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Registered number: 11191362
Rent a Room (National) Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11191362
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,395 1,743
Investments 5 106,497 106,497
107,892 108,240
CURRENT ASSETS
Debtors 6 223,201 159,193
Cash at bank and in hand 68,030 56,088
291,231 215,281
Creditors: Amounts Falling Due Within One Year 7 (573,250 ) (430,323 )
NET CURRENT ASSETS (LIABILITIES) (282,019 ) (215,042 )
TOTAL ASSETS LESS CURRENT LIABILITIES (174,127 ) (106,802 )
Creditors: Amounts Falling Due After More Than One Year 8 (256,825 ) (256,857 )
NET LIABILITIES (430,952 ) (363,659 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (431,052 ) (363,759 )
SHAREHOLDERS' FUNDS (430,952) (363,659)
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Russell Dyble
Director
18/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rent a Room (National) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11191362 . The registered office is 23-25 Hollybush House Bond Gate, Nuneaton, Warwickshire, CV11 4AR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% straight line basis
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 11)
12 11
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 3,033
As at 29 February 2024 3,033
Depreciation
As at 1 March 2023 1,290
Provided during the period 348
As at 29 February 2024 1,638
Net Book Value
As at 29 February 2024 1,395
As at 1 March 2023 1,743
5. Investments
Unlisted
£
Cost
As at 1 March 2023 106,497
As at 29 February 2024 106,497
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 106,497
As at 1 March 2023 106,497
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 223,201 159,193
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 82,638 32,843
Other creditors 335,161 252,494
Directors' loan accounts 87,173 86,208
Amounts owed to group undertakings 65,750 56,250
Amounts owed to related parties 2,528 2,528
573,250 430,323
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 41,825 41,857
Other creditors 215,000 215,000
256,825 256,857
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
50 Ordinary A shares of £ 1.000 each 50 50
50 Ordinary B shares of £ 1.000 each 50 50
100 100
10. Related Party Transactions
During the year, an amount for £2,528 (2023: £2,528) was owed to Central Sourcing Limited. The director Miss Lucy Reah is also a director and shareholder in Central Sourcing Limited.
Another amount of £65,750 (2023: £56,250) was owed to Homeleigh Limited. Both directors are also directors of this company and Rent a Room (National) Limited is the sole shareholder in Homeleigh Limited.
A further amount of £27,000 (2023: -£9,000) was owed to Proudlove Property Limited. Both directors are also directors and shareholders in Proudlove Property Limited.
11. Ultimate Controlling Party
There is no ultimate controllng party due to the shares being held in equal proportions.
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