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Registration number: 13982119

XYZ Rental Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

XYZ Rental Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

XYZ Rental Limited

Company Information

Directors

H K Coulam

P M Green

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

 

XYZ Rental Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,522,444

1,522,444

Current assets

 

Cash at bank and in hand

 

11,878

-

Creditors: Amounts falling due within one year

5

(1,454,490)

(1,262,572)

Net current liabilities

 

(1,442,612)

(1,262,572)

Total assets less current liabilities

 

79,832

259,872

Creditors: Amounts falling due after more than one year

5

(71,500)

(259,772)

Net assets

 

8,332

100

Capital and reserves

 

Called up share capital

100

100

Retained earnings

8,232

-

Shareholders' funds

 

8,332

100

For the financial year ending 31 March 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 12 February 2025 and signed on its behalf by:
 

.........................................

H K Coulam

Director

Company registration number: 13982119

 

XYZ Rental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of an investment holding company

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 March 2024 and had net assets at that date of £8,332 including cash at bank of £11,878.

With the resources that the company has, the directors believe that the company has sufficient working capital for a period exceeding 12 months from the approval of the financial statements.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue from support services to the group over the period in which the services are supplied.

 

XYZ Rental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2023 - 0).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,522,444

1,522,444

Subsidiaries

£

Cost or valuation

At 1 April 2023 and 31 March 2024

1,522,444

Carrying amount

At 31 March 2024

1,522,444

At 31 March 2023

1,522,444

 

XYZ Rental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Amounts owed to group undertakings

1,241,219

1,080,575

Taxation and social security

11,691

-

Other creditors

201,580

181,997

1,454,490

1,262,572

Creditors: amounts falling due after more than one year

2024
£

2023
£

Other creditors

71,500

259,772

6

Related party transactions

In accordance with FRS 102 paragraph 1AC.35, exemption is taken not to disclose transactions in the period or amounts falling due between undertakings, where 100% of the voting rights are controlled within the group.

7

Guarantees and security

At 31 March 2024 an amount of £243,100 (2023: £393,869) was secured by a charge over the share capital of the subsidiary undertaking shown in note 4.