Registrar
Registration number:
LCH Rentals Limited
for the Year Ended 30 April 2024
LCH Rentals Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
LCH Rentals Limited
Company Information
Directors |
H M Darlington L M Darlington |
Company secretary |
Land Secretaries Ltd |
Registered office |
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Bankers |
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Accountants |
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LCH Rentals Limited
(Registration number: 08971021)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
4 |
4 |
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Retained earnings |
503,835 |
172,911 |
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Shareholders' funds |
503,839 |
172,915 |
For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
Director
LCH Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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
Current Tax is recognised in the profit and loss account, 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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for sales or services performed in the ordinary course of business.
LCH Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
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.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2024 |
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At 1 May |
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Fair value adjustments |
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At 30 April |
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There has been no valuation of investment property by an independent valuer.
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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LCH Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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England and Wales |
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Debtors |
2024 |
2023 |
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Other debtors |
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Prepayments |
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- |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
- |
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Other creditors |
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Taxation and social security |
- |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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LCH Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Financial commitments, guarantees and contingencies |
Amounts disclosed in the balance sheet
Included in the balance sheet are financial commitments of £396,425 (2023 - £396,425). Security has been provided to Onesavings Bank PLC in relation to the bank borrowings within loans and and borrowings in note 8 to the accounts by the way of fixed and floating charges over all the property and undertaking of the company.
Related party transactions |
Loans from related parties
2024 |
Parent |
Total |
At start of period |
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Advanced |
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At end of period |
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2023 |
Parent |
Total |
At start of period |
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At end of period |
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Included within debtors is a interest free loan with related parties. The balance owed to the company at the period end was £45,577 (2023: £44,249). Other related party balances included within debtors and creditors relate to trading and charges, these transactions have been conducted on an arms length basis.