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Logo On Report
Registered Number: 11369154
England and Wales

 

 

 

XLNC CAR HIRE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Ibrar Ahmed Ahmed
Registered Number 11369154
Registered Office 17 Fortnum Close
Birmingham
West Midlands
B33 0LG
1
  2024   2023
    £ £   £ £
Fixed assets   866,921      784,668 
Current assets 29,399      60,922   
Creditors: amount falling due within one year (299,483)     (207,835)  
Net current assets   (270,084)     (146,913)
Total assets less current liabilities   596,837      637,755 
Creditors: amount falling due after more than one year   (236,110)     (353,088)
Net assets   360,727      284,667 
 

         
Capital and reserves   360,727      284,667 
 
NOTES TO THE ACCOUNTS

General Information
XLNC Car Hire Ltd is a private company, limited by shares, registered in England and Wales, registration number 11369154, registration address 17 Fortnum Close, Birmingham, West Midlands, B33 0LG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date. 
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 10% Reducing Balance
Fixed Asset Investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 June 2023 806,543    806,543 
Additions 133,990    133,990 
Disposals  
At 31 May 2024 940,533    940,533 
Depreciation
At 01 June 2023 126,833    126,833 
Charge for year 76,904    76,904 
On disposals  
At 31 May 2024 203,737    203,737 
Net book values
Closing balance as at 31 May 2024 736,796    736,796 
Opening balance as at 01 June 2023 679,710    679,710 

The net book value of Motor Vehicles includes £ 573,087 (2023 £497,811) in respect of assets leased under finance leases or hire purchase contracts.

3.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 June 2023 104,958    104,958 
Additions 25,167    25,167 
Transfer to/from tangible fixed assets  
Disposals  
At 31 May 2024 130,125    130,125 

4.

Average number of employees

Average number of employees during the year was 3 (2023 : 2).


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 26 August 2024 and were signed by:


--------------------------------
Ibrar Ahmed Ahmed
Director
2