Crystal Vehicle Rental Services Limited 09443985 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is renting and leasing of cars and light motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 09443985 2023-03-01 2024-02-29 09443985 2024-02-29 09443985 core:CurrentFinancialInstruments 2024-02-29 09443985 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09443985 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 09443985 core:OtherPropertyPlantEquipment 2024-02-29 09443985 bus:SmallEntities 2023-03-01 2024-02-29 09443985 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09443985 bus:FilletedAccounts 2023-03-01 2024-02-29 09443985 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09443985 bus:RegisteredOffice 2023-03-01 2024-02-29 09443985 bus:Director1 2023-03-01 2024-02-29 09443985 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09443985 core:PlantMachinery 2023-03-01 2024-02-29 09443985 countries:EnglandWales 2023-03-01 2024-02-29 09443985 2023-02-28 09443985 core:OtherPropertyPlantEquipment 2023-02-28 09443985 2022-03-01 2023-02-28 09443985 2023-02-28 09443985 core:CurrentFinancialInstruments 2023-02-28 09443985 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09443985 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 09443985

Crystal Vehicle Rental Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Crystal Vehicle Rental Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Crystal Vehicle Rental Services Limited

(Registration number: 09443985)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

48,070

54,070

Debtors

6

47,049

49,471

Cash at bank and in hand

 

10,594

7,503

 

105,713

111,044

Creditors: Amounts falling due within one year

7

(61,920)

(50,217)

Total assets less current liabilities

 

43,793

60,827

Creditors: Amounts falling due after more than one year

7

(41,371)

(55,342)

Net assets

 

2,422

5,485

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,322

5,385

Shareholders' funds

 

2,422

5,485

 

Crystal Vehicle Rental Services Limited

(Registration number: 09443985)
Balance Sheet as at 29 February 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

.........................................
Mr QA Jameel
Director

 

Crystal Vehicle Rental Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
27 Rawson Street
Farnworth
Bolton
BL4 7RJ
United Kingdom

These financial statements were authorised for issue by the Board on 23 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements were prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Crystal Vehicle Rental Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing balance method

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Crystal Vehicle Rental Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Plant & Machinery
£

Total
£

Cost or valuation

At 1 March 2023

4,500

4,500

At 29 February 2024

4,500

4,500

Depreciation

At 1 March 2023

4,500

4,500

At 29 February 2024

4,500

4,500

Carrying amount

At 29 February 2024

-

-

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

48,070

54,070

6

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

26,169

37,169

Other debtors

 

20,880

12,302

 

47,049

49,471

Current

Note

2024
£

2023
£

Amounts owed by related parties

26,169

37,169

Other debtors

 

20,880

12,302

   

47,049

49,471

 

Crystal Vehicle Rental Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,310

6,649

Trade creditors

 

31,185

28,933

Taxation and social security

 

18,605

13,035

Accruals and deferred income

 

1,600

1,600

Other creditors

 

220

-

 

61,920

50,217