Registered number
03873966
Bedford Rentals Limited
Report and Accounts
31 March 2025
Bedford Rentals Limited
Registered number: 03873966
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 3 1,068,907
Current assets
Debtors 4 450,890 386,389
Cash at bank and in hand 2,875,191 1,734,395
3,326,081 2,120,784
Creditors: amounts falling due within one year 5 (531,223) (199,268)
Net current assets 2,794,858 1,921,516
Total assets less current liabilities 2,794,861 2,990,423
Provisions for liabilities - (71,338)
Net assets 2,794,861 2,919,085
Capital and reserves
Called up share capital 2,000 2,000
Revaluation reserve 6 - 482,562
Profit and loss account 2,792,861 2,434,523
Shareholders' funds 2,794,861 2,919,085
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
D R Wooding
Director
Approved by the board on 3 June 2025
Bedford Rentals Limited
Notes to the Accounts
for the year ended 31 March 2025
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:
Fixtures, fittings and equipment 33.33% straight line
Assets in the course of construction Over 30 years
Investment property
Investment property is included at fair value. Gains are recognised in the Profit and Loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2024 1,000,000 437,107 1,437,107
Disposals (1,000,000) (82,190) (1,082,190)
At 31 March 2025 - 354,917 354,917
Depreciation
At 1 April 2024 - 368,200 368,200
Charge for the year - 27,394 27,394
On disposals - (40,680) (40,680)
At 31 March 2025 - 354,914 354,914
Net book value
At 31 March 2025 - 3 3
At 31 March 2024 1,000,000 68,907 1,068,907
Freehold land and buildings: 2025 2024
£ £
Historical cost - 446,097
Cumulative depreciation based on historical cost - -
- 446,097
The freehold property is valued by the Directors at fair value at each year end. The last remaining property was sold in the year.
4 Debtors 2025 2024
£ £
Trade debtors 107,835 71,730
Amounts owed by group undertakings and undertakings in which the company has a participating interest 343,055 292,698
Other debtors - 21,961
450,890 386,389
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors - 7,100
Taxation and social security costs 73,534 1,423
Other creditors 457,689 190,745
531,223 199,268
6 Revaluation reserve 2025 2024
£ £
At 1 April 2024 482,562 361,983
(Loss)/gain on revaluation of land and buildings - 170,000
Released on disposal of land and buildings (553,903) -
Deferred taxation on revaluation adjustments 71,341 (49,421)
At 31 March 2025 - 482,562
7 Related party transactions
Included at note 4 above is £343,055 (2024: £292,698) due from Twinwood Events Limited, a company under common control.
8 Other information
Bedford Rentals Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Goldington Road
Bedford
MK40 3JY
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