Watkins
Mrs E W Watkins
Mrs T Stephenson





SECRETARY: Mr N A Watkins





REGISTERED OFFICE: Dyffryn Trading Estate
Rhyl Road
Denbigh
Denbighshire
LL16 5SU





REGISTERED NUMBER: 08368563 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Advanced Rental Limited (Registered number: 08368563)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,033 72,542

CURRENT ASSETS
Stocks 290,947 352,221
Debtors 5 4,010,103 1,092,743
Cash at bank 1,183,148 3,347,328
5,484,198 4,792,292
CREDITORS
Amounts falling due within one year 6 242,920 117,588
NET CURRENT ASSETS 5,241,278 4,674,704
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,244,311

4,747,246

PROVISIONS FOR LIABILITIES 758 18,136
NET ASSETS 5,243,553 4,729,110

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 5,243,433 4,728,990
SHAREHOLDERS' FUNDS 5,243,553 4,729,110

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 30 October 2024 and were signed on its behalf by:





Mr A A Stephenson - Director


Advanced Rental Limited (Registered number: 08368563)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Advanced Rental 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.

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 each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Advanced Rental Limited (Registered number: 08368563)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 282,525
Disposals (269,025 )
At 31 January 2024 13,500
DEPRECIATION
At 1 February 2023 209,983
Charge for year 12,144
Eliminated on disposal (211,660 )
At 31 January 2024 10,467
NET BOOK VALUE
At 31 January 2024 3,033
At 31 January 2023 72,542

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,730 36,352
Amounts owed by participating interests 3,830,253 1,056,271
Other debtors 150,120 120
4,010,103 1,092,743

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 241,920 116,588
Other creditors 1,000 1,000
242,920 117,588

7. RELATED PARTY DISCLOSURES

During the period CVAM Limited, a company which is under common control, paid for expenses totalling £3,829 on behalf of Advanced Rental Limited.

During the year, CVAM Limited hired vehicles from Advanced Rental Limited totalling £268,490 and purchased vehicles totalling £565,676.

The balance outstanding from CVAM Limited at 31st January 2024 was £3,830,254 (2023: £1,056,271).

8. ULTIMATE CONTROLLING PARTY

Ultimate control lies with the directors on the basis that together they own all of the issued share capital in its entirety.