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Registrar

Registration number: 10404403

Equity Rentals Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Equity Rentals Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Equity Rentals Limited

Company Information

Directors

D C Robson

M J Vincent

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Metro Bank Plc
One Southampton Row
London
WC1B 5HA

Accountants

Lambert Chapman LLP
Chartered accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Equity Rentals Limited

(Registration number: 10404403)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

415,000

359,984

Current assets

 

Debtors

5

45

74

Cash at bank and in hand

 

6,261

13,824

 

6,306

13,898

Creditors: Amounts falling due within one year

6

(13,788)

(26,276)

Net current liabilities

 

(7,482)

(12,378)

Total assets less current liabilities

 

407,518

347,606

Creditors: Amounts falling due after more than one year

6

(207,792)

(207,792)

Provisions for liabilities

(44,317)

(30,563)

Net assets

 

155,409

109,251

Capital and reserves

 

Called up share capital

7

2

2

Fair value reserve

138,101

96,839

Retained earnings

17,306

12,410

Shareholders' funds

 

155,409

109,251

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 June 2025 and signed on its behalf by:
 

D C Robson
Director

 

Equity Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB.

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of rental income for owned properties in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

 

Equity Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually using observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from tenants in respect of rent in the ordinary course of business.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

 

Equity Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 October

359,984

Fair value adjustments

55,016

At 30 September

415,000

The fair value has been determined by the directors as at 30 September 2024.

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Prepayments

45

74

45

74

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,149

1,287

Accruals and deferred income

1,500

1,350

Other creditors

11,139

23,639

13,788

26,276

Creditors: amounts falling due after more than one year

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

207,792

207,792

 

Equity Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2