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Registrar

Registration number: 08971021

LCH Rentals Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

LCH Rentals Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

LCH Rentals Limited

Company Information

Directors

H M Darlington

L M Darlington

Company secretary

Land Secretaries Ltd

Registered office

The Barn, Woods Farm
Grange Road
Pleshey
Chelmsford
Essex
CM3 1HZ

Bankers

Revolut Limited
7 Westferry Circus
Canary Wharf
London
E14 4HD

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

LCH Rentals Limited

(Registration number: 08971021)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,100,000

640,781

Investments

5

49,733

49,733

 

1,149,733

690,514

Current assets

 

Debtors

6

46,592

45,500

Cash at bank and in hand

 

20,923

11,444

 

67,515

56,944

Creditors: Amounts falling due within one year

7

(199,946)

(178,118)

Net current liabilities

 

(132,431)

(121,174)

Total assets less current liabilities

 

1,017,302

569,340

Creditors: Amounts falling due after more than one year

7

(396,425)

(396,425)

Provisions for liabilities

(117,038)

-

Net assets

 

503,839

172,915

Capital and reserves

 

Called up share capital

4

4

Retained earnings

503,835

172,911

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:

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 30 January 2025 and signed on its behalf by:
 

H M Darlington
Director

 

LCH Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is: The Barn, Woods Farm, Grange Road, Pleshey, Chelmsford, Essex, CM3 1HZ.

These financial statements were authorised for issue by the Board on 30 January 2025.

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.

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

Investments in carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit and loss account.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 May

640,781

Fair value adjustments

459,219

At 30 April

1,100,000

There has been no valuation of investment property by an independent valuer.

5

Investments

2024
£

2023
£

Investments in subsidiaries

49,733

49,733

Subsidiaries

£

Cost or valuation

At 1 May 2023

49,733

At 30 April 2024

49,733

 

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

2024

2023

Subsidiary undertakings

GRD Property Management Limited

England and Wales

Ordinary

100%

100%

6

Debtors

2024
£

2023
£

Other debtors

46,142

45,500

Prepayments

450

-

46,592

45,500

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

2,918

Other creditors

196,188

163,263

Taxation and social security

-

11,187

Accruals and deferred income

3,758

750

199,946

178,118

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

396,425

396,425

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

396,425

396,425

 

LCH Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

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.

10

Related party transactions

Loans from related parties

2024

Parent
£

Total
£

At start of period

44,249

44,249

Advanced

1,328

1,328

At end of period

45,577

45,577

2023

Parent
£

Total
£

At start of period

44,249

44,249

At end of period

44,249

44,249

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.