Registration number:
Local Appliance Rentals (Redcar & Cleveland) Limited
for the Year Ended 31 March 2025
Local Appliance Rentals (Redcar & Cleveland) Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Local Appliance Rentals (Redcar & Cleveland) Limited
(Registration number: 10620078)
Balance Sheet as at 31 March 2025
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2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net (liabilities)/assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' (deficit)/funds |
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Local Appliance Rentals (Redcar & Cleveland) Limited
(Registration number: 10620078)
Balance Sheet as at 31 March 2025
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Local Appliance Rentals (Redcar & Cleveland) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
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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 functional currency of the company and rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.
Revenue recognition
Turnover comprises of rental receipts received or receivable for the sale of goods over the life of the contractual agreement. 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;
Government grants
Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Any amounts outstanding at the year end will be included within other debtors.
Local Appliance Rentals (Redcar & Cleveland) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Tax
The tax expense for the period comprises deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
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:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
25% reducing balance |
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Build of home office |
15% reducing balance |
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Computer equipment |
15% reducing balance |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Franchise territory fee |
10% straight line |
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Website costs |
20% straight line |
Stocks
Stocks are stated at cost of the goods less amortisation charged over the life of the contract relating to the goods. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to selling price less applicable costs; the impairment loss is recognised immediately in profit or loss.
Local Appliance Rentals (Redcar & Cleveland) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Local Appliance Rentals (Redcar & Cleveland) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Intangible assets |
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Franchise territory fee |
Total |
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Cost or valuation |
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At 1 April 2024 |
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At 31 March 2025 |
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Amortisation |
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At 1 April 2024 |
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Amortisation charge |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Tangible assets |
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Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2024 |
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Additions |
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- |
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Disposals |
- |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Local Appliance Rentals (Redcar & Cleveland) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Debtors |
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Current |
Note |
2025 |
2024 |
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Trade debtors |
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Amounts owed by related parties |
- |
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Prepayments |
- |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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HP and finance lease liabilities |
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Other borrowings |
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Local Appliance Rentals (Redcar & Cleveland) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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2025 |
2024 |
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Due after more than five years |
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After more than five years by instalments |
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