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REGISTERED NUMBER: 02972351 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SPECIALIST RENTALS LIMITED

SPECIALIST RENTALS LIMITED (REGISTERED NUMBER: 02972351)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

SPECIALIST RENTALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr Antony James Quick
Mrs Susan Patricia Quick
Mr Adam James Quick
Mrs Anna Marie Welsh





SECRETARY: Mrs Susan Patricia Quick





REGISTERED OFFICE: 1A Baddesley Close
North Baddesley
Southampton
Hampshire
SO52 9DR





REGISTERED NUMBER: 02972351 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ

SPECIALIST RENTALS LIMITED (REGISTERED NUMBER: 02972351)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 26,638 14,539
Investment property 6 5,377,500 5,377,500
5,404,138 5,392,039

CURRENT ASSETS
Debtors 7 12,662 7,990
Cash at bank 6,266 9,865
18,928 17,855
CREDITORS
Amounts falling due within one year 8 1,063,508 1,001,101
NET CURRENT LIABILITIES (1,044,580 ) (983,246 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,359,558

4,408,793

CREDITORS
Amounts falling due after more than one
year

9

(2,358,580

)

(2,390,869

)

PROVISIONS FOR LIABILITIES 11 (92,148 ) (95,125 )
NET ASSETS 1,908,830 1,922,799

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Investment property reserve 1,275,769 1,275,769
Retained earnings 632,061 646,030
SHAREHOLDERS' FUNDS 1,908,830 1,922,799

SPECIALIST RENTALS LIMITED (REGISTERED NUMBER: 02972351)

BALANCE SHEET - continued
30 SEPTEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2025 and were signed on its behalf by:





Mr Antony James Quick - Director


SPECIALIST RENTALS LIMITED (REGISTERED NUMBER: 02972351)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Specialist Rentals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted if there is an indication of a significant change since the last reporting date.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The director of the company ensures that the investment properties held are included in the balance sheet at their open market value. The valuation of the properties are determined in accordance with land registry research carried out by the director, as well as a professional valuation carried out by Cliffe Roberts Chartered Surveyors on selected properties.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

CURRENT ASSET INVESTMENTS
Investments are stated at current cost using stock market valuations and the gain or loss recognised in the profit and loss account in the period to which it relates.

SHORT-TERM DEBTORS AND CREDITORS
Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price whether or not a rate of interest is charged on the balance.

SPECIALIST RENTALS LIMITED (REGISTERED NUMBER: 02972351)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 35,704
DEPRECIATION
At 1 October 2023
and 30 September 2024 35,704
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2023 14,539
Additions 9,528
Revaluations 2,571
At 30 September 2024 26,638
NET BOOK VALUE
At 30 September 2024 26,638
At 30 September 2023 14,539

Cost or valuation at 30 September 2024 is represented by:

Other
investments
£   
Valuation in 2018 (358 )
Valuation in 2019 270
Valuation in 2020 1,499
Valuation in 2021 (783 )
Valuation in 2022 (2,581 )
Valuation in 2023 (206 )
Valuation in 2024 2,571
Cost 26,226
26,638

SPECIALIST RENTALS LIMITED (REGISTERED NUMBER: 02972351)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 5,377,500
NET BOOK VALUE
At 30 September 2024 5,377,500
At 30 September 2023 5,377,500

The investment properties were revalued during the year by Mr A J Quick Esq, a director of the company.

£
Cost 4,009,582
Valuation in 1999 7,200
Valuation in 2000 26,500
Valuation in 2001 9,000
Valuation in 2002 99,000
Valuation in 2003 25,045
Valuation in 2004 90,021
Valuation in 2005 (5,000 )
Valuation in 2006 15,000
Valuation in 2007 13,395
Valuation in 2008 (425,815 )
Valuation in 2014 359,947
Valuation in 2015 225,500
Valuation in 2016 201,000
Valuation in 2017 235,385
Valuation in 2019 50,515
Valuation in 2020 (25,719 )
Valuation in 2021 259,616
Valuation in 2022 137,867
Valuation in 2023 69,461
5,377,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Intercompany loan 292 392
Other debtors 1,949 -
Deferred tax asset 8,176 2,976
Prepayments 2,245 4,622
12,662 7,990

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Mortgage (secured) due within
one year 25,288 22,288
Trade creditors - 222
Intercompany loan 93,774 77,420
Directors' current accounts 931,559 888,255
Accrued expenses 2,887 2,916
1,063,508 1,001,101

SPECIALIST RENTALS LIMITED (REGISTERED NUMBER: 02972351)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 833 10,833
Mortgage (secured) due after
more than one year 2,347,747 2,370,036
2,358,580 2,390,869

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage (secured) due after
more than one year 2,347,747 2,370,036
2,347,747 2,370,036

The mortgages are secured on the properties concerned.

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 2,373,035 2,392,324

The above debts are secured by a charge over the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 92,148 95,125

Deferred
tax
£   
Balance at 1 October 2023 95,125
Movement during the year (2,977 )
Balance at 30 September 2024 92,148

12. RELATED PARTY DISCLOSURES

At the beginning of the year £77,420 was owed to an associated company. During the year this balance increased by £16,354 as a result of charges incurred from the associated company. Therefore at the balance sheet date, included within creditors due within one year is an amount of £93,774 which represents the loan from the associated company.

No interest was paid on this loan during the year and no security has been given.

At the beginning of the year £392 was owed by an associated company. During the year this balance reduced by £100 as a result of charges incurred from the associated company. Therefore at the balance sheet date, included within debtors due within one year is an amount of £292 which represents the loan to the associated company.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SPECIALIST RENTALS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Specialist Rentals Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Specialist Rentals Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Specialist Rentals Limited and state those matters that we have agreed to state to the Board of Directors of Specialist Rentals Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Specialist Rentals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Specialist Rentals Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Specialist Rentals Limited. You consider that Specialist Rentals Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Specialist Rentals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ


Date: .............................................