Registered number
01247080
R & M RENTALS LIMITED
Filleted Accounts
30 June 2024
R & M RENTALS LIMITED
Registered number: 01247080
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,086,103 2,907,968
Current assets
Stocks 8,962 9,115
Debtors 4 1,623,676 1,498,172
Cash at bank and in hand 604,962 644,113
2,237,600 2,151,400
Creditors: amounts falling due within one year 5 (296,227) (293,718)
Net current assets 1,941,373 1,857,682
Total assets less current liabilities 5,027,476 4,765,650
Provisions for liabilities (350,548) (308,938)
Net assets 4,676,928 4,456,712
Capital and reserves
Called up share capital 100 100
Non Distributable reserve 7 1,420,536 1,243,146
Profit and loss account 8 3,256,292 3,213,466
Shareholders' funds 4,676,928 4,456,712
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Martin J Pratt
Director
Approved by the board on 2 December 2024
R & M RENTALS LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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, from the rendering of services and rental income from the invetsments properties. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Rental Assets 20% straight line
Fixtures & Fittings 10% straight line
House Furnishings 10% straight line
Depreciation at 1% straight line is provided against the freehold property used in trade.
No Depreciation is provided on the Investment Properties as these are stated at previous year net book value at the end of the year and are not revalued during the year.
Rental assets more than seven years old are treated as disposed off.
Investments
Investment properties are measured at previous year fair value. No Changes in fair value has been included in the profit and loss account and then transferred to the Non Distributable Reserve after adjusting deferred tax provision as required under FRS 102 as property has not been revalued during the year.
Stocks
Stock is valued at the lower of cost and net realisable value. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 2,826,096 758,013 99,024 3,683,133
Additions - 38,393 - 38,393
Surplus on revaluation 219,000 - - 219,000
Disposals - (135,747) (24,781) (160,528)
At 30 June 2024 3,045,096 660,659 74,243 3,779,998
Depreciation
At 1 July 2023 79,430 650,632 45,103 775,165
Charge for the year 2,648 48,671 13,483 64,802
On disposals - (135,747) (10,325) (146,072)
At 30 June 2024 82,078 563,556 48,261 693,895
Net book value
At 30 June 2024 2,963,018 97,103 25,982 3,086,103
At 30 June 2023 2,746,666 107,381 53,921 2,907,968
Land & Buildings include Investment Properties with a historical cost of £927,918 (2023 - £927,918) which were revalued by the directors on 30th June 2024 at an open market value of £2,699,000 (2023 - £2,480,000).

Land & Buildings include Freehold Property valued at the historical cost of £346,096 (2023 - £346,096) which is being depreciated at 1% per annum on its original cost resulting in a net book value of £264,755.
4 Debtors 2024 2023
£ £
Trade debtors 1,604 10,771
Other debtors 1,622,072 1,487,401
1,623,676 1,498,172
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 13,021 24,819
Taxation and social security costs 43,850 34,328
Other creditors 239,356 234,571
296,227 293,718
6 Share capital 2024 2023 2024 2023
Number Number £ £
Allotted, called up and fully paid:
Ordinary shares of £1 each 100 100 100 100
7 Non Distributable Reserve 2024 2023
£ £
At 1 July 2023 1,243,146 1,299,763
Transfer from Profit and loss account 177,390 (56,617)
At 30 June 2024 1,420,536 1,243,146
8 Profit and loss account 2024 2023
£ £
At 1 July 2023 3,213,466 3,137,248
Profit for the year 220,216 19,601
Transfer to / (from) Non Distributable Reserve (177,390) 56,617
At 30 June 2024 3,256,292 3,213,466
9 Transactions with directors
During the year, the directors' emoluments amounted to £169,200 [2023 - £167,820] and pension costs of £40,000 [2023 - £40,000]. At the balance sheet date the company owed the directors £70,581 [2023 - £64,729]. Interest of £5,228 [2023 - £4,795] was accrued on the outstanding loan account at the year end. Interest is calculated at the higher of 3% above base and 8% per annum.
10 Related party transactions 2024 2023
R & M Property Rentals Ltd £ £
R & M Property Rentals Ltd is jointly owned by two of the directors of R & M Rentals Limited.
Amounts due from R & M Property Rentals Ltd 1,610,027 1,475,027
11 Other information
R & M RENTALS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
97-99 Worton Road,
Isleworth,
Middlesex,
TW7 6EG
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