Company registration number 05156126 (England and Wales)
KETTERING VEHICLE RENTALS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
KETTERING VEHICLE RENTALS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
KETTERING VEHICLE RENTALS LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
245,356
275,310
Cash at bank and in hand
1,332
1,306
246,688
276,616
Creditors: amounts falling due within one year
5
(241,987)
(269,082)
Net current assets
4,701
7,534
Creditors: amounts falling due after more than one year
6
(13,280)
Net assets/(liabilities)
4,701
(5,746)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
4,601
(5,846)
Total equity
4,701
(5,746)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 17 June 2025
Mr M Deely
Director
Company Registration No. 05156126
KETTERING VEHICLE RENTALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information
Kettering Vehicle Rentals Limited is a private company limited by shares incorporated in England and Wales. The registered office is Office 8, 53 Lower Street, Kettering, Northamptonshire, United Kingdom, NN16 8BH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Going concern
There has been no trade during the year ended 28 February 2025 as a result of the fire in February 2023. The company is currently in the process of negociating its insurance claims.
Turnover represents net invoiced sales of goods and services, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
All fixed assets were impaired to £Nil and removed from the financial statements in the 2024 accounting period. This is a result of the fire that occured at the premises in February 2023. Therefore, no depreciation is charged in the 2025 accounting period.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
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.
KETTERING VEHICLE RENTALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
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.
1.6
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
1.7
Leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
10,092
Other debtors
245,356
265,218
245,356
275,310
KETTERING VEHICLE RENTALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
86,323
81,426
Trade creditors
13,681
3,132
Corporation tax
16,145
13,604
Other taxation and social security
71,062
113,014
Other creditors
9,947
21,444
Accruals and deferred income
44,829
36,462
241,987
269,082
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
13,280