Registered number
09391745
KJ PCO Rentals Ltd
Filleted Accounts
31 December 2024
KJ PCO Rentals Ltd
Registered number: 09391745
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,849,752 6,409,253
Current assets
Stocks 11,541 -
Debtors 4 1,391,644 959,969
Cash at bank and in hand 247,108 578,201
1,650,293 1,538,170
Creditors: amounts falling due within one year 5 (3,724,783) (2,560,081)
Net current liabilities (2,074,490) (1,021,911)
Total assets less current liabilities 5,775,262 5,387,342
Creditors: amounts falling due after more than one year 6 (3,777,180) (3,606,125)
Net assets 1,998,082 1,781,217
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,997,982 1,781,117
Shareholder's funds 1,998,082 1,781,217
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ali Kemal Kalayci
Director
Approved by the board on 10 April 2025
KJ PCO Rentals Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 15% straight line method
Fixtures, fittings, tools and equipment 20% straight line method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 8
3 Tangible fixed assets
Improvement to office Equipment and F F & F Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 1,800 54,273 9,038,662 9,094,735
Additions 1,085 71,664 3,286,106 3,358,855
Disposals - - (470,889) (470,889)
At 31 December 2024 2,885 125,937 11,853,879 11,982,701
Depreciation
At 1 January 2024 - 9,039 2,676,443 2,685,482
Charge for the year - 39,221 1,408,246 1,447,467
At 31 December 2024 - 48,260 4,084,689 4,132,949
Net book value
At 31 December 2024 2,885 77,677 7,769,190 7,849,752
At 31 December 2023 1,800 45,234 6,362,219 6,409,253
4 Debtors 2024 2023
£ £
Loans to connected companies (see note 8) 1,166,134 421,000
Director's loan account - 197,272
Other debtors 41,092 31,795
Vat recoverable 184,418 309,902
1,391,644 959,969
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 50,377 24,879
Obligations under finance lease and hire purchase contracts 3,258,380 2,308,672
Drivers deposits 159,285 115,700
Corporation tax 92,316 54,791
Trade creditors 96,803 54,706
Taxation and social security costs 54,791 -
Accrued expenses 12,831 1,333
3,724,783 2,560,081
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,157 45,470
Obligations under finance lease and hire purchase contracts 3,717,335 3,560,655
Director's loan account 31,688 -
3,777,180 3,606,125
7 Other information
KJ PCO Rentals Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Ravenscraig Road
New Southgate
London N11 1AD
8 Loans to connected companies
Interest free loans were provided to three connected companies in which director hold 100% shares.
KJ PCO Rentals Ltd 09391745 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts July 2024 Mr Ali Kemal Kalayci No description of principal activity 09391745 2023-01-01 2023-12-31 09391745 core:WithinOneYear 2023-12-31 09391745 core:AfterOneYear 2023-12-31 09391745 core:ShareCapital 2023-12-31 09391745 core:RetainedEarningsAccumulatedLosses 2023-12-31 09391745 2024-01-01 2024-12-31 09391745 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09391745 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09391745 bus:Director40 2024-01-01 2024-12-31 09391745 1 2024-01-01 2024-12-31 09391745 2 2024-01-01 2024-12-31 09391745 core:LandBuildings 2024-01-01 2024-12-31 09391745 core:PlantMachinery 2024-01-01 2024-12-31 09391745 core:Vehicles 2024-01-01 2024-12-31 09391745 countries:England 2024-01-01 2024-12-31 09391745 bus:FRS102 2024-01-01 2024-12-31 09391745 bus:FilletedAccounts 2024-01-01 2024-12-31 09391745 2024-12-31 09391745 core:WithinOneYear 2024-12-31 09391745 core:AfterOneYear 2024-12-31 09391745 core:ShareCapital 2024-12-31 09391745 core:RetainedEarningsAccumulatedLosses 2024-12-31 09391745 core:LandBuildings 2024-12-31 09391745 core:PlantMachinery 2024-12-31 09391745 core:Vehicles 2024-12-31 09391745 2023-12-31 09391745 core:LandBuildings 2023-12-31 09391745 core:PlantMachinery 2023-12-31 09391745 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure