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Registration number: 12167114

Smart-Rentals Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Smart-Rentals Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Smart-Rentals Ltd

Company Information

Director

Mr Christopher John Parkes

Registered office

23 Hampton Lane
Blackfield
Southampton
SO45 1ZA

Accountants

RiverView Portfolio Limited 1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Smart-Rentals Ltd

(Registration number: 12167114)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

128

257

Current assets

 

Debtors

6

25,997

2,945

Cash at bank and in hand

 

30,659

37,506

 

56,656

40,451

Creditors: Amounts falling due within one year

7

(9,128)

(10,200)

Net current assets

 

47,528

30,251

Net assets

 

47,656

30,508

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

46,656

29,508

Shareholders' funds

 

47,656

30,508

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 13 May 2025
 

.........................................
Mr Christopher John Parkes
Director

 

Smart-Rentals Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
23 Hampton Lane
Blackfield
Southampton
SO45 1ZA
England

These financial statements were authorised for issue by the director on 13 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Smart-Rentals Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

129

636

 

Smart-Rentals Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

2,544

2,544

At 31 August 2024

2,544

2,544

Depreciation

At 1 September 2023

2,287

2,287

Charge for the year

129

129

At 31 August 2024

2,416

2,416

Carrying amount

At 31 August 2024

128

128

At 31 August 2023

257

257

6

Debtors

Current

2024
£

2023
£

Trade debtors

23,650

-

Prepayments

1,247

1,845

Other debtors

1,100

1,100

 

25,997

2,945

7

Creditors

Creditors: amounts falling due within one year

 

Smart-Rentals Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Creditors (continued)

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

586

(87)

Amounts owed to group undertakings and undertakings in which the company has a participating interest

555

2,830

Taxation and social security

 

5,616

4,610

Accruals and deferred income

 

1,250

1,250

Other creditors

 

1,121

1,597

 

9,128

10,200