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Registered number: 13141759










KINGFISHER RENTALS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

 
KINGFISHER RENTALS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KINGFISHER RENTALS LTD
FOR THE YEAR ENDED 31 JANUARY 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kingfisher Rentals Ltd for the year ended 31 January 2025 which comprise  the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Kingfisher Rentals Ltd, as a body, in accordance with the terms of our engagement letter dated 21 January 2021Our work has been undertaken solely to prepare for your approval the financial statements of Kingfisher Rentals Ltd and state those matters that we have agreed to state to the Board of Directors of Kingfisher Rentals Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kingfisher Rentals Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Kingfisher Rentals Ltd 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 Kingfisher Rentals Ltd. You consider that Kingfisher Rentals Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Kingfisher Rentals Ltd. 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
7 April 2025
Page 1

 
KINGFISHER RENTALS LTD
REGISTERED NUMBER: 13141759

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Investment property
 4 
710,580
710,580

  
710,580
710,580

Current assets
  

Debtors: amounts falling due within one year
 5 
-
2,216

Cash at bank and in hand
  
9,959
11,551

  
9,959
13,767

Creditors: amounts falling due within one year
 6 
(363,578)
(334,358)

Net current liabilities
  
 
 
(353,619)
 
 
(320,591)

Total assets less current liabilities
  
356,961
389,989

Creditors: amounts falling due after more than one year
 7 
(320,740)
(349,740)

Provisions for liabilities
  

Deferred tax
  
(16,042)
(16,042)

Net assets
  
20,179
24,207


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 8 
48,128
48,128

Profit and loss account
 8 
(28,049)
(24,021)

  
20,179
24,207


Page 2

 
KINGFISHER RENTALS LTD
REGISTERED NUMBER: 13141759
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 April 2025.




M I Farrington
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
KINGFISHER RENTALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

Kingfisher Rentals Ltd is a United Kingdom Company limited by shares. It is both incorporated and
domiciled in England and Wales. The address of its registered office is 7 The Close, Norwich, NR1 4DJ.
The Company's principal activity during the year was that of property letting. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors will continue to support the Company, where required, for the foreseeable future. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Turnover comprises rents receivable during the year, recognised on an accruals basis in accordance with the period for which rent is due under the terms of the tenancy. The Company is not registered for Value Added Tax.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
KINGFISHER RENTALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
KINGFISHER RENTALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2024
710,580



At 31 January 2025
710,580

The 2025 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

2025
2024
£
£


Trade debtors
-
2,216

-
2,216



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Other creditors
361,514
332,390

Accruals and deferred income
2,064
1,968

363,578
334,358


Page 6

 
KINGFISHER RENTALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

7.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
320,740
349,740

320,740
349,740



8.


Reserves

Investment property revaluation reserve

The fair value reserve represents the cumulative value of revaluations of the Company's investment properties to fair value, net of deferred tax. The amounts debited or credited to this reserve are transfers from the profit and loss account. Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax applicable in the UK.


9.


Related party transactions

As at 31 January 2025 the balance owed to the directors was £361,514 (2024: £332,390).

 
Page 7