| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2024 |
| for |
| J & P Rentals Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2024 |
| for |
| J & P Rentals Limited |
| J & P Rentals Limited (Registered number: 09152015) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| J & P Rentals Limited |
| Company Information |
| for the Year Ended 30 November 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 398 Coast Road |
| Pevensey Bay |
| Pevensey |
| East Sussex |
| BN24 6NY |
| J & P Rentals Limited (Registered number: 09152015) |
| Balance Sheet |
| 30 November 2024 |
| 30/11/24 | 30/11/23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| J & P Rentals Limited (Registered number: 09152015) |
| Balance Sheet - continued |
| 30 November 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| J & P Rentals Limited (Registered number: 09152015) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2024 |
| 1. | STATUTORY INFORMATION |
| J & P Rentals Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold |
| property |
| £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| Included in cost of land and buildings is freehold land of £ 250,000 (2023 - £ 250,000 ) which is not depreciated. |
| J & P Rentals Limited (Registered number: 09152015) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2024 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Tax |
| VAT | 3,993 | 4,629 |
| Directors' loan accounts | 38,858 | 37,571 |
| Accrued expenses |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Loan Account | 49,883 | 52,393 |
| Other loans more 5yrs instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | 25,508 | 47,258 |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the balance sheet date, the directors had loaned the company the directors loan account in order to purchase the business. interest has been charged at 3.5% for this loan and there is no set repayment date. It is however repayable on demand. |
| In addition the company has received a mortgage from Barclays bank in order to purchase the freehold property which J & P rentals now owns. This is being repaid on amonthly basis. |
| Finally J P Tyres Limited has lent the company the sum of £65,000 to purchase the freehold property. This is being repaid on a monthly basis. Interest is being charged for the borrowing at the HMRC advised rate currently at 3.25%. |