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Registration number: 10620078

Local Appliance Rentals (Redcar & Cleveland) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Local Appliance Rentals (Redcar & Cleveland) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Local Appliance Rentals (Redcar & Cleveland) Limited

(Registration number: 10620078)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

5,500

8,500

Tangible assets

5

50,199

22,877

 

55,699

31,377

Current assets

 

Stocks

90,129

91,976

Debtors

6

5,056

8,118

Cash at bank and in hand

 

8

21,443

 

95,193

121,537

Creditors: Amounts falling due within one year

7

(61,511)

(38,262)

Net current assets

 

33,682

83,275

Total assets less current liabilities

 

89,381

114,652

Creditors: Amounts falling due after more than one year

7

(97,742)

(110,117)

Provisions for liabilities

(3,956)

(4,347)

Net (liabilities)/assets

 

(12,317)

188

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(12,417)

88

Shareholders' (deficit)/funds

 

(12,317)

188

 

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:

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 July 2025 and signed on its behalf by:
 

.........................................
Mr M Hall
Director

 

Local Appliance Rentals (Redcar & Cleveland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 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:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Build of home office

15% reducing balance

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:

Asset class

Amortisation method and rate

Franchise territory fee

10% straight line

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Local Appliance Rentals (Redcar & Cleveland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Franchise territory fee
 £

Total
£

Cost or valuation

At 1 April 2024

30,000

30,000

At 31 March 2025

30,000

30,000

Amortisation

At 1 April 2024

21,500

21,500

Amortisation charge

3,000

3,000

At 31 March 2025

24,500

24,500

Carrying amount

At 31 March 2025

5,500

5,500

At 31 March 2024

8,500

8,500

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

3,428

28,490

31,918

Additions

42,248

-

42,248

Disposals

-

(7,491)

(7,491)

At 31 March 2025

45,676

20,999

66,675

Depreciation

At 1 April 2024

514

8,527

9,041

Charge for the year

6,775

3,937

10,712

Eliminated on disposal

-

(3,277)

(3,277)

At 31 March 2025

7,289

9,187

16,476

Carrying amount

At 31 March 2025

38,387

11,812

50,199

At 31 March 2024

2,914

19,963

22,877

 

Local Appliance Rentals (Redcar & Cleveland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

5,056

7,712

Amounts owed by related parties

-

86

Prepayments

 

-

320

   

5,056

8,118

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

24,752

24,752

Trade creditors

 

9,869

601

Taxation and social security

 

3,657

2,763

Accruals and deferred income

 

1,724

2,832

Other creditors

 

21,509

7,314

 

61,511

38,262

Current loans and borrowings

2025
£

2024
£

Bank borrowings

5,429

5,429

HP and finance lease liabilities

3,780

3,780

Other borrowings

15,543

15,543

24,752

24,752

 

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

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

97,742

110,117

2025
£

2024
£

Due after more than five years

After more than five years by instalments

-

13,193

-

-